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iTalent Management - Enterprise Digital HR Automation

Elevator pitch

iTalent is an Enterprise Digital HR company that sells affordable people management solutions to enterprises. We are capitalizing today's strong demand for cloud-based solutions and help businesses digitalizing their processes to achieve global scalability and data-driven HR operation.

Investor proposal

The opportunity to grow with our company which is in a digital HR industry that would be worth $110 billion in market size by 2018.

iTalent has a sustainable business model and proven solution that attracts enterprises to implement the system easily. In addition, the company is led by a passionate and energetic leadership with a strong youthful team.

By supporting us, you are also entitled to preferential dividends for at least 4 years from the date of investment. We steer towards an IPO or trade sale deal within 3-5 years, at a valuation 5 times higher than presently.

Idea

The problem this product solves
In ASEAN, various sectors experience common HR issues. With manual operation in enterprises, the level of HR service is dependent on a large number of individuals and it's time-consuming, uses valuable intellectual resources on repetitive and routine tasks. These tasks are open to human error and privacy breaches.

These manual processes are not only causing problems with manpower management, but also making information unable to be used for reporting, analysis or identifying trends through data discovery. Besides, manual reporting and checking that data is robust can be expensive and time consuming.

How the product solves it
Our proposition automates the enterprise HR process making payroll and all related people management processes seamless. HR specialists can also spend more time on analyzing data in order to deliver timely and data-driven HR decisions.  

In addition, a self-contained automated HR process like iTalent is safer and more secure as it also improves processes for geographically diverse locations. Additionally, workflows streamline the information updating process through a maker-checker system; and reduce the chances of manual error or loss of data. Furthermore, the HR solution just gets the job done, regardless of location, time or day.

Gallery

Product

Product features
iTalent Digital HR was developed and launched to the market in October 2014. It’s a one-stop digital solution for talent management. iTalent uses a fully integrated system which covers the entire spectrum of recruitment, compensation, performance management and HR analytics. Our services' objective is to provide digitized HR solutions to accelerate manual operations toward automation and streamlining of these HR processes resulting in an efficient HR management for businesses.

iTalent has powerful HR solutions to its name; HR Business Intelligence Genius (hr-BIG), that helps leaders transfigure and integrate various HR data into useful decision options.

Product use cases
iTalent is designed for the bulk of computing to happen in the cloud, with the universality of access from various device types globally. It also offers high quality people analytics. By removing sensitive hardware, on-the-spot software maintenance, and troublesome upgrades, iTalent helps companies save a lot of dollars. As for the security aspects of applications and data are much better taken care of by iTalent. The cloud software is designed for security from the ground up, with apps and data being hosted remotely, and encrypted data being sent to the client side only on a need basis.

Market

Target Market
According to the public cloud benchmark, the cloud computing market is expected to experience a 20% growth back to back till 2018. Such a concurrent growth will improve the revenue in the sector from $67 billion in 2014 to $110 billion by 2018.
 
iTalent targets customers from all industries across the Asia Pacific region. Multinationals involved in cross-border activities and with a diverse workforce population (500 to 10,000 employees) will be the primary customers of the iTalent Digital HR product.

Competitive landscape
iTalent stand out from our peers as we are able to provide end to end online HR suite from recruitment to performance management to HR business intelligence at a cost effective price for corporations.

On the global scale, the market leaders such as SAP, Oracle and Workday would dominate the digital HR industry, but we are not afraid to dream to the likes of them one day.

Unique differentiator from competitors
  1. With iTalent Digital HR, implementation is quick and painless. Plus, thanks to open APIs,  it is designed to integrate with applications already in use.
  2. This makes implementation less stressful and it won’t disrupt day-to-day business.
  3. Automatic system updates and upgrades make it easy for iTalent to stay cutting edge and increasingly useful.
  4. iTalent Digital HR is certified by ISO 27001 for its world-class information security infrastructure. 

Business Model

Company revenue streams
iTalent Digital HR Suite adopts a software-as-a-service (SaaS) business model. The clients will pay for the subscription fee on a monthly basis based on the usage. The unit price is between US$ 1.50 to US$ 3.50 per employee per month, depending on the module(s) and number of licenses subscribed by the company. For example: A company subscribes to full iTalent modules with 1,000 employees. Monthly subscription fee: US$ 2 x 1,000 employees = US$ 2,000. 

iTalent is also generating revenue from system customization service fee based on each client's specific system needs.

Product/service distribution
There are two target markets for the iTalent Digital HR services, which is targeting large enterprises primarily and small and medium enterprises (SMEs). The acquisition strategy for large enterprises is through corporate sales and resellers while online subscriptions would be for SMEs.

Execution

Previous milestones/traction
  • The co-founders of iTalent personally invested their own capital into the business amounting to RM300,000 collectively
  • Featured in printed articles by APAC CIO Outlook Magazine and Immersion Indonesia Program.
  • Interviewed and featured on The Star Malaysia, Malaysian SME and University of Malaya
  • Awarded MSC Malaysia Status in April 2015 that entitles our company to 5 years of 100% corporate tax exemption
  • World-class information security infrastructure with ISO 27001 certification for iTalent

Next key objectives
We have big dreams and these are the objectives we would like to achieve by year 2020:
  • To become top 3 Enterprise Digital HR solution provider in Asia Pacific Region.
  • To research & develop Digital HR system according to each country’s statutory requirement.
  • To acquire 1,000,000 subscribers for iTalent Digital HR suite in Asia Pacific Region by 2020.
  • To achieve US$ 20 million revenue with 45% profit margin by 2020. 

Previous Financing
The majority of financing undertaken by the company is used to help secure the current office premises. iTalent philosophy was to establish "a globally recognized digital HR suite" company by investing our own capital investment and aspire to find future investors like yourselves to help us to grow to greater heights.

Partnerships
We work closely with Malaysia Digital Economy Corporation (MDec) which is an agency under the Ministry of Communications and Multimedia Malaysia. MDec provides great support to us in the areas of tax incentive, market access and advisory services.

Industry Recognition

Industry Certifications/Awards
2016: 25 Most Promosing HR Technology by APAC CIO Outlook
2016: Participant of Market Immersion Indonesia
2016: Exhibition at Outsourcing World Summit at Florida USA
2015: Asia Pacific ICT Award by The National ICT Association of Malaysia
2015: Business Process Outsourcing of the Year by Outsourcing Malaysia
2015: Speaker at USCI University Student Entrepreneurial Experience Conference
2015: Speaker at University of Malaya HR Outsourcing Seminar
2015: Speaker at Penang Shared Service Outsourcing Conference
2014: HR Innovation Award by Malaysia Institute of Human Resource Management
2014: Business Process Outsourcing of the Year by Outsourcing Malaysia
2014: Speaker for Nationwide Innovation Seminar

Use of Funds

  1. 70% - Advertising & marketing activities. Includes organizing HR Technology seminars, participating exhibition & trade shows and online advertising in Google & LinkedIn.
  2. 30% - Hiring system engineers to develop and localise system functionality for each country's statutory requirement. Between Nov 2016 to Jun 2017.
For details, please see Financial Forecast.