The End of a Legendary Internship

My ten-week internship with PayrollHero reached its end last week. As a fitting closure to my first post on hiring interns in Singapore, I thought it would be a good idea to write about my experience here. I’ve had an amazing summer at PayrollHero and learned more than I thought I would. Ten weeks flew by and it took a few days to organize my thoughts. Here is what I learned from my internship at a startup in Singapore.

PayrollHero Pragya Last DayLesson 1: Learning is built in to PayrollHero’s DNA

The company doesn’t just declare its “Ridiculously Client Focused” psyche on the website, it lives and breathes the idea. To achieve that end, everyone is always learning new things through whichever means that they can. But it doesn’t end at just learning something by yourself, it’s all about sharing it with everyone else. When I joined the communication channel, Slack, the most interesting channel to me was the reading-list. A mandatory channel for all members, the reading-list includes articles that are relevant to the team from all kinds of sources. Anyone can share something that they have read, and anyone can comment on it.

One of the first things I did at PayrollHero was to broaden my reading base. As an economics student, the obvious reading material I blindly follow are opinion blogs by economists, or economics journals, and of course, the newspaper. But within two weeks, I had apps on my phone that gave me news about startups, tech blogs and more. It was awesome to see that everyone was invested in improving themselves and the team. It was also interesting to see what everyone was reading. Rarely does a college kid get the chance to find out what seasoned entrepreneurs are reading. And here I was, discussing the very articles with the founders of PayrollHero.

Lesson 2: You’re an intern, and you’re still taken seriously

Trust me, this one was huge. While I was interning at PayrollHero, I had friends interning at big accounting firms, consultancies and banks. I would often hear stories about their internships where all they did was photocopy documents for their bosses. This was not the case across the board, but I heard it often enough to realize that my internship was unique.

During the ten weeks, I never once had the impression that I was just an intern slaving away at something inconsequential. If it ever seemed like I was not doing enough, I could speak up about it and get more work to do. The great thing about working in a small place is that there is always something to do and the little that you contribute has a visible impact on the company. Furthermore, Steve ensured that the communication lines were open and that an intern in the Business Development team was equally important (and accountable) as any other member on the BD team. The feeling of being a relevant member of a team is definitely something that I will take with me from this internship.

Lesson 3: Diversity

When I read about PayrollHero before sending in my resume, I loved the idea of Adventure Engineering and knew that PayrollHero was based in the Philippines, Singapore and Canada. To me, that seemed to reflect diversity well enough until I met the team. If you hang out with the Singapore team, you will find yourself in a room with around 10 people representing at least 7 different nations. That is incredible and speaks volumes to the success of PayrollHero’s drive to attract talent, no matter where it comes from.

There are many studies that show how diversity improves results in a company. Diversity was a crucial aspect in my experience. Despite being an international student studying in a foreign country, I had never seen so many nationalities from across the world working together before I showed up at PayrollHero. Imagine this, a Canadian, Ukrainian, Polish, Indian and Filipino sitting in a hawker center, eating a plate of prata and talking about the latest episode of Game of Thrones. As ridiculous as that sounds, it’s just another regular day at PayrollHero. You can’t help but appreciate how easily PayrollHero has embodied the concept of diversity in a company.

Lesson 4: Hanging out with the team over beers

If I look back over the ten weeks I was at PayrollHero, some of the most memorable interactions with the team was not during work, but outside it, when everyone hung out with some beers after a long day of work. I learned the most about the people who make up PayrollHero during this time. Whether it was about their professional lives or just a casual conversation about what everyone’s “ah-ha!” moment was during the DDD workshop, these interactions helped me understand people in a world I had little or no idea about.

I think this is especially invaluable to interns because a large part of interning is to try and figure out what to do with our lives professionally. While colleges make an effort to conduct networking sessions with professionals from every field, it does not come anywhere close to actually spending time with the same people day in and day out.

Finally, all these elements together made for an internship that immensely broadened my perspective. When I first walked into PayrollHero, I wondered if an unstructured internship would teach me anything new or if the work would be rewarding. But the truth is, the very fact that it was an unstructured program made me want to push myself to do new things and be open to ideas that I wasn’t exposed to before. At the end of it, I came away having met inspiring people from all over the world, learning about the startup culture and learning more about myself through it all. I hope the little work I did at PayrollHero was useful to the company. I also greatly appreciate the time invested by Steve and Mike and everyone else to make my internship worth it. At the risk of sounding super cheesy right now: good luck, PayrollHero, and may the force be with you!

Editors Note: Thanks Pragya!! While Pragya is off on her next adventure you will still see her posting on the PayrollHero blog a few times a month.  

PayrollHero Scoop (Take 1)

The PayrollHero Interns in our Singapore office put together a Restaurant News Cast for Singapore. What do you think of their first attempt? Would you like to see more videos like this? Let us know by dropping us an email and posting a comment below.

