Fintech firm launches payroll solution, eyes PH enterprises

Financial technology company Salarium has launched the latest version of its payroll processing software and has unveiled plans to target large businesses in the Philippines.

Salarium founder and CEO Judah Hirsch

The company, which has roots in Hong Kong and the Philippines, currently has a significant market share for its payroll software in the country’s small to medium enterprise or SMEs.

Salarium currently has 600 companies as clients, and 40,000 to 50,000 individual users. This time, however, the company will be eyeing bigger companies, said Judah Hirsch, Salarium founder and CEO.

“We wanted to provide large Philippine enterprises with a highly customizable payroll solution that is ideal for solutions integrators,” Hirsch said.

In terms of business sector, Hirsch said Salarium is eyeing companies belonging to the construction, retail, multinationals, and business process outsourcing or BPO, among others.

Hirsch said Salarium is also “open” to working with the Philippines government, and is in fact “in talks” with a government agency. However, details remain under wraps.

“We cannot name the government department yet, as we are still in the process of getting accreditation so we can participate in government projects,” Hirsch said. 

Hirsch said one of the main features of the software, called “Salarium 3.0” is its “modular” architecture.

“Company’s needs vary on a case-to-case basis, so we decided to shift to a modular microservices-based architecture. This makes Salarium ideal for integrating into an existing structure or system, and it allows us to create highly customizable technological solutions for our clients,” Hirsch said.

The biggest change from previous iterations is that instead of distributing the software as a single bundle of services, Salarium now offers each service as an individual module so that large businesses need not be concerned about the difficulty of integrating the software because they can choose the specific solutions that meet their needs.

The company further said Salarium 3.0’s modular setup is “a response to the demand for scalable technological solutions to process-heavy administrative tasks, and as a company grows, scalability becomes essential to maintaining the quality and reliability of its services.”

Hirsch further said Salarium has about 120 employees in the Philippines alone, with some 50 engineers working on the company flagship product.

The executive said plans to further expand are underway, and that the company has set a lofty goal becoming a “billion-dollar” software firm based in the Philippines.

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