Listen to this articleBelow is our recent interview with Francois Lelievre, CTO of Budgeto:
Q: Could you provide our readers with a brief introduction to Budgeto?
A: Budgeto is an online solution designed for entrepreneurs, by entrepreneurs. It was created to make budgeting easy and understandable for all entrepreneurs. It is currently used by over 10,000 businesses in more than 50 countries.
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Q: How exactly does it work?
A: Entrepreneurs start by setting up a few business parameters such as country/state, currency and start of fiscal year. Then, they fill out simple forms such as products, employees, expenses, debts, etc. And that’s it! Our system performs all the calculations and renders professional error-free financial projections. As simple as that!
Once they are done, they can work on different scenarios (optimistic, pessimistic, etc.) and share your budget online with the partners of their choice (banker, accountants, VC, etc.).
If they want to stay in perfect control of your business financial situation, they can also import historical data from their accounting software to be able to adjust their budget each month based on what really happened last month.
Q: What makes you stand out from your competition?
A: Here are the key points:
1) We focus on companies looking to grow
Most software offers automatic forecasts based on what has happened in the past.
This can be a good solution if you are a more stable and established company for which a forecast based on the past can be credible. Budgeto focuses on growing SMEs where the financial situation can change significantly from month to month. Theses changes can’t be supported by automatic forecast. Our goal is to educate our clients to develop the knowledge they need to maintain the financial health of their business.
2) Budgeto is not spreadsheets!
Most companies still rely on Excel to prepare their budgets, which makes no sense in 2019! Spreadsheets are not easy to use, they are not standardized and they can be quite dangerous. Close to 90% of spreadsheet documents contain errors. Spreadsheets may seems like a free tool, but think about time spent on it, and how much could a simple miscalculation cost company? It’s time to go for a standardized, error-free, investor-ready online budgeting tool that will save entrepreneurs time and money.
3) The most affordable tool on the market
The main difference between Budgeto and its competitors is our price. Because Budgeto was created by entrepreneurs very involved in their community and eager to really help entrepreneurs, we try to provide the best solution at the lowest price possible. We want our solution to be accessible even by a very small start-up company, and then grow with them.
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Q: What are your plans for the future?
A: We want to offer more tools to help entrepreneurs easily create and understand their budget. AI-based decision making, visual representation of your budget, comparison with similar businesses in your industry, and much more.
We also want to integrate with more financial systems so that entrepreneurs can easily exchange data between accounting, budgeting, and so on.
We want to reach and support a maximum of companies and thus contribute to the development of an entrepreneurial world in perfect control of its financial destiny.
We want entrepreneurs to know their numbers, so they can grow their business.
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