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…
The co-founders interviewed local businesses to establish what their main pain points were and how we may be able to help with the use of technology. Majority mentioned invoice processing pains as it took time away from the family even after trading hours were over. As cloud accounting systems (Xero, MYOB, etc.) are not able to deliver invoices directly to each other, it meant business owners have to re-enter data to complete the process. Link4 owners could see the cloud accounting systems had the ability to speak with each other if there was a translator in between.
2. WHAT & HOW
The purpose of this innovation is to…
…deliver eInvoices seamlessly and directly, from one cloud accounting software system to another.
It does this by…
…a customer creating an invoice in their accounting system. For example, in Xero, and then sending it as normal. With their Xero account connected to Link4, the invoice is delivered, for example, into a QuickBooks account directly, as long as they are connected to Link4, as well. This eliminates the re-entry process and speeds up cash flow.
3. PURPOSE & BENEFITS
This innovation improves on what came before because…
…eInvoicing as it was, was only simple for those sending and receiving from one cloud accounting system. For those using different software, it slowed the process due to the unnecessary data re-entry, leading to invoices being paid late.
Its various benefits to the customer/end-user include…
Saving time and money for small businesses in the simplest way possible, and saving the environment through paperless invoicing. Large businesses are able to use the service, too, and it increases cash flow to all those involved.
4. COMPETITIVE LANDSCAPE
In the past, this problem was solved by…
Entering the information from the invoice/bill that was received via email or PDF or print-out, manually into the second cloud accounting system. This is not a solution but an extra step in the process.
5. TARGET MARKET
It is made for…
Anyone that owns a business or completes the invoicing or billing for a business. Their background, age, race, or type of business is not specifically targeted or avoided. We do focus on small and medium businesses that use Cloud Accounting Systems, but we are able to meet the needs of large enterprises and government agencies as well.
It is available for sale through…
A freemium payment method. Link4 offers 50 invoices per month for free, but can upgrade to different levels that offer PDF reading features among others.
Our marketing strategy is to…
Educate the market, get early adopters on board and then upgrade customers to paid plans.
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.
Maven Judge Vote: Link4 – Smart 100 2018
(Please note – The form below is for judging purposes only and is restricted to the public)
