Published: 14th May 2018
SlickAccount is here to help if you wish to keep your business profitable
SlickAccount's accounting and software tool is educating SMEs about their financial situation and offering them solutions to remain profitable
If you’re struggling to keep your business profitable, then SlickAccount is here to help. Started by Bibhu Datta Dash and Sanmaya Kumar Dhal in 2013, SlickAccount helps SMEs, small software firms and start-ups to stay profitable through their web-based accounting and invoicing software tool. Their money management and profitability software offer simple cashflow management, invoicing, bank transactions, tag transactions, project-based profitability, pricing advice and financial analytics. “Accounting software are always hard to understand for small businesses and we believe that through our key technology innovation, we can change that perception,” says Sanmaya, the company’s CEO.
Financial lessons from the best
But running a start-up wasn’t easy. Sanmaya and his team had to do a lot of research. They even collected insights from top CFOs on metrics that help businesses grow profitably. With all those learnings and insights, they created a software that can work like a virtual CFO for SMEs and businesses, thus guiding, warning and showing anything that helps them become profitable. SlickAccount has two products— ProfitBoard and a GST Accounting Software. ProfitBoard is a modern and powerful financial analytics cash flow and profitability suit for entrepreneurs which lets them analyse marketing channel performance, ad performance, project-wise profit, basically anything and everything.
Wide reach: SlickAccount is currently present in 37 cities worldwide and has 10,000 users registered on its platform
Cut the excess flow
The most important aspect for them is to help business owners understand where their money is leaking, “Previously, we had a business in the user experience domain and we faced cash flow issues and ended up losing money. We found out that this was due to the hidden costs. Most small and medium enterprises also face the same problem of cash flow. They are unable to detect the hidden cost and price their products at a low cost. That’s how we came up with the idea of starting SlickAccount so that entrepreneurs like us can stop worrying about cash flow and profitability and effectively plan and visualise it,” Sanmaya added.
SlickAccount, unlike any other company, is passionate about saving small businesses and start-ups from cash crunch and improving their financial life
with better visibility and predictability to their cash flow
Sanmaya Kumar Dhal, CEO, SlickAccount
Let the machine do the accounting
Explaining the working of the product, Sanmaya says, “One will have to enter the data into SlickAccount from any accounting software and then connect their bank accounts or payment gateways like PayPal or Razorpay. Or they can manually enter data such as income, expense and asset purchases in ProfitBoard. After this, they will be able to tag each transaction,” says Sanmaya, adding that, “ProfitBoard understands what the least amount of cash you need to keep growing should be. And in every report, we strive to provide businesses with realistic figures.”
On the other hand, their GST Accounting Software lets you create GST ready invoices, send them to clients, manage inventory and stock, get reports and file GST returns, “We also provide consultation to our clients,” he asserts. With their innovative Machine Learning algorithms which pre-guide the cash flow and fund flow issues, their vision is to help and understand growth while managing expenses wisely. “We are envisioned to create the best-in-class financial tools for start-ups around the world, not just for India. We would love to see India as a production hub. We are helping to make better financial decisions. Nearly 60 odd per cent of the Indian population works in SMEs. So we believe that if we can fuel and save that economy, we are helping many people earn their livelihood comfortably,” he concludes.
For more, visit: slickaccount.com