I have no clue what this service does. None!
Are these invoices that the user's business _sends_ ? ( hence this is some form of AR management application)
or are these invoices received by the user's business ? (hence an AP management application)
In either case, surely the business is already using some sort of accounting software and therefore what does this service do that regular Quickbooks doesn't do?
And finally: who sends or receives thousands of invoices per month and doesn't already have some decent management and reporting systems in place?
fwiw I worked on a startup that (I think, because we were solving the problem alluded to on the site of making sense of arbitrarily formatted business transaction documents) was trying to do the same thing about 15 years ago. We were targeting big corporations dealing with high-value invoices with a broken AR/AP process. It didn't end well, I think in part because there isn't a good value proposition here. It has to be "you'll get paid much sooner" or "fewer invoices will end up unpaid". Just being "nicer" or "easier" doesn't cut it.
BillBuddy started as a project for myself, where I found that it was a big hassle to keep track of all invoices I received without manually processing them and filling in the amounts in my own bookkeeping software.
Instead of now having to open every invoice, I simply forward the invoices an let BillBuddy do the reading. Once per month when I do my taxes, I log in, run an export of the parsed data and see all the data I need at a glance.
This way I know what I spent and my quarterly tax-forms are filled in much more easily.
That's the backstory and how BillBuddy turned out to what it is today, where I feel it mostly supports small companies of which the bookkeeping is not too complex but a small hand comes in useful.
For a while I thought you might mean "receipts" rather than "invoices", as in retail transaction paper receipts. But then I remembered you deal with submission by email which seems inconsistent with a paper receipt flow.
I'm very interested in learning more about this project! Would I be able to email you at email@example.com (from the website), or is there a different way you'd prefer to take questions? This is super impressive, well done!
Obviously early stage (guess there are things to be polished) but I think it would be useful. I've looked for a simple SaaS AP solution without all the complexity of some of the advanced solutions.
(semi-related; anyone has tips on other good SaaS AP services?)
- Make it clear on the website that this is AP, not AR (if that's the case).
- Offer the first ~100 invoices for free (regardless of the plan)
- I'd look at a stripe integration for automatic payment (if possible, not sure that it is). Otherwise look at exporting 'bank files' that banks in most countries can import (basically a pre-generated of transactions, uploaded then verified and signed on the bank website).
- Most companies will probably want an approval chain for invoices based on the company hierarchy, invoice amount, etc.