inDinero is a cool idea. One thing I've wondered after seeing it - why the focus on projecting future cash flows?
To me the killer app is making financial statements for businesses easy. Simplify the complex process of getting a good income sheet and balance statement each month.
Does anyone else feel like the focus on projecting is a distraction from the real value of the product?
It could just be me as a programmer not trusting the projection, or finding little value in it, because I know it's based on limited information. For example, if I know I'm going to buy $5k worth of ads tomorrow, and I know inDinero has no way of knowing this yet (because it's just an idea in my head), then the projection is wrong. What do you think?
I'd agree with this. I was having problems with Quickbooks last week, so I tried some of the major online accounting services, including Xero, Outright, and Quickbooks Online. Of these, InDinero was my favorite. Though I still think they're going to have a hard time overcoming the chief advantage of Quickbooks - that my accountant knows it.
Usability will effect retention and adoption rates - but overall doing a critical business function better or easier than their competitor - Quickbooks - will be the winning factor here. This means financial statements, tax planning and integration, and proactive alerting and real-time status. Branching out to integration with Freshbooks for invoicing and billing (as I believe they have done) along with multi-user, tiered accounting and HR integration (they do most of the accounting for small businesses), and resource planning.
When I connected my freshbooks account I got this email. Pretty clever, they probably get good feedback from this by offering a seemingly direct connection to devs.
Hi there,
Hope the FreshBooks integration is working well for you! Wondering if you have any additional ideas or suggestions for us?
Thanks :)
- Chris Zhang
(the engineer who built the integration with FreshBooks)
I started a new LLC for some side projects and setup my Chase bank account with InDinero.
I'm trying not to spend much money (only $7 for our GitHub account so far) but it's looking like a very solid product. I've already recommended it to a couple other business owners.
I don't know if this is a crowded space, but I think this is one of the better recent YC companies in terms of potential (IMO).
To me the killer app is making financial statements for businesses easy. Simplify the complex process of getting a good income sheet and balance statement each month.
Does anyone else feel like the focus on projecting is a distraction from the real value of the product?
It could just be me as a programmer not trusting the projection, or finding little value in it, because I know it's based on limited information. For example, if I know I'm going to buy $5k worth of ads tomorrow, and I know inDinero has no way of knowing this yet (because it's just an idea in my head), then the projection is wrong. What do you think?