Financial Insight creates Success for Small Businesses

Financial Insight creates Success for Small BusinessesFreelancers and small businesses need insight into their business in order to succeed.
The change of their success is raised when they start using powerful business software.

The Old Way

Most freelancers and small businesses depend on an accountant or bookkeeper to do their numbers. You send your invoices and expenses to your bookkeeper at the end of each month and he simply enters your numbers into an accounting package.
So you basically pay a bucket load of money to your bookkeeper for simple data entry work.You could have easily done this work yourself and saved yourself a huge amount of time and money in the process.

It’s time for a change, it’s time for BizFusion.

BizFusion

BizFusion is an online accounting system that’s aimed at startups, freelancers and small businesses. You can find us at: https://www.bizfusion.nl.
We’ve created an online accounting solution that enables small businesses to do their own accounting.

BizFusion Dashboard

Financial Insight creates Success for Small Businesses

We have always hated the fact that most bookkeepers don’t provide any real value to their clients. Most bookkeepers are simply data entry monkeys. There’s no need to pay someone else for simple data entry work that you can do yourself.

Most bookkeepers are also very slow when it comes to crunching your numbers. You often wait for an entire week before you get an Excel sheet back with some basic accounting information. This is not the situation you want to be in.
You need real time insight into your business in order to succeed.

That’s why we set out to create a software application that would allow anyone with basic computer skills to do their own numbers.

Data Entry Magic

Accounting rules are easily translated into software rules. Bookkeeping is based on a very strict set of rules that can be easily coded into software. That’s why powerful business software like BizFusion has transformed accounting into simple data entry.

Example Invoice

Financial Insight creates Success for Small Businesses

Create an invoice in BizFusion and click on the ‘post’ button. Your new invoice is automatically entered into the accounting system once you click post. The system automatically creates the proper journal entries and updates your ledger. You don’t see any of this, because the entire accounting process is invisible to the user. The same goes for your inventory management. Your inventory is automatically adjusted with each sale, purchase or return. This makes inventory management a complete no brainer. And that’s how software should always be.

Dutch Guys

BizFusion was developer by a group of Dutch programmers. We have a passion for the internet and a heavy background in Business Informatics and Information Technology. We have two full time employees and we use the Jedi coding skills of three freelance programmers.

It’s awesome to see how a tiny group of people with just a passion to do things differently have created an awesome application that really raises the change of success for small businesses. Our freelancers also use our application and they spread the word about BizFusion to everyone they meet on new projects. This has created a dedicated group of followers for our BizFusion ‘cult’.

Users

Most of our users are freelancers and single person shops. Most of our users are also based in Holland, but that’s no real surprise since that’s our home base. We were surprised to see that we got visitors coming from the US at some point.
That’s why we stepped up our support for the US market and added support for US Sales Taxes in BizFusion.

It’s always funny to see how most users test BizFusion. They start with what we call a ‘sniff’ session. They might not immediately use BizFusion after this initial sniff, but we do see them coming back after a while. They then try entering some invoices and send some invoices through our email feature. It gets interesting after that point, because that’s when we are barraged with questions. We know that we’ve hooked another user at this point.

The Price

We were so convinced of our product that we simply gave it away for free in the beginning. But you can’t live on free forever. That’s why we introduced a monthly subscription model.

We absolutely hated the modular price model that our competitors use. Most of our competitors split their product into different modules. You then have to pay for each individual module. A lot of our competitors don’t provide Inventory Management and Asset Management in their basic offerings. You have to pay extra for those modules. It gets even worse, because you also have to pay for every additional user.We really hate this pricing model, that’s why we decided to give you every module with each subscription of BizFusion.

We believe that we provide a very simple subscription modal that anyone can understand.You simply pick a subscription that matches your company’s size.If you’re a small company, then you simply choose BizFusion Studio.Our Studio subscription is the most affordable accounting solution on the market and provides the complete BizFusion application.
And it certainly is the most popular version among our users.

We still provide a free version. The free version is limited in the amount of transactions that you can post. Think of our free version as a trial account that never expires. If you’re a student entrepreneur, then you can still get a completely free version of BizFusion Studio. Most of us were student entrepreneurs ourselves at one time. We did many web related projects, like building and designing web sites and we even created logos and brochures. We think fondly of this period in our lives and we like to help entrepreneurial students out by giving them free access to BizFusion Studio.

Street Fighter

The business software space is crowded. We knew this from the start. But we also knew that there was a tremendous amount of opportunity still left in this space. Twinfield is our biggest competitor in Holland, but we absolutely love punching them on our blog. It’s also quite easy to do, since Twinfield seriously lacks key features like inventory management. Stomping on them is even easier when you know that their software costs a kidney. Another competitor is Kashflow. They also lack serious inventory management features and they don’t provide authorization features. This means that even your hired help can see your profit & loss statement. That’s not a very desirable situation to be in.

If you look at Twinfield, Kashflow, Xero etc, you will soon realize that all of them don’t provide any inventory management. This means that retailers, wholesalers and web shops are out of luck with them. Most web based accounting solutions seem to be catered towards businesses that sell services. It’s the easy market to go after.

We once thought that the new wave of online accounting software was going to replace the existing PC accounting software, but the simple fact is that the new vendors of online business software simply haven’t delivered on this potential. They created a basic online solution and stopped there. They have now fallen into the same trap as the vendors of desktop software that came before them; they stopped innovating and have become ‘fat’ and slow.

These new fat cats don’t compete on price. Their prices are very close to each other and simply too high. They simply don’t innovate and they mostly cater to small companies that sell services instead of physical goods.

That’s why there’s a huge opportunity for BizFusion to win market share. We’re young, we’re hungry and we want to strike it big. Our passion, IT skills and drive towards innovation are the uppercut that will knock our competitors out.

They Love You

We sometimes get the question if bookkeepers and accountants hate us. Our answer is very simple. Yes, some of them do hate us, because they are the kind of bookkeepers that only provide basic data entry of your paperwork. But there’s also another category of bookkeepers; we call them the Innovative Bookkeepers (IB). The Innovative Bookkeepers love online business software like BizFusion.

These guys embraced online business software and told their clients to start using online accounting software like BizFusion. They now collaborate with their clients by using online business software. The clients do most of the simple data entry work and their bookkeeper provides support and helps them with data entry that requires a little bit of accounting knowledge.

The Innovative Bookkeepers knew that online software was going to change their business and they didn’t stick their head in the sand. They embraced this simple fact and started offering additional services to their clients. The IB now offers additional services like payroll services, consultancy, debtor management, pension management and even human resource services. They are no longer simple bookkeepers; they now provide professional money management services to their clients.

Wrap Up

Get to know us a bit more by visiting our blog: https://www.bizfusion.nl/Blog.aspx.
We write most of our blog posts in English, because we have gained a large international audience over the years. We blog about serious stuff, but we also throw in the occasional blog post about a movie that we have seen or a new television show that we like. Hey, we’re humans just like you. But we’re just a little bit crazier about software.

Sailesh Ramasray
Founder / Developer BizFusion

Some additional links
BizFusion: https://www.bizfusion.nl/Tutorials/Intro_English.htm
Find us on Twitter: Twitter.com/BizFusion

 

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