KensiumHR was conceptualized by the founders, Viren Choudary, and Rahul Gedupudi in 2013. Prior to starting KensiumHR, the founders have worked together on various initiatives as entrepreneurs, and have always discussed about the challenges of finding, managing, and sustaining the right talent.
Some of the key points that always stood out in these discussions were:
- Time spent on monitoring the activities of team members
- Employees’ focus that is based on what is monitored rather than what is needed
- Employee motivation and engagement
- Transparency in administration, employee rewards, and decision making
- Discretion for those special situations that do not conform to policies
This formed the basis for early discussions on Human Resources Management, and Talent retention. Over the years, these random thoughts and discussions were narrowed down to five core areas of focus that will establish a harmonious employer-employee relationship that fosters growth - Engagement, Clarity, Transparency, Policy, and Information. These later became the guiding principles for KensiumHR.
In looking at existing solutions, the founders quickly realized that these systems are rigid, expensive, and difficult to comprehend and use. Also, an HR system is at the core of any organization, and should allow for seamless integration with all other business systems of the organization. This was found lacking in most off-the-shelf systems as well.
This led to the thought process that there is a need for a simple and easy-to-use yet highly configurable, feature-rich yet competitively priced solution that addresses the needs of the market.
Helping businesses build human capital through innovation in Human Resources Information Systems.
Be the best in the rapidly evolving domain of human resources management software through the development of innovative and effective solutions.
Why HRIS, and why now?
- HR Software is no longer purchased to improve efficiency of HR. Today, it is done to help transform talent strategies and directly improve employee engagement and the ability to hire
- CEO Challenge 2013 Summary Report lists “Human Capital” and “Operational Excellence” as two of the top global challenges for 2013, and this would probably not change for the next decade:
Human Capital and Operational Excellence are the Top Global Challenges for 2015
|Corporate brand and reputation||5||8||9|
|Global political/economic risk||6||5||3|
|Trust in business||10||10||N/A|
N=Number of overall responses. The response rate varies for each challenge. Each score represents the mean of the ranks given the challenge.
© The Conference Board, 2015
- Forbes predicts that more than 450million people around the world could license and use corporate HR software, but only around 55-60 million seats have been sold, and the market is still very young
- Existing HR Systems are aging – Average HR Systems are more than 5 years old, and reaching the end of their lifecycle both in terms of functionality and user interface. Each year, new categories are created (E.g. Social Sourcing)
- Forbes research also shows that the #1 driver of change is the need for a more compelling, consumer-like experience/UI. Mobile applications are the way of the future allowing employees to engage and communicate while on the road
- IBISWorld report states that by 2016, companies which are into HR and Payroll software and solutions will see a tremendous upward trend in revenue generation. The HR market is forecast to grow at a compound annual growth rate (CAGR) 2.4% reaching $9.2 billion by 2020
Product Guiding Principles
Each module of KensiumHR has to adhere to the elements that are essential to at-least three of the five core principles.
KensiumHR is a Human Resources Information System (HRIS) package that helps in efficient and effective management of Human Capital. KensiumHR does this by:
- Providing access to secure, reliable, and accurate information for effective HR management
- Automating critical HR processes to facilitate decision making, planning, monitoring and execution of daily activities
- Achieving better ROI by supporting Managers and HR in monitoring productivity of employees across the organization
- Enhancing the quality of decision making by providing the right information at the right time to the right stakeholder
Providing necessary information to management to identify and track policy deviations within the organization.
Some of the key features are:
- Rich out-of-the-box feature set
- Built on the premise that HR functions are never rigid, and requires flexibility
- Accessible from anywhere, with email based instant approvals for most tasks
- On-site, or SAAS (cloud) models
- Highly Configurable with dynamic workflows that capture conversations
- Integrated solution from recruiting of candidates to exit of employees
- Widget driven approach reduces information overload
- Integrated Task Management (beyond HR Tasks), and Employee Self-Service Portal
- Open API for easy integration with other applications including Accounting, Biometric or other Access Systems, etc.