Bengaluru-based startup NetAcct Solutions has launched Entries.ai - a self-service, cloud accounting and connected business application for fast-growing startups and SMBs in India. It brings the next-gen, enterprise software experience to SMBs to digitise their entire operations in one place without the need for having many point tools.
SMBs use multiple end-point tools for managing spending, staff claims, procure-to-pay, subscription, invoicing, payroll and HR. They are forced to deploy middleware to create APIs that collate data from each tool for bookkeeping. If such tools aren't available, Finance manually consolidates data from spreadsheets. This causes accounting errors, financial data inaccuracies, delayed book closing and statutory non-compliance.
Elaborating on the challenges faced by the SMB industry, Mr. Raju Nagendra, co-founder of Entries.ai says, "SMBs lack a simple Software-as-a-Service, unified accounting system. One that unifies staff, expenses, payroll, suppliers, customers, banks and accountants giving real-time visibility and control for the organisation and its stakeholders. Furthermore, existing point tools that solve only one specific business problem follow user-based pricing which is unviable for SMBs."
"Our vision is to make the unified business application available, accessible, affordable, easy to use and everything OOTB for all SMBs. Our goal is to bring an enterprise-grade system that is fully customised for SMB needs and serves as one place of business truth, visibility and control. True to the vision, Entries.ai is a simple, low-cost application that needs no customisation, training or IT support. We are already seeing mass adoption among startups and SMBs."
"As per a Times Group survey, SMBs have contributed to 1/3rd of India's output. This sector is expected to contribute over 2 trillion dollars to the economy and will create 50 million additional jobs by 2024. We aim to support this rapid growth and increase the adoption of technology amongst SMBs across all industry verticals namely manufacturing, trading, healthcare, e-commerce, professional services, IT to name a few."
Highlighting the popularity of the application he says, "Within a span of a few weeks of our soft launch, 30+ companies/brands have already deployed our solution. It takes a huge effort to build and hold a company's financial data on any new application."
"We have also helped our clients migrate their accounting data from QuickBooks successfully. Our clients are witnessing a huge jump in their productivity and business efficiency levels. We're happy to slowly emerge as the SMB and startup industry's preferred cloud accounting business solution in such a short time. SMBs can now focus on running their core operations and leave accounting and financial management to Entries.ai."
Entries.ai is a cloud accounting and connected business application for small and mid-sized businesses. The all-in-one application helps companies to manage their entire operations, finance and accounting functions to accelerate growth. The secure application is built on the same, high-tech, scalable technology architecture that powers a few of the leading Indian and global companies.