SMEs can cash in on demonetisation: Greytip Software CEO

Chennai: With the start ups and SMEs concentrated more in the cities and tier II cities, the demonetisation initiative will be a big opportunity for them to grow.

Though initially they would find their cash transactions restrained on weekly basis, from the development perspective the currency pullout will promote their growth, claims Girish Rowjee Co-founder and CEO, Greytip Software.

“Demonetisation is an opportunity for start-ups and is not something putting them back because it opens up so many problems. Like for instance, some people like the panwala or the housemaid can’t do things the way they had been doing in the past. But for start-ups it’s a huge problem.

“Demonetisation causes lot of disruption in the system. People who are used to dong things in a certain way cannot do now,” he said.

Speaking to this correspondent on Saturday Girish Rowjee said the demonetisation is a positive sign of growth. The initial challenge is to automate and opt for e-enabled services, which the government wants the people to comply with.

“We, as HR and payroll solution provider, see demonetisation as an opportunity to go to large number of business in India and solve their problems to meet the current situation. We can see that payroll is processed completely.

Bank statements can be generated automatically for IT returns filed online. “All one has to do is to enter the data once and our software will take care of the rest. Loss of pay or salary changes has to be entered, otherwise system will help the manage the daily affairs with efficiency and accuracy,” Mr. Girish said.

Over 4, 000 firms switch to HR, Payroll solutions

If yours is a startup or SME with less number of employees and overburdening the HR with computing salaries or tracking leave, here’s help at hand. A software firm has developed a software to manage the HR and payroll records for firms with 5 to 500 employee strength. Over 4,000 companies across India are availing these solutions.

“The HR and Payroll software solution provided by us is being used by over 4,000 firms in the manufacturing, health and IT sectors. It is an ideal solution. Even the companies in tier II cities have started using it,” claims Girish Rowjee Co-founder and CEO, Greytip Software.

Speaking to this correspondent here on Saturday he said “our solution is extremely good for demonetisation era too. What typically is happening is the government is insisting everyone to switch to cashless transaction and this is where our solution will help the companies to cope up with the present challenge,” he added.

The HR & Payroll solutions provider enables processing of over 5,00,000 employee records on a monthly basis. Speaking on the status of start-ups and SMEs he said the focus and concentration is currently on bigger cities because of availability of manpower and opportunities.

“People are apprehensive of the kind of manpower they may get and also the scope of experimenting the idea in rural areas compared to places like Bengaluru or Chennai where one can explore better opportunities…. The ecosystem is also like that. Secondly, what’s happening is that people in smaller cities have the pressure of taking care of their families,” he added.