Zimyo: A Startup That Simplifies HR and Payroll Management Using AI

Zimyo: A Startup That Simplifies HR and Payroll Management Using AI – Human resources (HR) and payroll are essential functions for any organization, as they deal with the most valuable asset of the business: the employees. However, managing HR and payroll can be a complex, tedious, and costly task, especially for small and medium enterprises (SMEs) that lack the resources and expertise to handle them efficiently. That’s why Zimyo, a Gurugram-based HR-tech startup, has developed a cloud-based HR and payroll software that uses AI to help SMEs streamline and automate their HR and payroll processes, and enhance their employee experience.

We will explore some of the features and benefits of Zimyo, and how it is empowering the SMEs in India.

Zimyo

Details of the startup:

  • CITY : Gurugram
  • STATE : Haryana
  • STARTED IN : 2018
  • FOUNDERS : Ajay Kadyan and Kumar Mayank
  • NUMBER OF INVESTORS : 10
  • LATEST ROUND INVESTMENT : ₹170.00M
  • TOTAL INVESTMENT : ₹278.90M
  •   TOTAL SECURED LOANS AVAILED : Nil

You can find their website here.

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What is Zimyo?

Zimyo is an HR-tech startup founded by Ajay Kadyan and Mayank Pratap Singh in 2018. The co-founders, who have over a decade of experience in the HR and payroll domain, wanted to create a solution that would cater to the specific needs and challenges of the SMEs in India. They realized that most of the existing HR and payroll software in the market were either too expensive, too complicated, or too generic for the SMEs, and decided to build their own product that would be affordable, easy-to-use, and customized for the SMEs1.

Zimyo has developed a cloud-based HR and payroll software that provides a complete HRMS solution for everything from hire to retire. Zimyo’s software helps SMEs manage their HR and payroll operations, such as employee management, attendance and leave management, performance management, talent acquisition, payroll processing, compliance management, and more. Zimyo’s software also uses AI to provide smart recommendations, insights, and analytics to the SMEs, and to improve the employee engagement, satisfaction, and retention.

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How does Zimyo work?

Zimyo works in three simple steps:

  • Sign up: Zimyo allows the SMEs to sign up for its software using their email address or phone number. Zimyo offers a free trial for 14 days, and a flexible pricing plan based on the number of employees and the features required. Zimyo also provides a dedicated account manager and customer support team to help the SMEs with the setup and implementation of the software.
  • Set up: Zimyo enables the SMEs to set up their HR and payroll processes using its software. Zimyo provides a user-friendly interface and a no-code configurator that allow the SMEs to customize their HR and payroll policies, workflows, and reports according to their preferences and requirements. Zimyo also integrates with various third-party applications and platforms, such as Google Workspace, Zoho, QuickBooks, Razorpay, and more, to provide a seamless and holistic experience to the SMEs.
  • Manage: Zimyo helps the SMEs to manage their HR and payroll operations using its software. Zimyo provides a dashboard that shows the key metrics and indicators of the HR and payroll performance, such as the employee count, attendance, leaves, payroll, taxes, compliance, and more. Zimyo also provides a mobile app that allows the SMEs and their employees to access and update their HR and payroll information anytime and anywhere.

What are the benefits of Zimyo?

Zimyo has many benefits for both the SMEs and their employees. Some of the benefits are:

  • For the SMEs:
  • For the employees:
    • Zimyo helps them to access and manage their HR and payroll information, such as their personal details, attendance, leaves, salary, tax, benefits, and more, through the mobile app or the web portal. Zimyo also allows them to request and approve leaves, download payslips, file tax returns, and more, with just a few clicks.
    • Zimyo helps them to enhance their engagement and satisfaction, as it enables them to communicate and collaborate with their peers and managers, receive feedback and recognition, and access various learning and development opportunities. Zimyo also provides them with various perks and rewards, such as health insurance, loans, discounts, and more, through its partner network.
    • Zimyo helps them to improve their performance and growth, as it enables them to set and track their goals and objectives, participate in performance reviews and appraisals, and access various career and succession planning tools. Zimyo also provides them with smart recommendations and analytics to help them improve their skills and competencies.
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Who are Zimyo’s customers and partners?

Zimyo has targeted the SMEs in India, which account for over 40% of the country’s GDP and employ over 110 million people. Zimyo has focused on the sectors that have a high demand and potential for HR and payroll software, such as manufacturing, retail, e-commerce, education, healthcare, and more.

Zimyo has partnered with various organizations and institutions, such as banks, insurance companies, fintechs, and universities, to provide the best services and support to the SMEs. Some of the examples are:

  • ICICI Bank: Zimyo has collaborated with ICICI Bank, India’s largest private sector bank, to offer banking and financial solutions to the SMEs. Zimyo integrates with ICICI Bank’s API Banking platform, which enables the SMEs to access various services, such as salary accounts, business loans, credit cards, and more, through Zimyo’s software.
  • Care Health Insurance: Zimyo has teamed up with Care Health Insurance, one of the leading health insurance providers in India, to offer health insurance products to the SMEs and their employees. Zimyo provides a customized and affordable health insurance plan that covers the medical expenses, hospitalization, and COVID-19 treatment of the employees and their families.
  • IIT Delhi: Zimyo has joined hands with IIT Delhi, one of the premier engineering institutes in India, to conduct research and development activities on the HR and payroll domain. IIT Delhi also provides mentorship and guidance to Zimyo, and helps them to connect with the alumni network and the industry experts.
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Zimyo is a startup that uses AI to simplify HR and payroll management for the SMEs in India. Zimyo’s software provides a complete HRMS solution that helps the SMEs to automate and streamline their HR and payroll processes, and to enhance their employee experience. Zimyo also connects the SMEs with various stakeholders and services, such as banks, insurance providers, and fintechs.

Zimyo is a part of the digital India initiative, and aims to create a positive impact on the lives and livelihoods of millions of people in the country. If you are an SME looking for a smart and affordable way to manage your HR and payroll, or a stakeholder looking for a reliable and innovative way to serve the SME sector, you should definitely check out Zimyo and make use of its services.

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