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How has the bookkeeping industry evolved since inDinero with companies such as Pilot and Bench offering tech-enabled finance back-office services?
Andy Su
Co-founder & CEO at Pry
I'm not sure about Pilot specifically or Bench, but for inDinero, when we first started it, you’d get an online dashboard to connect your bank accounts to your app and re-catalyze your transactions. We would file your taxes every year after going into those things.
That transitioned into us doing your accounting for you. You’d just give us your bank account and credentials and we'd connect everything for you. We'd categorize all the transactions for you and only ping you once a month for month-end closes. That's the standard now.
The pricing model also, back in the day, was since we do your taxes once a year, you’d pay us once a year. But that's evolved into a monthly model of probably, I think, starting at $500 a month for most people.