Before holidays, I had a conversation with a new prospect about the way they do bookkeeping.
20 years of the same frustration
We went through their processes and he complained to me that the entire accounts payable process was costly and largely manual. That the approval of invoices by the various signatories was time-consuming and toilsome and that all employees found the work to be extremely tedious and depressing. His hopes of taking a huge step forward with the Parashift platform are correspondingly high.
That’s how it sounded over the last few weeks and I’ve known it for a long time. I have been working as an entrepreneur for about 20 years now. For 20 years, these tedious and annoying tasks have scourged employees in accounting teams and managers alike. Incoming invoice processing is a constant, reliable source of endless frustration. Surprisingly little has happened over the years.
When I ran my first company, a computer trading company, 20 years ago, we had to manually enter all accounts payable invoices (15-40 a day) into our ERP. When I look into medium-sized companies today, I usually encounter a practically unchanged set-up. Paper is sorted, signed off, typed manually. And the frustration is omnipresent.
A solution for today’s companies
It’s not that there were no solutions to this dilemma. But these solutions have in common, that they come with high acquisition and maintenance cost, long project times, complicated set-ups, training and the infamous 18% maintenance contracts for medium-sized companies. And frankly, the vast majority of them look like they are coming straight out of the nineties.
We believe that this must stop. Processing accounting documents digitally and automatically must become the new standard. A solution that allows this, must be as easy to book as a plane ticket.
And the costs must be so low that every medium-sized company can afford it without hesitation.
In order to do justice to this idea, we have built Parashift Platform, which we will launch publicly in the coming weeks. A product that provides companies with a turnkey digital solution for the entire process.
For you and your team!
Why this is important to us is quickly explained: The people out there in the accounting departments are important to us. We think that lifetime should be spent as well and sensibly as possible. Typing up receipts is definitely not one of them.
At the moment, manual bookkeeping is very useful, simply because there is no way around it. But as soon as there are simple, real alternatives, manual work becomes meaningless. And that’s exactly what we’re working on.