Neeyamo, a Chennai-based technology-driven global payroll and HR solutions provider, is planning to hire close to 3,000 employees over the next one year with a specific focus on talents from Tier 2 and 3 cities in the country.

“Last year, we had about 1,500 employees around this time. Currently, we have close to 3,000 employees. We should be increasing it by more than 100 per cent every year and both in India and outside, we have decided to look for talents in Tier 2 and 3 cities,” Rangarajan Seshadri, CEO, Neeyamo told BusinessLine .

Global workforce

At present, 70 per cent of Neeyamo’s total workforce is from India. Manila (Philippines) and Mexico account for another 20 per cent of the workforce while the remaining is spread across the world.

Last week, the company launched an all-women global development centre in Nagpur with a plan to employ 500 women by April 2022. Most recently, it announced the setting up of a second office in Madurai with plans to hire 1,200 employees in the next one year.

Also see: Why and how we should create inclusiveness in the long- tail countries

“We are developing world-class products from places like Madurai, Thanjavur, Erode and Nagpur, which is proof of the talent pool available in the region. And these are not call centre or BPO jobs, but cutting-edge product development used by global Fortune companies,” Seshadri said.

Payroll platform

Founded in 2013, Neeyamo is a global payroll transformation company with a specific focus on servicing under-addressed geographies and under-served markets. Neeyamo’s proprietary global payroll platform is powering Fortune listed global organisations spread across 150 plus countries. The company currently serves over 350 customers and claims to be processing 12-13 million pay slips.

“Most Fortune and global companies will have presence in 50-60 countries, but their employee population will be skewed towards two or three countries while there will be a long-tail of countries with employees in double or single digits,” Seshadri said, adding, “it is very difficult for these companies to deploy technology in such places and so we are focussed on such long-tail regions.”

Currently, 70 percent of Neeyamo’s revenue comes from North America and Europe while the remaining comes from the Asia-Pacific (APAC) region.

Real-time payroll processing

Neeyamo is also building a ‘Global payroll hyperloop’ that will help companies process payrolls in real-time.

“Currently, payroll processes are done in batches. There will be a cut-off date for payroll processing, like the 25th of every month, and inputs have to be sent before that to process payroll for the payday, which will be the 30th or 31st of the month. But we are making real-time or straight-through payroll processing,” Seshadri said.

Also see: Understanding the complexities in managing cross-border payroll

“If an employee works for five days and wants to press his payroll himself on the 6th day, he can now do it. That is the power of the technology that we are using to drive it. We will have a fully-integrated system with the client’s HRIS (human resources information system) so when inputs come in, processing will happen and output will go automatically,” he added.

He said that the company has reached 70 per cent in this journey and by December, a few countries will have this straight through processing system while another 75–100 countries, including India, will have this solution in the next 18–24 months.

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