How Expensya wants to carve out its share in the expense report management market
Frenchweb: How is the expense report management market ultra competitive? Is there room for everyone?
Karim Jouini, Founder and CEO of Expensya: Today in France (Europe or worldwide), expense reports represent several billion euros per year. This market continues to develop with the emergence of new forms of work, in fact, we all gradually become entrepreneurs, often independent and administrative tasks consume too much time that should be devoted to its core activity. The management of expense reports is an essential subject because it is directly linked to the question of the company’s treasury, and as it is said in the world of finance: “cash is king ”. However, this task is living the digital revolution. Those who have to file expenses, accountants and businesses every day are looking for one thing: to make their lives easier. No one yet wants to waste time configuring an expert system, which is moreover unsuited to the concrete needs of people.
Our market potential is considerable, I believe we will succeed and be a leader if we continue to listen to our customers and make their lives easier. Our solution is designed around machine learning technology, it is potentially as precise as humans, but much faster. However, we don’t do technology for the sake of technology. We focus on the uses, the needs of our customers and the resolution of their problems. The market is still young and very competitive, so you have to be extremely attentive to the needs of customers.
Take the example of Birdly: a Parisian startup also in the same market as us. Their first version has just been abandoned and they had to completely review their product. The reasons for this reversal are in my opinion a targeting error and an underestimation of technological costs. They first decided to target freelancers with cross-platform mobile applications: but the technological costs, of machine learning and of cross-platform development mainly, and the cost of acquiring this clientele compared to their average basket did not allow a viable model. . After a few months they had to reorient themselves completely and abandon part of their target. For our part, we have opted for a more general model but with strong possibilities for personalization and adaptation to the customer, which allows us to be multi-target.
What has been your growth strategy since your inception?
We have segmented our market and identified different needs according to the targets in terms of expense report management. However, we have noticed that despite the variations, the basis remains the same: from freelance to multinational, there are adaptations to be made, but the heart of the system remains the same. We have opted technologically for a general solution, which adapts to the user automatically, and which can also be adapted manually, whether through customization options that the customer configures alone, or that we develop for him.
Our main challenge in 2015 was to design a mature service from a technological point of view, then to test and improve it with the first large accounts with whom we have co-innovated to offer them a solution adapted to their problems of expense. This first bet was successful. Our second challenge was to convince large companies and accounting firms to try and then use Expensya. We have had an inclusive strategy vis-à-vis accounting professionals: we are not systems that compete with them but rather tools that simplify their work with their clients. Whether they are internal to a company or independent, our system can help them simplify the way in which they intervene in the flow of expense reports.
What are your plans for 2016?
In 2016 we want to continue our internationalization strategy. We have just expanded to around twenty countries: we are going to boost our growth in these countries and open up to others. We will also continue to expand Expensya, and many new features are arriving from January: the objective is to cover 100% the field of customer needs, especially in terms of customization options, to allow each type of customer to adapt Expensya to its own processes with just a few clicks.
We have also opened the integration project, in particular with the project managers and ERPs most used by our customers, in order to become a link in their IT ecosystems. Integration is a necessity for us and a need for our users. For some of them, buying Expensya is like buying the best car stereo in the world; it will have to be integrated into the car.
Karim Jouini is a computer engineer by training, graduate of INSA Toulouse and University of Western Ontario, Cloud and Machine Learning specialist, he worked for Parrot and Microsoft where he was manager of a Cloud team. Several times an entrepreneur, Karim has known the torture of expense reports, and decided to make it disappear: it is for this purpose that he created Expensya, an all-in-one solution that takes advantage of new technologies. to transform the business world’s most hated administrative processes, and make life easier for businesses of all sizes.
Expensya is expense management software that modernizes the way you manage business expenses to make your life easier.
[Contenu proposé par Expensya]