Apply HN: Automate the $450B bookkeeping and accounting industry
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.