CIOInsider India Magazine
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Samira Rao
Co-Founder and Director
Getting employees paid right may be an intimidating task when one has to use manual and time consuming methods such as spreadsheets and attendance registers. Business owners may end up paying a heavy price as a small mistake in salaries may result in trust issues with employees. Again, small and medium business owners are rarely aware of all the laws that their organizations need to comply with. At times, companies are likely to end up paying penalties due to non-compliance with the laws. Answering to these needs with the right tools and professional expertise, Payoda Computing India Pvt. Ltd., popularly known by its brand name Paybooks, offers one stop solution in payroll and compliance. Working at some of the leading companies like Mindtree, Oracle, Peoplesoft and others, the co-founders of the company have rich experience in the payroll space.
The Bangalore based firm, Paybooks provides cloud based payroll software, using which the companies can calculate salaries, stay compliant with all statutory laws, and increase employee engagement with employee self service, at a very cost effective subscription fee. Hence, using the Paybooks software, the task which used to take days, now can be done in minutes, encouraging clients to focus on the growth of their core business.
Paybooks Offers both payroll Software and payroll outsourcing services to provide end - to - end solutions
Paybooks maintains a unique approach to keep itself ahead of other competitors in the market. Unlike other players who provide payroll software or payroll outsourcing services, Paybooks offers both which helps in providing end-to-end solutions to customers. As Samira Rao, the Co-Founder and Director at Paybooks says, "We measure our success directly by the success of our customers and that helps us to be completely focused on the customers and not the competitors."
Realizing that innovation takes place
when people with different skills and points of view work towards resolving business problems, all employees at Paybooks are motivated to come up with as many creative ideas as possible. They are given complete freedom to lead the execution of their ideas and are rewarded in return.
The company is exclusively positioned with the right balance of domain and technology exposure. Along with co-founders who have in-depth domain expertise, the company has a strong team of Chartered Accountants, Cost Accountants, and technologists with management degrees. The company serves clients as small as start-up companies with one or two employees to giant companies such as Mjunction and Supermax.
With more than 35,000 users and 1200 customers across India, Paybooks has witnessed more than 100 percent growth year on year. Their biggest achievement is the strategic alliance with Intuit Quickbooks, the world's leading financial management tool for small businesses and accountants. Customers now have a benefit of using both payroll and accounting from a single sign in anywhere and anytime.
Discussing of the future roadmap, Samira explains, "We are looking to integrate our application with other third party applications and leverage the latest technologies to delight our customers with simple but comprehensive payroll solutions."
