HR-Tech Venteny Startup Enters B2C Segment, Targets Individual Users

Startup HR-tech Venteny revealed that now the application can be used by employees from any company personally. Previously to use a service that tried to align employee happiness with business performance, companies had to subscribe.

This plan will be realized next year as part of Venteny’s ambition to become an ’employee superapp’. This startup from the Philippines has entered Indonesia since 2019, and has now reached more than 180 thousand users from 140 companies from various business scales and industry verticals.

While in its home country, Venteny has reached more than 250 thousand users since it first operated in 2015.

In a virtual press conference (15/12), VP Brand Communication Venteny Riko Simanjuntakexplained that this strategy to reach all employees as users is part of the company’s plan to work on the B2C segment to enjoy the solutions that have been developed.

“We plan to work on the B2C segment, so Venteny users can come from various circles, regardless of whether the company has worked with Venteny previously or not,” said Riko.

Offering Solutions for B2B and B2B2E Segments

Currently, Venteny is simultaneously working on two segments, namely B2B and B2B2E, offering various solutions to meet the personal needs of employees, ranging from finance, lifestyle, to skill development.

The company cooperates with trusted third parties in providing these solutions. For B2B, the company has a Business Acceleration Program product that allows business users from the SME scale to get access to financing in order to improve their business.

In this solution, Venteny becomes the link between the two. As for B2B2E, there are various solutions for employees, such as V-Merchant for lifestyle needs, V-Academy for skill development, V-Insurance for providing insurance, and V-Nancial for emergency fund solutions that are available exclusively for employees with monthly income.

According to him, the solutions offered by players like Venteny to answer the needs of employees will continue to grow. Employees will be more critical in choosing the best company for a career.

Industry players will be more aggressive in finding the best talent who can accelerate the company’s goals. Thus, companies need to anticipate this situation from now on by increasing competitiveness and suppressing a high turnover ratio.

Rico said that partners for the Business Acceleration Program and V-Nancial had obtained permission from the OJK. Therefore, this resulted in an increase in exclusive users which rose by 150%, and app downloads which grew significantly up to 15 times this year.

“This means that outside the company, individuals are more responsive and independent in meeting their professional and personal needs as workers.”

Another increase was also seen from the growth in the number of businesses joining as clients up to 115% and Venteny’s revenue increasing by 200%.

Venteny’s business users come from various industry verticals, such as trading, services, retail, to manufacturing. The company sets a certain amount of admin fee for each solution used by business users as its monetization strategy.

The Company’s Next Plan

On this occasion, the Founder & CEO of the Venteny Group, Junichiro Waide, was also present. Waide said that the next Venteny plan in Indonesia will be more massive in working on the B2B2E segment.

First, opening branch offices in an effort to distribute services evenly, such as East Java, Sumatra, Bali, Kalimantan, to Eastern Indonesia. So far, Venteny has been in Jabodetabek, Palembang, Lampung, Surabaya and Banjarmasin.

Second, prepare the My Benefits program, which is specially designed based on the orientation of the HR (Human Resources) division in the company.

So far, the HRD division has often faced a dilemma in finding a middle point between employee needs and company capabilities, usually due to limited budget and resources.

My Benefits carries a subscription scheme that the company pays for its employees. Employees can use Venteny’s exclusive features, which ordinary users cannot enjoy.

This can help HRD conduct internal and external budget efficiency, for example for training budgets, insurance, to the provision of perks or lifestyle supporting facilities.