2 Oct 2018
InQBay is in the business of helping other entrepreneurs through technology. Hence, the first technology developed was a bot builder that enables businesses to build their own bot which automatically handles the sales and marketing process. Such automation enables businesses to generate higher quality leads and handle sales transactions seamlessly.
As technologists, they are observing that bots will be replacing mobile apps. In 2015 when Facebook opened their API for the Messenger platform, they saw huge potential.
A Start-Up Helping Other Start-Ups
Dr Issac and Victor named their company InQBay Berhad, a pun on the word “incubator,” because their technology helps start-ups in their early stages. Based on their own experience, successful entrepreneurs begin with proper business and financial planning but they often need help with developing a key differentiator - technology.
They recognize that businesses should look for experts and not handle every matter themselves. For example in the early days of InQBay, they found that engaging a lawyer to handle their legal matters was taking too much time. In the tech industry where turnaround time is paramount, they needed a solution for speedy legal documentation at a reasonable price. They knew the importance of legal documentation in the business world so he signed up with ShakeUp!, an online legal document service provider.
"Our shareholders expect us to adopt best practices…"
-Dr Issac Lim, founder of InQBay
Always seeking reliability, they were pleased that Shakeup! had solid credibility as an affiliate of ZICO Group in Malaysia, a network of professional firms with the highest reputation in the ASEAN region. By using a legal document service like ShakeUp! to handle his business documentation, InQBay could execute quality legal documents without spending time and money on high-priced lawyers. Problem solved.
In the same way that Shakeup! solved a problem for him, they knew that InQBay could provide time-saving solutions for other entrepreneurs.
"We believe that our team members should be given the opportunity to be either an intrapreneur or an entrepreneur"
-Dr Issac & Victor, founders of InQBay
A Customer Acquisition Bot
InQBay's bot builder works by enabling businesses to customize their own bot that will automate their online sales and marketing activity. Customer acquisition management is the term for processes and tools that handle customer prospects. Since it is 7 times more expensive to get a new customer than keep an existing one, it is a massive time and marketing expenditure for e-commerce businesses or businesses just starting to sell online. The InQBay bot makes it easy to reach potential customers.
Once the bot is deployed, it extracts and stores data to simplify the sales and marketing process. It gets more “eyeballs” on what the business is selling, increases click-through-rates (CTR), and funnels interactions to the company’s calls-to-action (CTA). In effect, it greatly reduces time and cost for the online business at a crucial time when they are building interest.
The bot goes one step further in managing key measurements to maximize the return of marketing investment. It displays bot analytics for strategy adjustment and even enables comparison testing. With the two-way communication on the Facebook Messenger platform, this bot packs a powerful marketing strategy tool into a small package.
Currently, InQBay’s bot builder is meant for use by businesses. Applications of new bots for consumer needs such as lifestyle, health, and news are in the pipeline. The bot is available as a software-as-a-service (SaaS) meaning that users would have easy access to the most updated bot builder wherever they are. They need not pay for development fee and could immediately start deploying their own bots after subscribing. The bot builder is designed to be intuitive for the users to customize their own bots according to their specific needs. For more complex customization, additional service is also offered.
At this point, InQBay’s challenge is talent. The company is always on the lookout for people who have the right skill set and most importantly a passion for what they do. This is InQBay’s philosophy in regards to talent. “We seek to build a team that consists of future leaders of their own ventures. These ventures could be spin-offs from within the company or independent startups. We believe that our team members should be given the opportunity to be either an intrapreneur or an entrepreneur.”
Be like InQBay and use ShakeUp! to help solve your business legal document needs. Try it now!