Versapay: Digital Payments Mobile Strategy

Foxbox Digital Quarterly Update Q1 — 2022

Today is a good day. It’s our first official update for 2022, and we have a lot of great news to share. But, in many respects, not much has changed, and everything has changed simultaneously. Never a dull moment around here.

Today is a good day. It’s our first official update for 2022, and we have a lot of great news to share.

In many respects, not much has changed, and everything has changed all at the same time. Never a dull moment around here.

So let’s start with the quick highlights from the first few months of 2022!

→ Our senior management is here, and they’re on fire.

Our goal for 2022 has always been about maturing the organization. And so we did exactly that. We made many strategic senior hires last year and earlier this year:

 as our CFO, Doug Lampe as our VP of Engineering, and last but definitely not least, 

We’ve seen great improvements in every aspect of our business—especially when it comes to standardizing our delivery processes and how we communicate internally.

The team is energized to make meaningful contributions and changes to how we help our clients.

Our clients are renewing (85% to be exact), and we’re attracting new clients that wouldn’t have even considered us a year ago.

This is a sign that our delivery processes are working.

We have 101 team members now, and I couldn’t be more proud. This is the highest headcount we’ve had since the company was founded. 

We’re actively hiring with over 8 job openings

 for the first time and ranked #7! What a great way for us to celebrate the 4th anniversary of the company. 

In 2022, we’re launching two services that are highly requested by our clients:

 – We recently formed a partnership with Stripe, and as part of that partnership, we are helping our clients with payment integration within their mobile and web applications. We handle all of the complex integrations, including collecting and distributing payments using the Stripe platform.

, a vacation rental management company. Our team implemented Stripe to distribute payouts to hundreds of rental property owners.

 – As the talent war continues to grow, we’re launching a service that gives our clients the peace of mind of having us manage, maintain, and evolve their products.

Both of these services allow us to support our clients and also help position us as a strong, mature digital partner.

 Happy clients refer us to the people they know. And by the looks of it, it’s working. We’re definitely strengthening our magnetic pull.

Further into 2022, there are two things we’re focused on:

1) Redefine our methodology and create a premium client experience.

We started to put together an internal book called CREATE. It’s a cumulative effort from our team that forms our methodology across product, delivery, engineering, & design. This is how we help our clients deliver amazing digital products.

Maybe we’ll share it one of these days.

2) Create a reliable, efficient operations machine.

Doubling down in Staffing, HR, talent and acquisition, and finance

Our focus for the next three months is twofold:

→ Revising and templatizing our product and delivery processes from how we run discovery to how we run projects.

Our goal is to create a clear, repeatable process that’s fully documented and maintained. We want to achieve a consistent project experience with less churn and change. So far, we’ve defined new processes for staffing, project estimation, and discovery.

→ Filling in hiring gaps and formalizing our hiring and onboarding process.

Our goal here is to get the right people into the right seats. We want to train our teams to manage projects and client engagements confidently and independently. We’re looking to achieve more delivery, excellent support, and more consistent project experience. On this front, we’ve defined career paths, levels, and titles, so far.

We’ve had an exciting first quarter. We’ve kicked off some new projects of which I’m particularly excited about. I’ll share as soon as I’m able to. I expect to grow our team by another 50% this year and nearly double revenue. I’m so proud of our teams and what we’ve been able to achieve!

Foxbox Digital Quarterly Update Q1 — 2022

By Rob Volk

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