ESOP Direct, India’s leading service provider in the Equity Compensation space has launched the SaaS version of MyESOPs, its proprietary web based platform that manages ESOP Plans of companies.
MyESOPs On Demand, the SaaS platform, enables companies to automate their ESOP management process without investing in the software and hosting infrastructure. Companies who are not comfortable outsourcing the ESOP management or those who have smaller coverage of employees would find the SaaS model very attractive, since it will streamline the process and ensure compliance while reducing the person dependency.
ESOP Direct is currently managing more than 250 Plans covering over 100,000 global employees on MyESOPs platform. The company is providing a full spectrum of ESOP Management service including Plan administration, employee communication, help desk, on-line Reports, tax calculation and reporting.
Harshu Ghate, Co-Founder & CEO of ESOP Direct said, “Large number of growing unlisted companies have rolled out stock options to their employees. Implementation of these Plans requires specialized knowledge in legal, Accounting, Tax and Finance. It is difficult for smaller companies to possess this knowledge in-house. In terms of the size of their Plan, these companies also find outsourcing the management to experts to be costly. SaaS is the way to go for such companies. They can get the benefit of expert knowledge and automation without incurring any capital cost. The platform also has transaction capabilities such as on-line payments and cashless exercise, which make the management process much efficient. We are glad to launch MyESOPs on Demand as one more pioneering service offering to meet customer requirements. This initiative is in line with our zest to make ESOPs successful for the companies and a delightful experience for the employees.