Workforce SaaS platform BetterPlace has announced the launch of its unified tech brand, goBetter, which combines over eight tech modules into a single platform to drive its global expansion efforts.
BetterPlace said goBetter aims to take to the global markets as a unified SaaS platform that is optimized by generative artificial intelligence (AI) to revolutionize frontline workforce management.
Navigating through global workforce challenges
Betterplace said the workforce across India, Southeast Asia, and GCC countries, while making up 50% of the world’s workforce, remains predominantly informal, with over 60% not formally structured. This has created numerous challenges across the value chain, including a mere 3% of the frontline workforce being formally skilled and enterprise efficiency being 20-25% below the ideal rate.
goBetter will help enterprises to reduce their costs by 50% and increase productivity by 100% through automation and optimization empowering them to scale their business, the release notes.
Targeting a $300 billion market with goBetter
Pravin Agarwala, Co-founder and Group CEO of BetterPlace highlighted the rapid changes in global workforce dynamics as a significant challenge for enterprises.
He emphasized that goBetter aims to tap into the $300 billion addressable market in India, Southeast Asia, and GCC countries. The objective is to manage 10 million workers in Southeast Asia and GCC over the next three years, unlocking the economic potential of frontline workers and the economies that employ them, he said.
Investing $35 million in R&D
As part of the development, Betterplace said it plans to invest $35 million in R&D to further enhance its tech stack.
BetterPlace, which currently operates in five countries with more than 30 million workers on their platform, claims to have witnessed a 5.5X growth year-on-year in FY22, achieving Rs 275 crore in revenue. The company aims to become EBITDA profitable by September 2024.
Founded in 2015, Betterplace caters to the entire value chain of frontline workforce management from discovery, hiring and onboarding to vendor management, rostering, upskilling, productivity management, benefits transfer, and credit.
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