To run a business or even to know if you are jogging a a success business, accounting software program is required. Accounting software program video display units the economic health of a commercial enterprise. Businesses of all sizes employ accounting software. Typically, it allows coming into in all costs, consisting of payroll and device fees, as well as earnings, which includes profits from sales and so forth., and generating invoices.
For a small commercial enterprise and a startup, selecting the proper accounting software program is even more important. Taking the approach of ‘a startup can better recognize the troubles of every other startup!’, Mohit Mamoria & Mayank Thapliyal have started Owlgrin. This Gurgaon-based startup is making accounting softwares to solves actual issues.
Incorporated in April 2013, Owlgrin is the brainchild of pals – 22 12 months antique Mohit Mamoria and Mayank Thapliyal. Its first product Gaurilla is a cloud-primarily based accounting utility to simplify the technique of bookkeeping and accounting for companies.
Currently, they may be into premium software that is introduced as services – SaaS products. What makes Owlgrin distinct is that they do not agree with in making Indian replicas of existing softwares. With their first product Gaurilla, they've as a substitute recognized the issues faced via accountants and marketers and aimed to provide actual answers to them. Gaurilla became released as public beta on November 11, 2013 with round two hundred customers. Within 2 months, it grew to more than four hundred users.
A product at Owlgrin undergoes rigorous degrees of ideating, brainstorming, marketplace research and prototyping before it's miles released. Apart from Gaurilla, there are numerous tasks at Owlgrin which can be under studies and could be released as entire merchandise soon.
What’s with the exciting names?
For the startup, Mohit wanted a call that went with internet and cellular merchandise, and hence got here up with names with Owls. After crossing out unavailable names, they ultimately selected Owlgrin. Another purpose being that Owlgrin was also to be had that could be used as their personal branded URL shortener provider. Adding to the Owl-like traits is their willingness to work all of the time, “9-to-5 is records. We paintings 24 x 7 to serve customers. Night is our time!”. The call Gaurilla came through altering the spellings of animal names.
The Industry and the Market
The internet and mobile software is a continuously evolving enterprise, and with the non-stop introduction of latest technologies to clear up commercial enterprise management problems, it comes as no marvel that Owlgrin has a large market possibility. As of now, for its product Gaurilla, the company goals startups and small and medium scale business organisations.
The Revenue model
Owlgrin has a subscription-based commercial enterprise model. For Gaurilla, the organisation fees a small recurring rate.The provider prices $4 in step with month in keeping with enterprise. Also, the developers who can be placing up their modules within the market of the product may be paying 10% of the revenue they will generate. The enterprise is open to pivoting inside the future. However, it has no plans to add classified ads on its platform to feature any other revenue circulate.
Investments & Funding
Currently, Owlgrin is self-funded By Mohit Mamoria who has invested around Rs 6 lakhs to bootstrap it. The corporation is now in the process of increasing the group and is seeking to improve price range.
Most of the competitors for Gaurilla are accounting softwares like Waveapps, Zoho, Freshbooks, Profitbooks, Xero, Zoostr and Quickbooks.
Launching a cell app in the coming months is now on the cards. Another function underneath improvement at Owlgrinis an app market for the customers of Gaurilla known as ‘The Jungle’ wherein customers can customise their application by way of including/removing capabilities.
Going international is also a purpose the startup objectives to attain, but that requires a number of research. If Owlgrin keeps to pride its customers adore it does, we’re certain it will cross a protracted manner!