Over the years, HR software and tools for digital business management have become increasingly popular. More and more companies are embracing digital mechanisms to automate the time-consuming and wide range of HR tasks. Online workforce management systems are no longer a privilege but a necessity for performing tasks efficiently. And start-ups like PagarBook are leading the transformation for SMEs.
Technologies such as artificial intelligence (AI), machine learning (ML) and fintech are also being integrated into HRMS – Human Resource Management Systems- to make HR’s jobs more viable and efficient. These are some of the significant Indian staff management suites for business owners working to make the management for SME’s a bit easier.
Kredily was founded in 2017 and is the only HR software available for free. Kredily started with the idea of “democratising human resources” for small and medium-sized businesses across India. By offering its software free of charge, Kredily has made HR software available to the public and has won the support of more than 1,000 companies since its inception.
SMEs in India urgently need comprehensive digitisation, especially for the management and financial side of businesses.
SumHR is an HRMS provider dedicated to helping start-ups and SMEs improve their HR and payroll processes. The company uses cloud-based HR software that reduces bureaucracy, increases employee productivity and empowers HR teams to help the company achieve its goals.
Keka HR Payroll Software
Keka is a workforce management tool that uses cutting-edge HR software to create a state-of-the-art HR management system that provides a better experience. Founded in 2016, Keka has had more than 400 companies as its customers across India using their products to optimise personnel and payroll flows.
India’s Unexplored SME Sector Offers Many Opportunities
Each month, over 50% of small and medium business owners in India manage complex financial documents and human resources. There are currently around 56 million SMEs employing approximately 124 million people in various industries.
Some start-ups are coming up with potential solutions for easing the work for the large SME market. The fintech start-up PagarBook has recently outpaced the competition by helping SMEs overcome financial record keeping and workforce management complexities.
PagarBook – the Integrated Fintech Solution for SME Organisation
PagarBook is a fintech start-up specialising in simplifying complex financial and human resource management for SMEs and MSMEs. In the past three years, more than 8 million users have used its solutions. The start-up is committed to solving a series of most challenging problems faced by the SME sector.
There is essentially no promising solution for managing more than 100 million SME employees in India. The PagarBook application digitises and simplifies many financial numbers and data that is majorly circulated on old papers, registers and Bahi Khatas.
In the PagarBook software, users can enter information such as the number of employees, salary structure, working days, holidays, etc., so that the application can activate the desired shift service. The application is designed to capture and analyse reference data for later access. It is not limited to one company/industry and this solution meets all human resource management needs. As a result, PagarBook serves customers in a wide variety of industries.
Solutions like PagarBook help SME and SMBs be Self-sufficient
PagarBook is one of the first companies in India to issue proof of payment to the employees of SMEs like small industries, retail shops and manufacturing units. This means that all small company employees have a financial profile, experience and income proof. This profile will make it easier for these workers to enter the formal economy, even if most of them are not permanent workers compared to their corporate counterparts.
With PagarBook and even other HRMS systems like Kredily, small organisations that cannot build their own human capital platform are empowered with digital HR solutions. All big companies have their own HRMS platform and these start-ups are making the digital HR playing field even for SMEs.