PETALING JAYA: Web and mobile applications developer Beyonary Sdn Bhd, established in 2021, aims to triple its revenue this year, driven by existing recurring projects and clients as well as the consistent business intelligence (BI) trend in Malaysia.
According to managing director Darren Chong, the Selangor-based company aims to triple its growth from last year and 2023 is its “growth period”.
The company has completed more than 50 projects and has in hand another eight.
Beyonary’s marketing and branding vice-president Chloe Moin added on by saying, “Its based on recurring clients that we have. We predict this year, the projects that we will have can contribute to that amount. Secondly, the trend of power BI. After the pandemic, everyone wanted to learn more about their clients and (companies) wanted to be intelligent,”
Moin said that in terms of products, it will focus on customer relationship management (CRM) tools, BI tools and “things that will help clients understand more of their own customer”.
Chong added by saying that next year (2024) will be their transition period, where they want to switch slowly from project-based to product-based.
“So, 2025 will be our takeover period, so we want to do more products and improve customisation upon product rather than project. We have three products – CRM marketing, BI software and cryptocurrency payment solution. We have just invested into Kin app. We have set up a separate new private company where we hold majority stake, to explore into the blockchain space to do a product called the cryptocurrency payment solutions store,” shared Chong.
On client demographics, he said currently it has Malaysian and Singaporean clients but is eyeing to include Australia in future. Its clients consist of legacy or traditional companies as well as small and medium enterprises (SME) established for five years and above.
“We aim for all (industries) but exclude the entertainment industry. We have clients from property, accounting, e-commerce, health and beauty, as well as manufacturing industries,” said Chong.
He added that about 70% and 30% of its clients are from the SME and legacy business segments respectively, however most of its revenue (70%) was generated from legacy companies while the rest was from the former.
In terms of revenue, he disclosed that 60% and 40% were contributed by its tech and marketing services respectively.
He also said that while tech services is important in a business, another aspect to consider is the business value it brings. Through marketing, the company is able to analyse from data and advise its clients on how to increase sales.
“Business owners would only want our services, when we are able to provide business value, it can only be created when technology combines with marketing. Together they give results and numbers,” he added.