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Ben Kepes is a technology evangelist, an investor, a commentator and a business adviser. His business interests include a diverse range of industries from manufacturing to property to technology. As a technology commentator he has a broad presence both in the traditional media and extensively online. Ben covers the convergence of technology, mobile, ubiquity and agility, all enabled by the Cloud. His areas of interest extend to enterprise software, software integration, financial/accounting software, platforms and infrastructure as well as articulating technology simply for everyday users.

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2 responses to “Wave Goes Payroll”

  1. Kirk Simpson

    Thanks for the writeup about Wave Payroll, Ben. We look forward to unveiling our pricing details once we’re out of private beta. Rest assured, it will be an everything-included price that will put a smart payroll solution within the reach of the small businesses for whom existing payroll solutions don’t make sense.

    You wonder in your post whether the business model for Wave Payroll (paid) is a “tacit admission by Wave [Accounting] that offers-based monetization isn’t a sustainable model.” I’d like to make it perfectly clear that nothing could be further from the truth. We’ve just passed our first anniversary, have over 100,000 small businesses signed up, have engaged top-tier advertising partners including American Express and Dell, and we (and our investors) are very pleased at the results to date. Our business plan has been proven out to be accurate, and we intend to keep building and growing Wave Accounting with exactly the same pricing model that we launched a year ago: that is, 100% free. Not freemium, not a free trial, but free.

    Our intention from the very beginning was to expand into ancillary products when it made sense, and to evaluate a pricing structure for each one individually. A year ago we suggested that these products might be paid products, and indeed that’s how it has worked out for Wave Payroll. That’s consistent with our original plan, and doesn’t signal any change in strategy for Wave Accounting.

    If your suggestion is that having an ancillary paid product changes the core value proposition of Wave Accounting, I’d have to disagree. Only a fraction of users will use payroll, so our strategy for Wave Payroll is independent of our Wave Accounting strategy. In other words, Wave Payroll doesn’t exist to support Wave Accounting. Both are viable businesses on their own, that happen to have spectacular synergies, which is why we’re in the space.

    The point remains that Wave Accounting is unique in the market with unlimited transactions, unlimited invoices, unlimited collaborators, all in a complete double-entry accounting application, and all of that for free. Given that most of the other paid-for accounting applications don’t offer payroll of any description, I’d argue that the launch of Wave Payroll, paid or otherwise, makes the value proposition of Wave Accounting stronger than ever.

    Thanks again for covering our ongoing adventures. It’s been a great first year, and we’re thrilled to enter year 2 with Wave Payroll on the horizon. Feel free to contact us any time you have questions about what we’re up to.

    Kirk
    Co-founder and CEO
    Wave Accounting

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