Employee management solutions provider Cnergyis is planning to concentrate on the public sector to drive its growth. In the business of HR-Payroll-Compliance-Income Tax Services and Solutions this company is celebrating a decade of its existence. Pravda Godbole spoke to Prasad Rajappan, Founder and Managing Director, Cnergyis about a target of processing more than 5 million pay slips every month by the year 2012 amongst other things
Cnergyis provides solutions to companies in which areas?
We provide our solutions to various sectors like BFSI, Retail, IT and Pharma, evolving practical solutions right from eRecruitment, Leave Management, Reimbursements, Income Tax, Online Attendance, ePayslips, web-based Payroll, Statutory Compliance, MIS, Performance Appraisal, Cost Centre Accounting and many other features.
What is the motive behind taking up a 5 million pay slips every month target?
The virtually untapped Indian Industry is and waiting to be discovered. The estimated Indian market size is about 80 Million employee records. We, all of us outsourcing players put together, are currently addressing about 4 percent of the market. Given these numbers, it is not an impossible task.
What are plans for the immediate future?
We are a premier entrepreneurial company in the process of making a revolutionary difference in HR with its End-to-End Employee Life Cycle Management Solutions and Lean HR strategies. We have an excellent presence in Middle East, Singapore, Srilanka and Bangladesh and are looking to spread their wings to Hong Kong and Malaysia shortly.
We are looking forward to foray into public sector as we see a huge potential there and have already partnered with MKCL (Maharashtra Knowledge Corporation Limited) for the same. We are also planning to expand to close to 2000 people from the current 160 as a part of our aggressive expansion plan. We want to be the undisputed leader in Employee Lifecycle Management Services. Cnergyis would be the benchmark of the industry and the organization that set standards to the industry.
Which are the companies Cnergyis has provided services to?
With over 150 clients to our credit, we have worked with the likes of industry leaders across verticals like HDFC, Reliance, The Future Group, Bajaj Finance, Cisco WebEx, Standard Chartered and Cipla amongst others to empower their HR Department in true sense.
Who are your competitors?
Cnergyis’s suite is consisting of a perfect blend of Platform, Processes and Practices. We face competition from product players as well as pure play services player.
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What are the common challenges a company working in this space encounters?
The common problems faced by companies are related to manpower planning and performance management. They are the key drivers for any organization. Optimal usage of manpower resources with an effective appraisal is a must for any organization.
Do you have a pan India presence?
Yes. We are strategically located at Mumbai, Pune, Hyderabad, Bangalore, Delhi and Chennai.
What is the kind of market share that Cnergyis enjoys?
This is an evolving market. The market potential is huge – especially when all the market players put together – is currently servicing about 4 percent of the market. Cnergyis is one of the industry leaders and is one of the top 5 organizations in the country.
What are your expansion plans?
Currently we are in Middle East, Singapore, Sri Lanka and Bangladesh and are looking to enter the markets of Hong Kong and Malaysia shortly. We are in the process of implementing an aggressive, 3 year rollout plan - which will see Cnergyis growing from a 160 employee organization to a 2000 employee global organization by end 2012.
Can you share some targets with us?
Incorporated in the year 2000 we have a revenue of Rs 6 crores and are planning to grow to Rs 78 crore by 2012.
What kind of innovative in-roads has the company achieved so far?
We are the first ones to introduce the e-filing concept in India by enabling the Income Tax of India Go Electronic and introduced the S A A S +Service Model In India.