0:00:05 : Welcome to The HR Tech Spotlight podcast. I’m Deanna Shimota , CEO of GrowthMode Marketing. The HR technology market is crowded and we know it can be hard to find the best software solutions for your business in the sea of sameness. On this podcast, we shine a spotlight on some of the best up and coming technology options out there. Check it out if you are interested in learning about new, innovative solutions available in the market. And if you are with an HR tech company and interested in being considered for a guest spot, stay tuned for details at the end of the show.
0:00:45 : Hi there. On this episode of the podcast, we are digging in to learn more about Neeyamo, a technology enabled global payroll and EOr solutions provider for multinational and micro multinational corporations worldwide. Working at the intersection of business and technology, Neeyamo strives to deliver best in class solutions by leveraging its global presence in enterprise global payroll technology stack that powers its single global engine.
0:01:14 : Joining me to tell you all about Neeyamo is Vivek Khanna, president and chief client partner at the company. Welcome to the show, Vivek.
0:01:24 : Thank you, . Very happy to be here. Truly excited. Thank you for inviting me to the show.
0:01:30 : Yeah. So tell us about your background in the HR tech space.
0:01:33 : So, I have been involved in the world of outsourcing now nearly for three decades, and two of those decades have been spent in the world of HR outsourcing. I have been involved with enterprise customers, helping them set up HR shared service operations, utilizing your delivery for different processes. Everything from payroll, HR help desks, HR shared services, background verification, learning, et cetera. So I have immense amount of experience helping customers.
0:02:11 : What exactly more is when I meet a customer, look at their challenges and come up with a solution that can exactly make their needs awesome.
0:02:20 : So tell us a bit about Neeyamo and what it does.
0:02:25 : Neeyamo is a 15 year old company started back in 2009, but with a very clear vision. Neeyamo started as a company that would provide HR services and HR operational services, actually HR operation services, to only multinationals. And we’ve been true to our vision. Every customer of Neeyamo today is a multi country operator. So which means they’re not just in one country, they’re in anything from 510 15 all the way to 90 countries.
0:02:59 : And we help them with different processes, primarily two areas Neeyamo is most known for. One is background checks, where we run all sorts of background checks globally. And the second area, which is the subject of our conversation today, is global payroll, when Yamo provides global payroll services to our head customers.
0:03:24 : So one of the things that you and I were chatting about just before we hit record was the difference between EOr and global payroll. Can you talk a little bit about that and what buyers should consider when they’re evaluating the options?
0:03:38 : Thank you. Thank you so much for asking the question. And I know in the industry right now, people are using this word very interchangeably. There is a vast difference. EOr or employer of Rackford, of course, also deals with paying people globally. So to that extent that you are paying talent, yes, that’s the commonality. But the commonality starts and ends there. A lot of ur providers will also be contractors, which means they’re not necessarily your employees, but they are talent that you might have hired somewhere else in the world, even if they act as your employer of rapport.
0:04:17 : Which basically means these companies are also the employee, and in most cases the employee of the employer of record, though prospective, they work for you. So the major difference between an employer of record and a company that uses global payroll is that in case of employer of record, you do not have any legal presence, which means you don’t have a branch office, you do not have a legal entity, you don’t have a permanent establishment in the country in which you have employees, and you’re basically just, and this is typically when you have small number of one or two people in a country, companies, instead of investing, creating their own infrastructure, leverage and employer of record.
0:04:59 : But once a company has anything more than five employees in a country, it’s just not cost effective and just doesn’t give you the control that you would need when you have your own set up your own infrastructure and it’s not expensive, you just need to create and maintain that infrastructure. Could be a branch office, it could be an entity in that country, or it could be a full flooded permanent established as it’s called legally, and that in those circumstances that you leverage a lower payroll provider.
0:05:30 : This also means from a cost perspective, typically an employer of record will charge you anything from $300 all the way to $1,000 per employee per month. Whereas if you are looking in the world of global payroll, could be anything from $5 $25 per employee. So big difference in cost, big difference is the set up. But beware global payroll, lower cost, you need to have your own entity set up. Lawyer, reporter, higher cost, but you don’t need your entity set up. That’s the major difference.
0:06:05 : Thanks for explaining that for our audience. So I know Niyama works with a lot of companies across the globe. What are the big challenges or problems that you see facing HR and payroll departments to date.
0:06:20 : Great question. So the whole dynamic towards global payroll started once company had rolled out global HR system with the popularity of systems like workday, SAS factors, Oracle Fusion, Sage, Ultimate, Chrome, so RT Pro I’m talking about at the enterprise level or if you are at the mid market level, even RT Pro, highball, bamboo, HR. There are many such other systems that are global in nature. And once the company had rolled over this global HR software, we realized that even though they had tried their best to bring in all of the employee data, the critical employee data that was payroll data was not in the HR systems because most HR systems don’t add inbuilt payroll software.
