It began in year 2000. A small time entrepreneur named Benedict Paul, henceforth BP in short started his first business using QuickBooks to manage and create invoices for his business but every few years as computer operating systems changed, he had to re purchase upgrades to the software.
While he only used QuickBooks for invoicing and quotations, the accounting was outsourced to an accountant firm which used M.Y.O.B. As these were offline software, he had no easy way to view an up to date report of his business without paying further administration fees to the accounting firm.
In 2008, as the financial crisis took its toll wreaking economic havoc, BP's business was thrown into a time of serious cash flow shortfall and insolvency. Left with no financial resources to pay his accounting firm, he was forced to do his own accounting using backdated software. By 2016, BP had already bought 5 versions of QuickBooks each costing thousands of dollars and discovered that some old accounting data could no longer be opened if the data were not upgraded periodically.
As a software architect and programmer himself, BP had no idea why an experienced company with resources to hire top talents were unable to create a software to meet his needs. BP ran the idea of creating a new accounting software to his friends but was met with wave after wave of negativity. This made him even more determined to succeed.
Having left the I.T. industry 20 years ago, BP started coding his accounting software towards end of 2016. On May 3rd 2017, after 4 months of coding, BP at the age of 44, launched BPLedger and made history as the first and only online accounting software from Singapore.
It is also the only online accounting platform to be single handedly created by a single person.