Fullfill co-founder & CEO Jacqueline Chua | The Source - video Dailymotion

CNN Philippines

A Filipino-owned startup helps businesses meet the growing demands of consumers this holiday season.  Fullfill co-founder and CEO Jacqueline Chua tells us more in the show.  Visit our website for more #NewsYouCanTrust: https://www.cnnphilippines.com/  Follow our social media pages:  • Facebook: https://www.facebook.com/CNNPhilippines • Instagram: https://www.instagram.com/cnnphilippines/ • Twitter: https://twitter.com/cnnphilippines

Transcript

00:00 You're watching The Source on CNN Philippines.

00:05 I'm Pinky Webb.

00:06 This holiday season when shoppers rush to buy Christmas gifts, a Filipino startup company

00:09 helps businesses meet the needs of consumers.

00:12 Our source today, Fulfill co-founder and CEO Joy Chua.

00:16 Joy, thank you so much for coming to the studio.

00:18 Thank you for having us.

00:20 Let's talk about this.

00:22 Very important.

00:23 It's been said over and over again, MSMEs comprise about 95%.

00:28 Actually, it's 95 point something percent of the country's enterprises.

00:33 They are the economic drivers.

00:36 And this is where actually Fulfill comes in.

00:39 What did you see as concerns and how did you plan to bridge the concerns and problems of

00:46 MSMEs?

00:47 Actually, just to correct you quite a bit, it's 99% of enterprises are actually MSMEs.

00:55 99.5% I think.

00:57 But still, at the end of the day, it's really a huge number.

01:02 And during the pandemic, it has risen really because a lot of our friends or family probably

01:07 who were not business people then were suddenly business people during the pandemic.

01:14 And a lot of them actually dropped out when the economies opened up again, but a lot of

01:20 them continued.

01:22 But the problem then was how do I continue with it?

01:26 So if I'm the startup entrepreneur during the pandemic, I was doing probably 20, 30

01:31 orders a day.

01:32 I'm happy with it because I'm sustained on a day-to-day basis, but now it's reaching

01:37 50, 100, 150 orders a day.

01:40 I can't even sleep.

01:42 And I don't know how to hire people or to manage people.

01:47 Where do I put them?

01:48 I mean, I don't have a warehouse.

01:50 I usually just do it at home, in my sala, in my garage.

01:54 So how do I really scale?

01:55 So those were the normal questions that we were getting during the pandemic because,

02:00 of course, of my experience also with my past job.

02:04 So from there, we saw the opportunity and the statistics, and we wanted to help boost

02:10 the economy further because at 99.5% contribution, it's really the way to boost and grow the

02:20 economy.

02:21 And what were the challenges you faced for Fulfill?

02:24 Challenges, okay, for MSMEs, of course, these aren't your large companies who really have

02:30 the huge budgets, right?

02:31 So we really had to educate them why you need to or why you can outsource.

02:39 What's the value of outsourcing?

02:41 Because a lot of them would just say, "I'll do it at home.

02:44 I'll do it myself."

02:45 What's the added expense for them?

02:48 Exactly.

02:49 But, so we tell them, don't look at it from the expense standpoint.

02:53 Look at it from the investment standpoint.

02:55 What do you stand to gain if you outsource?

02:57 Number one, you can actually start scaling your business because now if you're doing

03:02 it yourself, then the business development part, you cannot do anymore because you're

03:07 so busy doing accepting orders, right?

03:10 Number two, you gain back your personal time.

03:13 And a lot of these MSMEs are family.

03:18 Personal and family time.

03:19 Yes, that's very important.

03:21 And it's usually, we forget that, it's put at the back burner always.

03:27 But it's very important.

03:29 And now we should be more conscious really about that.

03:31 So in essence, so give us an example how Fulfill assists them.

03:37 So essentially, Fulfill starts with, it's essentially a fulfillment service company.

03:42 So by saying fulfillment, it's essentially, it starts from receiving your stocks, storing

03:48 it, picking and packing orders as it comes, dispatching it, and coordinating with the

03:53 third party logistics partners.

03:55 So essentially, we have clients like the likes of businesses outside of Manila that they

04:02 want to expand in Manila, or actually even if you're outside of the Philippines, you

04:06 want to have a business in the Philippines, then you just leave your stocks with us, then

04:11 you do all of the online stuff, right?

04:13 You can do, accept online orders and everything.

04:16 But the physical stuff, that's something that you can't easily just move around without

04:21 investing in manpower, in warehouses, so on and so forth, right?

04:26 So that's where they leave the day-to-day operations.

04:29 So it actually helps even those who want to improve and expand with you guys coming in.

04:34 Correct.

04:35 Because, maybe in the beginning, I'll have my helper, right?

04:39 Yes, yes, very common.

04:41 But at some point, maybe you can't do it anymore, and this is an opportunity for them to grow.

04:47 Yes, it's scaling.

04:49 It's really scaling than growing.

04:51 Okay, and how long have you...

04:53 Actually, in operations, we just had our one-year anniversary.

04:58 Congratulations!

04:59 Thank you.

05:00 So it's basically what is called business that's fulfilled.

05:06 Fulfilled and very fulfilling for us and even our partner tenants.

05:09 And especially now, the holiday season.

05:12 Just very quickly, I'm interested to find out, do you have a lot of actually clients

05:16 from far, far-flung areas that need your help?

05:21 In the provinces, yes.

05:23 Probably around maybe 40%.

05:25 The clients are like that.

05:27 We even have a client from Basin Canada.

05:30 He's a seaman.

05:31 We never saw him.

05:32 He just sent the products to us, and then we do the fulfillment already for them.

05:36 Joy, congratulations on that.

05:38 And thank you for coming over to the studio.

05:41 Thank you so much.

05:42 That's fulfilled.

05:43 Co-founder and CEO, Joy Chua.

05:45 Thank you for joining us here on The Source.

05:47 I'm Pinky Webb.

05:48 You're watching CNN Philippines.

05:49 [MUSIC PLAYING]

05:57 (explosion)

Fullfill co-founder & CEO Jacqueline Chua | The Source

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