greytHR: Building a Durable Enterprise Through Three Decades of HR Tech Innovation
In 1994, when "startups" were unheard of and entrepreneurship was often seen as a sign that you couldn't get a job, Sayeed Anjum and his co-founders decided to skip the campus placements of Infosys and Wipro. Instead, they launched Greytip Software (now famously known as greytHR). Today, three decades later, greytHR is a market leader in HRMS and payroll management, serving over 27,000 businesses globally. Their journey is a masterclass in longevity, adaptability, and the power of team-building in an industry that changes every few years.
As the Co-founder and CTO, Anjum has steered the company through the Y2K inflection point, the .com bust, and the transition from bespoke development to Pure-Play SaaS. By choosing the "harder path" of serving Indian businesses rather than chasing international outsourcing dollars, greytHR has built a durable enterprise that proves people—not just code—truly matter. From a lucky break with Unilever to pioneering cloud HR in India long before AWS was a household name, Anjum's story is the story of the Indian tech ecosystem itself.
"We Didn't Pick HR; HR Picked Us"
Early in their journey, the team did everything: container management for logistics, accounting software for Dubai, even ERP for government firms. But their first project was for the HR department at Unilever. As their HR managers moved to other companies, they kept calling Greytip to solve the same problems. This organic pull is what eventually led them to specialize and become the category leaders they are today.
The Mysore-to-Bangalore Leap: 1994 and the "Set Pattern"
Sayeed Anjum grew up in Mysore, where he was "bit by the computer bug" severely during his college days. At that time, the expected pattern for any bright student was simple: get into a large firm like Infosys, get your US Visa, and switch to a global role. "We were probably the odd ones who had this thought in college... why not do something innovative and heartbreaking?" Anjum recalls.
Starting out was a series of "first days" and false starts. Without mentors or startup resources, they jumped in headfirst. Moving from Mysore to the then-quiet city of Bangalore, they secured their first major client: **Hindustan Unilever**. They built a custom data warehouse and analytics system for Unilever's HR managers, a project that laid the technical foundation for what would eventually become greytHR.
"If you are building a durable enterprise, it's all about the team. People really matter. How do you build a purposeful and inspiring business which can attract talent to come join your quest? Being people-centric is the ultimate differentiator."
The Inflection Points: Navigating Three Decades of Change
greytHR's survival is rooted in its ability to master change. Anjum identifies three distinct phases of their business evolution:
The Greytip/greytHR Evolution Roadmap
- 1994-1999 (Avatar 1): Bespoke development. Doing all sorts of projects across logistics, accounting, and government ERPs.
- 2000-2009 (Avatar 2): Pure-Play Product Company. Specialized in Enterprise HR software for large conglomerates like Volvo, Toyota, and the SR Group.
- 2010-Present (Avatar 3): The SaaS Bet. Transitioned from upfront license fees to a recurring, cloud-based model before the Indian cloud infrastructure even matured.
The Open Source Bet: Affordability Engineering
One of the most critical technical decisions Anjum made was during the Y2K era. As a Microsoft shop, they faced a choice: stick with the expensive .NET/SQL Server stack or move to Open Source (Java/Linux). They chose Open Source specifically for the Indian market.
"We were very clear: affordability engineering would have to be a cornerstone if we were to serve Indian businesses," Anjum explains. This decision was so controversial at the time that he had to rebuild his entire team from scratch because his developers didn't want to jeopardize their careers on "crazy" non-Microsoft tech. This bet proved right, lowering the total cost of ownership for Indian smbs and allowing greytHR to scale massively.
Pioneering SaaS: Before "Cloud" was a Buzzword
Around 2010, greytHR pivoted again. Despite having a successful enterprise business with big-label clients, they saw that the sales cycles were too long and capital-intensive. They decided to bet on SaaS (Software as a Service). At the time, AWS was just starting, and the infrastructure was unreliable. They were among the first in India to reimagined HR as a cloud utility rather than a desktop installation.
This early mover advantage allowed them to capture the burgeoning SME market in India. Today, greytHR is the backbone for thousands of companies, offering a seamless experience that combines complex payroll compliance with user-friendly HR management.
greytHR: Impact at Scale (Jan 2026)
- Customer Base: Over 27,000 businesses globally.
- User Reach: Supporting more than 2 million users every day.
- Global Presence: Active in 25+ countries.
- Legacy: 30 years of continuous innovation in the HR tech space.
Founder's Wisdom: Lessons in Durability
Sayeed Anjum's transition from a college student with a "computer bug" to a global CTO offers several profound lessons for the next generation of founders:
Master the Change
Don't be forced to change—seek it out. Change is in the DNA of a durable business. Anjum believes that embracing drastic shifts in technology and business models is the only way to thrive over decades.
The Purposeful Team
Building a durable enterprise is less about the code and more about the inspiring business you build. Attracting talent requires a purpose that people want to be a part of. Focus on the long-term culture rather than short-term wins.
Customer Focus
Stay inward-looking at your peril. greytHR thrived because it learned quickly that serving the customer's ever-growing needs is the only metric that matters. renewals and repeat business are the lifeblood of a sustainable firm.
The Meaning of a 30-Year Journey
For Sayeed Anjum, entrepreneurship is the quest to use software to benefit businesses and people. By remaining bullish on India when everyone else was looking abroad, greytHR has become more than just a software company—it's a testament to the durability of people-centric innovation. As the company continues to grow, its mission remains simple: providing scalable solutions to the daily challenges of HR professionals.
As Anjum reflects on his "heartbreaking" early decision to start his own business, he remains as passionate about computers as he was in his hostel in Mysore. In the world of HR tech, greytHR is not just a leader—it's a benchmark for what it means to build a business that lasts.
About the Guest
Sayeed Anjum is the Co-founder and CTO of greytHR (Greytip Software). An MCA graduate from SJCE, Mysore, Sayeed has over 30 years of experience in product development, R&D, and HR technology. He has been instrumental in greytHR's technological evolution, from bespoke software to one of the world's leading SaaS platforms for HR and payroll. A corporate member of NASSCOM and TiE, he is a respected authority on software usability, quality engineering, and building sustainable, long-term organizational cultures in the Indian tech ecosystem.
greytHR is a premier cloud-based HR and payroll management platform. Serving over 27,000 businesses and 2 million users across 25 countries, greytHR provides comprehensive solutions for attendance tracking, leave management, payroll processing, and employee engagement. The company is committed to simplifying HR operations for SMEs and large enterprises through innovative, user-friendly technology.