This product has a big place in my heart as it was my first toe into the product development market. The SaaS market was young and new products and ideas were quickly entering the market. Ledgerex was to provide a slick and simple cloud based invoice system, which was not as complex as large software based applications.

The application was focused around chasing debts. Invoices could be created quickly, with PDF versions created on the fly. Furthermore all the dashboards and client lists were demonstrating what invoices were not paid beyond the terms.

As an SME this is massively important. Working Capital is key, therefore having a platform which allowed sole traders or freelance workers to quickly to send an invoice, then send reminders and chase the debt will help improve the debt resolution.

The system also has individual client profiles. Each profile lists all estimates together with all invoices. The system has the functionality to convert estimates to invoices. This helps the administrator understand what type of client they are: whether they are a client who has a large collection of ideas which never become paid work, or if the client has a large amount of paid invoices, all paid within payment terms.

The last element was timesheets. This provides a mechanism to itemise an invoice. This allows the user to identify the difference between estimates and invoices. Directly linking with them both helps identify if the estimation process is too negative which might be increasing the conversion rates but lowering potential revenues, or too positive and reducing profit margin of the job.