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How does Pry position itself in relation to QuickBooks and Xero and how do they plan to partner/compete?
Andy Su
Co-founder & CEO at Pry
First of all, I have no intention of building accounting software. I tried doing that in my last company inDinero, and now I'm definitely over it.
I think QuickBooks and Xero are excellent tools, and they integrate well with other companies. There are some challenges sometimes with the integration, like a user might come to our site and see that something's wrong, and it's actually wrong in QuickBooks. But if it's wrong in QuickBooks, it's usually because the person who is responsible -- the accountant -- didn't do it right. So it's ultimately still a person's fault when you track that down. It's not because the software was doing anything wrong. So I think in that respect, I can see Pry working with QuickBooks and Xero long term.
I think QuickBooks and Xero have both tried building budgeting apps into their systems, but we're able to move faster and more agilely. So we'll be able to have our own space there. And ultimately, I think this is to QuickBooks’ benefit: we're enabling QuickBooks companies to punch up, to delay that switch to NetSuite or Anaplan. I can see a stack where QuickBooks and Pry work for larger businesses, so those companies don't need to pay those large enterprise contracts. They can just stick with the tools they’ve been using.