Want to learn more about the restaurant scene in Singapore? Philippines? Download our Knowledge Kits now (free) for a boat load of helpful information for opening a restaurant.

Creative Destruction in the F&B Industry

Creative Destruction in the F&B IndustryCreative destruction, a term coined by the economist Joseph Schumpeter in 1942, is the concept of “incessant product and process innovation mechanism by which new production units replace outdated ones.” Schumpeter says that disruption is an important part of capitalism because it increases productivity.

As the term suggests, creative destruction isn’t a particularly comfortable concept, especially for those who are on the wrong side of it. The invention of the steam engine led to the creative destruction of travel by horses. The invention of automobiles led to the creative destruction of travel by steam engines. It’s an inevitable result of innovation which can make complete industries obsolete, and take thousands of jobs along with it. The positive outcome is that it creates new industries and redefines jobs within them.

So where is all of this going? McDonald’s recently announced its plan to install self ordering kiosks, thereby reducing manpower in their outlets. It’s not the only company to make a move towards automation. Chili’s Grill and Bar has made a move towards self ordering tablets. Restaurants in the US find automation a way to improve productivity.

There already exists a machine that creates 360 gourmet hamburgers in an hour. The entire machine could replace any human making burgers in the kitchen. According to this report, McDonald’s could fund the development of a burger making machine and see a one year return on investment. There are many reasons why companies are moving towards automating their processes.

In the United States, a big reason for this is the growing cost of labour. Currently, the minimum wage in the US is $7.25 per hour. For a few years now, workers in the F&B industry have protested that this number is far too low for it to be sustainable. They say that the reasonable wage floor should be at $15 per hour. LA recently passed legislation for $15 per hour.

The result of this is that fast food franchises are finding it increasingly difficult to cope with the labour costs. The alternative is to automate. Mundane and repetitive tasks can be done by smart machines. Jobs where human interaction is required, like serving food, can be taken up by people. Another reason why automation makes sense is that it’s more efficient and faster. Queues are shorter, human errors are less common, if not completely erased.

You can see parallels in the F&B industry between the US and countries like Japan and Singapore. On the one hand, labour costs are increasing in the US, forcing companies to automate. On the other hand, Japan and Singapore are facing a labour crunch often due to unwillingness of the countries’ citizens to participate in this industry, leading these countries to automate as well. The story is the same, where labour as a factor of production is being replaced by machines that can do the same work and produce better results. And this is where creative destruction fits in.

What does this mean for the F&B industry? Restaurant technology will develop and will facilitate automation. The hamburger machine by Momentum Machines, Inc is just the beginning in the back-end of a restaurant. POS systems, self ordering kiosks, cloud based scheduling applications and online reservation websites are taking over the work of regular staff in a restaurant. An entire ecosystem of automation surrounding retail and F&B already exists but what will trigger the momentum of creative destruction is the lack of a sustainable solution to the problem of increasing costs: in this case, the cost of labour.

SME Business Conference: 19th and 20th of August

Singapore Chinese Chamber of CommerceThe Singapore Chinese Chamber of Commerce & Industry is organizing a 3 day bilingual SME Business Conference on the 19th and 20th of August in the Exhibition Halls of Suntec Singapore. The event is co-organized by iDA Singapore and Lianhe Zaobao. The theme of the event is “Think Creatively, Act Innovatively”.

The SME community in Singapore gathers every year to share ideas about how to boost productivity, cut down costs and more. This year, the conference caters towards transforming businesses in Singapore through innovations in productivity.

With that theme in mind, the event will feature speakers from all facets of the business world, from startups to large corporations. They will speak about why businesses need to be agile in order to keep up with ever-changing global trends. One of the interesting sessions is on integrating technology like cloud computing, business analytics, social media and customer relationship management so that small businesses can scale smartly.

Singapore SME Conference AugustNow here is the awesome part. In an event like this, you can’t expect PayrollHero to be left behind, can you? Steve Jagger from PayrollHero will be speaking in a forum on “Innovation and Value Creation from Buzzwords to Actions for Business”. Steve will be joined by a panel comprising Dr Christopher Holmes, managing director of IDC Insights Asia Pacific, Ms Jenny Jang, manager of Jiransoft, Mr Law Chee Keong, director of Asia Pacific Partner Sales in Apigee. The discussion will focus on how Singapore businesses can transform their business plan into a reality by adopting technology.

The forum will be between 2.15pm to 5pm. in Hall 404. Mr Stephen Lim, CEO of SQL View will be moderating the discussion. Mr. Lim has a wealth of experience behind him: he is a member of the board of SPRING Singapore and NTUC Fairprice. He has 25 years of experience in the IT industry and is the perfect person to host this forum.

