HR tech company Beehive launches AI-powered platform for SMEs | The Financial Express

HR tech company Beehive launches AI-powered platform for SMEs

Technology for MSMEs: The company said its digital solution replaces multiple software products for all modern workforce needs. This includes an employee attrition tool that captures the reasons and timely solutions, managing and tracking productivity, structure compensation planning linked with performance management, employee collaboration, analytics, etc.

HR tech company Beehive launches AI-powered platform for SMEs
Beehive said it has launched the new solution on the cloud as well as on-premise.

Technology for MSMEs: Cloud-based HR technology company Beehive on Wednesday announced an all-in-one artificial intelligence-backed solution for SMEs to offer support around employee wellness, wellbeing and productivity features, and also to simplify functions including recruiting and performance management. “The most difficult challenge for SMEs is retaining and developing talent. While they recognize the value of investing in talent and expertise, the lack of an HR department or robust HR policies puts them at a disadvantage,” said Beehive as it launched the new solution on the cloud as well as on-premise.
 
The company said its digital solution replaces multiple software products for all modern workforce needs. This includes an employee attrition tool that captures the reasons and timely solutions, managing and tracking productivity, structure compensation planning linked with performance management, employee collaboration, analytics, etc. Beehive added the platform offers data-driven decisions, identifying and mitigating risks in real-time, and assisting businesses in focussing on hiring, nurturing, and leading HR teams.

“The post-pandemic environment has now moved to the great resignation and attrition era, forcing organizations to realign their strategies. For SMEs, it’s about managing a huge workforce and the need to invest in the right resources or many resources to accelerate the business to the next level and meet the requirements of the evolving workforce needs. We have hence rolled out a comprehensive platform that caters to the different needs of different organizations of all types and sizes,” said Haresh Awatramani, Founder & CEO, of Beehive Solutions. 

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Offering digital solutions to small businesses, which comes on the back of growing digital awareness among MSMEs, also allows service providers to tap into the vast opportunity. Apart from HR solutions, technology companies are looking at digitising almost every area of running a business including lending, bookkeeping, procurement of goods, selling goods and services, sales and marketing, and more across multiple sectors. According to a Zinnov report, the opportunity in digitising small businesses will expand to around $85 billion by 2024 from around $30 billion in 2019.

Particularly post-Covid, digital adoption has shot up among small businesses. According to a Crisil survey of around 540 micro and small enterprises in April this year, more than 65 per cent of respondents said they have adopted or upgraded their use of digital channels for growth amid pandemic-led disruption last year.

“The digital acceptance has increased further after the second wave. The survey highlight was the big change in the digitisation of financial transactions and marketing. However, MSEs were still not comfortable sharing their proprietary data online. In our experience, whatever digital footprint has been created is usually in cases where data sharing is not consent-based and that is helping MSEs with benefit maximum otherwise if their consent is needed, there are challenges in getting the data,” Manasi Kulkarni, Associate Director, Crisil had told FEAspire.

Also read: Amazon India sees 27% revenue jump in wholesale business even as net loss widens by nearly 200%

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