0:07:12 : And inevitably if you are in many countries, you also utilize an external software or an external provider to process payroll fund, which basically meant that the data in the payroll systems was much more current and always available versus your global. So that started. Is there somebody out there that will enable us to bring this together and hence the rise of global payroll industry. Now, if you look in the global payroll industry, it is in my mind divided into two large segments, very large enterprises that tend to leverage software like SAP payroll which is presence in about 40 45 countries and is also sold by ADP or AlI as an add on product.
0:08:03 : Global view or eureka or you go into a smaller enterprise or the mid market segment which gentle use the aggregator models safeguard. There are about ten or twelve fighters in the market use aggregator model to bring this together. Neeyamo of course sits in between these two and I talk about what Neeyamo does. But essentially the idea of global payroll is that you have a single system process payroll in the multiple countries present day.
0:08:40 : Integrate that, your HR system, create that single digital source for all your time.
0:08:48 : There’s obviously a lot of payroll solutions across the globe and a lot of options for managing it from a global perspective. What would you say is Neeyamo’s unique point of view in the market or like true differentiators compared to the other options out there.
0:09:04 : So the truest differentiator that differentiates Neeyamo from everybody else are, in my mind, true. Number one, Niall has a it’s not a middleware, it’s not an aggregator. It has an end to end ecstation including calculation engines for source to growth and roster for 100 countries on one platform. There is no other company. There is no other company. Today that set of engines happen and localization available for 100 countries on one single application.
0:09:47 : Even GIP has the multiple countries phony for about 50 countries on their global view which is the SAP platform online has an Eureka in 50 countries. But outside that, the data is spread over multiple payroll providers. Everybody else in the industry uses multiple payroll providers and they’ve not been able to build the tech with brain. Number one, that’s differentiator number one. Differentiator number two, Niamu has its own resources in 100 companies.
0:10:16 : Unlike other providers, all of them put together that use partners in each of the country. So it’s hoppered way to service the customer. Neando has invested in building out its own infrastructure, its own people in all of the countries, so that we may have local payroll and compliance expertise to provide that true one throat to Joel. So when our customer signs up with us, it is Neeyamo only is responsible for delivering the payroll process end to end in all of the countries. We don’t point fingers at anybody else or they didn’t do the job.
0:10:52 : Neeyamo.
0:10:55 : What type of companies would you say are the perfect fit to work with?
0:10:59 : Neeyamo that’s a great question. When we first started, and primarily we always felt that we were the ideal fit for companies effort in the 10,000 employee range globally. But over the last five years, what we have seen, a lot of the large enterprises also come to us. Even companies that have 200,000 employees come to us, but they come to us for that segment of employees, which is sometimes can be 10,000 thousand or 20.
0:11:32 : That is spread the word over in our industry and in the HR industry, these are termed as long tail. So there are two acronyms that are applicable. One is called the BK, which means countries variable large population. So typically, let’s say if you’re an american corporation, you would have a large population in the US, let’s say 2000 employees out of 5000 globally, then you may have one or two countries that have 500 employees. And then you’ll have anything from a few hundred employees all the way to one employee across the world.
0:12:02 : If it’s that set of employees, which is one or two country all the way to a few hundred, that is termed as a long tier. Essentially, Niano is considered the long tail specialist for any company, whether it be a small company or a very large enterprise. And that’s why the largest company in the world that has 200 300,000 global employees. As we come to Niyama, we have a problem with these 30,000 employees that are spread word over. Help us, and that’s where we deliver the maximum value.
0:12:35 : What type of impact have your clients seen as they’d work with Niyama?
0:12:41 : Normally, our goal is to create at least a 20% reduction in their total cost of operations. Now depending on some clients are already efficient and they may face just about 20%. I have seen customers where have business cases where it can reduce their total cost of operation even up to 30 35%. So it’s substantial chunk of money from a money perspective. But money aside, the more important aspect for most customers are twofold. Number one, Miamo system provides them total transparency as to their global compliance.
0:13:22 : Suddenly, instead of having to reach out to 50 different providers to find out whether or not you are compliant in each other country, Miamo application provided on a click of a button for every country telling you as of that date how compliant you are, provide you the proof of compliance in every country. Just that aspect of risk mitigation alone is worth a lot more than just the hard dollars then. I’m not saying there are no hard hours, there are huge hard hours.
