Gaocheng Capital has recently announced that it had led a Series D funding round worth hundreds of millions of RMB for “Xin Ren Xin Shi (XRXS).” XRXS is a cutting-edge intelligent HR SaaS service platform that utilizes data to drive “Human efficiency improvement” and is dedicated to assisting businesses in improving their human resource management capabilities.
XRXS focuses on serving mid-sized enterprises with promising growth potential by providing holistic human resource system solutions. Their comprehensive product matrix encompasses a range of composite functions, including organizational staffing, payroll, attendance management, recruitment management, training management, group management, electronic contracts, intelligent data analysis, and more. In addition, with an emphasis on data interconnectivity and model diagnostic analysis, XRXS delivers invaluable digital insights to enhance enterprise operational efficiency.
As businesses strive to improve their operations and gain a competitive edge, they often rely on their internal data to analyze and address management issues. However, this approach has limitations and can only lead to linear improvements within the company’s existing framework. Enter the breakthrough engine: an external solution that enables companies to compare their practices with those of other leading enterprises and optimize their management strategies. XRXS, with its vast experience serving over 21,000 clients across more than 30 industries, has accumulated a wealth of industry know-how and produced multiple “dynamic showrooms ” through data desensitization. By comparing their processes with those of successful external organizations, companies can refine their management strategies for optimal performance. For instance, by using XRXS’s internal growth engine, businesses can track their turnover rate and compare it with external benchmarks to determine if corrective measures are needed. Through their data strategy library, companies can identify specific data strategies to optimize employee training programs, salary structures, and leadership development to improve this metric.
XRXS is a holistic HR SaaS provider entirely data-driven and sets itself apart from traditional e-HR software and current HR SaaS competitors. XRXS offers a complete “Three Tiers Six Steps” service system based on data, similar to a medical check-up in a hospital. The system diagnoses the client’s HR issues using a 51-dimensional model (like a blood test or CT scan), identifies anomalies through internal and external data comparison, and then develops the most appropriate solutions from a knowledge-based data strategy library. In this service system framework, the corresponding responsibilities of successful customers are to identify and control their needs (continuously check-up), manage their improvement plans (maintain health by adjusting or purchasing new modules according to usage scenarios), and maintain daily value (recommend new features and compelling use cases during the usage period), enabling customers to remain in a cycle of continuous optimization and iteration.
Small businesses have different needs than larger enterprises; XRXS understands this better than anyone. This is why XRXS focuses on providing HR solutions for companies with 200 to 3000 employees. Unfortunately, this market segment is often underserved, as more prominent vendors tend to focus on the needs of their biggest customers.
XRXS sets itself apart from its competitors through its exceptional data interoperability and data-based recommendation capabilities, which enable businesses to streamline their operations, beginning with employee onboarding data and culminating in the recruitment department. The XRXS system comprises 24 continuous scenarios that are continuously optimized, resulting in substantial efficiency improvements for businesses.
Regarding implementation effects, XRXS has a shorter delivery time, a more significant efficiency improvement, and tangible numerical support. Due to its extensive data analysis and integration capabilities, combined with Data RPA (Robotic Process Automation) capabilities, XRXS can help customers preprocess data automatically by scanning and parsing, thus shortening delivery time to less than ten days rather than several months like other vendors. Traditional ToB often implements modules one by one, and the later modules inevitably have to do heavy data processing and data correction, making the process longer. However, XRXS can provide specific efficiency improvement numbers with full-process data support. After implementing XRXS, the output efficiency increased by 302%, costs decreased by 25%, and comprehensive efficiency improved by 709% compared to the same period of the previous year.
Currently, XRXS, with data as the core, has connected personnel, business, and financial systems. It integrates with collaboration platforms like DingTalk, Business Wechat, and Lark and cooperates with Kingdee to provide packaged HR and finance systems. Additionally, it works with banks such as ICBC and CITIC to simplify financial and human resources processes. It has also associated with China’s national tax system, enabling customers to instantly obtain tax information and file taxes with just one click.
The introduction of various collaborative initiatives, dynamic templates, and the Data dual engine aims to improve enterprise productivity. The goal of XRXS is to enhance human efficiency across three levels.
The first level (L1) focuses on enhancing the enterprise’s efficiency by optimizing the information and data systems through continuous iteration, thereby improving convenience and collaboration.
The second level (L2) centers on enhancing organizational efficiency by addressing two key issues: how to help new employees quickly become proficient and ensure that existing employees advance through a well-designed compensation and promotion system. Through system diagnostics, XRXS helps organizations achieve these goals.
The third level (L3) involves fulfilling individual value pursuits. For example, XRXS helps companies build their badge systems, work information waterfall systems, point systems, and data evaluation dimensions, thus enhancing the individual-organization interaction experience and significantly increasing a sense of achievement.
Despite overall lagging development in the HR SaaS industry, many companies have yet to leverage data’s value and impact fully. XRXS has made strides in this area and is an example of a more successful approach to HR SaaS.
Regarding this investment, Jing Hong, founding partner of Gaocheng Capital, said, “Gaocheng is committed to discovering and helping SaaS companies grow, and we are optimistic about XRXS’s innovation in the new generation of data-driven management methods.” After this financing round, XRXS will further expand its research and development and sales capabilities and continue to be committed to helping companies improve their human resource management abilities.
