Kyrim CEO Januar Parlindungan
When asked about the recent milestones achieved by Kyrim, CEO Januar Parlindungan emphasized the significance of the ISO/IEC 27001 certification and the PJP3 license from Bank Indonesia.
“Securing the ISO/IEC 27001 certification and the PJP 3 license from Bank Indonesia was a key objective for us as we recognized the importance of establishing credibility in the fintech sector. These certifications demonstrate our adherence to top-tier standards in data security and payment processing,” he stated in an email to e27.
“They have played a vital role in attracting new clients, forging strong partnerships with banks, and building enduring trust in our brand, which has been fundamental to our growth.”
Established in 2023, Kyrim, based in Indonesia, offers fintech services specializing in spend management for corporate finance teams. By assisting B2B companies in navigating the complexities of spend management, Kyrim empowers businesses to achieve sustainable growth in a competitive environment.
The Kyrim team currently consists of over 25 skilled individuals with diverse expertise in compliance, finance, cybersecurity, product development, and client support.
As the company continues to expand, plans are in place to grow the team, particularly in the areas of business development and customer success. This strategic expansion aims to meet the increasing demands of Kyrim’s expanding client base, ensuring the delivery of high-quality, customized services.
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What does the future hold for the company? Parlindungan shared insights with e27 in an email interview.
Below is an edited excerpt from the conversation.
Your platform’s comprehensive payment management and AI and OCR technology are major selling points. Can you elaborate on how these technologies are integrated into your services and the benefits they offer to your clients?
In Kyrim, our objective has always been to merge technology with finance to simplify and enhance efficiency for our clients.
We focus on leveraging AI and OCR technology to streamline and automate payment management. For instance, with OCR, we can automatically extract and process data from invoices and receipts, reducing manual work and errors. This accelerates the overall process, helps clients save money, and enhances accuracy in their financial operations.
With the launch of your spend management platform, how has the market responded to these offerings? Have there been any unexpected challenges or successes? How do you address them?
The market has responded positively to our spend management platform, especially in industries requiring seamless vendor and payroll management. One challenge we encountered was the need for more customization to align with specific industry requirements or integrate with our clients’ existing systems.
To tackle these challenges, we plan to invest in a more flexible platform that can easily adapt to Indonesia’s existing systems through partnerships and offer tailored solutions to our clients.
Kyrim aims to expand into B2C solutions by 2025. What strategic considerations guide this expansion? How do you plan to transition from a B2B-focused company to addressing B2C needs?
Our roadmap into B2C focuses on meeting the escalating demand for user-friendly and transparent financial tools for everyday consumers.
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We intend to utilize our B2B expertise and infrastructure to develop a secure and efficient B2C platform. Initially, we will target segments that align naturally with us, such as small and medium business (MSME) owners, and possibly cooperatives, before expanding to a broader audience. This approach allows us to refine our offerings as we grow.
Furthermore, having a strong B2B customer base provides us with an established ecosystem to leverage.
With over 200 enterprise clients and 100,000 transactions achieved in 2024, what were the key drivers behind this client acquisition success, and how do you plan to maintain this momentum?
Our target is to reach over 200 enterprise clients and process 100,000 transactions by the end of 2024. While it is a challenging goal to achieve, we are confident in our commitment to developing a secure, user-friendly platform that resolves spend management challenges.
Additionally, our ISO 270001 certification and Bank Indonesia License have significantly contributed to our success. To sustain this momentum and achieve our targets, we are focusing on research and development to enhance our platform, ramping up marketing efforts to reach a wider audience, and prioritizing customer feedback to ensure we consistently meet their needs.
Have you secured external funding? Any plans for the future?
Thus far, Kyrim has primarily relied on internal resources and revenue generated from our client base.
However, we are exploring strategic options for external funding as we aim to expand our product offerings and enhance our platform further. This funding would facilitate our growth trajectory, enable team expansion, and bring in additional expertise to support our ambitious objectives.
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Image Credit: Kyrim
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