Targeting the small and medium enterprises of the country, Excelity Global – one of India and Asia Pacific’s largest payroll service providers has come up with a cost-effective SaaS-based payroll solution – ezpayroll.
Priced at Rs 9.99 per person, ezpayroll addresses the entire gamut of modern and complex payroll needs of SMEs to ease the administrative burdens associated with payroll processing, government-related compliance and scaling up with growing needs. At the same time, it provides employees with tax saving options.
With a vision to simplify HR with affordable product, the company has been working on the platform for almost a year to make it a cloud-based solution. Excelity Global’s MD (India & SAARC) Sumit Sabharwal shared that the ezpayroll is a ‘do-it-yourself’ model which can be used by any person in an SME business, for eg, an admin, to simplify their payroll processes. The ezpayroll (Rs 9.99/person) is targeted SMEs with less than 750 employees.
The Platform was already available to their own customers and clients – Excelity manages almost 1.2 million payslips a month. By making it affordable and available to the SMEs, the company aspires to have the first-mover advantage in this space.
The ezpayroll comes with standard and flexi-payroll processing, self-to-do implementation and migration, full and final settlement – the capability to process ‘full and final’ for a single employee or multiple employees, payroll compliance updates available as quick notification, quarterly eTDS reports, other reports such as salary register, employee master, etc. and all statutory reports.
This product is aimed at simplifying HR solutions to SMEs with the package starting from three months, and renewable every month thereafter, and also annually. The first month is a free-look. Which means if a company, for some reason cannot sync in their system to the solution, then the company has the option to move out. For a 50-employee organization, the quarterly payment for opting for ezpayroll will be about Rs 1500.
Sumit said, “Our ezpayroll will provide cloud-based, easy-to-use, workforce management solutions and employee self-service benefits such as meal vouchers and medical reimbursements that will allow businesses to save time, money and gain control of their workforce by ensuring all areas of their staff administration is fully streamlined for efficiency and effectiveness.”
SMEs play a pivotal role in country’s economic growth. India has more than 51 million small-to-medium sized enterprises where they provide employment to around 120 million persons. In 2017, SMEs are expected to create the bulk of employment and are estimated to add over 1.3 million jobs per year.
Inundated with interests from various SMEs within a week of its launch in India, Sumit shared that the ezpayroll will be available across 20 countries over the next quarter. The product will eliminate inefficiencies that small companies typically have to deal with in terms of employee benefits and expense management process.