MyESOPs – Available on Subscription through SaaS Model
September 2, 2013 - Pune, Maharashtra, India
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. ”
About ESOP Direct
ESOP Direct is a leading solutions company in the space of Equity based compensation and offers services covering the entire life cycle of ESOPs including Plan conceptualization, Design, Documentation, Plan management, Compliance and reporting. ESOP Direct is the first and the only company to offer a full spectrum of integrated on-line stock plan management services, including plan administration, compliance, employee communication and online transaction capabilities. This service is delivered using their proprietary web based platform My ESOPs. ESOP Direct also offers a web based platform for financial reporting of stock options which includes valuation , expensing and reporting under IFRS, IGAAP & FAS 123R.
ESOP Direct, since its inception in 1999, has advised more than 500 companies on their ESOP design and implementation. It manages more than 250 Plans on its platform covering over 100,000 global employees.
Source: Business Wire India