Lincoln-based app developer Innovosys has built upon its trade business app thanks to funding secured from Lincolnshire County Council’s ERDF-funded business growth and innovation support programme, BGI Lincolnshire.
Innovosys is the company behind Trade Clients – a multi-platform invoicing app for tradespeople that allows users to manage a large portion of their business admin from a smartphone or tablet without the need for a home computer.
Following several years of development, the Trade Clients app for iPhone, iPad and Android was officially released in November 2014 and attracted 400 registered users within its first year. The app is free to purchase for users that generate up to four invoices per month and £5 per month for unlimited use.
Tom Whittaker, managing director of Innovosys, said: “As a start-up, cash flow is almost always an issue. For us, we were in a difficult situation in which we needed more money to make the app better while needing to make the app better in order to raise more money. A real catch 22.
“After hearing about BGI Lincolnshire through Greenborough Management, who are based in the same building as us, we decided to get in touch and find out more about the support and funding they could provide.”
Innovosys was awarded a £4,550 grant to fund the development of new features within the app, including the ability to create customisable invoice templates. A quick invoice function was also added, along with updated analytics functions.
Whittaker added: “Without BGI’s grant support, we might not have ever got to where we’re at now.
“Since we’ve added the new features and done a bit of promotion, we’ve seen an uplift of 20% in user engagement, along with a 50% drop in cost of acquisition, which is fantastic.
“Our goal has always been to keep our customers happy and continue building our user-base, which is exactly what we’re on track to do. The new functions we’ve added have helped get Trade Clients to the point where we can apply for crowdfunding to raise money so we can further build the app and then market it to a wider audience than we’ve been able to up to this point.”
Russell Copley, director with Greenborough Management, one of BGI Lincolnshire’s support providers, added: “Innovosys is a perfect example of how a small business can achieve growth with just a little bit of help.
“By adding several new features to Trade Clients, Tom has already started gaining more users and is in the process of further enhancing the app in hopes of bringing it to a wider market. Within a year, I think it’s safe to say that Innovosys and the Trade Clients app will be yet another fantastic Lincolnshire small business success story!”