BetterPlace is the largest human capital Saas platform that enables enterprises to manage the entire lifecycle of their frontline workers. Being a full-suite HRMS solution, BetterPlace caters to the entire value chain of frontline workforce management from discovery, hiring, onboarding, background verification, and payroll to upskilling and services like vendor management, workforce fulfillment, insurance, and credit.
Olive Sen is the Chief Product Officer at BetterPlace. He drives the company's product development and innovation. Previously, he served as the Chief of Product and Marketing at OLX Group, where he shaped product vision and implemented successful strategies. With expertise in SaaS, product marketing, and management, Olive has a track record of launching successful products and optimizing performance. He is an alumnus of IIT, Kharagpur, with a strong educational foundation. Olive's strategic mindset, leadership, and commitment to innovation make him a valuable asset, fueling BetterPlace's growth and success.
Recently, we engaged in an interview with Olive Sen, Chief Product Officer at BetterPlace, He spoke about how BetterPlace's flexible architecture empowers enterprises to leverage advanced analytics for better workforce management.
Tell us about BetterPlace and your offerings
BetterPlace is the world's first AI-optimized horizontal workforce management SaaS platform specifically designed for frontline workers. It serves over 30 million workers across 1500 businesses, providing a comprehensive solution for the entire value chain of workforce management.
From digital hiring and sourcing across multiple channels, transparent and collaborative vendor management, and automated onboarding to configurable payroll system compliance management of contractual workers, BetterPlace is a complete employee lifecycle management platform.
Powered by AI-enabled solutions that optimise efficiency and user experience, BetterPlace distinguishes itself as an industry leader in frontline workforce management.
How does BetterPlace's flexible architecture empower enterprises to leverage advanced analytics for better workforce management?
BetterPlace’s flexible architecture is based on three pillars: integration, customization, and configurability which gives the enterprises the option to make BetterPlace offerings their own sort of like a more robust version of their in-house software. These 3 pillars take shape in the following ways:
- BetterPlace offers standard REST APIs for seamless integration with various systems. Which means that regardless of which system a company is using, they can easily integrate BetterPlace modules into them. This includes integration with ERP systems like SAP, Oracle, and Ramco, third-party HRMS modules such as SAP SuccessFactors, biometric hardware devices, analytics tools like PowerBI, and data lakes/warehouses. These integrations enable enterprises to consolidate data and leverage their existing infrastructure investments.
- BetterPlace's flexible architecture includes a no-code/ low-code workflow builder based on BPMN (Business Process Model and Notation). This allows enterprises to create custom workflows tailored to their specific requirements, enhancing efficiency and streamlining workforce management processes. All of this can be done without the need for heavy technical teams since this process is optimized through no-code tools
- BetterPlace's technologies are designed to be cloud agnostic, allowing enterprises to choose their preferred cloud platform. This flexibility enables seamless integration with existing cloud environments and ensures compatibility with different infrastructure setups.
Hence, through these interventions, we aimed to make workforce management solutions more democratic in nature so that more enterprises can adopt with quick implementation of any workflows or feature-level customizations. Unlike other SaaS solutions, our platform does not require a major overhaul of the current enterprise systems bringing in the next level of seamlessness.
What technology solution is BetterPlace integrating to derive data-led insights for optimization and analysis of workforce data?
BetterPlace integrates AI, GPT Models, and tools like Power BI to derive data-led insights for optimizing workforce data. AI enables the analysis of vast amounts of data, uncovering patterns and correlations for valuable insights. GPT Models extract meaningful insights from textual data sources. Power BI provides robust data visualization and reporting capabilities. Together, these components empower organizations to optimize workforce performance and make data-driven decisions for improved efficiency.
What is BetterPlace’s U.S.P in relation to its full-stack SaaS platform?
BetterPlace's unique selling proposition (USP) lies in its full-stack SaaS platform, which combines the benefits of both horizontal and vertical solutions. While BetterPlace has the capability to optimize workforce management across the entire value chain, each module within the platform can also be used independently as a vertical tool by enterprises.
