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Freshworks > Case Studies > Revolutionizing HR Challenges in a Global Venture Capital Firm with IoT
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Revolutionizing HR Challenges in a Global Venture Capital Firm with IoT

Technology Category
  • Platform as a Service (PaaS) - Application Development Platforms
Applicable Industries
  • Buildings
  • Construction & Infrastructure
Applicable Functions
  • Sales & Marketing
Use Cases
  • Usage-Based Insurance
The Challenge

Accel, a leading venture capital firm, faced unique HR challenges due to its complex organizational structure and the need to manage a large volume of inbound profiles. The firm's HR administrative tasks were being tracked manually, making the process inefficient and prone to errors. Accel receives around 50-60 inbound profiles daily, including those of senior professionals and industry experts. While these profiles may not always find opportunities within Accel, they could be suitable for Accel's 140+ Indian portfolio companies. However, maintaining these inbound resumes in Excel sheets and Google Drive was chaotic and unmanageable. The firm needed a solution that could seamlessly integrate and share all the information with their portfolio companies. Additionally, aligning the entire team on a single HRMS platform suitable for both internal and external usage was a significant challenge.

About The Customer

Accel is a global venture capital firm that partners with exceptional founders to grow their start-ups from inception through all phases of private company growth. They invest in technology-driven companies in SaaS (Software as a Service) and enterprise software, mobile, infrastructure, financial technology, IoT (Internet of Things), security, and media. Over the past 13 years, Accel has backed multiple unicorns and some of the biggest Indian players across industries, such as Freshworks, Flipkart, Myntra, Swiggy, BrowserStack, Zenoti, Chargebee, CleverTap, and UrbanCompany. Accel Partners continue their successful run with more than 1700 investments and have had 340 successful exits worldwide.

The Solution

Accel turned to Freshteam, an HR software, to address its HR challenges. After evaluating 14 different HRIS solutions, Accel chose Freshteam for its customizability and excellent customer service. Freshteam worked closely with Accel to customize the solution and map all the employees per their complex hierarchy. It also organized many processes that were previously disorganized within the organization. Accel initiated the Smart Connect program, reaching out to candidates who had spent a few years of their career abroad and were looking to return to India. Using Freshteam, Accel could source such candidates with ease, communicate with them, and keep them informed about various opportunities. Freshteam also customized the platform to allow all 140+ portfolio companies of Accel to access high-quality profiles using unique Login IDs and passwords.

Operational Impact

  • The implementation of Freshteam has revolutionized Accel's HR operations. The software's customizability allowed it to be tailored to Accel's complex organizational structure, streamlining HR administrative tasks and improving efficiency. The Smart Connect program, facilitated by Freshteam, enabled Accel to reach out to potential candidates abroad, leveraging their expertise for the benefit of Accel's portfolio companies. Furthermore, Freshteam's unique profile sharing feature allowed Accel's portfolio companies to access high-quality profiles, providing them with the resources they needed to scale rapidly. The software also integrated effectively with Freshmarketer, enabling Accel to communicate marketing messages and build narratives with candidates.

Quantitative Benefit

  • 60 inbound profiles managed by Accel every day

  • 14 different HRIS solutions evaluated before choosing Freshteam

  • 140+ portfolio companies given access to high-quality profiles

Related Case Studies.

Case Study
IoT System for Tunnel Construction
The Zenitaka Corporation ('Zenitaka') has two major business areas: its architectural business focuses on structures such as government buildings, office buildings, and commercial facilities, while its civil engineering business is targeted at structures such as tunnels, bridges and dams. Within these areas, there presented two issues that have always persisted in regard to the construction of mountain tunnels. These issues are 'improving safety" and "reducing energy consumption". Mountain tunnels construction requires a massive amount of electricity. This is because there are many kinds of electrical equipment being used day and night, including construction machinery, construction lighting, and ventilating fan. Despite this, the amount of power consumption is generally not tightly managed. In many cases, the exact amount of power consumption is only ascertained when the bill from the power company becomes available. Sometimes, corporations install demand-monitoring equipment to help curb the maximum power demanded. However, even in these cases, the devices only allow the total volume of power consumption to be ascertained, or they may issue warnings to prevent the contracted volume of power from being exceeded. In order to tackle the issue of reducing power consumption, it was first necessary to obtain an accurate breakdown of how much power was being used in each particular area. In other words, we needed to be able to visualize the amount of power being consumed. Safety, was also not being managed very rigorously. Even now, tunnel construction sites often use a 'name label' system for managing entry into the work site. Specifically, red labels with white reverse sides that bear the workers' names on both sides are displayed at the tunnel work site entrance. The workers themselves then flip the name label to the appropriate side when entering or exiting from the work site to indicate whether or not they are working inside the tunnel at any given time. If a worker forgets to flip his or her name label when entering or exiting from the tunnel, management cannot be performed effectively. In order to tackle the challenges mentioned above, Zenitaka decided to build a system that could improve the safety of tunnel construction as well as reduce the amount of power consumed. In other words, this new system would facilitate a clear picture of which workers were working in each location at the mountain tunnel construction site, as well as which processes were being carried out at those respective locations at any given time. The system would maintain the safety of all workers while also carefully controlling the electrical equipment to reduce unnecessary power consumption. Having decided on the concept, our next concern was whether there existed any kind of robust hardware that would not break down at the construction work site, that could move freely in response to changes in the working environment, and that could accurately detect workers and vehicles using radio frequency identification (RFID). Given that this system would involve many components that were new to Zenitaka, we decided to enlist the cooperation of E.I.Sol Co., Ltd. ('E.I.Sol') as our joint development partner, as they had provided us with a highly practical proposal.
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