Today we use mobile and electronic devices, not just for sending messages or receiving calls but also for ordering products or services and paying for them. Ask anyone who owns a business about how hard it’s to take care of employee’s data, attendance, salary, and other important information. For giant businesses, there’s HR staff, yet because of the accounting department, available all the time that handles salary, attendance, and other staff. But when it involves small businesses they only don’t have that sort of resources and also the same goes for middle businesses whether or not they will hire someone to try and do these tasks, it just seems reasonably a waste of cash. That’s why business owners tend to try and do it by themselves hence spending their precious time on accounting further as on staff management. This is where the demand for an app like Pagarbook initiates.
PagarBook was founded last year, in 2019 by Adarsh Kumar and Rupesh Mishra and this platform basically aids Micro, Small and Medium Enterprises (MSMEs) in managing the salary and attendance of its workforce so as to save lots of time, effort, energy and to keep up transparency with the worker. They previously founded GyanApp, a knowledge-sharing platform for non-English speaking Internet users. According to PagarBook’s website, the corporate has 700K active businesses who are using the app and it manages payroll of over 3 million employees. The app also enables businesses to get salary slips, send notifications and generate invoices.
The easing lifetime of people
PagarBook helps SMEs save time on overseeing and maintaining participation records, accelerating instalment cycles, decreasing debates, taking away human mistakes in pay figuring, instalment of compensations, and different parts of human asset the board through an easy to-utilize labour pool the executives’ application. PagarBook lets small companies maintain attendance, salaries, advance payments, payroll management. Its mobile app is available in 12 languages including Hindi, Hinglish, Gujarati, Punjabi, Bengali and Tamil. The company claims to grown significantly during the COVID-19 because of lockdowns and post that phase, because of digital India. This wave of digitisation that struck India with the launch of affordable internet at 4G speeds has played an exceptional role in the success of such online businesses.
The main aim is to make something that drastically improves the standard of lifetime of the non-metro people.
Digitising and using PagarBook for the task will help enterprises to stay digital attendance records of every employee and entering and leaving the premise, speed up payments by digitally calculating the salary of every employee supported the times he/she showed up which ultimately reduces human errors while calculating and avoids disputes with workforce regarding payment or leaves he/she took. Everything is digital and everything is transparent between both parties with PagarBook.The company also announces for adding new financial services like credits and payment options for Micro, Small and Medium Enterprises and its employees within the months to come back.
PagarBook has raised approximately Rs 15.2 crore and Rs 30 lakhs from Surge Ventures and Kunal Shah’s QED Innovation respectively. Employee management app PagarBook is in advanced talks to boost $7 million from Sequoia Capital. PagarBook had raised a seed round from India Quotient and Sequoia Capital India’s rapid scale-up programme Surge.
In the past seven months, the app has gone from some thousand to quite five million downloads on the Google Play Store. India’s 60 million SMEs and its 400 million large workforces contribute about 30 per cent of India’s GDP but still lack behind a verified financial and professional footprint in any organised technology ecosystem. As a result, they’re omitted from the mainstream financial ecosystem. PagarBook addresses this massive gap with its digital human capital platform for SMEs.It is present in 6000+ pin codes across India, launching in 10+ Indian languages. Across salary management, attendance recording, advance salary solutions and payroll management, PagarBook helps business owners save time, the sole irretrievable commodity.
PagarBook has over 4 million SMEs registered on the platform and has now onboarded Akshay Kumar as the brand ambassador. The main motive of the ambassadorship is to increase the visibility for PagarBook in its efforts to succeed in 10 million registered users by 2021. Speaking of the partnership, Akshay Kumar said, “PagarBook’s USP is that it truly represents the spirit of Atmanirbhar Bharat, something I’m very dependent on. to possess touched the lives of such a large amount of small and medium business owners in an exceedingly short span of six months and impact the way they run their business is outstanding, which is that the quite performance and keenness I support.” PagarBook has initiated campaigns that have a series of feature films’, demonstrating how PagarBook’s features are assisting small and medium scale businesses to professionalize their systems for more convenience, efficiency and profitability.
PagarBook is among a growing number of startups operating within the broader human resources and performance management segment within the country.