In this
issue, we are extremely happy to feature the exclusive interview of Mr. Govindraj Muthyalu, CEO, Cashpundit Inc.
Cashpundit is the
world’s first cloud based Cash Flow Management Software. Cashpundit identifies
potential shortfall in cash balances in advance so that businesses can take
necessary action to avoid cash flow problems. It helps CFOs to know exactly
where they stand when it comes to their cash flows.
Govindraj, the Founder and CEO of Cashpundit, is a CPA, CIA and CISA,
and has more than 25 years of finance, accounting, and IT experience. He has worked as a Financial Controller and a
CFO of many multi-million dollar companies in Middle East. He has lot of
experience in designing systems and implementing ERP packages in various
industries.
Cashpundit has won 7 international awards and has been a finalist in 5
international award programs.
Origiin: It is
a great pleasure to interact with you and publish your thoughts in this interview.
Mr.
Govindraj Muthyalu:
It’s a great honor for Cashpundit to be featured in Origiin’s
newsletter. It’s my pleasure to interact
with Origiin which is a very reputed IP newsletter.
Origiin: Tell us about your journey as the CEO of Cashpundit Inc.
Mr.
Govindraj Muthyalu:
Journey of a start-up CEO is like a roller coaster ride and fraught with
lots of challenges. There are deadlines to be met, customers to be acquired,
finances to be managed, partnerships to be developed, new features to be added
to the product, customers to be supported, and new technologies to be
incorporated. A startup will not have enough resources and the CEO will have to
wear many hats depending on the situation. I have worn the hats of
Receptionist, Secretary, Salesman, Accountant, HR manager, General Manager, and
CEO. I am ably supported by a dedicated,
committed and motivated team who is also ready to take up the responsibility
and face the challenges.
Origiin: How
did you come up with the idea to develop such an innovative tool? When was the
first time this idea struck your mind?
Mr. Govindraj Muthyalu:
Cash flow is the life blood of all businesses. The number one reason why
businesses go bust is they run out of cash. However, if you ask any CFO how
they manage their cash flows, almost all of them will say that they prepare it
manually in Excel. CFOs across the world have been struggling to manage cash
flows. I was also finding it difficult
to manage cash flows of businesses wherever I was working. I looked for a software which could help
businesses to manage their cash flows, but I could not find any software in the
market. I spoke to my professional
colleagues and all of them said that they were also facing the same problem. That’s
when the idea of developing Cashpundit struck me.
As per Dun & Bradstreet there are 235 million businesses across 200
countries in the world. I am sure almost all these businesses generate cash
flow statements manually in excel.
Origiin: We would like to understand your point of view
regarding the impact of the current amendments that have taken place related to
Software patents.
Mr.
Govindraj Muthyalu:
The patent office has recognized the importance of start-ups and has come up with amendments which encourage start-ups to
apply for patents. The patent office fees for start-ups now is much lower compared
to other entities, and a startup can now opt for expedited examination.
Moreover, in line with the changing times, current amendment provides
the option of holding hearing via video conferencing. This is a big relief for patent
practitioners. I think, the current amendments are in line with the changing
times.
Origiin: With so much competition
increasing in the providers for online money management tools, what makes
Cashpundit different from its peers?
Mr. Govindraj Muthyalu:
Cashpundit is like a CRM for Cash Flow Management, and we call it a CFM.
Most of the existing CRMs in the market focus mainly on Sales, Marketing,
Receivables, Customer Service / Support space. There are very few CRMs that
focus on Cash Flow Management. Moreover, most of the CRMs that focus on cash
flow management require users to either enter the data manually or upload the
data using excel. Very few CRMs can sync with the accounting softwares and
fetch the data directly from the accounting softwares. Cashpundit syncs with
accounting softwares and fetches the required data directly without having the
need to manually upload the data.
The following unique features make the Cashpundit’s CFM solution unique.
·
Generates detailed projected cash flow statement on daily, weekly and
monthly basis.
·
Provides reminders to follow-up overdue invoices.
·
Sends automatic emails reminders before and after the
due date until the invoices are paid.
·
Automatically emails statement of accounts to
customers.
·
Provides sales person-wise comparison of actual sales
versus budgeted sales for the month and year to month.
·
Projects cash inflows and outflows based on Sales and
Purchase Forecast.
·
Maintains invoice-wise history of communication with
customers and vendors
·
Provides restricted access to salesman to follow-up
and send statement of accounts to their customers.
·
Projects receivables and payables statements based on
Invoice Due dates, Payment Cycle dates & promised dates.
·
Manages Post Dated Checks (PDC’s) received and issued.
This feature is not available even in ERPs.
·
Provides list of invoices which are overdue but have
not been followed up so far.
·
Provides reminders to inform credit insurance whenever
a credit insured customer defaults.
We have recently launched Cashpundit’s App for CEOs, CFOs and CXOs. This
app provides a snap shot of important reports and helps them in monitoring
their receivables and sales on a daily basis on their mobile devices.
Origiin: Tell us about a time when you
faced some sort of overwhelming challenge at work and how you overcame it.
Mr. Govindraj Muthyalu:
When I started the company I had thought that it would be easy to sell
the product. But when I started approaching the finance heads, everybody
expressed their concern about the safety and security of their data on the
cloud. All my explanations and assurances regarding the safety of their data
did not allay their fears. As a result, I
was unable to get my first order even after 3 months of my full time
effort. My team was getting demotivated
and had started thinking that Cashpundit would not take off. I was very confident that Cashpundit was a
unique product and did not want to give up.
Since the main concern of the customers was security of their data, we
went back to the drawing board and started evaluating what kind of additional
security features we could offer. We also looked at other cloud companies and
the security features that they offered, and incorporated those security features
also into our software. Moreover, we changed our hosting provider to Amazon,
which is the number one cloud hosting company.
Once we did this, we got our first order immediately.
Origiin: Thank you so much for your
valuable inputs and time spared for Origiin. I am sure our readers will
thoroughly enjoy it. Wish you all the best for all your future endeavors.
Mr.
Govindraj Muthyalu:
Thank you, it was my pleasure.
