Corey and I started BBC Easy in 2010 to help streamline the Borrowing Base Certificate process. The process which requires lenders to spend hours reviewing financials submitted by businesses, and requires that businesses take hours to gather and report financials to their lenders.
In solving this problem, we created technology that is amazing at gathering financials from small and medium sized businesses. It's also amazing at providing lenders with financial insights that they've never had before. And it all happens in less time and with less effort for the business and the lender.
Since then, we've expanded to also provide financials to investors that invest in companies. And to business owners that outsource their accounting and CFO roles. And even to Crowd Funded companies and crowd investors that are looking for more clarity in their businesses. And in each of these new areas, it's no longer a Borrowing Base Certificate that is the main pain point. It's now all about financial clarity. Financial reporting ease. Financial insight.
So this week we took the step to let the world know that we do more than just automate Borrowing Base Certificates. We also automate financial reporting for any person or institution that is interested in knowing the financial situation of a small or medium sized business.
We're very excited about this change and look forward to additional audiences realizing the benefit of Finagraph.