PAPERKUT makes paper receipts a thing of the past
While on the train discussing the pain of GST returns with his wife, Drew Broadley saw an ad shell for the Bright Ideas Challenge, the first step in the development of his company PAPERKUT Paperless Receipts. Step forward two years and PAPERKUT has achieved ‘Highly Commended’ in the Innovation Category in the Australia New Zealand Internet Awards, are entering a trial stage and have added another full-time member to the team.
PAPERKUT Paperless Receipts is all about taking receipts and putting them into a digital format, allowing access anytime from anywhere. “It’s a platform to remove paper receipts from being an unfriendly and degrading piece of paper into a new digital medium, allowing better handling of information,” says Broadley. Unlike other similar companies, PAPERKUT is aimed at the untouched market of small to medium businesses. “Not only will PAPERKUT aim for an untouched market, we offer the ability to utilise the information on a receipt without the need of integrating into PoS Systems,” says Broadley, an ability which sets PAPERKUT apart from its competitors.
Entering the Bright Ideas challenge was a given for Drew, who had often had ideas off to the side and finally had the outlet to pitch to people outside his inner circles. “The Bright Ideas Challenge was an opening to opportunities and resources that I thought were only available to people in-the-know so I jumped at the chance to be involved,” says Drew.
A business plan, workshops and many fellow entrepreneurs later, Drew found his idea PAPERKUT Paperless Receipts had made it to the final stage of the Challenge. He was offered a scholarship from Grow Wellington to attend an Activate course “I didn’t know what I was in for but 16 weeks later I had graduated with knowledge that allowed me to take my business idea to players I long thought were off-limits,” says Drew. “I took what I learnt from both the Bright Ideas Challenge and the Activate course and started putting together documents and proposals that put me in touch with some very influential people.”
With help from Business Growth Managers at Grow Wellington, PAPERKUT Paperless Receipts' has received support from a wide range of people and organisations. “Funding for the prototyping of integrating retailers and developing the software behind this product hasbeen part funded by the Ministry of Science and Innovation through the TechNZ grant scheme,” says Drew.
Entering into their public trial period, their aim is to launch early 2012 with a major retail partner. And Drew’s advice to other businesses? “Grow Wellington should be your first step when that idea of yours has put you into a mindset of, is this feasible? They can offer the non-family/friends point of view sometimes you don't want to hear, but can save you money and more importantly your time in the long run. One of the sticking points I have picked up throughout the time working with Grow Wellington; don't be afraid to let people know your idea, it's the execution and the way you do it that is your secret. Remember the days before EFTPOS? These are the days before PAPERKUT Paperless Receipts.”