Paper.id Inaugurates Attendance, Announces Collaboration with BNI Yep!

Startups that move in invoice (billing) Paper.id inaugurated its presence to the public, as well as announcing a business collaboration with BNI in presenting Yap!. The presence of BNI is expected to make it easier for clients from Paper.id partners to make invoice payments just by scanning the QR Code.

Paper.id is software invoice, accounting, and inventory. Business actors can create financial reports on various devices and provide analysis so that they can know everything about the company's finances (cash flow, inventory, etc.) real-time.

Currently, Paper.id has been used by more than 5 thousand MSME players with a percentage of about 45% located on the island of Java and the rest outside Java. Of the total users, Paper.id has sent more than 30 thousand invoices digitally.

It is targeted that by the end of the year the company can attract up to 10 thousand new customers, while in 2019 it can increase 10 times to 100 thousand customers.

Previously Paper.id appeared at the end of 2016 with a beta version, then upgraded its service to the full version in August 2017. The Paper.id application is only available for the Android version.

"In the midst of the high growth of MSMEs in Indonesia, there are still many business owners who ignore their financial management which should be managed properly. invoice manuals that are cumbersome and difficult to track, as well as the lack of understanding of business actors on accounting basics," said Jeremy Limman, CEO of Paper.id, Monday (23/4).

He continued, often in the midst of busy business, business people forget to send bills to their business customers. In Paper.id, there is a reminder feature to help them send invoices or receive payments from customers in a timely manner.

Whole invoice entered by the business actor, will be stored in the cloud so it can be accessed and stored at any time. Because Paper.id also provides access to its services via PC browsers and mobile applications. Not only that, customers can also send invoices via email, messaging applications such as WhatsApp, LINE, and BBM.

For monetization, Paper.id applies a system freemium. Business actors from micro and small scale businesses can use all Paper.id services, it's just that there is a limit to access for users who can use the application at once.

"If you want to use invoice from us it's free no limit. Only later there will be a limit on how many users can access the application at once. That's where our monetization is, the cost starts from IDR 50 thousand a month to IDR 500 thousand a year."

Business collaboration with BNI Yep!

To make bill payments easier, Paper.id has now been integrated with BNI for Yap! products. So every invoice sent from Paper.id will have a QR Code listed, so customers can make payments directly from the Yap! application.

"Together with Paper.id, we collaborate to make it easier for business actors to digitize their business processes, from sending invoices to receiving payments using digital payment solutions," said Assistant VP Internet Banking & e-Commerce BNI Ida Priadi Wibawa.

Apart from BNI, the Paper.id system also provides a variety of secure payment methods, ranging from bank transfers, virtual accounts, credit cards, m-banking, and e-wallet.

Get early stage funding

During this launch, Paper.id also announced the acquisition of an undisclosed initial stage funding from Golden Gate Ventures earlier this year. The fresh funds, according to Paper.id CTO Yosia Sugialam, will be used for product development, business operations, and strengthening marketing.

He said, currently the company is quite profitable because the search keyword "free invoice" is being loved by many SMEs throughout Indonesia. As a result, the company gets a lot of users from there.

"The search for "free invoices" is quite high and has good results when we are still bootstrap. Well that's what we will strengthen and want boost again so that the performance can be higher," explained Yosia.

Golden Gate Ventures Business Development Dea Surjadi said Paper.id positioned itself as a platform to help remove obstacles in financial management, so that all MSMEs can focus on what is really important. Namely serving customers and growing their business.

"Providing seed funding to Paper.id is a unique opportunity for us to help develop MSMEs in Indonesia," said Dea.