We’re excited about the event and hope to see many business personalities participating and networking over the two days of the programme. It will be interesting to see academics, notable members of the government and business people discuss the way forward for small and medium enterprises in Singapore. We look forward to the event and wish the Singapore Chinese Chamber of Commerce & Industry good luck for hosting the conference!

How to Deal with the Labour Crunch in Singapore

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As you know, the F&B sector in Singapore has been facing a labour crunch for years now. Currently, for every foreign worker, the F&B sector needs to hire 6 local workers which is an impossible ratio for companies to handle. To attract more local workers, restaurants have had to raise costs without any increase in quality of service. Restaurants that were unable to do this resorted to leaving tables empty.

The Restaurant Association of Singapore proposed some solutions, including relaxing the foreign workers’ levy. While this measure is up to the government’s discretion, there are ways that restaurants can cope with the labour crunch.

Increasing Productivity through Technology

There are many front-end and back-end processes that can be streamlined by automating. In terms of adopting new technology, the restaurant industry has traditionally lagged behind the rest. However, the need to automate is clearer now than ever before. There are many examples in Singapore where restaurants have installed POS systems, set up digital menus or moved the practice of making reservations online.

Sakae Sushi in Singapore is a great example of automated processes. They have a conveyor belt that serves sushi. The belt is an island that is surrounded by tables so that customers can pick whichever dish they like. The restaurant also has iPads on every table to allow customers to order using the menu on the iPad.

McDonald’s Singapore is just catching up to the reality of increasing costs. Four out of approximately 120 outlets in Singapore have kiosks from which customers can order. 20% of their customers use kiosks. The systems reduce manpower required to take orders. It also makes the ordering process fool-proof, thereby saving time and money by preventing errors due to miscommunication between the customer and employee. In addition to reducing errors, McDonald’s employees can focus on back-end tasks and speed up service.

Balancing out costs: The result of automating is that there are shorter queues and more customers walking in through the door. The self ordering payment systems that Ananda Bhavan, a restaurant chain in Singapore uses, cost around $40,000. But in the long run, the investment pays off because of more orders and higher revenue.

To see a more tangible improvement in processes, Aptsys – a self-ordering POS system – released statistics on their website on how their product benefits restaurants. By their estimates, ordering speed increased by 70%, repeat orders increased by 30% and human errors decreased by 80%.

Tax credits: The government of Singapore has come up with incentives for companies to adopt newer technology. This includes training the staff with the new technology as well. The Productivity and Innovation Credit Scheme gives companies a 400% tax deductions or 60% cash payout as long as the improvements in technology come under the six qualifying activities.

Singaporean restaurants are increasingly seeing a fall in revenue because of empty tables and increasing labour costs. The only way for the industry to cope with falling margins is to adopt technology that can reduce manpower. We have previously suggested ways to upgrade and adopt new technology in areas of reservations, POS systems and food delivery. Over the next few years, it remains to be seen whether foreign worker quotas will be relaxed in order to release the pressure that these industries are under. Currently, the way to move forward is by using the tax credits that the government is offering to upgrade restaurant technology.

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The World of Restaurant Technology in Singapore

The tiny red dot, as Singapore is often called, is an interesting testing ground for restaurant technology. Singapore is famous for its awesome food. From hawker stalls to gourmet dining, the restaurant scene in Singapore is vibrant and diverse.

At PayrollHero, a huge part of being ridiculously client focused is in understanding what our clients need and use on a regular basis. What do Singaporean restaurants do for point of sale systems, for reservations, for creating menus or for scheduling shifts for their employees? There are a ton of apps out there that are especially designed for this industry. We looked at some apps that piqued our interest.

Reserving Tables: Chope

Asia’s answer to OpenTable and SeatMe: Chope helps diners reserve tables at restaurants in Singapore, Shanghai, Beijing, Bangkok and Hong Kong, free of cost. Restaurants can manage reservations through Chope. The company is expanding and adding new restaurants to its list every week.

Point of Sales Systems: PCS

Prima Computer Systems tackles the problem of inefficient POS systems. The cloud based solution makes it easier for a multi-location restaurant franchises to integrate POS systems. The app allows you to create and change menus in iPads, therefore reducing manpower costs. Considering the labour crunch in the F&B industry in Singapore, this helps restaurants focus their employees towards providing better service.

Digital Wallets

Singapore was one of the first countries in Southeast Asia to adopt digital wallets, back in 2012. Many restaurants have adopted mobile payment options. In terms of consumer readiness, Singapore comes second only to the Philippines at 17%. It beats all other countries for electronic payments at 42%. Local and international banks are a part of this movement towards mobile payments. OCBC’s Pay Anyone, DBS’s PayLah! and Standard Chartered Bank’s Dash are all useful options that restaurateurs should look at to integrate their POS systems with.

