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Your idea is great. So great even, that there is already a precedence for this sort of thing. Mint.com, indinero, less accounting, all of them use backend bank
by alttab 15y ago
Your idea is great. So great even, that there is already a precedence for this sort of thing.
Mint.com, indinero, less accounting, all of them use backend bank services like Yodlee to sync with bank accounts and statements, auto-categorize expenses, and generate visual reports and integrated tracking tools to make accounting and bookkeeping simple.
The question isn't "is my idea good?" it really is "do I have enough of a unique angle to compete with others in that space?"
- phankinson 15y agoAbsolutely - I'm familiar with the companies out there. However, those companies typically only focus on a few banks to do an automated reports. Also, from bank statements and credit card statements you can't get granular information like amount paid for multiple items from one store or even the tax you paid. Our solution would take your receipts and invoice, extract that granular data and feed it back into a system for the business owners.