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Asset.Guru [SMART 100, 2015]

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This SMART 100 profile and the information it contains is a duplication of content submitted by the applicant during the entry process. As a function of entry, applicants were required to declare that all details are factually correct, do not infringe on another’s intellectual property and are not unlawful, threatening, defamatory, invasive of privacy, obscene, or otherwise objectionable. Some profiles have been edited for reasons of space and clarity.

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1. THE BEGINNING

This innovation initially came to life when…

Following years of working for blue chip vendors, Asset.Guru founded Chris Petersen had a chance conversation about how large companies still manage what they own. This customer-led conversation caused Chris to understand today’s over-reliance on Excel to perform most tasks — including Fixed Asset Management. It raised the question: “If big companies are broken in their processes, what chance does a mid-sized and small company in Australia have to innovate?” This innovation sprang to life by aiming to answer: how can we make an elegant solution that any company could afford and leverage for success.

2. WHAT & HOW

The purpose of this innovation is to…

Asset.Guru aims to empower small and mid-sized companies to understand what they own, where it is and what it is worth. This empowering information maximises tax benefits and manages compliance risks.

It does this by…

Asset.Guru does this by being a global, cloud-based platform for internal and external company stakeholders to collaborate, keep items up to date and understand the link between finance (depreciation requirements), safety and compliance (information to track items) and business owners (empower investment decisions).

3. PURPOSE & BENEFITS

This innovation improves on what came before because…

Rather than being yet another software solution, Asset.Guru seeks to distil the essence of what market leaders such as IBM, Microsoft and Oracle do for big business and place this in the hands of small and medium-sized companies. Of course, most of our target market uses Excel so we provide innovative scalability, security and collaboration.

Its various benefits to the customer/end-user include…

Less data input errors, information being available 24×7 as spreadsheets are not being emailed, automated depreciation, an executive dashboard to understand what is going on and an ability to share the work amongst a larger team.

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4. COMPETITIVE LANDSCAPE

In the past, this problem was solved by…

We are the first Asset Management platform for Xero so we are the first to market. Historically though, most SMBs worked with an asset register, nothing more than an Excel spreadsheet to list assets for financial reasons.

Its predecessors/competitors include…

Our biggest competitor is Excel, mainly because that is how things have always been done. However, most companies are doing things manually. In a lot of ways we are leading the market with our unique approach.

5. TARGET MARKET

It is made for…

The target audience for Asset.Guru is any small-to-medium-size company that owns more than 10 assets of value. We want to empower companies to grow and remove complexity and rework around what they are doing. The level of inbound demand has been across the spectrum with just about all verticals represented in Australia.

It is available for sale through…

Asset.Guru is available for sale globally from our website (www.asset.guru), via our direct sales team at 1300-288-768, and via a growing list of trusted accounting and tax advisor partners.

Our marketing strategy is to…

Sales and promotion of our product has already been incredibly successful via our partnership with Xero, the Australian press, word of mouth and by working together with trusted tax advisors throughout Australia, North America and the UK. Our plan is to continue to execute with this already successful method.

FINE PRINT: This SMART 100 profile and the information it contains is a duplication of content submitted by the applicant during the entry process. As a function of entry, applicants were required to declare that all details are factually correct, do not infringe on another’s intellectual property and are not unlawful, threatening, defamatory, invasive of privacy, obscene, or otherwise objectionable. Some profiles have been edited for reasons of space and clarity.

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