Billfaster presentation to Small Business Association. Developing the Ipod of accounting applications. How to start a software as a service company, win market share with a compelling user offer

1. billfaster.com The iPod of Accounting Presentation to Small Business Association Liam Birkett CEO

2. billfaster.com…the ipod of accounting Design and ease of use as competitive advantages…

4. Market Need: A system to replace Excel or Pen and Paper… “ I use Excel, there is no system for a small business like mine. I rely on the Accountant to do my paperwork…its €1000 a month down the drain” Niamh Barraton – Designer “ Admin is a waste of time, but you have to do it to pay your taxes. I care about cash in and cash out….the rest takes care of itself” Killian McNurley – The Furniture Store “ I tried a PC-based system but it took too long. I want something that does the bare minimum…no bells or whistles. It just does what my Accountant tells me” Robert Brown - Photographer “ I use a pen and paper, then transfer to Excel. I just want a simple system that’s easy to use and gives me the basics…Cash management, Suppliers and Bank. I waste my Sundays doing paperwork. Anything that reduces wasted time would be great” Martin Ansboro – Honest to Goodness Foods

5. Food Outlets Owner Operators Sole Traders Start-Ups Targeting 80% of businesses..defined as “small”…

6. Use Word to create invoices… ..Excel to manage accounts … the post office to send them… … Order book for customers… … and files of paper to manage suppliers. … they are not well-served by technology…. Accountant to make sense of it…

7. Until recently, the market was dominated by traditional solutions… Price Functionality € 300 pa € 600 pa Advanced (multi business) Mid (stock) 26,000 8,000 20,000,000+ 5,700,000 14,000 400,000 6,000,000 400,000 20,000* * MYOB Business acquired by Mamut Summary: Accounts Packages do too much…Excel doesn’t do enough 400,000 50,000

8. … Lets create an invoice using the market leader: Quickbooks….

9. … the second click takes the user to….the Setup checklist … with over 60 links to other parts of the system…

10. Click on “Guests”…then on the Invoice icon…. … ignore the 30 related links on the page….

11. … nearly there...just 5 more Setup steps….

12. … then a further 3 steps to describe the transaction….

13. … to get a professional looking invoice to print or email…. … This process is too complicated for many non-accountants

15. From the homescreen, users access any area of the system within 3 clicks… An intuitive home screen launches the application

16. Each screen is intuitive and self-explanatory…

17. With step-by-step instructions… ..the user simply follows the on-screen steps…

18. ..filling in the highlighted boxes… ..so its difficult to make a mistake…

19. ..the user has created and sent an invoice ..in just 3 clicks…

22. billfaster.com…the ipod of accounting Sign up today at www.billfaster.com