1) Startup Profile
The Philippines startup PayrollHero has transformed the painful and unreliable HR management systems into an exciting and accurate consumer-friendly HR platform for web and mobile.
- Clock in and out every day by taking a selfie
- Facial recognition ensure the right person is there at the right time
- Track time, attendance, scheduling and analytics in your business with one simple system
Date created: September 2012
Team: 23 Full-time staff
Funding: $1 million seed round from 500Startups, LX Ventures, Futura, and others
Users: Businesses (restaurants, retail, offices…)
Markets: Philippines, Singapore, Indonesia, Malaysia, Thailand, Cambodia, Vietnam, Canada, US
Achievements: thousands of employees clocking in and out on the platform every day
2) Startup Analysis: Payroll Hero
Innovative level: 4/5
Michael Stephensen, co-founder of PayrollHero arrived in Manila in 2008 to setup a back-office for the 150 employees of his last software company (sold 2014, now public on ASX). That’s how he realized there was no accurate cloud based payroll system on the market that worked for the Philippines, and created an internal application for his HR Team. They loved it so much that other companies got to know about the app and started asking to use it as well! What started as an internal solution for their team has evolved into a standalone platform for web and mobile in 2012. “Our competitors range from other startups and traditional software solutions to outsourced payroll providers and all the way to Excel. Many of our clients have come off of either a very manual solution or a tool that they have outgrown.”
Funding : 2/5
PayrollHero raised a $1 million seed round from 500Startups, LX Ventures, Futura, and others in February 2013, and “should have a new funding announcement soon” according to the other co-founder of the startup, Stephen Jagger.
Teams expertise: 4/5
Track record : 2/5
The startup has thousands of employees clocking in and out on the platform every day. “As for customers, we focus on the restaurant and retail sectors with Nespresso, The New Black and Munch SaladSmith as a few of our clients” says Stephen.
Every new customer must go through an onboarding process of about 60 days depending on the size of the client and their requirements. PayrollHero offers 3 certification courses to get the most value possible out of their solution.