Kyrim CEO Januar Parlindungan
When asked about the most important milestones that Kyrim has made recently, CEO Januar Parlindungan highlights the ISO/IEC 27001 certification and the PJP3 license from Bank Indonesia.
“Getting the ISO/IEC 27001 certification and the PJP 3 license from Bank Indonesia was something we aimed for from the start because we knew how important it is to build credibility in fintech. These certifications show that we meet top standards in data security and payment processing,” he reveals in an email to e27.
“They have helped us attract more clients, form solid partnerships with banks, and build lasting trust in our brand, which has been key to our growth.”
Founded in 2023, Indonesia-based Kyrim is a fintech service specialising in spend management for corporate finance teams. Focusing on helping B2B companies navigate the complexities of the spend management process, Kyrim empowers businesses to achieve sustainable growth in this competitive sector.
Currently, the Kyrim team comprises over 25 talented individuals with diverse expertise in compliance, finance, cybersecurity, product development, and client support.
As the company continues to grow, plans are underway to expand the team, particularly in business development and customer success. This strategic expansion aims to meet the increasing demands of Kyrim’s expanding client base, ensuring that the company can continue to deliver high-quality, tailored services to its clients.
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What else does the company have in store? Parlindungan reveals to e27 in this email interview.
The following is an edited excerpt of 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?
At Kyrim, our goal has always been to converge technology with finance to make things easier and more efficient for our clients.
We are focused on using AI and OCR technology to streamline and automate payment management. With OCR, for example, we can automatically pull and process data from invoices and receipts, cutting down on manual work and mistakes. This speeds up the whole process, helps our clients save money, and improves accuracy in their financial operations.
With the release of your spend management platform, how has the market responded to these offerings? Have there been any unexpected challenges or successes? How do you tackle it?
The market has been pretty positive about our spend management platform, especially in industries that really need smooth vendor and payroll management. One challenge was the demand for more customisation to fit specific industry needs or to work with our clients’ existing systems.
To tackle these challenges, we are planning to invest in a more flexible platform that can easily adapt to existing platforms in Indonesia in a partnership and offer tailored solutions for our clients.
Kyrim has plans to expand into B2C solutions by 2025. What strategic considerations guide this expansion? How do you envision transitioning from a B2B-focused company to addressing B2C needs?
Our roadmap into B2C is all about meeting the growing demand for easy and transparent financial tools for everyday consumers.
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We plan to use our B2B know-how and infrastructure to create a B2C platform that’s just as secure and efficient. We will start by focusing on segments that are a natural fit for us, like small and medium business (MSME) owners and maybe cooperatives, and then gradually expand to a wider audience. This way, we can fine-tune our offerings as we grow.
Plus, having a solid B2B customer base gives us a built-in ecosystem to tap into.
With over 200 enterprise clients and 100,000 transactions achieved in 2024, what have been the key drivers behind this client acquisition success, and how do you plan to sustain this momentum?
We aim to reach over 200 enterprise clients and handle 100,000 transactions by the end of 2024. We understand it is a big target to reach, but we believe in our commitment to building a secure, user-friendly platform that solves spend management problems.
Plus, our certification in ISO 270001 and Bank Indonesia License has been a big help. To keep this momentum going and hit our targets, we are investing in R&D to keep improving, boosting our marketing to reach more people, and staying on top of customer feedback to make sure we are always meeting their needs.
Have you raised any external funding? Do you have any plans?
So far, Kyrim has been primarily funded through internal resources and revenue generated from our client base.
However, we are considering strategic external funding options as we look towards scaling our product offering and further enhancing our platform. These funds would help accelerate our growth trajectory, enable us to expand our team, and bring in additional expertise to support our ambitious goals.
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Image Credit: Kyrim
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