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Profitably Redefines Small Business Analytics to Create the Finance Automation Market





Santa Clara, California (PRESS RELEASE – September 14, 2010) – Demo Fall – Profitably, a small business analytics company based in Manhattan, announced today the official launch of a new web-based analytical platform for small businesses that promises to bring finance into the cloud and revolutionize the way these businesses think about their data. Profitably has partnered with Intuit, the makers of QuickBooks, to access data securely in the cloud and to swiftly begin addressing the more than 4M small businesses in North America currently using QuickBooks.

“Small businesses are getting killed out there in this economy, and they are far too busy for traditional financial platforms and business intelligence tools,” says Adam Neary, Profitably’s CEO. “Profitably helps small business owners and finance managers understand where they are making money and losing money and what they can do about it. Dead simple.”

The launch, announced at Silicon Valley’s bi-annual DEMO conference for emerging technology, will feature a presentation by Profitably CEO Adam Neary and Founder and CTO Francis Hwang at 9:39 am PST today, and Profitably’s live stage presentation will be available at www.demo.com within 24 hours.

“One of the most meaningful developments we are seeing over the past few years is the push to bring local applications into the cloud so that users can access their information anywhere from a browser,” says Matt Marshall, executive producer of DEMO. “What’s really exciting about Profitably is that they are taking these concepts and bringing them to millions of small businesses that don’t have an IT department or a developer as CTO. These businesses have a wealth of data sitting latent on their desktops, and Profitably are poised to unlock that value for these businesses.”

The Profitably concept was born of Adam Neary’s experience helping Fortune 500 organizations grow and operate more profitably as a management consultant with leading firms A.T. Kearney and AlixPartners. The key was to unlock the value of large consulting projects and package it for small businesses. “Ultimately, we are helping to create a market for finance automation software,” says Francis Hwang, Profitably’s CTO. “Taking a broader context, your VP of Sales has Salesforce.com for sales force automation, and your VP of Marketing has Hubspot for marketing automation. We are creating a suite of tools to support a VP of Finance. Right now, all you see in the marketplace are accounting solutions, but the role of finance in a small business is much broader and grossly underserved.”

“The platform that Profitably is developing will be a quantum leap forward for thousands of small businesses, including my own,” says Shawn O’Connor, President and Founder of Stratus Prep, a graduate school admission counseling firm and Profitably beta customer. “I see new tools all the time, but Profitably cuts to the heart of a top pain point for me. I’m sold.” Over 100 small businesses have signed up for the Profitably beta program, which ends today with the product’s official launch.

DEMO Fall Information

Adam Neary, CEO and Founder of Profitably, Inc., will present the next generation of small business analytics and Finance Automation with Francis Hwang, Founder and CTO, from the DEMO Fall stage on Tuesday, September 14, at 9:39 a.m. PST.

To experience a live demonstration, visit station #49 at the DEMO Fall 2010 Conference. DEMO.com visitors will also be able to view Profitably’s live stage presentation within 24 hours by clicking on the “Watch DEMO Videos” link. For more information on Profitably, visit www.profitably.com.

About Profitably

Profitably is small business analytics, simplified. The product provides a simple and intuitive view into your QuickBooks data along with tools to drive growth and manage profitability.

Traditional financial platforms and business intelligence tools platforms are expensive and unwieldy, and can take months to set up. Profitably takes a different approach. The application connects securely to QuickBooks, and within minutes you see where you’re making money and losing money… and what you can do about it.

Founded in March of 2010, the Profitably team consists of Adam Neary (CEO), Francis Hwang (CTO), and Chad Pugh (Chief Aesthete). The team works out of the Soho neighborhood of Manhattan.

About DEMO

Produced by the IDG Enterprise events group, the worldwide DEMO conferences focus on emerging technologies and new products innovations, which are hand selected from across the spectrum of the technology marketplace. The DEMO conferences have earned their reputation for consistently identifying cutting-edge technologies and helping entrepreneurs secure venture funding and establish critical business.  For more information on the DEMO conferences, visit http://www.demo.com/.

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Marie Hernan



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