I learned some bookkeeping along this entrepreneurial journey: Quickbooks, Quiken, Freshbooks and Wave as well as Excel. Doing the books was never a never a passion of mine, EVER. But numbers do need to be kept, crunched and balanced. Since we have recently gone paperless, we have researched more and more online solutions to help with efficiency. Why print a receipt that is only getting scanned right back in? Most brilliant entrepreneurial inventions start from someone going through a painful experience and discovering a way to eliminate or minimize the difficulty in the future. SMACC has created a software platform to ease the discomfort of accounting…
The founding trio Uli Erxleben, Janosch Novak and Stefan Korsch came up with the idea after find accounting to be the most painful part of their own startup. Erxleben managed Rocket Internet’s US ventures in New York and San Francisco, and is also the founder of Berliner Berg, a
craft beer startup.
Customers submit their receipts to Smacc, which turns them into a machine-readable format, encrypts them, then allocates them to an account. The platform gradually also self-learns, tracking invoices, sales and costs, as well as their liquidity.