We were building software and IoT for industrial automation before we started working on this. We dealt with a lot of invoices, purchase orders and estimates for different customers/vendors on a daily basis. We used to manually make invoices on spreadsheets and store them locally on our computers. Initially, it was working fine but as we got more sales it started to get difficult to manage. On top of that, we had to file monthly tax returns where we would manually consolidate our sales on spreadsheets and send them to our accountant for filing. The whole process is tedious and the existing software available to do it is riddled with accounting jargon and primarily targeted towards professional accountants.
We quickly realized that these efforts were not helping the company and that the time and energy would be better spent on talking to our customers and focusing on our product. Interestingly, we also found out that most of the ~75M SMEs (Small and Medium Enterprises) in India still rely on manual processes in tracking sales, purchasing inventory, cash management, tax filings, and payments—all highly inaccurate and inefficient and a huge opportunity for us to make an impact.
We launched with a simple MVP, with just the Sales module in January and recruited our first few customers. With continuous feedback from our initial customers, we quickly iterated and improved our MVP and started adding Purchases, Estimates, Expenses and Inventory modules. Now we have over 1000 businesses onboarded with us and growing.
Using Swipe, business owners can now create invoices, purchase orders and quotations in a few seconds without any accounting knowledge. Based on their sales, purchases and expenses, we automatically update inventory, payables and receivables and make it easy for them to manage accounting. We also instantly generate those awful monthly tax filings!
Thanks for reading. We would love to hear your thoughts, experiences and the time you spend on accounting and tax filing. We are live on https://getswipe.in. Please share your feedback with us.