The Web Transformation of Invoice by SpiderG - ToOLOwl
Monday , December 17 2018

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The Web Transformation of Invoice by SpiderG

The-Web-Transformation-of-Invoice-by-SpiderGDay to day life leads everyone to perform billions of transactions regarding receipts, bills, and other invoice papers during a single year. Dealing with invoices is generally or mostly, the hardcopy of transacting carried out for different works. Management of these have never been easier, but what changed them is SpiderG. Being the first e- invoicing platform, SpiderG was started by three friends, Ashwani Rathore, Prakash Nair and Harshal Ingale in 2015 with a mission to minimize the paper invoices through their portal, forming a reliable bond between a company and customers.

Following up of all these papers could be frustrating. Loss of bills, double payment, miscalculation, etc. were the hiccups that this Pune-based startup overcame. The three friends are operating the startup ahead to make this process of invoice an easy and manageable workout for SMEs.

How a spider builds its network by weaving is where the name originated. The three co- founders seeking to build the network of “connected” business with the ‘G’ which represents their Parent company Gladiris Technology came up with this name. Their long-term goal is to expand the business forming a secure network.

Lights on the Leads

Ashwani Rathore is an engineer from National Institute of Technology (NIT) in Allahabad and has acquired an MBA degree in Finance from Asian Institute of Management, Manila. After studies, he joined the IT firm, Cognizant and product company Talentica Software. He started an e-commerce business, Mom’s kitchen in 2007 but later sold it to start SpiderG.

Prakash Nair, possess a mechanical engineering degree from the University of Pune. Then did his MBA from Asian Institute of Management, Manila, has worked with Demag Cranes & Components’ sales department in Karnataka and Maharashtra. He contributes in ‘sales and operation’ division of SpiderG within several SMEs with exceptional experience in the same field.

Harshal Ingale has done his B. Tech in electronic from VIT- Pune University. He kick-started his career in the 2nd year of his engineering by doing research in VLSI microprocessor which helped him to design one of the few working asynchronous microprocessors in the world. After that, he started Abstracte Technologies, a semiconductor startup based on research and commercialization of advanced VLSI design techniques. Also, he had been a technology consultant for several small companies in software and hardware design, and implementation.

Problems are Guidelines

In starting, like other startups, it was tough to find the appropriate talent for them. The biggest problem they think is, people join the startups, but the issue is their stability. As soon as they acquire a better opportunity and salary they switch the job. They, therefore, introduced a quite different approach. They ask the interested candidate to work for 1 or 2 weeks before the joining so that it helps out to get the desired candidate with a better vision about him.

From the idea till now the implementation, their families have been very supportive. Moreover, the startup industry’s fever across the globe has done remaining work to impress them. The startup along with these three heads has a team of 15 members those are serving various SMEs across the country.

Many companies are facing problems in the sector of paper transacts, invoices which lead them to put SpiderG. SpiderG provides a paperless management through its app for the business so that they keep control over communication with vendors/suppliers as well as with the customers. It helps the companies to manage accounts, payments, receipts, etc. by letting the data shareable with Managers, finance teams, accountants.

Features Differentiate SpiderG from others

  • SpiderG provides cash visibility.
  • It offers integrity with existing systems like Tally and SAP.
  • Exchange smart invoices, purchase orders and other documents.
  • Allows users to communicate over invoices and provides transaction visibility.
  • SpiderG has keys features like Dashboard, E-Transactions, Doc-Chat, Activity stream, Expense Recorder, Cash-Cal that a user can access.

They do not have direct competition in their respective market; some companies are implementing through ERP, but SpiderG is aiming to occupy the SMEs all over the world after the proper establishment across India. Currently, SpiderG has a client base of around 170 companies aboard, including Pharmerz.com, an online marketplace for pharma companies, as one of their key clients. They participated in the trade exhibition events held in Pune and Mumbai. Also, their team attended seminars conducted by Google and Amazon AWS to increase their networking and partnership scope with potential technical giants.

Goals to fulfill

With the plan to raise venture capital of $5, they are also looking forward to conduct 20 roadshows in India in 2016. They are targeting to get 10000 on board SMEs by the end of the year. Also, to help customers, tying up with banks to carry out bill discounting on SpiderG platform will also be a motive in the near future. They are aiming to build their network stronger so that more companies transact via their platform, encouraging them to offer numerous services to clients and customers using an in-house medium or by coordinating with a third party tool.

They wish to see SpiderG’s expansion in other lands like US, Philippines, and the Middle East with more flexible performance in every possible industry/sector to fulfill the business requirement of other companies.

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