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Below is our recent interview with Alex Marlantes, CEO and Co-Founder at Everlance:
Q: What does Everlance do?
A: We’re a software company. Our primary product is an iOS and Android app also called Everlance, which is a 100% automatic mileage and expense tracker. The app is a set it and forget solution that uses your phone’s accelerometer and GPS to create a business mileage log. You can also snap a photo of receipts or integrate with your business credit card. These trips and transactions than appear in the app as a feed of cards.
Q: Who uses Everlance?
A: Our initial market when we launched was for self-employed people who have to document all of their business income and expenses for taxes. We now have users ranging from Fortune 500 employees to uber drivers using the app. Another way of thinking about it is that Everlance is a tool to replace the stack of receipts stuck in your desk or paper mileage stuck in your glovebox so really anyone who needs to document expenses for reimbursement or taxes can use the product.
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Q: What’s your progress been like so far?
A: Our iOS app was featured by Apple as one of their “Best New Apps” and a “Top Pick for iPhone 7”. Our Android app was featured in the Google Play Store as one of their “Best New Apps” so we’ve been doing well in the two App Stores. Ultimately of course it’s about what our users think about the product so the thing we’re most proud of is having the highest rated solution (4.8 stars, 1k+ reviews) in the market. We also closely follow the likelihood of a user referring the product to a friend or colleague.
Q: It seems pretty straightforward for freelancers, but how would a typical company use Everlance?
A: The app usage is split between people that want a super simple to use solution for documenting expenses for taxes (such as an independent contractor or subcontractor) vs. those who want to use the technology to manage employee reimbursements or even generate invoices for clients. People get really excited by the fact that they have an actual GPS map and all the work is done for them. Rather than taking all that time to fill out a spreadsheet it’s now as simple as swiping a trip to the left for personal or to the right if it’s for work.
Q: What sets your product apart from other expense tracking solution?
A: I think the focus on creating an automatic solution has really resonated with people. If you look at the market the vast majority of the solutions used are still pen and paper or something hacked together using Excel and a few other solutions. People are starting to think “there’s got to be an app for that” and I think that trend has been a tailwind for us and other developers. Ultimately all of that data that lives on paper will be digitized to make life easier for everyone involved – it’s just a matter of time.
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Q: So how much does it cost?
A: The basic service is 100% free. We hope that attracts a lot of people and that a portion of those will then pay us for Everlance Premium which has some additional bells and whistles. These are things like an administrative web dashboard, or the ability to set work hours to classify trips (e.g. 8-9 = commute, 9-5 = work) or the ability to integrate your bank account or credit card. Sometimes people ask us if we’re frustrated by the free users as there are some very real costs associated with geolocation data and storing the user data in a secure and private server, but we’ve always believed that the free users, even if they never convert to the paid tier, are incredibly valuable so we’re thrilled whenever people use the app. Word of mouth has been our #1 source of growth so we love the idea of creating a small army of salespeople to evangelize the product for us. We’d rather give that value to users than spend it on marketing.
Q: How can someone try Everlance?
A: Just take out your phone and go to the Apple App Store or Google Play Store. It’s a free app and within 30 seconds or so you’ll be up and running!
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