Faayda.com (means profit in Hindi language) aims to make life easier for small and medium business operators by providing simple online tools for billing and invoicing customers. It has additional tools like collaboration and Business directory, but online invoicing and payment seem to be the main feature.
They are still not open for public and will launch sometime in Jan 08.
Initial Impressions:
This is definitely a niche where there is lot of scope due to lack of online players in market. Yes, there are free accounting tools available that lot of SMBs use, but Faayda.com adds the hip ‘anywhere online’ factor to it and makes it attractive.
Infact, Faydaa.com is the first player in India to my knowledge (correct me if I am wrong) who will be offering invoicing services online.
What it offers:
Once you have an account with Faayda.com you can logon and create invoices online in minutes. I tried searching their site, but they have nowhere mentioned the amount of customization users can do, like adding logos, changing look and feel, customized columns and rows to the invoices etc. This will be very important to SMBs as they sure will want branding with their invoices. Users can email invoices instantly to their client or take print outs. Being on internet the users can access their invoices from anywhere.
The SMS feature they are offering – auto notification to the clients once you raise invoices – is quite helpful, ensuring that client is reminded in 2 different channels, email and SMS.
They also have reporting features to see which invoices are open, due for payments, closed etc.
In their future releases they are also plan to let the users’ access invoices using GPRS phones. Nice!
Concerns:
The biggest concern off-course with this kind of offering is security and reliability. The accounting data is quite sensitive and private.
Conclusion:
(Note: I have not tried the service myself, so take it with a pinch of salt)
Faayda.com surely fills in the need of individual entrepreneurs and small business owners on the move quite nicely. The other two features listed ‘collaboration’ and ‘lead generation’ are good to have, but I don’t really see how they are going to get much traction with it. As long as Faayda.com can convince users about security and reliability of data, they should be in for a long haul. Well done Faayda founders!
Comments
Thank you for writing about faayda.com. I wanted to clarify a little about customization. The users will have the ability to upload their own logo and which will be automatically be displayed in all the invoices, as for changing the layout they will not have the ability as of now. We will launch with a standard layout but later add the ability to customize that as well.
Security is our primary concern too. We want users to feel safe with their data and will implement security features to keep every app on faayda.com secure.
ToadTime is an online time tracking, invoicing and task management tool – featuring QuickBooks integration.
Sounds cool! I’ll certainly give it a try! I think it’d be at least better than my current invoices using Microsoft Word.
http://www.invoicera.com is another online billing/invoicing software. The application is extremely user friendly and incorporates all the contemporary features that makes the software complete. though invoicera is still in the pre launch stage I would personally urge people to visit the website and register for the free beta version to be launched in 30 days. The reason why I am saying all this with such authority is because I have practically used every product and service of the parent company and they have been outstanding.
Hey All
I have been using the services of http://www.invoicera.com for quite sometime now and they are coming up with the new Invoicera with features like time-tracking, expense tracking, import function, and much more. Check out their blog at http://www.invoicera.com/blog for updates
Cheers!!!
Hi Arun,
Can you review http://www.Beejak.com – Invoicing Simplified. I am sure you’ll find it worth reviewing.
Comments