According to the Ernst & Young, the Indian human resource segment is said to be valued at Rs. 228 Billion in the fiscal year comprising of individuals, freelances, small enterprises and MNCs out of which the permanent recruitment is said to be valued around Rs.23-25 Billion for the financial year of 2011.
Startups are fast tapping into this market and are quickly developing solutions to help in the recruitment process. Where on one hand InterviewMaster provides automated interview solutions for recruiters MyParichay on the other hand is looking at making hiring a more social experience.
Noida based Valuehire is a cloud based SaaS service that provides placement agencies a platform to automate, standardize and manage their entire recruitment workflow with a focus on Indian SMEs in the permanent recruitment market.
Founded by Dhruv Gupta, who cashes upon his 13 years of experience working in IT product and project management, the service was launched in May 2012. The cloud based service does everything from keeping a track of the job openings at the companies to the progress of a candidate in various stages of recruitment for the recruiting agency.
The data for all the candidates’ information can be pulled in a go from documents and resumes and entered against the correct field entries. Apart from that the clients’ information can also be tracked and the candidates can be referred to them for a particular job opening. The dashboard style layout is designed keeping in collaborative features where-in within a company the employees can be granted restricted access to the information when required.
The system also keeps track of invoicing and billing. Though at this point no payment gateway is integrated so it basically acts as a ledger for payment records. There is only a single plan with access to all the features and it costs less than Rs.500 per user per month. The average cost changes in case of bulk user licences and quarterly or annual plans instead of the monthly subscription.
There is definitely a market out there for a service like Valuehire targeting the recruiters. But a service like Valuehire demands more in terms of the usability. And Dhruv says that they are already working on the next iteration of the product which would release by the end of this year.
The next version would bring with it organic integration with the clients and the candidates to make Valuehire the service for all the parties involved in the various phases of recruitment.
If you are a recruitment consultant, do give Valuehire a spin and share your comments.