Knack Business Inc.

Adiv Maimon and Craig Martin have had the shared experience that as a business grows, so do the demands on the entrepreneurs’ time and the need to control staff and manage cash flow.

Most cloud-based software solutions aimed at the SME market are too focused on financial accounting and don't offer much value when it comes to cost and management accounting and business decision-making.

Existing solutions keep a record of what you earned and what you spent, what you invested in, what you borrowed and it produces financial reports for you on that historic information. It is written by accountants, for accountants to give you a rear-view picture of your business financial situation.

What problem are we solving?

All SMB software - without exception - is financial accounting-focused. That means that it keeps a record what you earned and what you spent, what you invested in, what you borrowed and it produces financial reports for you on that information.

On the other hand, a cost and management accounting solution is ideal for users, not only in manufacturing industries, but also in any value-add service industry. Adiv setout to build an integrated cloud-based solution that we solve his business problems, but he didn't initially realize that this was the basis for a cost and management solution for SMB (small medium business).

In April 2020 South Africa shut its borders to international travel and put the country into a national lockdown effectively shutting business operations down. Craig felt that this would give him the opportunity to revisit his project of trying to design the solution that he had struggled to find for so many years. He noted that Knack had many of the business features that he was looking for, but the current design showed that it lacked sufficient input on financial and accounting requirements. He also noted that Adiv was quite likely also living in the Cape Town, so he sent him an email asking for a Zoom meeting.

As it turned out, the timing was perfect. Adiv was held up in an Airbnb in Johannesburg waiting for the borders to reopen so that he could relocate to Berlin, Germany. He was keen to get some financial and accounting input to transform Knack into a global software solution achieving the deceptively simple goal of making service-based businesses more effective and efficient.

Within the next few months they setout to get a minimum viable product out to market before year-end. They achieved that goal by delivering a Christmas Day launch on 25 December 2020 (least disruption for existing clients). 

The year 2020 was the first time that many telecommuted to work, or worked remotely from home. Research indicates that as high as 65% of the US and UK workforce will be working form home by 2022. These statistics make it abundantly clear that online collaboration tools are becoming critical to how future businesses operate. We therefore believe that there is enormous growing demand for a solution like Knack, with its integrated project management, time and task controls.

Join us on this journey as an early shareholder in Knack Business Inc. It is free to sign-up for the product. Use the product and recommend it to others. It will always be free to use for up to three users, so sign up here.

What is the size of the market?

You can approach determining the size of the market from both a top-down or a bottom-up approach. We can be sure that the current market value of SaaS financial software targeting English-speaking SMB's is worth at least $39,5 billion annually.  We would need around 350,000 users to achieve a share of $150m a year in revenue.

Who are our competitors in the global market?

We have attempted to chart our competitors based on strategies and capabilities.