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Thriday uses AI to automate banking, accounting and tax for small businesses

What Thriday does

Thriday takes income and expense data and analyses it in real-time using artificial intelligence and machine learning to automate tasks for small business owners. This ground-breaking innovation is known as 'Luca' – a homage to the inventor of double-entry accounting, Luca Pacioli. With Luca, Thriday forecasts cash flow, schedules bill payments, sends invoice reminders and lodges your taxes. Thriday can save you up to 90 per cent of the time small businesses waste on financial admin.

The Current Landscape

Thriday is vying for market share alongside accounting giants like Xero and MYOB. Whilst Xero and MYOB are primarily designed for accountants to use, Thriday's intuitive design automates accounting tasks, making it accessible for small and medium-sized businesses. Its cloud-based platform ensures accessibility from anywhere, promoting seamless collaboration among team members. Additionally, Thriday offers advanced automation and AI-driven insights, streamlining financial processes and reducing manual data entry. In terms of cost, Thriday is often more budget-friendly than Xero or MYOB, making it an attractive option for startups and growing businesses.

Company Birth Story

Thriday was founded in early 2020 when friends and co-founders Michael and Ben started discussing the financial admin issues they had experienced running businesses. Having spent countless hours doing the books using online banking and accounting software, they couldn't believe how old-fashioned it was, and they felt it was the right time to do something different. Thriday considers itself the first 4th generation accounting software.

The Solution

Thriday is unique because it offers an all-in-one banking, accounting and tax solution. When you sign up for Thriday, you get issued a business bank account and a Visa Debit card that you can use to get paid and spend money. By integrating banking into the product, you only need to earn and spend money, and Thriday automatically takes care of the rest.

Thriday has raised $9 million to date and is growing 20 per cent, month on month. Thriday wants to scale its solution globally, so that all small businesses can take advantage of automated financial admin.

A Customer Story

Thriday's automated banking and accounting software is an excellent option for small business owners who want to save time, reduce the risk of errors, and make informed financial decisions. By automating your banking and accounting processes with Thriday, you can save up to 5 hours a week that you can spend on other areas of your business.

Lauren, a Virtual Assistant, uses Thriday to streamline her financial admin, "Since switching, I have had a life-changing experience. I took my first pay after not having to pay as much in the way of business expenses, and I was able to enjoy accounting, which has never happened before."

Thriday is designed to be user-friendly, even for those with limited accounting or tax knowledge. The platform can be accessed via the web or an app, and consultants can sign up in minutes. Thriday is also very affordable, with a free sign-up option and reasonable pricing for premium features.

Lauren added, "I find Thriday incredibly simple to use. It makes sense to me. It saves me so much time, which means more time with my family."

A founder quote

Our mission is to eliminate financial admin so business owners can focus on what matters – running their business and making their clients happy. Michael Nuciforo, Co-founder & CEO

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