“There are two things that’s the most important to us, the cost of transaction and the transaction speed.” Expressed by Nazroof hakim, CEO and founder of billplz.com which helps merchants gets paid and pay fastest at the lowest possible.
Nazroof said that every year in Malaysia there’s half a billion in market participants that is 17 to 18 year olds joining the marketplace, the age where most start to try and find their own money, which made the option of owning a business as the number one choice. Most of the businesses takes place online, they pay and get paid online. They don’t interfere with any single existing method, they integrate with the top present methods there are; online banking, credit cards and presently they are looking into bitcoin. “so we are agnostic in that sense,” Nazroof implied.
“What happened is, we congregate all the developers nationwide under this Facebook page of billplz, and guess what? They do our customer service, because it’s all based on this mutual understanding that together we are stronger. Because of that, billplz can offer the lowest at the fastest speed possible to the merchants. It’s kind of like an open source community where we help each other.”
For their financial objectives, they run a very little team, so from that cost saving, it benefits back to the merchants in the form of lowest fees and fastness.
The company prided themselves as an equal opportunity company where sex and gender doesn’t matter as long as you as the employee deliver. The biggest challenge that Billplz faced as a startup was retaining team members because “you don’t build businesses, you build people, and people build the company.” Nazroof said.
He added that Sean Parker of Napster said something like “Team A equals to A result” but that’s common sense but when you’re in operation it’s not so simple and not so common. Billplz makes sure that the employees you are in team A and always team A but team A costs a lot of money, the company makes sure that the employees’ salary are above market price and receive unlimited vacations, some of their benefits that you’ll get, as long as you deliver. The company have a software which looks at work philosophy, revenue per employee, revenue generated by each employee which determines the productivity of each employee.
Nazroof said that their biggest highlight was getting Axiata on board while in terms of personal achievement, “I liked the fact that when we did our investments portfolio, a startup who got 5 times more funding ‘closed shop’ in January 2017 but we’re still going strong. It’s unfortunate what happened to that startup, but it gives me joy to see that even though we received 5 times less, we’re still going strong, which mainly is because of teamwork.”
When asked regarding their plans in 2018, he said they’re going to expand to 3 countries outside Malaysia, namely Indonesia, Singapore, Brunei which are at the south of ASEAN, it’s important because the merchants when they interviewed does a lot of business over there probably because of the more or less the same culture. “That’s our priority, expansion. In terms of revenue, we made RM 70 million last year, we want to double it to probably half a billion, obviously increasing earnings and salaries.” Nazroof also stated that “Most importantly, I want to be known as the most generous employer in Malaysia in 2018. We go above and beyond to pay our team members because at the end of the day, team A equal A results, and it’s needed to retain team A.”