uKnowva, a cloud-based & mobile-enabled HRMS business software that helps to automate manual work and increases productivity revealed that its ARR (annual recurring revenue) value has increased by 1 crore in the last 1 month. ARR is basically annual recurring revenue, a key KPI for any SaaS company. Compared to last year, this is almost a 700% jump in annual recurring revenue for the company.
In the present-day business environment, business leaders want HR to be strategic. Senior executives want a CHRO who is a strategic business partner and an HR organization that anticipates the talent capabilities required for a high-performance culture that achieves their business strategy and growth objectives. That’s where uKnowva’s HRMS is making the difference.
Mr Vicky Jain, Co-Founder and CEO, uKnowva, said, “In the last one month, we have tied up with different companies that have further aided the growth of uKnowva. We have recently got into new commercial relationships with more than 8 customers including 2 really large workforce establishments. They are using HRMS (uknowva.com/hrms) and our newly launched eLMS (https://uknowva.com/extensions/elms/133) extension. The increase in the number of clients has also led to more than 20k new users presently using our HRMS platform. There are 2 main ways in which uKnowva is helping HR Leaders to support business strategy. Firstly, data analytics is now allowing them to combine traditional gut instinct with quantitative evidence to better direct resources towards strategic business needs and to prove its value-add. Secondly, automation is freeing HR teams from many tactical roles, such that we can give time to strategic work, including partnering with leaders across the enterprise to help them achieve their goals”.
With the help of uKnowva HRMS, many companies have implemented the best workforce practices. It enables a unique transformation in the organisation’s culture by equipping it with more powerful practices for attracting, developing, organizing, motivating, and retaining its workforce. We help companies enhance productivity and increase the accuracy and efficiency of human resource activities. uKnowva is helping 500+ HR Leaders every day to detect vulnerabilities in the system in earlier stages. Addressing them early on using the HR analytics means less expenditure on the rework
Vicky Jain added, “Strategic thinking is one of the key aspects to thriving in today’s business environment. Strategic thinking enables companies to recognize they cannot afford to relax. They must be innovative in every aspect of the operation of the business. We implemented an innovative marketing & sales strategy to increase our ARR growth. We targeted similar customers who had a similar use case that we had already solved for our existing customers.This helped us to extend our services to some of the well-established enterprises across the country and repeat the success story. A few of our new clients were also referred by enterprises that were already reaping the benefits of using uKnowva’s HRMS tool”.
Since the pandemic, companies are understanding the importance of a user friendly HRMS for employee retention and management. With the increase in the demand for HR softwares in the market, we have been growing at 150% YoY for the past 2 years and we are aspiring to grow at 200% in the FY 22-23. With some very interesting features, extensions and localization of the software for different geographies in the pipeline, we are also planning to expand our overall presence in both domestic and international markets over the coming years.