ZingHR: Future of The Hire-to-Retire Plan

ZingHR: Future of The Hire-to-Retire Plan
Future of The Hire-to-Retire Plan

The HR tech sector has experienced incredible expansion and innovation in recent years, completely changing how businesses handle their workforces. Technology has advanced, especially in fields like cloud computing and artificial intelligence. As a result, HR tech solutions have grown more complex and provide a wide range of tools for streamlining and optimizing different HR procedures.

From hiring and onboarding to performance management and offboarding, these solutions cover every stage of the employee lifecycle. HR tech platforms give businesses useful insights into labor trends through the use of data analytics and machine learning algorithms. This helps businesses make strategic initiatives and decisions.

ZingHR is a prominent participant in this ever-changing HR industry, specializing in artificial intelligence-powered cloud-based HR solutions. ZingHR's creative strategy, which includes voice help enabled by Google Assistant, is an example of the industry's dedication to using state-of-the-art technology to improve productivity and efficiency in the contemporary workplace.

ZingHR continues to be at the forefront of digital revolution in HR procedures, enabling companies to manage their workforces strategically and stimulate long-term growth.

So this article will give you all the information about ZingHR founders, funding, growth, competitors, and more.

ZingHR - Company Highlights

STARTUP NAME ZINGHR
Headquarters Mumbai, Maharashtra India
Sector HR Technology
Founders Prasad Rajappan, Ravi Bajaj and Venkat Balan
Founded 2016
Website zinghr.com

ZingHR - About
ZingHR - Industry
ZingHR - Founders and Team
ZingHR - Startup Story
ZingHR - Name, Tagline and Logo
ZingHR - Mission
ZingHR - Offerings
ZingHR - Business Model
ZingHR - Revenue Model
ZingHR - Funding and Investors
ZingHR - Growth
ZingHR - Recognitions
ZingHR - Competitors
ZingHR - Future Plans

ZingHR - About

ZingHR is an HR startup that focus on empowering the workforce to strategically expand businesses. ZingHR establishes a digital workforce that is well connected and well informed. It consists of a Hire-to-Retire plan that eases the employee user experience. ZingHR has also added voice assistance powered by google assistant, which only increases the ease of user experience.

It is an active software solution that works continuously the organization's HR operations. It's multilingual software that provides support in 21 languages. ZingHR specializes in the recruitment process. It has robotic interviews that work in real-time. It even has a machine learning system that increases hiring by 92%.

ZingHR - Industry

According to a report by Fortune Business Insights titled "Human Resource Technology Market Forecast, 2023-2029," the global Human Resource Technology market was valued at USD 22.90 billion in 2021. According to the report, the market is expected to develop significantly and reach USD 39.90 billion by 2029, with a strong compound annual growth rate of 7.5% throughout the forecast period.

This thorough analysis demonstrates how the demand for effective labor management and digital transformation projects has led to a global increase in the adoption of HR technology solutions across a range of industries. The research highlights the market's potential for growth and innovation and stresses how technology will play a significant role in transforming human resource management in the future.

ZingHR - Founders and Team

ZingHR was founded in 2000 by Prasad Rajappan (Co-Founder and Managing director), Ravi Bajaj, and Venkat Balan.

Prasad Rajappan

Prasad Rajappan (Co-Founder and Managing Director) of ZingHR
Prasad Rajappan (Co-Founder and Managing Director) of ZingHR

Prasad Rajappan is the Co-Founder and Managing Director of ZingHR. He has a bachelor's degree from KES College of Engineering and done MBA from Narsee Monjee Institute of Management Studies. Before founding ZingHR, he worked in Reliance Industries Limited as GM and in SAP projects, and before that, he worked in EY and Mahindra and Mahindra.

Ravi Bajaj

Ravi Bajaj is the Co-Founder of ZingHR. He has a bachelor's from the University of Mumbai. Before founding ZingHR, he worked at Cnergyis Infotech India Pvt. Ltd. as Director of Information Technology, and before that, he worked at Enron Oil and Gas India Limited, Crest Computer Education, and BITS Computers.

Venkat Balan

Venkat Balan is the Co-Founder of ZingHR. He earned his bachelor's from Shivaji University and his MBA from NMIMS, Mumbai. Before joining ZingHR, he worked at Cnergyis Infotech India Pvt. Ltd. as a director, and before that, he worked for many companies like Quinnox Consultancy Services Ltd., Patni Computer Systems Ltd., Birla Management Corporation, vCustomer, and Godrej GE Appliances Ltd.

ZingHR - Startup Story

Prasad Rajappan, who started an HR consulting organization, Cnergyis, in 2006 in Mumbai, thought of launching a cloud platform with the idea of covering the entire spectrum from hire-to-retire, but he did not want to address it from an HR automation perspective.

Therefore, ZingHR was born in 2014 as a cloud-based Human Capital Management (HCM) solution covering the entire spectrum from hire-to-retire to an end-to-end HCM solution with a focus on small and medium enterprises.

Additional to that, ZingHR wanted to give customers the simplicity of social media on an HCM automation app, thus allowing them to do HR management right from their mobile.


