Leading industry experts have stated that the lockdown has made us rely and realise the need for technology now more than ever. While several disruptions have been reported in leading facets, the HR tech industry too has been fully inuandiated with technology.
Prasad Rajappan, Founder, ZingHR acquaints us with his daily operations and tells us why the reliance on technology is the need of the hour.
Do you think traditional HR processes can be replaced with RPA?
As a lot of organizations are rethinking on their HR processes to succeed in an agile and dynamic business environment, the continuous improvement approach will have a direct impact on business outcomes. There are 50% to 60% of HR processes that can be replaced with robotic process automation like Hiring and Onboarding, Recruitment, HR Administration, Analytics and Payroll processing, Day to Day HR Activities with the adoption of disruptive technologies like AI, Chatbots, Robotic Interviews, HR Analytics and many more.
What kind of products is Zing offering now?
We are currently offering products which are helping enterprises right from Business Continuity, Sustainability, and Productivity. This is by helping Enterprises and Business Owners ride through the New Normal Business Curve. As we all know more and more industry leaders are trying to convert Fixed Costs to Variable costs. This is where we could actually play a pivotal role in your employee lifecycle management processes.
For efficient functioning, what kind of technologies is Zing adopting to?
We are catering to the latest tech disruptions like Artificial Intelligence, Deep Learning, Machine Learning, in order to provide cutting edge solutions for all HR related operations. On the tech front, we have state of the art HCM system which can help Enterprises deliver the Business Outcomes from your HR Function and it can be the key to creating strategic and cultural change to become more effective and competitive.
Do you think the dependence on technology has aggravated while working remotely?
Specially when most of the world is remote working and WFH, we think it is imperative that people are well connected and collaborative. Technology plays a super vital role. HRTech e.g. binds the entire curve of employee life cycle right from hiring to retiring and also ensuring the Continuity and Productivity of business is kept intact.
What do your finances look like? Have you raised funding yet?
In totality, we have just raised about $ 2.5 mn and achieved a run rate of $7 mn ARR, which is being considered by many industry experts as a very frugal way and a highly capital-efficient way of creating a profitable SaaS company. Our revenue so far has been cash positive. The response from the market for HRtech is growing and as an essential product commodity, it is bound to multiply in the coming time. We see a huge surge coming in.
What are your immediate and longterm milestones like?
We currently are focussed on India, ME and SEA markets. However, on the long terms basis, we are looking to have deeper connections with our customers, specially in the Enterprise and SMB sections.
Any takeaways for the wannabes’?
Two words of advice:
- Make sure you solve an existing problem in the market and build something that the market or the world needs.
- Ensure you focus on your business idea for validation and understand the product-market fit so that you have a product that the TA really wants and uses.
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