Apply HN: Automate the $450B bookkeeping and accounting industry
2 comments
The "watching" app sounds very cool. You should add a link to a demo or some other way to learn more about how it works.
I have to say, though, that you lost me with your last paragraph. First, it has many grammatical issues, including a run-on second sentence and an impressive butchering of the spelling of "businesses" as "buiessnesses." Second, it's ridiculous to claim that you could "very soon" be automating hundreds of billions of dollars in transactions. It's good to be ambitious, but you do have to be at least somewhat realistic. Third, you don't need to tout the merits of automation (especially in the overly casual way that you do). Instead, you could conclude with something that makes us believe that your company is the one to do it.
I have to say, though, that you lost me with your last paragraph. First, it has many grammatical issues, including a run-on second sentence and an impressive butchering of the spelling of "businesses" as "buiessnesses." Second, it's ridiculous to claim that you could "very soon" be automating hundreds of billions of dollars in transactions. It's good to be ambitious, but you do have to be at least somewhat realistic. Third, you don't need to tout the merits of automation (especially in the overly casual way that you do). Instead, you could conclude with something that makes us believe that your company is the one to do it.
How do you see yourself compared to someone like bench.io?
The problem is that, we can hardly remember what we ate for dinner yesterday, let alone what we spent money on from a month ago...
It's annoying and it's a gigantic waste of time; and by gigantic I'm talking $450 Billion dollars spent each year employeeing bookkeepers in just the US.
Fortunately 80% of all bookkeeping work for basically every business imaginable is repeat, month after month. So guess what, that means it can be automated and systematized using business rules.
We've developed a app called AutoKept as our 'level 1' product where business owners can 'Talk' transaction descriptions right into their accounting software. This has generated us over $10,000 MRR since November of 2015.
Now we're releasing 'level 2' which will bring a whole new realm of workflow management around documentation and transactional data / tasks to the business client and accounting firm. All we have to do now is 'watch' how the work is being done by the accounts for their clients and step-by-step automate their repeat entries for them.
We could be on track to automating 50%+ of this industry, very soon. This is fantastic news for all buiessnesses that are involved since it will save them a ton of money by just letting the machines do the work, and for the bookkeepers, well like all other automation technology - let's get on with it and have the humans doing more productive things with their lives.