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NeeyamoWorks - Next Generation HCM Technology 2021
Vendor Analysis
published on Jul 16, 2021
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Report Overview:
This NelsonHall assessment analyzes NeeyamoWorks' offerings and capabilities in Next Generation HCM Technology
Who is this Report for:
NelsonHall’s HCM technology profile on NeeyamoWorks is a comprehensive assessment of its offerings and capabilities, designed for:
- Sourcing managers monitoring the capabilities of existing suppliers of HCM technology platforms and identifying vendor suitability for RFPs
- Vendor marketing, sales, and business managers looking to benchmark themselves against their peers
- Financial analysts and investors specializing in the HR technology and services sector.
Scope of this Report:
The report provides a comprehensive and objective analysis of NeeyamoWorks HCM Technology offering, capabilities, and market and financial strengths, including:
- Identification of the company’s strategy, emphasis, and new developments
- Analysis of the company’s strengths, weaknesses, and outlook
- Revenue estimates
- Analysis of the profile of the company’s customer base including the company’s targeting strategy and examples of current contracts
- Analysis of the company’s offerings and key service components
- Analysis of the company’s delivery organization including the location for key centers.
Key Findings & Highlights:
NeeyamoWorks, formed in 2018 and headquartered in Chennai, India, is a wholly-owned subsidiary of long-tail HR and payroll services provider Neeyamo. NeeyamoWorks was launched to specifically focus on developing future technology solutions designed to integrate and complement Neeyamo's broader managed HR services offering.
Since its inception, Neeyamo has dedicated >20% of its annual revenues toward R&D efforts through NeeyamoWorks, which has organically developed its HCM technology platform of the same name, which supports >600k active users globally.
In early 2021, Neeyamo launched a platform-based technology and managed services offering called TailoHR, combining its deep HR and payroll services capability, enabled by the NeeyamoWorks HCM technology platform. The solution offers adopting firms a highly localized, preconfigured, rapidly deployable, bundled offering designed to support multi-national, long-tail footprints.
NeeyamoWorks provides its proprietary HCM technology as a modular offering. The platform is built on a single database. It is a cloud-native, multi-tenant solution hosted on the AWS virtual private cloud infrastructure with prebuilt integrations to common HR technology platforms. The platform provides a technical and functional layer and is highly localized for long-tail country footprints, supporting 120 languages and offering customizable fields to support unique data requirements.
NeeyamoWorks includes the following modules:
- Employee Hub: HR system of record for maintaining employee core data
- ServiceDesk: an integrated helpdesk ticketing system
- Pay: global payroll management system, designed to deliver end to end automation of payroll processes through native proprietary engines across 57 countries (23 additional planned)
- Docket: employee records management system
- Compliance: HR compliance management module
- Time: Time management system including bio-metric capability and integration to client time clock hardware
- Absence: Absence Management solution
- Expense: Expense management system
- DocGenX: HR document generation system
- Screening: international background verification system
- Post: Employee collaboration platform
- Survey: a tool to gain employee consensus on any given topic.
NeeyamoWorks targets its platform to multi-national firms midsized businesses seeking HCM technology with highly localized capability. The platform is specially designed to cater to multi-national organizations with long-tail presence and thus doesn't target a specific employee count threshold for its adoption, as employee volumes can vary from single digits to thousands depending upon the size and global footprint.