Terence Toh, Co-Founder of Payboy

March 28, 2017 6:43 pm

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Terence Toh and Payboy are disrupting HR systems with intuitive, user friendly tech.

terence payboy

What’s your story?

Growing up, we were always asked what we wanted to be. When I was 7, I wanted to be a policeman. When I was 14, I wanted to be a basketballer. When I was 17, I wanted to be a veterinarian. I couldn’t figure out what I wanted to do with my life. Then, at 23, midway through my degree, I bumped into an old friend. That encounter changed everything.

We started a string of festive businesses; sold flowers during valentine’s day, dumplings during dragon boat festivals and much more. That’s when my love for entrepreneurship began.

As we discussed what our next big business idea could be, we found a gap in existing HR solutions for businesses. Many of the HR systems implemented in companies were insanely difficult to navigate and use without prior training. These HR management systems were not designed for employees. Ease of use was clearly not a key design feature they considered in their software.

That’s when we started Payboy, aimed at creating the most user-friendly HR solution for businesses.

What excites you most about your industry?

It’s exciting to see the exponential growth of technology and how it helps makes our lives easier. We see back-office solutions surfacing rapidly and I believe that automation of human resource management is the next big thing.

What’s your connection to Asia?

I was born and raised in sunny Singapore.


Favourite city in Asia for business and why?

Singapore remains one of the easiest countries (2nd) in the world to start a business due to high levels of efficiency. Also, there is an abundance of fully-funded government schemes, access to venture capitalists, investors, accelerator and incubator programs to aid new venture creations. This is the best place and time to be an entrepreneur, in my opinion.

What’s the best piece of advice you ever received?

“It does not matter how slow you go, so long as you don’t stop.” – Confucius.

Who inspires you?

Mark Cuban. I don’t think he needs any introduction.

What have you just learnt recently that blew you away?

Technology is advancing rapidly and if we are not quick enough to adapt and change, we will be made redundant.

If you had your time again, what would you do differently?

I would not be as naïve and procrastinate so much. Also, I would have made smarter decisions.

How do you unwind?

Usually when I have a lot on my mind, I go for a long run or swim laps. Exercising helps me to focus and think better. It also to helps me lose weight and stay fit!

Favourite Asian destination for relaxation? Why?

Taipei, Taiwan. I love that place. The people are nice, the scenery is incredibly beautiful, food is also cheap and delicious.

Everyone in business should read this book:

Rework is an amazing book I think all business owners should read. It’s straight to the point, edgy yet simple. Most importantly, it challenges you to rethink the strategies you thought you knew. It delivers philosophies like “Planning is guessing”, “Start a business, not a start-up”, “Who cares what they are doing” and “Meetings are toxic”. Also, I can relate to the authors, Jason Fried and Heinemeier Hansson because both our companies are in the technology industry.

Shameless plug for your business:

Payboy is a cloud-based human resource management system. Our objective is to be an eco-system for all HR-related matters from administrative duties all the way up to policy making. We aim to disrupt traditional HR processes by making it efficient, user-friendly and affordable for businesses. We are focused on designing the most simple payroll software out there. Using the same analogy that no one reads a user manual before using their newly procured iPhone or Samsung. We emphasize heavily on discoverable learning.

This article was originally published in Asian Entrepreneur.


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