Judah Hirsch was only 21 years old when he left Israel to come to the Philippines to work as a manager in a call center company. Two years later, he resigned and launched his own consulting firm from his apartment with only $800 as initial capital. Over the years, Hirsch grew his consulting business, which provides legal and business support services to foreign-based businesses, to a Php100-million annual revenue company. One of the services that his firm provides is outsourced payroll solutions.
Hirsch thought that he could scale up this particular business segment by offering cloud-based payroll software that provides cost-effective, real-time payroll processing. That idea led Hirsch to establish his own startup called Salarium three years ago.
Salarium, today, is one of the biggest payroll providers in the market servicing over 15,000 employees. Riding on the strong growth momentum of Salarium, Hirsch is planning to raise up to $70 million worth of cryptocurrency through an Initial Coin Offering (ICO), a first of its kind in the country.
Hirsch plans to use the proceeds from the coin offering to build an innovative payment infrastructure that will allow Salarium to expand its client user community both here and abroad.
How does Hirsch plan to use cryptocurrency to grow his startup?
Create value-added services to grow customer base
Building long-term customer value may be more important than the product itself because it leads to a stronger sales relationship that may generate more sales in the future. Providing value-added services is one way to create customer value. Every customer derives different levels of satisfaction depending on how the additional service satisfies the customer’s needs and goals.
“When our clients use our software to pay the salaries of their employees, the money is automatically credited to their digital wallets, which we call SALPay accounts,” Hirsch explained. “Wallet-holders can use it to transact business anywhere like shopping online or buying loads at 10-percent discount.
“We also offer financial services to our customers. We help them remit funds from their digital wallets to any bank in the Philippines. We also help employees keep track of their finances and access to credit at reduced costs through our accredited lenders.”
