Start-up Story: eFolio Accounts is a Cloud Bookkeeping facility that helps business start ups get paid on time and manage cash flow. It is also a invoicing facility, and a collaborative accounting facility. It is built as a double entry automated accounting platform. The key component with eFolio Accounts is that it has been built to keep it simple for the user. It is a SaaS (Software as a service) so the only thing you need to use it is a web browser, and it works beautifully on tablets and smartphones. The main benifit for users is the ability to have an instant view of a dashboard and to be able to see the financial psition of the business at any one time. It is an unlimited piece of software, so you can invite as many users as you like. Invite your Accountant, your bookkeeper, or Secretary to manage the finances of the business. Get your sales team to send quotes, and use it as a CRM to follow up afterwards and close that deal.

Why did we start

eFolio Accounts was started because we wanted to bring simplicity to cloud accounting. We felt that many of the systems on the market were too cumbersome, and we know that all the people using Word and Excel to invoice and do bookkeeping were worried about losing information.

Where do we see it going

We have very exciting plans for eFolio. Our development has a pipeline of new features that we will be releasing to the system over the coming year. One of the most exciting is to be able to get paid by directly clicking on a link on the system by Debit/Credit card. Right now you can do this on the system by integrating your PayPal account. We want to give more freedom to our clients clients who do not want to go through PayPal.

What needs to happen for it to grow

We need to keep working hard to Market our website, and to provide a killer Support website and support system. We believe that we have found a secret sauce in our marketing as we are gaining traction in the marketplace. Every day more businesses around the world find us, and many are in Ireland. eFolio is an Irish Company. We want to ensure that our clients talk about us, and this will happen if we continue to provide value, and a great system.

What we have learned

We have learned that you need to keep a consistent sales and marketing function within the business. Every day has a set of tasks which are founded in our marketing plan. We use this plan as our bible and it is constantly reviewed and amended as necessary. We have also learned that there are many problems that the system can fix within a business. Generally bookkeeping is not something that people relish. We are out to change that.

Tips for other businesspeople starting out

Keep the faith, and don't give up. The reality of business is that it takes time to grow and develop. Be confident that you offer a service or product that is of good quality and that it stands up in the marketplace. Analyze your sales patterns as time goes on. In year 2 and year 3 understand why you are busy in some periods, and not in others. Try to grow those quiet times, and maximise the peaks.

Written by Mark Hegarty. For more information visit [box] You can share your story too! [button color="#009933" button link=""]Submit Your Start-up Story[/button] [/box]



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