The online invoicing space boasts several competing platforms, with FreshBooks, Wave, Zoho, Invoice Machine and several others taking market share.
If a new platform is both highly accessible and free, there’s always room for one more though. In an effort to reach a more global audience, Dynacom Technologies has developed a new application for safe, free and multilingual invoicing and time tracking called Nutcache.
Currently over 90 per cent of Dynacom’s customers come from Quebec, but the Laval-based company is hoping that is set to change.
“We want to grow the company and have a worldwide presence, and that’s why we’ve developed a web-based and multilingual solution,” said Dynacom’s director of research and development, Sébastien Boyer. “There’s no limitations, so you can use it to do as many invoices as you may need.”
A tool for freelancers and small businesses, Nutcache allows users to bill clients, manage expenses and keep track of hours on each project for no cost. Users can keep track of billable hours for each project, monitor project-related expenses and use real-time reporting to keep on track of finances.
Currently the site is available in French and English while a Spanish version is set to come out later this month. By the end of 2013 Dynacom expects Nutcache to be available in 10 different languages.
The application was launched in early January but is constantly being updated. Within three weeks another update is expected with multi-user, multi-company functionality. By next summer the company expects to roll out the Nutcache app on iOS and Android.
Creating revenue isn’t on Boyer’s mind, at least not yet. He’s confident the company can eventually monetize through advertising or their API once it becomes available, or through commissions on payment processing.
For now it’s important that Nutcache remains completely free and if it can rapidly implement several new languages then the space may be ripe for a new taker.