An interview with Nasser Chanda, CEO at Paymerang
We sit down with Nasser Chanda, CEO at Paymerang. Paymerang provides a streamlined invoice and payment automation platform that brings Accounts Payable (AP) departments into the modern age.
How did you end up at Paymerang and what problem does Paymerang solve for its clients?
I was looking to join a high-growth technology company that I could help scale in all areas, from product to sales to operations. Paymerang provides finance automation for enterprises across America, including top hospital systems, educational institutions, manufacturers, and local governments. Finance teams across America are being tasked to do more with less, from controllership to FP&A to cost management. Our software automates manual processes like invoice approval and supplier payments, allowing finance teams to create more strategic value to their organizations.
As the CEO, what are your main responsibilities at Paymerang?
First, I'm responsible for fostering a world-class culture where our people can succeed, and feel connected to our mission and to each other. From there, I'm tasked with ensuring we make the best strategic choices in regards to the products we deliver and the markets we pursue. Of course, this can only happen with the right people, so we focus on getting the right people on the bus and developing them. With the right strategy and a culture to support it, there's nothing we can't accomplish!
How do you lead your team to organize and improve the marketing-sales process to increase sales and enhance the customer experience?
We try to make the right marketing choices within the right channels. Whether it's through trade shows, digital, social, or PPC, we try to align our activities to delivering impactful messaging to customers, within the channels they consume. Our focus is on listening to clients and showing them how we can solve their pain points. We leverage partnerships and influencers. It's about the right message to the right audiences at the right place at the right time.
At ColdFire, when we look at our clients' Marketing and Advertising strategies, they vary greatly. Some have found a single, scalable client acquisition process while others thrive on a mix of top-of-funnel strategies. How would you summarize the overarching revenue-focused strategy of Paymerang, and what key elements does it encompass?
We use a mix of top-of-funnel activities and triangulate to achieve success. Our CFO and Controller audiences require multiple proof points when making decisions. Consistency in addressing pain points is key.
What is an efficient marketing technique that you've implemented at Paymerang or previous companies, which you believe is underutilized by most management teams - and why do you think that is?
In my previous role as head of the Brink's Global Payments business, we employed direct-to-consumer strategies--PPC, affiliate, and social media--to market our prepaid card. These channels were precise and scalable. I have yet to see the level of precision and scalability that we saw in that space (because it was a direct-to-consumer play targeted at a large, underserved population). The volume of leads was phenomenal and profitable, but somewhat expensive too.
Has your C-level team experimented with some kind of cold outbound strategy (like cold email)? If yes what was the general outcome and if no, why not?
We've used email campaigns and they work when the content is very targeted and precise. We've also used a lead-gen firm.