Payroll Processors move up on the CloudAbout Balakrishna and companyBalakrishna & Co Chartered Accountants Firm was established in1988 at Bangalore, India. With a track record of over 25 years, thefirm is providing under one roof, services in the field of Accounting, Payroll, Statutory / InternalAudit, Taxation, International Taxation, Company Law Matters and Management Consultancy,matters relating to FEMA, Mergers and Acquisitions.ChallengesBalakrishna and co is in the business of providing Payroll services to its clients with an On-Premisebased Payroll Software. Balakrishna & Co faced multiple challenges in providing these services totheir clients.One of the first issues was on configurability. As they were servicing multiple clients the softwarewas not configurable to meet all these requirements. This led to difficulty in handling multipleclients at the same time.The support from the Software provider was not good. Even solving small queries took time. Theteam was tasked with downloading and updating patches on the software.Accessibility was also an issue. The On-Premise solution was not accessible to the team that wasmobile. Response time suffered and the team needed to visit the office to check and resolvequeries.As the software was installed internally, Balakrishna & Co had to spend upfront capital on theservers, software, and backup infrastructure. There was a recurring maintenance and people cost.Being in a very price sensitive market, acquiring more clients, spending less capital and whilekeeping costs low was not feasible. Effort was high, growth was low and profits were minimal.
SolutionIn the year 2011 Greytip approached Balakrishna and Co with its Cloud based Hr and PayrollSoftware - Greytip Online. Team members of Balakrishna and Co had already faced challenges witha Payroll Software and were reluctant to try another system. But Greytip’s unique selling point ofFree trial and no risks involved concept convinced Balakrishna and Co to try the system. From thenthere was no looking back.Greytip provided hassle free implementation and set up the accounts for Balakrishna & Co toprocess payroll for its clients. Using Greytip Online, Balakrishna & Co could now process their clientspayrolls even out of office. Queries are solved on time and even on holidays. Client access wasprovided to the application which resulted in anytime-anywhere access to the software.Features like online Reimbursements, IT Declarations, etc reduced the amount of work that theteam had to do. Trouble Ticket module ensured that employee queries were tracked and resolved.Online Payslips and other useful features led to a drop of almost 50% traffic from employeesleading to a significant reduction in interaction activities.ResultsSince then Balakrishna and Co has scaled by 325% (from 4 to 17 clients) and added only twoadditional people on the team.“It’s fantastic. Earlier we were struggling to prepare payroll using other software. After we moved toGreytip we are doing things with great ease. This is futuristic software, wayahead of its competitors, having features such as leave management, onlinehelpdesk etc. We strongly recommend this software to every company. “ - CA Kumar Prasad,Balakrishna and Co.