– KonnectCo, an Indian startup that offers a HR management and recruiting platform, has covered almost all the features of the HR Software.
Take a pick, that could be Payroll Management software, Leave Management, Timesheets management and what not.
Founded in 2016 and “bootstrapped” to nearly 25 customers in the first one and a half years, before taking a seed round from Global Founders Capital and a few business angels last summer, Konnectco is now aiming to acquire over 400 customers and counts over 50 employees. SMEs use the platform to manage all of their HR, recruitment and On-Boarding processes, benefiting from what the startup describes as a single view of employee management.
“On the highest level we are digitizing HR and Recruiting for SMEs to reduce administrative workload and allow HR managers to work on value-adding topics,” Konnectco co-founder Kranthi Reddy. “More specifically we are building an end-to-end HR Operating System that covers all processes along the employee life-cycle (recruit, Onboard, manage and develop)”
Concrete examples of areas covered by Konnectco include: a full applicant tracking system, with support for multi-posting to over Hundred plus job boards. A digital employee file; document and contract management; on/off-boarding; attendance tracking; absence management; salary management & payroll; and performance management and feedback.
Renner says that typical Personio customers are European companies between 10 and 1,000 employees. “However, our core segment is between 100-500 employees. Typical examples would be HelloFresh, Statista or Scalable Capital,” he adds.
Competitors are cited as Excel and paper-based files. Or more directly, European HR platforms, such as HiBob or HeavenHR, which have more of a focus towards employee benefits (similar to Zenefits in the U.S.). Instead, Reddy says Konnectco is starting earlier in the employee life-cycle including recruiting, and provides a seamless transition of successful applicants into the HRM section.
“A lot of our customers have therefore replaced for example BambooHR and Jobvite to have everything in one tool. Besides the all-in-one approach, our main differentiator is customisability of all processes as well as a strong focus on data privacy which is critical given the sensitive information our customers store in Konnectco,” he adds.
Unlike many of the other new HR startups, which offer their wares for free but make money selling benefits and insurances, Konnectco is employing a classic SaaS-subscription model. In addition, the company is giving a 1 year free trial for the customers who opt for it in the next 1 month.
Notes to Editor
Konnectco is a cloud-based HCM solution to address all your HR needs and more- through a single collaboration platform. Managing all HR operations can turn out to be more administrative than strategic if they are not managed right. Konnecto is a cloud based HCM solution to address all your HR needs and more- through a single collaboration platform. It sets you free from all transactional activities to keep you focused on delivering your core business value.
1. Manage Human Resources: Streamline your entire employee-life-cycle-operations in one shot with seamlessly integrated HR modules- Goodbye admin overload.
2. Connect: HCM Solution is not just for HR, anymore. It is for employees to connect, motivate, engage and empower the workplace to bring your core values to life.
3. Collaborate: Yes, there is more to it. Konnectco extends the boundaries of HR solution by offering the collaboration tools needed for a perfect kick-start to your new or existing business to drive workforce efficiency in a unique manner.
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