0:13:53 : But the risk mitigation, this is the employee experience. 50 large enterprises today are looking for that one experience for all of their employees globally. Whether they are in one country all alone by themselves, or there is a country, thousands of employees, and today with multiple operating system, multiple payroll softwares, the employee experience is not common. The processes are not common, they’re not standardized, they huge risk. If somebody was to leave, nobody else can back them.
0:14:24 : With Nyahu’s application, all of that goes away across the world. One process, one way of working, whether it’s for payroll administrators or it is for the employee, and it’s all routed within their his. So the employees no longer have to remember a new password tile within their system. They can get self service, they can extend and gather data. We extend their global applications, truly become powerful and achieve the goals that they had originally set off when they started their.
0:14:57 : So that’s the power of a bigger today, of course, there is a lot of money savings as well.
0:15:04 : What type of things should someone who’s purchasing this type of technology and solution take into consideration as they evaluate the options?
0:15:13 : Well, the most important part in my mind is for them to truly identify their current challenges and their current use cases, which they should write out and make sure that whoever they’re evaluating is able to demonstrate to them that those use cases are possible and what the solutions are. It should not be PPT where it should be demonstrable, in the application itself, in the technology, in the process, with the people, with the consultants to show them how they will actually solve their challenge.
0:15:48 : Otherwise, all you are buying is good sales. I think customers need to go beyond the salespeople and start challenging the providers to truly show them how it will work in their application, set in their environment and deliver value for them. Of course, customers buy on based chemistry and many other items, including cost. But most important in my mind is to ensure that the provider is providing a solution that will meet their needs exactly their requirements, their use cases, not what has worked, somebody else.
0:16:26 : And what is the future vision for Neeyamo?
0:16:31 : Our vision is one day we will enable on demand payroll in every country. We have already heard about this. In United States, there are some payroll providers that can immediately on demand payroll. You might have seen some advertisements on television talking about how employee can their payroll, but I’m not talking about employee, but the equation of being able to run the bill. So, for example, most companies in the global payroll world today have a turnaround time, which means time from the day when they say data cut off to the daily pay, which can be from two weeks minimum, all the way, three weeks, sometimes even four weeks take to do all of the work because there are so many parties involved.
0:17:18 : Because Neeyamo has a single application, you have reduced that time period to three to five days. So there’s a huge change in that mindset. So you need to ask your provider, how many days will you actually take? Because once they tell you three days, you know there are multiple people involved, multiple passpoints are. Hence there could be mistakes, but once they can do it in three days, then you know it’s not possible. It has to be on the same system.
0:17:43 : And those are the vantages customers should be looking at, demanding and asking of their own. Is, can you show it to us? It can be done. We really actually have the engine to be able to process it. So from our perspective, our vision is to peek it to what we call as touchless on demand payroll, which means wherever in the world you are, whichever country you are operating in, you have full access to be able to process payroll on demand.
0:18:12 : Vivak, what final thoughts do you want to leave our audience with?
0:18:16 : Well, this is a very exciting part and a very exciting journey for everybody in global people in days to come. I definitely see a lot of interaction between the global HR provider, HRIs providers, and companies in our area who are extending elaborating solutions. So as we are continuing to build out our solution words that on demand, touchless single employee experience, I think the interactions and the alliances between the different companies will deliver greater and greater value to all the people and our clients that are seeking these solutions so that they can give a better experience to their employees. And a foreseeable model.
0:19:04 : For those that are interested in learning about Neeyamo. Where can they go to learn more information?
0:19:09 : Well, the best place to come and learn about us is come to Neeyamo.com ww Neeyamo.com or follow us on LinkedIn. We have lots of material on LinkedIn. We constantly update. We provide updates on compliances happening across the world in the different countries. If you have specific questions, reach out to OnNeeyamo. We have a reach out page. Send us a question. I have colleagues all over the globe. I have colleagues everything from store to south onward who can locally come talk to you, meet with you and deliver the solution that you’re looking for.
0:19:44 : Excellent. Thanks for being a guest on the HR tech spotlight Vivek. For those listening, be sure to check out the Niyama website and their LinkedIn to learn more.
0:19:54 : Thank you Deanna. Thank you so much for giving me the opportunity. Appreciate.
0:20:05 : Thanks for listening to this episode of The HR Tech Spotlight podcast where we showcase some of the best up and coming HR technology options in the market. If you are an HR tech company leader who would like to be considered for a guest spot on this program, please contact me via grossmodemarketing.com or reach out to me on LinkedIn and if you found this show informative, subscribe, connect with us on social media and leave a review.
0:20:34 : This is Deanna with GrowthMode Marketing signing off. Thanks for listening. We hope you’ll tune in again next time.