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ZingHR Logo
ZingHR Logo

ZingHR tagline is "LET'S TALK OUTCOMES."

The legal name of ZingHR is "Cnergyis Infotech India Pvt. Ltd."

ZingHR - Mission

ZingHR mission is "to enhance your company and empower your employees through improved HR practices and resources."

ZingHR - Offerings

ZingHR is a smart Human Capital Management platform that empowers businesses with Enterprise Cloud Application Solutions for Human Capital Management. ZingHR adopts an employee-eccentric, mobile-first approach covering the entire spectrum from ‘Hire-to-Retire Processes’. With the cloud application solutions, it aims to help increase in margins, impact business outcomes, and increase people engagement.

ZingHR delivers Talent Management, Learning Management, Time & Attendance, Payroll, Talent Acquisition, Travel & Expense Management, Life cycle, Off-boarding with a layer of cutting-edge technologies, including analytics, Artificial Intelligence, Machine Learning, Voice Bots, Face Recognition.

ZingHR’s cloud-based and SaaS modeled product provides real-time transactions, reduces administrative effort, and increases data quality. It provides a clean and uncluttered user interface for its users. It also provides easy integration with existing systems and faster deployments, supported by the best-in-class security platforms and a multi-tenant architecture.

ZingHR plans
ZingHR plans

ZingHR - Business Model

ZingHR uses a subscription-based business model, with several subscription plan tiers catered to the requirements and sizes of enterprises. The platform offers cloud-based HR management solutions that address employee engagement, talent acquisition, workforce management, and other areas. The scalable business model of ZingHR serves companies of all sizes, from startups to major multinational corporations.

Its core proposition is centered around providing all-inclusive HR solutions via an intuitive cloud-based platform. Furthermore, ZingHR provides scalable and affordable HR solutions with its cloud-based pay-per-use Software-as-a-Service (SaaS) model, which enables businesses to access particular features or services whenever needed and only pay for what they use.

ZingHR - Revenue Model

ZingHR makes revenue via its pay-per-use Software-as-a-Service (SaaS) model, which is cloud-based and gives businesses the option to pay only for the HR management features or services they really use. This source of income supports the platform's subscription-based business model, which requires employers to pay a certain amount to access ZingHR's whole array of HR management products.

ZingHR's pay-per-use software as a service (SaaS) model offers extra revenue prospects for the company based on the utilization of specific features or services by its clients. This model caters to organizations who are looking for more flexible and cost-effective choices for managing their human capital.

ZingHR - Funding and Investors

ZingHR has raised $13 million to date from four rounds of funding.

Here are the funding details:

Date Funding Round Amount Investors
Jan 17, 2022 Venture Round $10 million Tata Capital
Jun 11, 2018 Venture Round - -
Jun 30, 2017 Venture Round - Zeta
Jan 22, 2014 Venture Round - -

ZingHR - Growth

ZingHR: growth highlights are:

  • It has 1100+ worldwide customers as of March 2024
  • It has 2 million+ active customers as of March 2024
  • The company has 30+ HCM Modules as of March 2024
  • It has 26+ global languages as of March 2024

Financials

ZingHR Financials
ZingHR Financials
ZingHR Financials FY22 FY23
Operating Revenue Rs 55.77 crore Rs 84.48 crore
Total Expenses Rs 66.05 crore Rs 106.69 crore
Profit/Loss Loss of Rs 11 crore Loss of Rs 20.56 crore

EBITDA

ZingHR Financials FY22 FY23
EBITDA Margin -17% -23%
Expense/Rs of Op Revenue Rs 1.18 Rs 1.26
ROCE -17% -54%

ZingHR - Recognitions

ZingHR: recognitions are:

  • It won the CIO Choice 2017 Award in HR and Global Payroll Services for the SME category
  • ZingHR won the ISV Partner of the Year award at the Microsoft Summit 2016
  • It is also recognized by the Gartner in top 10 HCM Suites

ZingHR - Competitors

ZingHR competitors are:

  • Darwinbox
  • greytHR
  • sumHR
  • tomHRM

ZingHR - Future Plans

ZingHR, a ground-breaking domestic company that specializes in automating HR procedures across numerous industry verticals, disclosed big ambitions for growth in a big announcement made in May 2023. Strategically focusing on international markets, ZingHR announced that it plans to expand into important areas of the current fiscal year, such as the UK, Europe, Japan, and a few African nations.

In order to support these expansion initiatives, the company plans to hire twice as many people—from the present base of 625 employees to an astounding 1,200. ZingHR's strategic growth plan demonstrates the company's dedication to expanding its operations globally and securing its leadership position in the HR technology industry.


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FAQs

What is ZingHR?

ZingHR, an Indian technology company, develops a cloud-based workforce management platform that uses artificial intelligence to facilitate or automate human resources tasks throughout the employee cycle, including recruiting, training, and performance evaluation.

Who is the founder of ZingHr?

The founder of ZingHR is Prasad Rajappan, Ravi Bajaj and Venkat Balan.

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