Hyper Report app attracts SMEs with daily performance reports

Kim Jungin, founder and chief executive officer of Hyperlounge Co., the developer of Hyper Report app [Source : Hyperlounge]

Hyper Report mobile application that provides complex and difficult corporate management information for top corporate executives are fast gaining ground from small- and mid-sized companies in Korea.

Most SMEs have no system to diagnose and forecast the business performance due to high initial development and introduction costs and lack of personnel, unlike big business groups, said Kim Jungin, founder and chief executive officer of Hyperlounge Co., the developer of Hyper Report app.

“This is why we’ve created data analysis app Hyper Report to help decision making of top management of SMEs under fast changing business conditions,” Kim emphasized during the interview with Maeil Business Newspaper on Thursday.

Hyperlounge is a startup founded in 2020 with top management in their 40s and 50s, mostly experts with career in various other big companies. Kim, for example, is an expert in corporate investment and management improvement who built his career at Hyundai Card Co., McKinsey & Company Inc. and Affinity Equity Partners.

Its Hyper Report provides daily performance indicators for top management of SMEs with 20 billion won to 200 billion won ($153 million) in revenue.

“Key performance indicators are compiled and reported monthly or quarterly to SMEs that don’t have enterprise resource planning (ERP) system,” said Kim. “Hyper Report was developed to make it easier for them with daily updates to analysis and reports.”

Various data are available on the app such as business results like sales and profit, inventories, available funds, and unpaid amount. Companies do not have to process data for collection and analyze if they share the raw data in Excel format.

Direct communication between users in the app is also available, allowing them to direct inventory control by making an in-app call or sending an in-app message.

Hyper Report is a subscription-based service with a monthly fee of 5 million won. Annual subscription is available at a discounted price of 48 million won.

In just 10 months of release, the app has secured 23 membership companies including LocknLock Co., Mom’s Touch & Co., Kyowon Tour and Green Pharmaceutical Co. It raised a total of 10.6 billion won in Series A funding in November this year from investors including Singapore-based Altara Ventures.