Generating and handling invoices is a very tedious task for a company. They form the core of a very important process as the entire payment structure is dependent on them. Many companies face a lot of trouble in handling these invoices and sometimes even face loss because of small mistakes.
Conveniently a startup is working tirelessly to make this an enjoyable process by generating ‘smart’ invoices. DueCourse aims to help organizations control cash flow and manage outstanding invoices as well.
The minds behind DueCourse, Paul Haydock, Jon Grove and Tim Borden used to operate small business before conceiving the idea of DueCourse. They all felt that business owners had to chase clients in order to get the invoices processed and there was absolutely no way to observe the progress on invoice once it was sent out. This need let them to rack their brains and the result was DueCourse with its amazing features.
The founders understand the cash flow troubles and how it hampers the running of a business and have come up with a software which is absolutely free and can generate invoices to be sent to customers. But it is just not limited to this, the system can also track the progress that has been made on the invoice after it has been sent to the client with an option of making the payment using credit or debit card directly from the system itself. And if a customer has not yet responded to the invoice an automatic reminder can be set to nudge him to make the payment.
Challenges they faced
They faced a lot of challenges while settling up and making their first impact on the market. Arranging finance was one typical task as they could not get flexible investors and eventually they raised all their funding from London based investors. They could also not find appropriate technical talent at first to support their concept and bring it to reality. The first two version of DueCourse were inadequate and they had to work a lot on understanding customer’s needs. Through pulling the strings on feedback and analysis they could at last figure out the exact demands of the clients and how they could work to meet them.
Future of DueCourse
DueCourse has proved itself successful in England by being the top choice for many companies and hopes to expand its services internationally. They plan to provide DueCourse in 15 countries over the next 5 years with many new customers in their pool.
The Bottom Line
DueCourse has fared very well in this very competitive market where startups fail in great numbers. They have a lot to share with those still establishing their business. Founders of DueCourse advise other startups to come up with such products that actually have a place in market, to solve existing needs that are yet unmet. They say there is absolutely no planning or strategy that will work, everyday there will be new obstacles and new solutions. Persistence and constant trial is the only way to achieve success.