April 29, 2011 in ATDC News

The Startup Chronicles: AuditMyBooks, A Fusion Masterpiece

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Accounting is a nerve-wracking ordeal. A small easy-to-make mistake can leave your business in a big bind.

AuditMyBooks is bringing us all some peace of mind with the AuditMyBooks Analyzer, a subscription software service that automatically double checks accounting records for problems. The company got rolling in early 2010 and has been cooking it ever since.

Like any good kitchen, AuditMyBooks has a diversity of talent. A team with experiences in financial services, business intelligence, statistics, and security brought together ideas from other industries and applications to lead a true breakthrough in small business accounting.

By adapting ideas from detecting information security threats, AuditMyBooks set out to develop advanced statistical methods to analyze financial transactions and identify fraud and accounting errors. The company was quickly recognized as one of the 2010 Top 40 Most Innovative Companies by the Technology Association of Georgia and as the Best Native App on the QuickBooks Intuit Partner Platform.

Shortly after releasing their Analyzer AP product, AuditMyBooks won a $150,000 SBIR grant from the National Science Foundation. The grant was used to conduct research that supported extending the Analyzer product line. Later in 2010 the company experienced a whirlwind of publicity including presenting at the 2010 Venture Atlanta and receiving recognition from the prestigious Sleeter Group as having a “New Product To Watch.”

This year brings more excitement with ongoing support from Intuit and making finalist in the GRA/TAG Business Launch Competition.

Transferring ideas across functional and industry boundaries is key to driving innovation. By cultivating a multifaceted skill base, AuditMyBooks is serving up exceptional value.

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