Friday, October 22, 2010, AM | 4 Comments
inDinero.com can help your small business track your finances. It’s a cloud-based software that helps small-business owners track their finances without any data entry. Instead, it pulls the information from your business’s financial accounts. inDinero.com is a small company with five employees as of September. It debuted in July and has secured $1.2 million in investment backing from several high-profile investors. That shows their business plan must be on the right track.
inDinero.com is not an accounting solution
inDinero.com is a simple, real-time dashboard based financial solution for businesses. It uses data from banks and credit card companies to show business owners how they are doing. It helps small businesses track and manage their expenses in real-time.
Jessica Mah, the 20-year old CEO says “Entrepreneurs don’t want to spend hours reconciling transactions and learning about double-entry bookkeeping. We got rid of the complexity, so business owners can quickly see how they’re doing.”
Research shows that 80 percent of small-business owners are sole proprietors. They don’t do a very good job of tracking their finances. So instead of doing nothing or a bad job yourself, you can use inDinero.com to do the job for you.
What can inDinero.com do for your small business?
Among so many other things, it can do breakdown of expenses including payroll and food. If you own a gas station that make tens of thousands of transactions, it can help you quickly spot irregularities that might show employees are stealing.
If you run a business and you start tallying up all the different problems you have to solve, it can just become an infinite series of mishaps that can potentially haunt you for a long time to come. Taxes, payroll, sending money (Accounts payable), receiving money (Accounts receivable), dealing with predators can all bog you down.
The finance problems you might face in your business can be tiring. Sooner or later you give up. What do you do? You turn to inDinero.com for help.
The following functions are taken directly from the website. The only way you can know if each function is true and does the job like the website claims is to try it out yourself, at least for the 50 free transactions a month.
Real-time Financial Dashboard for Businesses
inDinero monitors the financial health of your business so that you can focus on what matters the most to you. That is, your business.
inDinero employs bank-level data security through 256-bit SSL encryption, frequent security audits by third party firms, and daily data backups.
See your business anywhere, anytime
inDinero automatically downloads your business’ financial data, which means nobody has to do manual data entry anymore. Supports over 10,000 financial institutions.
Monitoring financial health 24×7
inDinero’s proprietary algorithms are always monitoring your accounts for cashflow shortages, and predicts the future of your finances. inDinero is intelligent and effortless.
When you think about it, you do these functions yourself anyway but you do them manually. inDinero automates it and it does it in the background so you can focus on running your business more efficiently.
How does inDinero.com make money?
Right now, the company has more than one plan to offer small businesses.
- 50 transactions a month – free
- 500 transactions a month – $29.95
- Unlimited transactions a month – $99.95
The above charges are, obviously, per month. Because the company is new and most customers just want to try it out, so they go for the free plan.
Will inDinero.com last for many years to come?
It depends how small businesses look at it. Of course, any company’s survival is based on the number of customers and the customers’ satisfaction with the product.
Whether someone else besides inDinero.com can easily solve all these problems in one package and in an easy way, the company must keep trying harder to win as many customers as it can in the next so many years.
Jessica Mah must look at the company to be around in 20 or 30 years and for that she and others in the company must work harder and smarter. With $1.2 million in financing under her belt – so to speak, she has taken a good and respectful first step.
In a Nutshell
Like mentioned above, 50 transactions a month are free. Why don’t you give it a try and see for yourself if Jessica says what inDinero.com does is true. Try its different functions and see if it really is simple like the website claims.