Talking Money With inDinero
For this week’s episode of the Duct Tape Marketing Podcast I visited with Jessica Mah, the twenty something co-founder and chief architect of inDinero. inDinero is a software as a service for business accounting, although Mah more accurately describes it as a tool that helps business owners monitor the financial health of their companies. According to Mah, “Most small business owners hate the idea of learning accounting software, so we’ve created a solution that’s easy for anyone to use.”
Here’s how Mah tells the story of why she created inDinero.
Back in the 8th grade, Mah was earning and spending thousands of dollars while trying to grow her first company. She didn’t know how much money the company was spending, what its profits looked like, or what its recurring monthly expenses looked like. Manually keeping track of the company’s money through Excel or Quickbooks proved to be painful, and no solution at the time allowed for her to automatically monitor her company’s finances. Fast forward six years later, and inDinero was born.
You caught that first part above – back in 8th grade. Mah started programming and building web sites for people at age nine.
InDinero’s approach is to provide an intuitive dashboard of information that makes it easy for a business owner to monitor the health of the business rather than pour over accounting reports. One feature that business owners will surely love is inDinero’s ability to automatically pull in bank and credit card statements each month.
InDiniro looks, perhaps, to take the course of personal finance software Mint, which sold to Intuit for $170 M back in 2009. Although Mah is quick to add that she wants to solve many of the problems that small businesses face when it comes to tackling their finances and that inDinero is a long way from being done with that challenge.