This flexibility sets BetterPlace apart as a one-stop platform for all workforce needs. Organizations can leverage the comprehensive suite of modules to streamline hiring, onboarding, vendor management, and more, optimizing their workforce management strategies. At the same time, they have the option to utilize specific modules individually, focusing on specific areas of their workforce requirements.
This USP helps BetterPlace not only diversify its revenue streams but also helps the company capture the greater wallet share of its customers.
How does BetterPlace aim to revolutionize India's blue-collar worker segment through generative AI?
The core thesis behind integrating AI into the platform was to enhance optimization and scalability through automation. To achieve this, BetterPlace has introduced generative AI and GPT models across its modules, leading to transformative changes in the following three areas:
- Verification & Onboarding: Generative AI automates onboarding, allowing workers to upload documents and receive prompt assistance. Telecare and live language models ensure efficient and accurate communication, streamlining the onboarding process.
- Performance Management: Generative AI optimizes frontline worker management, offering audio and video content options. Analyzing performance data, the AI system identifies patterns and recommends suitable training, enhancing productivity and promoting continuous improvement.
- Skilling: Generative AI assesses worker skills, identifies gaps, and recommends personalized training programs. This approach enables effective upskilling, meeting industry requirements. BetterPlace empowers workers with targeted training for professional development and improved career prospects.
What are your growth priorities for 2023-2024?
Our overall goal is to formalize and optimize 50% of the world's workforce management. Hence, all our growth priorities are aligned with this vision. To achieve this ambitious goal, we have devised a three-pronged approach that focuses on consolidation, innovation, and profitability.
- Consolidation: One of our priorities is to consolidate our existing operations and expand our reach in key markets. We have already laid a solid foundation for ourselves in Southeast Asia and GCC through successful collaborations with companies like TROOPERS, MyRobin, EvomatiQ, and AMY. These markets present significant opportunities not only because of the large pool of workers but also because of massive digital adoption in the region
- Innovation: The scale and diversity of the frontline workforce segment enable companies like us to continue striving for endless innovation. While the last few years were dedicated to building a robust tech stack on which multiple modules could be integrated, this year the focus is on optimizing each module with the help of AI so that the costs borne by enterprises are reduced by more than 50%
- Profitability: Innovation and consolidation have put us on a strong path to profitability. Consolidation has helped us build the credibility of achieving scale which has led to more enterprises trusting us with their workforce while helping us reduce our customer acquisition costs. Innovation, on the other hand, is enabling us to increase our wallet share among our existing and future clients, helping us bring in more revenue, eventually leading to profitability.
Highlight the technology trends shaping the frontline workforce today.
The frontline workforce is being shaped by several technology trends that aim to enhance productivity, improve experiences, and prioritize safety and wellness. One such trend is the adoption of AI-powered tools like ChatGPT, which are revolutionizing conventional search engine methods and providing a higher level of convenience. In addition to AI language models like ChatGPT, there are several other technology trends that are transforming the frontline workforce today. These trends include:
- AI and Automation: AI and automation technologies are being used to streamline, automate repetitive tasks, and simplify the user experience, improving efficiency and productivity for frontline workers. This includes the use of AI-powered chatbots, robotic process automation (RPA), and machine learning algorithms.
- Mobile and Cloud Computing: Mobile devices and cloud computing solutions enable frontline workers to access information, communicate, and collaborate from anywhere, enhancing flexibility and mobility. Cloud-based platforms also facilitate real-time data sharing and analysis for better decision-making.
- Data Analytics and Artificial Intelligence: Advanced data analytics tools combined with AI algorithms are being leveraged to extract actionable insights from large volumes of data collected from frontline operations. This helps in identifying patterns, optimizing processes, and making data-driven decisions.
- Cybersecurity and Privacy: With the increasing adoption of digital technologies, cybersecurity and privacy have become crucial considerations for frontline workers. Protecting sensitive data, securing communication channels, and ensuring compliance with regulations are important trends in safeguarding the frontline workforce.