According to projections, the global demand for strategic HR systems would increase at a CAGR of 5.8 percent from 2021 to 2028, from $24.04 billion to $35.68 billion from an estimated $22.89 billion in 2020. The industry has resumed its pre-pandemic levels of demand and growth, which is what caused the CAGR to increase. Increased adoption of cloud-based innovations like Software as a Service (SaaS) and the proliferation of mobile and cloud operations are some contributory factors to this boom. Other factors include an upsurge in the automation of HR processes. An increase in the utilization of technology is anticipated to fuel the HR software segment. The technology has a number of benefits, such as automated updates, records management, and universality, each of which is predicted to boost interest over the course of the projected time frame.
2018 saw the official debut of the SaaS-fintech enterprise Zimyo. Ever since, the startup has delivered services for all SMEs' requirements and demands in relation to HR, Payroll, Performance Management, Recruitment, Engagement, and also Employee Benefits. Through its 40+ modules, including HR, payroll, performance management system (PMS), applicant tracking system (ATS), time and attendance software, engagement and additional employee benefits, Zimyo is a pioneering cloud-based software platform that provides exceptional employee experiences. These modules help organizations with their full talent acquisition lifecycle.
Inception & Range of products
With the goal of creating a system that helps all data-driven enterprises deliver the greatest possible employee experiences, Kumar Mayank and Ajay Singh developed Zimyo. The teams were able to devise creative cloud-based HR solutions with Zimyo, which made the tedious documentation easier. The platform initially introduced an HR, payroll, engagement, and performance management system that was backed by people analytics and helped organizations optimize their talent management cycle. The platform introduced 'Benefits' as a novel component in 2021.
For employees, these services encompass everything from personal loans and insurance to advanced payments and healthcare. Having constant vigor and assistance, Zimyo has been on an upward growth trajectory, and has onboarded more than 1000 clients in a short period of time since founding.
“An all in one solution for all HR concerns that assists companies by enhancing their productivity levels and engagement within the offices. Supported by end-to-end implementation to enhance the key metrics, Zimyo optimizes everything from – job postings and onboarding to offboarding and everything that lies in between.” says Kumar Mayank, CEO of Zimyo . Among the complete range of end-to-end solutions, Zimyo covers every essential service for organizations to manipulate their employee experience lifecycles.
The most prominent services provided by Zimyo fall under the categories of Core HR (under which the firm automizes all traditional HR tasks); Payroll (the system for which enables clients to disburse salaries in three simple clicks); Recruitment (wherein the firm helps shortlist and hire the best suited candidates for any job); Performance Management (for which the firm has established systems facilitating tracking and evaluation of employee performance); Employee Engagement (which helps organizations connect, involve and encourage their personnel, thereby fueling them to work better); and Timesheets (which are also focused on tracking and monitoring employees, more specifically on projects assigned and the time taken to complete the targets).
Through these very specific yet all encompassing range of services, coupled with the quality of each product and service, Zimyo has been able to create a distinct identity for itself in the market. Through every service provided by Zimyo, the client-centric approach in addition to the core focus on reducing manual labor and improving efficiency. The HR services, for instance, reduce manual labor threefolds, in addition to developing efficient workflow, tracking employee progress, and other administrative details. Similarly, the Payroll service offered by Zimyo has been developed to increase efficiency by being compliant with state and national tax laws across various tax regimes. The platform automizes everything from bonus calculations to deductions, and everything in between. The firm has built an ecosystem circling around improved workplace coherence and productivity amalgamated with better employee experiences right from talent acquisition to the end of employee lifecycle.
Future Roadmap
An excellent crew that works together seamlessly has been an essential contributor to Zimyo's success thus far. The organization anticipates achieving its future objectives with the assistance of this seasoned and knowledgeable workforce, while expanding cautiously as the need arises. Zimyo is also highly focused on the retention of a supportive and growth-oriented work culture for which it currently prides itself. “With regard to HR Management Systems and other employee centric services, the firm intends to become the top player in the world. While chasing this, the company also seeks to support other organizations in their initiatives to increase workforce satisfaction and create a fantastic culture”, adds Ajay Kadyan, Co-founder of Zimyo. Zimyo also aims to provide every individual employee the confidence, through its Fintech vertical, that they can find support in the event an economic crisis of any nature entangles them in its web.
