Shubhika Sundriyal
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Editor's Note:- Confused between Xumane and Trica for your ESOP management needs? This blog presents a comprehensive analysis, evaluating both options across various parameters like core features, affordability, customer support, and more. Read on to get a better picture of which tool will suit your needs more.
Many ESOP administrators often find themselves at crossroads, deliberating between Xumane and Trica, unable to choose which option best suits their needs. Both platforms boast exceptional features, making them favored choices among both emerging startups and established enterprises.
But how do you determine the ideal fit for your organization?
In this blog, we will explore both Xumane and Trica, evaluating various parameters crucial for decision-making. Let's get started!
Parameters of Comparison
Xumane comes across as an effortlessly accessible platform with a seamless onboarding experience. While the team offers proactive assistance, you'll find the platform intuitive enough for independent navigation.
Upon logging in, you're greeted by a comprehensive dashboard, presenting key information such as the number of Active and Inactive ESOP Employees, Vested and Unvested shares, and more.
The widgets are conveniently placed, allowing easy access to employees' ESOP history and summaries. Overall, the interface is clean and intuitive, enabling you to launch your ESOPs within minutes.
But that's not all. Xumane also integrates with an in-built HRMS, streamlining the management of employee data and rewards effortlessly.
Source:cloudfront
On the other hand, Trica offers similar functionalities, facilitating ESOP pool management, policy handling, and grants via a user-friendly dashboard.
It empowers users to create and access an entire repository of ESOP policies, employee grant letters, and vesting schedules.
Trica too syncs with HRMS, simplifying operations further.
Leading in this parameter:
Xumane edges ahead in this regard, boasting a more streamlined and efficient dashboard. While both are tough contenders, Xumane's clarity and efficiency give it the competitive edge.
The Xumane solution offers three plans tailored for equity management.
The Starter plan at ₹30,000/year is tailored for budding enterprises with up to 20 stakeholders. This plan includes essential features such as a digital cap table, ESOP management, and functionalities for grant, vesting, and employee exits.
For those ready to scale, the Growth plan, which comes with Custom Pricing (depending on your organization’s unique needs), offers an expansive suite of features. It includes advanced features like valuation tracking, a document vault, a mobile app, equity payslips, and premium support.
Then, there is the Enterprise plan with Custom Pricing. This plan provides even more sophisticated tools such as an ESOP scheme generator, accelerated vesting with notifications, custom integrations, API access, personalized vesting schedules, a dedicated customer success manager, and an AI-ML-enabled chatbot.
Then there are add-on options available for all plans, ensuring tailored solutions for diverse business needs.
Now, let's explore Trica's pricing plans.
Trica offers three pricing plans, each offering features for different stages of the company's growth.
The "Starter" plan, priced at ₹5000, is ideal for ventures with up to 10 stakeholders. It boasts comprehensive reports and digital grant letters with e-signatures (up to 25/year).
Stepping up, the “Standard plan” at ₹20000/year accommodates up to 30 stakeholders and offers advanced features such as an ESOP scheme generator and a document vault.
For larger enterprises, Trica offers an “Enterprise plan” with pricing available upon request.
Apart from these, Trica extends additional services including HR advisory and valuation services, with pricing details available upon request.
Leading in this parameter:
Trica emerges as the winner with its Starter plan priced at ₹5000 for 10 stakeholders, making it a preferred choice for teams of 10 people or less.
Xumane ensures a fully customizable experience, enabling you to frame ESOP policy, distribute options, and track vesting schedules the way you like. The platform allows role-based access and views for seamless management.
You can access various ESOP stats to make informed decisions, such as Vested, Unvested, and Lapsed options. You can also get your hands on the ESOP summary, which highlights Active, Exercised, and Exercisable options.
As an admin, you can dig into detailed analytics based on Designation, Tenure, ESOP Valuation , and Department/Function.
Benefit from ready-to-use reports including grant reports, expense reports, Exercise/buy-back reports, and Timeline reports.
What's more, Xumane has recently partnered with Altius Investech , providing a comprehensive solution for ESOP management and liquidation. Leveraging Altius Investech's expertise, Xumane ensures a seamless experience for clients, facilitating effortless ESOP liquidation.
Similar to Xumane, Trica boasts an impressive employee interface. It allows team members to access comprehensive information about their ESOPs, including policy details, grant letters, vesting schedules, and the current value of their ESOP grants. This commitment to transparency fosters trust and transparency within the workforce.
Moreover, Trica simplifies administrative tasks, generating employee grant letters online, routing them for approval, and distributing them automatically. This streamlines HR processes, eliminating the need for follow-ups and physical documentation.
Leading in this parameter:
Here, Xumane takes the lead, particularly with its recent partnership with Altius Investech, offering a complete solution for ESOP management and liquidation needs.
Xumane stands out with its top-tier onboarding support team, boasting the industry's fastest onboarding process with a guaranteed 48-hour turnaround. Every key stakeholder is treated to a comprehensive demo, facilitating swift adaptation and seamless operations. Moreover, their round-the-clock customer support ensures prompt assistance, addressing new user inquiries or issues with efficiency and efficacy.
Trica also excels in providing personalized support and guidance to clients, ensuring a smooth setup and a thorough understanding of the platform's functionalities. Clients can rely on direct assistance from dedicated representatives.
When it comes to leading in this aspect, it's a dead heat between these platforms. Both offer exceptional onboarding experiences and continued support whenever needed. So, yes, it’s a tie.
Determining which tool is superior depends on your specific needs. Our impartial analysis provides insight for your assessment, with careful consideration given to the top performers in each category.
When deciding between the two, align your requirements with the capabilities of each tool. The one that best fulfills your criteria emerges as the winner.
We hope this overview offers clarity on Xumane and Trica's key attributes.
Need a detailed walkthrough? Go, sign up for their demos, and clear up any doubts you may have. Best of luck!
Xumane offers a highly-customizable platform, an in-built HRMS integration, and advanced analytics. On the other hand, Trica offers affordable plans for smaller team sizes, easy grant management functionality, and transparent employee dashboards.
Trica is more affordable at ₹5000/year, if you have a small team size, whle Xumane is great for growing organizations and comes at ₹30,000/year. Also, there are add-on options available for with both platform, which helps cater to diverse business needs.
Xumane offers the industry's fastest onboarding, helping organizations onboard within 48 hours, with 24/7 customer support. And Trica also offers personalized onboarding with ongoing support, making both platforms reliable for smooth onboarding and user satisfaction.
Startups with team size up to 10 may find Trica to be more affordable, whereas growing organizations in need of advanced analytics and unique customizations may find Xumane helpful and better suited to their rapidly evolving ESOP management needs.
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