inDinero automates finances for small businesses

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inDinero is a startup company that's generating a lot of buzz for its simple approach to financial software for entrepreneurs and small businesses. It's referred to as the Mint for small businesses, which basically means that it's the disruptive software product that many of us have been waiting for. It's free to start, and they offer premium accounts ($30/month and $100/month) for businesses with more complex finances.

Normally I'd test the product out and give it a thorough review. Unfortunately I don't know anything about business finances or accounting, so I really don't feel qualified to offer an opinion. Sure, I helped start Less Annoying Software, but we're one of those "lean" startups which basically means that we don't have to worry about messy financial stuff because we don't really spend any money.

However, I can say that inDinero looks like a great product, and the founders definitely have the right attitude. They understand that small businesses want things to be as easy as possible, and that employees don't want to waste their time on non-mission-critical tasks (like figuring out how much money the company has). As LAS grows and our finances get more complicated, I'll definitely try out inDinero and I'll write a more complete review. In the meantime, maybe some of our readers that actually know about small business finances can give it a shot and let us know what they think.

I'll leave you with some final thoughts on inDinero:

  • The product is still very young and unpolished. I signed up and played around for a bit and noticed a number of minor bugs. The product looks solid enough, but be prepared for some hiccups.
  • In this interview with Techcrunch, the co-founder of inDinero mentions something interesting about Intuit's dominance in the SMB accounting software field. She points out that Intuit has 95% of the market, but the market is still relatively small because Intuit's products are so poorly designed that most people decide to simply forgo accounting software entirely. This is exactly how LAS views the CRM market for small businesses. We aren't competing with Intuit. Instead we're going after the clients that Intuit drove away from the entire industry with their uninspired products.

That's all for now. Once again, I hope to talk more about this promising company/product in the future once I actually have a need for it. If you want to give it a shot, you can sign up for free at their website.

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