Two years after revealing that he and a team were preparing to launch a new startup — former Lions rugby player Dylan des Fountain’s app finally went live today.
At a launch held this morning at WorkInProgress, Absa’s innovation lab — Des Fountain, together with his wife Joy (the former CFO at M&C Saatchi Abel) — unveiled Slipztream, an app and desktop platform that allows users to easily snap, upload and submit expense claims instantly for approval.
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The two said they have invested R1.2-million to develop the app, which helps firms to capture staff expense claims.
The app uses Google’s Cloud Vision Technology which allows information from scanned slips to populate an expense claim. Claim approvers are then able to approve and reject claims through an online dashboard eliminating the hassle of keeping receipts and the need to capture manual claims.
Dylan des Fountain and his wife Joy have invested R1.2-million to develop the Slipztream app
The two claim that firms can save thousands of rands a month on administrative costs. For example a firm with about 150 employees each with an average annual salary of R360,000 that handle 1000 claims in all per month could see savings of over R326,000.
Almost two years ago to the day, the former rugby player told Ventureburn that he planned to launch the product later that same year, following the initial testing (see this story).
He told Venturerburn today during the launch that the delay was due to the startup having changed technology partners 14 months ago. The new technology partner Wixel Technology, is run by Sean Nieuwoudt and Beverley Merriman and has taken an undisclosed equity stake in the startup.
Joy Des Foundation said the plan is to now integrate the app with existing accounting software, link the app to Google Maps to allow mileage to be tracked and allow the platform to import line items from banking platforms which will allow for a line-by-line recon of personal and business items.
The former rugby player revealed that the ultimate aim is to get the platform and app to integrate with point-of-sale (POS) systems.
He said the savings to be made for retailers by allowing for paperless receipts is massive. For example, he said one major retailers spends about R80-million a year covering the costs of printing receipts for clients.
If the duo get this right they may have a real match winner.
The cost of using the app ranges from R49 a month for individual users (such as freelancers) to R99 per user for organisations with under 50 people, thereafter the user costs increase in line with an organisation’s staff numbers.
Involved in more tech startups
Dylan des Fountains revealed to Ventureburn today that he’s also involved in a number of other tech startups.
He would only mention the name of one, MyFanPark which allows fans to receive video messages from local sports stars and celebrities via messaging platform Whatsapp. He did not reveal who his business partners are in that startup.
The platform takes 25% of any fees paid to sports stars and celebrities when they record messages for fans at usually about R300.
Des Fountain said the startup launched three weeks ago and has already been well received, with comedian Casper de Vries proving a popular choice for many.
He said for example fathers can use the service to send a video clip of their son’s favourite sports star before their son is about to play a big match.
Expect to hear more then from the former rugby player.
Featured image: Slipztream founders Joy and Dylan des Fountain (Stephen Timm)