Cnergyis eyes PSU frims, Banks for HR solutions

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Mumbai, Jun 12 (UNI) Cnergyis, a HR software solution provider, is eyeing Public Sector Units (PSUs) including banks for its HR, payroll and benefit administration service solutions, according to a top official of the Company.

The Company is in talks with numbers of PSU firms and Banks and hopeful for getting business, the Company's Founder and Chairman Prasad Rajappan told UNI.

However, he declined to disclose the name of the PSU firms and bank. ''For next six months, we would primarily focus on domestic business for which, we are expanding our access at 350 locations across the country,'' Mr Rajappan said.

The firm targets a double fold revenue growth at Rs 5.5 crore in the current fiscal through the products like biometrics HR solutions, payroll all-India network, online and off-line services, he asserted. Recently, Cnergyis had received fund amounting one million Dollar from Google-backed Erasmic, Mumbai Angels and a group of individual investors and further looking for USD 3-5 million fund to come within six to eight months, which would be used for geographical expansion, enhancing the technology platform and process improvements, Mr Rajappan said.

He further said, ''We are very upbeat about the SaaS model and having predicted this major shift even five years ago, we have an edge over others in implementing it and taking it to the clients.'' Presently, the Company is processing 1.4 lakh employees per month, and targets to cater to 50 lakh employees in the next four years, he added.


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