An interesting thing to note for restaurants and for businesses that are building easier payment methods is that the demographics on who is using mobile payments is revealing of whom the target market should be. Unsurprisingly, millennials lead the move towards mobile payments. More importantly, data shows that men are twice as likely to adopt the new technology compared to women. CEO of Harbourtouch (company that did the survey on the demographics of mobile and electronic payments), Jared Isaacman, said that there is a void when it comes to mobile payment in restaurants. Retail stores use this technology far more frequently, which indicates a potential opportunity in the F&B industry.

Loyalty Apps: Perx

Perx says that customers spend 7 times more using Perx than without. Loyalty apps remove the hassle of printing loyalty cards and trying to measure how effective the cards are. Perx offers a CRM solutions and a platform for businesses. Restaurant owners have access to how effective the loyalty app is in increasing revenue.

Inventory Management: TradeGecko

TradeGecko is racing through Asia. The Enterprise Resource Planning software is integrated with Xero, Quickbooks and Shopify among other companies. It offers analytics reports on inventory and stock. From the perspective of the F&B industry, TradeGecko helps a chef or a restaurant keep tabs on supplies. All this is done using the cloud, which simplifies the entire process for a restaurant chain.

There are two similarities that link all these apps together:

  • They are all cloud based
  • They all complement scalability.

Our research into Southeast Asia led us to an interesting observation. A single restaurant franchise owner may operate across multiple countries. Apps like these are useful for the kind of owner that needs to keep tabs on all his outlets, across different countries. It helps the restaurant owner that currently owns one café and is looking for a way to open 25 more within two years.

We also noticed that in Southeast Asia, consumption trends suggest that fast food chains are going to excel in the next five years. For example, the compounded annual growth rate (CAGR) for fast food chains in the Philippines is 8.1% between 2013 and 2017. The potential that this poses for cloud based solutions is both exciting and massive.

Over the last few weeks, we have been looking deeply into the F&B industry. We focused on the Philippines and Singapore, with the idea of comparing and contrasting a nascent economy versus a mature one to figure out the potential that this region poses. We also compared what kind of employee compensation and benefits are provided by these countries with the perspective of figuring out what our client – a restaurant owner – is most concerned about.

While the data supported some assumptions or destroyed preconceived notions, we found out that there was more to this research than just raw data. We spoke to restaurant owners on the ground to listen to their stories and build a clearer picture.

Finally, we compiled all of it into a nice little package that we call the PayrollHero Knowledge Kit. It provides snippets into our research with statistics on the F&B industry in Singapore and the Philippines. We are super excited about sharing it with you because we want to know how it helps startups that are catering to the F&B industry. We also want to hear about the insight that you have gained from working in this part of the world.

The pictures below link you to the PH and SG Knowledge Kits. Open it, browse through it and shoot us with questions. We want to know what you think.

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New Feature on the PayrollHero App!

We have a new feature on the PayrollHero app!

Our Devs (developers) are constantly working towards improving functionality of the app. To that end, we have a new feature to enhance a human resource manager’s tools. It’s a simple addition to the app that allows the HR manager or payroll administrator to:

  1. check the GPS coordinates of employees who are clocking in.
  2. record which device they are clocking in from

The feature sits in the Employees tab and under the Rollcall Days section. You can see the list of days that the employee has clocked in, their IP address, GPS coordinates linking to Google maps and the device that they used: TeamClock or #MyClock. If there are any issues with clocking in with a particular device, the HR admin can point out what specific device the problem arose from. This information can also be used as Business Intelligence to make decision on staffing and installing the best devices in your outlets.

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The feature is already live for all PayrollHero users!

PayrollHero’s First Twitter Contest!

As you know, we have been creating some handy guides for opening restaurants in Singapore and the Philippines. We call them the PayrollHero Knowledge Kits.

Since we’re so excited about them and want to share them with the world, we’re hosting our first ever Twitter contest! From now until July 17th (Hari Raya Puasa), all you need to do, is retweet the link below to as many people as you can on your network.

If you can reach out to the most number of restaurants, businesses or people, we will feature you on our own blog! 

Why is this a good idea for you? Well, we have been featuring famous actors and basketball players on our blog: celebrities like Rocco Nacino, Shawn Weinstein and Sean Anthony have shared their favorite restaurants with us. How awesome would it be to get in on the action! You know you’re thinking to yourself, “this would be a great PR opportunity…”

Make sure you’re following @PayrollHero so you’re in the loop because in the coming weeks, we will be coming up with some great opportunities like this for you.

So what are you waiting for? Get tweeting! Your 15 minutes of PayrollHero fame awaits.

Below, you can see an example of a Twitter post that retweets the Knowledge Kits:

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