Zimyo offers other workforce management tools such as an applicant tracking system (ATS) designed to manage and scale their hiring process and a Performance management system (PMS) to monitor employee performance.
Zimyo HCM platforms known for offering robust HR and payroll solutions has now embraced embedded finance and launched its new module- ‘Benefits’ to empower organizations to support their employees’ financial wellness. The company has partnered with various insurance companies, NBFCs, AMCs to unveil an extensive “Employee Benefits” module offering Advance Salary, Payday Loans/Personal Loans, Health & Term Life Insurance, Tax Saving Investment Plans, Mutual Funds, Expense Cards/Credit Cards, Retirement Plans and much more.
The outbreak of the Covid-19 pandemic brought to light how uncertain life can be. Contingencies such as a disability, accident, layoff, or even death can totally disrupt the life of employees and their families. It is more important now than ever to ensure that the provider’s immediate family has some financial support in the event of any unforeseen circumstance.
Through its ‘Employee Benefits’ module, Zimyo has entered this new domain of Embedded Finance to help organizations address these issues in a hassle-free manner. It delivers tech-driven financial experiences tailored to the organizations’ needs at highly competitive prices.
Ajay Kadan, co-founder and CTO of Zimyo
added,“Over the years, we have realized that an employee’s financial wellness is as important as their mental, physical and emotional wellness. Employees largely contribute to the growth of an organization and they are the most valuable assets. Employers must make employees and the lives associated with them feel safe and valued. We believe organizations must bring employee’s financial wellness to the forefront. Embedded finance is the need of the hour that can help in creating a more engaged workforce.”
With the newly launched “Employee Benefits” module, the company aims at bridging the gap between its users and financial services and making it simple, speedy, and transparent to acquire loans, insurances, and investments. Zimyo platform ensures a seamless and hassle-free user experience. Thoughtful execution of embedded finance by utilizing all relevant data streams offers a transcendent customer experience, thereby differentiating the company from other players in the industry.
Recently, ‘Employee Benefits’ has emerged as a popular option to engage and retain employees. According to a survey conducted by Willis Towers Watson, 75% of employees are more likely to continue working with their employer because of their employee benefits package.
These employee benefits will be of great advantage to the organizations that are trying to redefine employee experiences. Zimyo’s Benefits are a native feature of its other products. It eliminates excessive paperwork, unnecessary documentation, long waiting hours, and tedious processes to provide easy accessibility of financial solutions.
Being a unified HCM platform, Zimyo is known to be the easiest solution to switch to and set up complex processes for organizations in the shortest turnaround time. It is easy to integrate with multiple applications including Slack, Gmail, Zoom, and many others that help organizations in enhancing team productivity.
Besides Benefits, Zimyo offers other workforce management tools such as an applicant tracking system (ATS) designed to manage and scale their hiring process and a Performance management system (PMS) to monitor employee performance. Additionally, its mobile application provides an exceptional user experience with 24/7 customer support and robust data security solution.
Incepted in 2018, the company has successfully acquired an extensive customer base of more than 500 renowned organizations, serving 100,000+ employees with 40+ modules facilitating 1M+ monthly employee transactions.
Source: Business World