uKnowva HRMS - Secure and User-Friendly Workforce Management Solution
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Be it a small, medium scale, or large organization, all types of businesses need HRMS software to manage their workforce efficiently. HRMS facilitates employee satisfaction and productivity and helps the Human Resource department with all the employee details and their activity tracks. As entrepreneurship is evolving with advancements in technology, the need for HRMS software is also increasing. Human Resources Management Software (HRMS) Market is estimated to hit 33.57 Billion by 2030. Different Businesses need different software to manage, develop and engage their workforce. uKnowva HRMS provides a holistic HRMS to systematically acquire, manage, develop, and engage your employees. It has all the advanced features like dashboard and analytics, E-recruitment, automated payroll & appraisal management, and more. It can be fully customized according to your business needs.
Read the startup story of uKnowva, its founders, product, growth, and more about it.
uKnowva - Company Highlights
| Startup Name | uKnowva |
|---|---|
| Headquarters | Mumbai |
| Industry | HRMS |
| Founders | Vicky Jain, Priyanka Jain,and Abhay Talekar |
| Founded | 2012 |
| Website | uknowva.com |
uKnowva - About
uKnowva - Industry
uKnowva - Founders and Team
uKnowva - The Idea and Startup Story
uKnowva - Name, Tagline, and Logo
uKnowva - Product
uKnowva - Business Model
uKnowva - Customer Acquisition
uKnowva - Challenges Faced
uKnowva - Marketing
uKnowva - Growth
uKnowva - Advisors and Mentors
uKnowva - Acquisitions
uKnowva - Competitors
uKnowva - Tools Used in the Company
uKnowva - Recognition and Achievements
uKnowva - Future Plans
uKnowva - About
uKnowva is a cloud-based HRMS that offers a secure and private platform to employees for engaging in seamless communication and networking, knowledge-sharing and utilising the capabilities of high-yielding tools to attain increased productivity and accelerated growth.
Their vision is to become the world's SMARTEST HR platform. SMART means 360 degree HRMS software that is easy to use and administer, cost-effective and highly intelligent.
They work with the core belief that growth should be encouraged within the organisation and that work should be enjoyable. They constantly adapt their approach and embrace transformation to stay ahead of the curve.
uKnowva - Industry
There are nearly 3 billion employees/workers across the globe as per the World Bank Data, which makes the overall market size to be around 24 billion USD per year. The HRMS market is gaining significant traction. HRMS provides digital solutions to manage human and material resources with versatility. Using HRMS results in increased efficiency through minimal errors due to automation of manual HR activities and assists HR departments to analyze the organization's operational trends. Also, the rapidly evolving IoT and wireless technology have a positive impact on the market value. According to a report by Market Research Future (MRFR), the HRMS market is forecasted to reach USD 33.57 billion by 2030, growing at a CAGR of 12.2%.
Additionally, the cloud-based HRMS segment is anticipated to gain more traction during the forecast period.
uKnowva - Founders and Team
Vicky Jain, Priyanka Jain, and Abhay Talekar have founded uKnowva in 2012.
After completing his engineering and MBA, Vicky Jain started to learn languages like Java, Oracle and Applets. It was when his cousin asked him to develop a certain software, life took him to a new course. His work was well appreciated and he got a complete assignment to build a website for his cousin’s company. Vicky along with Priyanka Jain, who also completed her engineering at the same college, worked on this project. As work started to come in, they decided to set up a company, Convergence Services. Since they started off as a service company they had to go through numerous challenges while developing their first flagship product, uKnowva. Vicky, Priyanka and Abhay Talekar (also co-founder of Convergence Services) started uKnowva back in 2012. While they all have individual roles to play within the organisation, they all come together to make sure that the business operates smoothly. It takes plenty of time and energy to juggle everything involved. Startup founders need to be self-motivated to keep up with the challenges at all times.
uKnowva - The Idea and Startup Story
uKnowva initially started off as a web development company. They created a few tools for better collaboration and people management, internally. When some customers approached them with similar requirements, they came to realize that this could be developed as a product and offered to consumers. They then tweaked some of its features and gave it to a few customers like Prime focus technologies, Capital first, etc., and the response was awesome. That gave them the confidence to take this initiative to a whole new level to develop uKnowva HRMS.
uKnowva - Name, Tagline, and Logo
Vicky Jain and Priyanka were in Lonavala, Maharashtra just brainstorming on the ideas to keep an apt name for the start-up. Their main objective was to have the letters U, V and W in the name as some renowned numerologists had suggested keeping U, V and W in the startup name to attract good growth. And after hours of brainstorming, they decided upon the name uKnowva. The logo was designed by Priyanka who is the creative director and the tagline of extending collaboration was adopted over a period of time.
uKnowva - Product
uKnowva HRMS has every core component of Human Resource Management starting from an employee directory to a self-service portal to automated payroll to leave management and work reports to a special disability feature to virtual biometrics and much more that employees and HRs love to use. By adopting uKnowva's HRMS, one can step up productivity and manage everyday activities much more efficiently. The Employee Payroll system automatically calculates salary from the data available i.e. leaves, investment declarations, holidays, tax deductions etc. Virtual attendance management allows employees to punch in and out from any device. Also, uKnowva is the first HR tech company in India to launch the disability feature within uKnowva HRMS for visually challenged employees.
