Quanta

“So pilots, any of the ones we just talked about, They have hired a very large staff that is just using QuickBooks. So they did not start by building their own QuickBooks replacement. They started using QuickBooks, and they started by hiring a lot of people, an…”

“I would say for anyone looking to use AI to start a company to displace what was traditionally done very manually by humans, first, see what they're doing really understand it then, two, do it yourself. As you bring on your first customers. So do the work your…”

“So once you hire the people to do it, and once you're supporting that, it's very hard to go the other way and come back to the automation.”

“We have just under a hundred right now.”

“If you are waiting until the end of the month to understand what your finances are, the time has already passed to make the decisions that are important. You really need to be making decisions on a day-to-day basis, and that requires understanding the fundamen…”

“Actually we do have a product that we call a QuickBooks backup, where if you, for whatever reason, want to do an export into QuickBooks or even keep a QuickBooks up to date, we support that. And it's a good way to get people in the door, especially we work wit…”

“And I think that, by the way, I think that's the best way to just build a great product. Just really see the dirty parts of it instead of just handing it off to someone else.”

“And the way QuickBooks is set up is it just makes it really easy for you to make those mistakes, because it doesn't have all these checks built in. It's really just sort of a blank slate you can write into, and the only way to verify that the data is correct i…”

“QuickBooks, it can solve for any sort of business model because it's so generic, but because of that, it's sort of just, it's like I said, a blank slate, just a little database. You can write anything into there, and because of that, it can support any busines…”

“The past 15 years of SaaS businesses, everyone just assumes that their margins are incredible, but now companies are spending so much on the LLM API providers, and because traditional bookkeepers don't understand those new vendors and how to treat them, they o…”

“Our approach was we only work with companies that fit within the automation that we have built.”

“Well, that's one reason that the hybrid software and services model is a great way to get started on a business like ours because that last mile edge case, we do have humans do, and it's helpful for onboarding and understanding the, our customers' businesses, …”

“So when with Quanta inherit books from other providers, we see all of these things miscategorized, and it's actually very simple for us to get that understanding based on what we see as the memos and what we see as the receipt content and invoice content.”

“So Plaid isn't a hundred percent accurate. I will say that we use a mix of Plaid and Finicity and other tools and the, but the best is when companies have APIs where the data is coming in? Well, the reason that Plaid isn't enough is that there's always small t…”

“From my payroll system, I see that a payroll ran, and then in my bank, I see that the money moved to run that payroll. We match those things together and make sure that they're consistent, and QuickBooks does not do that, but we built that from the ground up i…”