Indian industries are going through a transition phase form capital investment to intellectual investment. The shift is essentially leading businesses to transform their practices from just employee management to employee development. Corporates are now keenly looking at HR Vendors like Workrig who can provide seamless integrated enterprise HR system to cater to this shift.
With 5.5 million turn out of graduates annually, India has the world’s largest employable graduates (~36%) and effectively makes the Indian HR technology market extremely lucrative and to the tune of ~$4 billion. In order to manage such volumes, HR technology market has to grow simultaneously at an expected CAGR of 9.5% . Main segments of growth being HR analytics, employee engagement, recruitment, learning & training management.
Out of the myriad customers that we have spoken to more than 87% of the companies in India are either the non-users/first time users of HR products, the research reports also suggests the same. The balance 13% companies also limit the usage to multiple point solutions rather than having one integrated product for all HR processes and are looking to bring this together by keeping the HR processes separate from their existing ERP systems.
With more than 12.2 Lac active organizations and atleast a 6 times bigger Micro – Small Industry belt in India, the sky is the limit when it comes to growth. As cloud products gain traction, Companies are now willing to look at solutions like us. Our key USP is that our product is amenable to rapid customization at minimal cost and offered on cloud. Our customers value this USP since they can now buy our cloud solution which can cater to their specific processes easily (HR departments across companies invariably design their specific processes).
The most widely faced challenge that in the HR Technology segment is the industry specific solutions which are required and which ultimately results in a long list of customizations & an equally painfully long implementation process. Another important aspect to take care is the quick user acceptance and a timely education on the usage. A lot of products fail to cut ice with the users on product adoption because either the product interface is too confusing or the work flow is not very well defined. So either the vendors are restricted by the breadth of the industry type or they face a challenge to handle to change management internally with employees.
Workrig (Human Capital Management) & Taskrig (Project & Portfolio) is a highly configurable solution which allows the user to define their own policies and work and requires minimalistic customization and in effect a quicker & more effective implementation process. Our standard workflows are built on the industry wide best practices, thus providing an opportunity to the clients to upgrade themselves from their home grown processes to best in class processes. Our offerings is backed well with documented user manuals, training & educating the users and a seamless tech support to ensure high user adoption levels.
While Industry is willing to explore the benefits of cloud solutions, the issues of data privacy and data security are still a big hurdle. We at Workrig are extremely cautious about this fact and our complete solution, be it software code, database, deployment, accessibility is built to safeguard our clients from any such potential threats.
The market is fast moving to integrated solutions with key focus on analytics, automation and mobility. The discussion is not only limited to employee engagement on aspects like learning, performance and training but it moving to the domain of effective work and time management with collaboration tools. Additionally, market is expecting solutions which provides more time to analyse for better decision-making rather than making multitude or entries.
Some of our new functionalities aims to automate, improvise & optimize your work environment. With the ability to integrate with various biometric devices & third party systems where APIs are available for integration, we promote automation and discourage the use of excels or manual entries. With new mobility features like geo-tagging, we aim to move in the right direction – ‘the direction where the customers want us to’. On the mobility front, we believe a lot of business transaction (inter/intra organizations) will happen on our mobile devices. We keenly observe how these devices are being used professionally or personally – displays, workflows, interactions and usage. We are building our mobile interface keeping these nuances at the centre-stage. We have a vision to build our mobile platform so complete in features and ease of usability, that, more than 90% of usage of our solution happens on mobile devices.
Founding Team are professionals having experience in the field of Information & Technology, Human Resource, Finance, Portfolio Management, Sales & Marketing at various organizations such as Sony, Makemytrip.com, Lgezbuy.com, Lodha Group etc. The team comes from renowned institutions of IIM C, IIM B, XLRI, IIT-R, CIM, (UK) etc. to back their professional expertise.
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Taskrig Solutions Pvt. Ltd., is a software product company which has created an enterprise level software product Workrig offering complete Hire to Retire – Human Capital Management (HCM), and possibly the only product company in India to offer an integrated People (HR) and Work (Projects & Billing) management solution on cloud. It is a highly configurable product at low total cost of ownership depending on the business requirements of its clients with seamlessly integrated modules with the ability to reduce implementation cycle time to keep the time & effort low.
Why Workrig? The product is already built with satisfied users across sectors hence a lower risk, moreover, with 90% retention of customers, product satisfaction has always been our priority. Dedicated teams with experience and functional expertise ensures our planned growth is achieved. We believe, ‘NOW’ is the right time to look at this ever expanding market with the GST and other statutory requirements being enforced at the grass root level, even the smallest of organizations will require an extremely user friendly solution like Workrig.
For more details to know about investment in Workrig, please email us at email@example.com or fill the contact form.