Easy to use, Cost-effective, Intelligent and Flexible are some of the major USPs of their product. In general, cloud-based HRMS are developed to be intuitive and user-friendly to those who need to access or use them. That’s why uKnowva's HRMS has been designed keeping the end-user in mind, based on the requests/suggestions of real HR and payroll administrators.
Ria Puneyani
uKnowva - Business Model
Our's is a SaaS based product and the pricing model is simple with per user per month pricing, which starts at USD 2 per user per month.
uKnowva - Customer Acquisition
uKnowva had a few customers who appreciated uKnowva product and the word of mouth also proved to be beneficial. They tried to onboard their existing customers initially. Other than that, they focused their efforts on building their website and enhanced their SEO efforts to reach out to more customers. This significantly helped them to expand their customer base and strengthen their efforts to maintain business continuity.
Over the years, while they have invested in increasing their reach and making more businesses aware of what they do and how uKnowva can help, a good product and support system has helped them retain their customers. So far, attracting new customers has worked best via referral channels.
uKnowva - Challenges Faced
While they were transforming from a "Service" company to a "Product" company, the major challenge was changing the mindset of the people involved. Initially it was like they visited the customers and asked them about their requirements and then built a product based on their needs or preferences. But, while transforming into a "product" company, things changed completely as they needed to ask themselves what would customers need and then build it and sell it to the customers. This entire process actually involved a change in the mindset of the entire team which was the biggest challenge. They overcame it through regular sessions with the team and made them understand how to think like a product owner.
uKnowva - Marketing
When it comes to content and social media, their main focus is on brand awareness and organic visibility. uKnowva is mostly active on Linkedin and they don't promote and/or boost their posts or campaigns as such. It's all organic and for brand awareness predominantly.
They had done a campaign called #InsideuKnowva where they introduced relevant topical memes featuring Shark Tank India. The memes garnered good impressions.
Also on Quora, they have crossed 65,000 views within a span of 2 months. Their polls do extremely well and garner good impressions on LinkedIn.
uKnowva - Growth
As technology continues to be at the forefront of a transforming business environment, there are vast opportunities for growth for HR tech companies. So far, their journey has been satisfactory and uKnowva is doing pretty well in terms of growth, innovation, and extending its footprint. They have more than 75+ customers with a doubling ARR per year. uKnowva is all set for further developments in the future.
Muskaan Kapoor
uKnowva - Advisors and Mentors
These are the people who mentor/advise the startup:
- Ganesh Sankaran: COO and Business Head-WUBS & New Initiatives at Weizmann Forex Ltd
- Deepak Agarwal: Cofounder and CEO at TurboHire
- Krishna Kabra: Head of Major Service Center, Orange Business Services
- Ranu Parwal: COO & Business Head at Weizmann Forex Ltd.
uKnowva - Acquisitions
uKnowva acquired a company called Apptroid which is a digital agency helping businesses of all size get a better return from online activities like Website Design, Mobile Apps Development , SEO, etc.
uKnowva - Competitors
Following are some of the top competitors of uKnowva:
uKnowva - Tools Used in the Company
A few tools that they use to run the startups are:
- uKnowva HRMS
- Metabase
- Azure Dev Ops
- Intuit
- Zoho CRM
uKnowva - Recognition and Achievements
uKnowva recently received the “Entrepreneurial Company of the Year” award from Frost & Sullivan. The award recognises the efforts in keeping growth and innovation at the forefront of their vision while effectively addressing upcoming new opportunities and challenges for their business. In the Product Excellence Matrix Report in 2014 by Nasscom in association with Frost and Sullivan, uKnowva was featured in the “Unified Communication And Collaboration" category.
uKnowva - Future Plans
Currently, they are focused on increasing its footprints in India and the MENA region. The MENA region has huge potential for Indian technology start-ups as the region has a highly diverse, tech-savvy and distributed workforce whose priorities are flexibility and ease of access in their flow of work. The countries they are basically targeting include KSA, UAE, and Egypt to start and then we'll cover the complete gulf region. Few customers they have onboarded in the MENA region are Ravin, Masdar, Khansaheb, Puregroup, etc.
FAQs
Who is the founder of uKnowva?
Vicky Jain, Priyanka Jain, and Abhay Talekar are the founders of uKnowva.
When was uKnowva founded?
uKnowva was founded in 2012.
What is uKnowva HRMS?
uKnowva HRMS is Human Resource Management tool that offers employee directory, automated payroll, leave management, work reports, and more employee management features.
Who are the competitors of uKnowva?
Top competitors of uKnowva are:
- Darwinbox
- Keka
- Oracle Peoplesoft
- SAP Successfactors
- Workday
- ZingHR
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