Everlance, a mobile software startup launched this year out of Stanford University, has released a new Everlance App the company hopes will make tracking expenses and mileage as effortless as a single swipe. Everlance has grown quickly through word of mouth and is already logging over a million miles a week for its users.
The Everlance app works by using a proprietary algorithm that automatically detects and records car trips while running silently in the background. By using data from your smartphone’s GPS, geofencing and other inputs, the startup has created a way for users to record their business mileage without having to use a cumbersome paper mileage log or having to remember to hit “start” on a mileage tracker.
“Our users tell us that they love the set-it-and-forget-it method as Everlance not only cuts down on paper work but turns miles into real money at the end of the year,” Everlance’s Founder and CEO Alex Marlantes said in an interview with Small Business Trends. “For independent contractors such as Lyft drivers or more traditional freelancers such as artists and real estate agents every 1,000 miles driven for business purposes is worth $575 as a business related deduction.”
Unlike some of its competitors that charge users on a monthly or yearly basis, Everlance is free. In addition to tracking mileage, the Everlance app also allows users to record other business related expenses such as client meals, cell phone bills or business equipment.
According to Everlance, benefits to users include:
- Earning more money: As Marlantes explained, mileage can turn into real money for your business with every 1,000 miles representing $575 in deductions,
- Saving time: Everlance automatically tracks miles and other expenses–simply swipe to categorize,
- Backing up your data: Your data is stored safely in the cloud
“Today we’re announcing our biggest update since creating the product. We’ve completely redesigned the app based on user feedback and we’re excited to see what folks think about our new live trip cards and the ability to quickly toggle on and off something we call work mode, which gives the user the control to have the Everlance app only track their miles during a specific shift or work day. We’re also continuing to make improvements to the automatic tracking algorithm,” Marlantes added.
The Everlance app is designed for small business owners and independent contractors who wish to keep track of their expenses and save some money while at it.
Image: Everlance, Apple App Store