It looks like the Philippines and Canada-based payroll solutions provider PayrollHero, is gaining momentum and slowly positioning itself in the market. At least in the Philippines, for now.
Just for a quick recap, last year was a year of recognition for them. They won second place in our Startup Arena competition in Jakarta, and they were also awarded IT Startup of the Year by CyberPress. This year, along with the recent news that it has raised $1 million in seed funding from 500 startups, comes the ramping up of the company.
Increasing Philippine Interest
Stephen Jagger of PayrollHero says, in the Philippines, more than a thousand companies to date already request access to the system. For a company that just went live in January, it’s getting a good turnout from these local companies. This reflects a need in the market for a more technological payroll platform. Early last year, we shared PayrollHero’s pitch on providing web and mobile based payroll solutions to companies still using manual payroll records. Through their solution, employees can now clock-in through face biometrics using their iPads and iPhones.
But for PayrollHero, its not as simple as inviting companies to join the bandwagon. They are currently “picking and choosing the right types of companies that fit” their current set of solutions.
Our focus is not necessarily on adding tons and tons of random companies but more like making sure that the system works for the different companies.
PayrollHero welcomes companies who calculate their employees’ payroll on an hourly basis. The biggest industries they have tapped in the Philippines that match these requirements are food and beverage, retail, and small-to-medium sized outsourcing companies. He also names Coffee Bean & Tea Leaf and online buying site MetroDeal as two of the many companies already using the platform.
Banking on A Flexible Platform for Expansion
Stephen highlights too that “the system is built in a very flexible way.” Evidence of this is their continuous rollout of new features. The PayrollHero team is now working on allowing companies to deal with the different daily rates in the Philippines. Their SEA expansion also has other new features including new languages and tax codes in their system.
The company’s next step is their targeted rollout of payroll services in Singapore within the year. This too, will be followed by other targeted countries like Indonesia and Malaysia (no specific time frame, yet). Stephen says they want to be careful with their expansion to make sure their rollout for each country is done without any issues.
For this year we’re focused on continuing to roll out our products in the Philippines, and add another country and start rolling out there, so we can make sure we know what we are doing.
Because of this seemingly fast growth, PayrollHero has also added five adventure engineers to their team, who will be based in Whistler, Canada. New roles such as customer service representatives, content creators, and book keepers (those who help customers with their books, and understanding the intricacies of payroll) are also now on the team.
PayrollHero couldn’t give us their current percentage of growth. But Stephen says their goal is definitely “to be the market leader in payroll and attendance scheduling in SEA.”