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iTalent Management

Enterprise Digital HR Automation

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.

Product

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.

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.

Team

Victor Phang Yong Soon avatar
Victor Phang Yong Soon CEO / Founder
Victor, as the Founder and CEO of iTalent Management, is responsible in strategizing the direction of iTalent Management operation, vision, mission and objectives. Victor is a Master degree holder in Executive Management. Before he founded iTalent Management, Victor had worked in a few Japanese and Korean conglomerates, which provided him ... See more
Victor, as the Founder and CEO of iTalent Management, is responsible in strategizing the direction of iTalent Management operation, vision, mission and objectives. Victor is a Master degree holder in Executive Management. Before he founded iTalent Management, Victor had worked in a few Japanese and Korean conglomerates, which provided him international exposure and experience. As the CEO of iTalent Managment, he works collaboratively with his team of colleagues to put forth overseas expansion initiatives to countries such as Singapore, Indonesia, Australia and Thailand. This effort is in line with the company’s objectives to drive iTalent to international market. See less
Chai Yung Joon avatar
Chai Yung Joon System Innovation Director
Chai Yung Joon as the System Innovation Director of iTalent Management, is responsible to oversee and manage the development of information technology and system at iTalent Management. Graduated with Master of Computer Science, Chai had acquired a wealth of knowledge in the field of information technology (IT), which encompasses areas ... See more
Chai Yung Joon as the System Innovation Director of iTalent Management, is responsible to oversee and manage the development of information technology and system at iTalent Management. Graduated with Master of Computer Science, Chai had acquired a wealth of knowledge in the field of information technology (IT), which encompasses areas such as programming language, webpage design, and database. See less
Nureliana Binti Baderi avatar
Nureliana Binti Baderi CFO
Graduated with Master of Science (Finance), Liana has 3 years of experience in preparing financial planning, financial projection and financial analysis. She is accountable for the administrative, financial, and risk management operations of the company, to include the development of a financial and operational strategy, metrics tied to that strategy, ... See more
Graduated with Master of Science (Finance), Liana has 3 years of experience in preparing financial planning, financial projection and financial analysis. She is accountable for the administrative, financial, and risk management operations of the company, to include the development of a financial and operational strategy, metrics tied to that strategy, and the ongoing development and monitoring of control systems designed to preserve company assets and report accurate financial results. See less

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. 

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.

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.

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

Return on Investment

We steer towards an IPO or trade sale deal within 3-5 years, at a valuation 5 times higher than the current one.

Risk Analysis

All the traffic coming to and from iTalent Digital HR and whichever company passes through the internet. There is always a risk that this data may be intercepted or tapped by unauthorized parties. For this reason, companies should connect to iTalent Digital HR platforms through secure browser URLs. Encryption and authentication protocols also implemented to enhance security. In addition, most cloud-implementing companies may not have the knowledge and resources to implement cloud solutions. This is not any different when it comes to iTalent. For this reason, continuous upskilling of existing staff and hiring experienced personnel may be necessary.