fiskl review

Fiskl Review And Overview – Your Business’ New Best Friend

Fiskl Overview

Born on the idea of making your business more manageable, the burst of mobile SaaS products to manage the finances of your business are growing by the minute. But if handling your finances has been your major pressing point up until Now, bid your troubles goodbye, all thanks to Fiskl.

Founded in 2014, in London, England, the company is changing the face of how businesses can handle finances in the modern-day and age. 

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Built by entrepreneurs for entrepreneurs, Fiskl utilizes advanced level data recognition and extraction technology along with automation to empower and small scale businesses to full-scale empires to efficiently manage their financial and administrative tasks.

With its rich templates along with avant-garde mobile application usage, the fully encrypted and secure storage solutions make sure that privacy is kept at paramount considering the sensitive nature of the data. 

Furthermore, if you want to take the management to the big screen, that can also be arranged as Fiskl allows operation across devices as well, ranging from your tablets, laptops, desktops, and pretty much everything in between. With this kind of flexibility, Fiskl has tried to live up to the fact of flexibility and handling your business on your own terms. 

Who is at the Helm of Fiskl?

Fiskl is the brainchild of Shawn Vader, a long-term software technologist, and connoisseur and Alina Lapusneanu, who is the brains of this operation. 

Shawn has had ample experience as a techie and has designed and built tech products from scratch and scaled them up from pure true grit and intellect. 

Fiskl Founders
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Alina has been a strategist in all her years of experience and has also given several TEDx talks on her years both as an entrepreneur and as a strategist. 

Both of them also have a third partner who handles the products part of the business, Monica Burian. She is the financial brain of Fiskl and helped to bring the product to life from her immense work experience as a Tax Consultant and a project manager in her illustrious past. 

What makes Fiskl so useful?

Now, while we might have been rambling on about Fiskl’s prowess and importance in the real world, it’s best if you yourself see its capabilities. The following are the core competencies and services that the platform offers:

Invoices

Generating and tracking invoices for the and from the business. Fiskl does outbound invoices along with demarcation between pending dues and advances paid. 

Fiskl invoices dashboard
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Payments

Any and every payment made and incurred can also be managed and added to the platform to help you track exactly when and where expenses were incurred. 

Quotes

For those window shoppers who just want to know what your costs are for providing your services, this little feature comes in handy to generate quotations, complete with your taxation details and what Not. 

fiskl quotes
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Products & Services

Keeping track of your products, services, along with how much revenue each product is bringing in, and their associated inventory, all is taken care of. 

fiskl product and services
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Expenses

Being a business, expenses will never leave your back. Ranging from employee salary to purchasing that new office space, or office supplies, everything is an expense. And hence, with Fiskl’s expense manager, all of that can be tracked very easily. 

fiskl expenses tracking
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Banking

Expenses are directly related to your bank account, and hence, adding your bank account to the platform for a good measure will also allow you to stay in touch with what kind of “bank balance” your business holds in the present day.

fiskl banking dashboard
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Time

In the business world, it is often said “time is money.” Fiskl understands the importance of this statement and hence also allocates time needed and time spent on the various products and services of your business, hence keeping you apprised of any deadline to deliver the project is just around the corner. 

fiskl time dashboard
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Mileage

Travelling to expand your business can also be tracked and hence you can also see how many miles you have covered throughout a set period of time. 

fiskl mileage dashboard
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Team Permissions

Great businesses come from great teams. And great teams are often relentless in their pursuit of greatness. But now and then, they may need to run some things by you, and hence, even if you are not able to answer their call or be there in person, Fiskl will cover for you and allow you to grant them permissions even if you are 5000 miles away. 

Integrations

Like any other financial management product, Fiskl seamlessly integrates with all of your pre-laid systems and offers you a world of comfort.

Dashboard

The dashboard is your one-stop-shop for getting access to any part of your business without ever causing you the hassles of going through tedious processes even for an easy job. One-click and you are done.

fiskl main dashboard
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Reports

Generating year-end reports of your financials, and in-depth reports about where you spent your money and what allowed you to bring in the most revenue and were the key markers of their growth, all of this can be done with the click of a button.

Accounting

Need an accounting solution to easily manage your bills and handle? Accounting will be available from Q1 2021.

One-Touch Access Library & Client List

Sometimes, it also comes in handy to see who and where your clients are. Thankfully, the one-touch access allows you to see where exactly your clients are from.

fiskl client dashboard
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Automated Currency Conversion

One of Fiskl’s strong suit as a financial tool is its affinity to be multilingual and multi-currency. The platform works with 150+ currencies in over 60 languages and hence, you can easily convert one currency to the other to allow for ease and comfort of checking your account logs.

Secure & Encrypted Regional Storage

Every account comes with a secure and encrypted storage system that will keep your business and its data protected for the years to come and prevent any malicious attacks from happening (at least as the brand claims).

With features like these for handling a business, it seems like they have taken the game of the top players, made it better, turned it into a full-blown battler, and taken the fight to their gates for an all-out battle for glory. 

Who are their biggest partners?

Despite having just 6 years of experience under their belt, Fiskl has managed to make enormous waves in its segment and has reached levels where the biggies like Samsung are choosing them as the financial SaaS tool of choice. The brand’s biggest partners besides the South Korean conglomerate are:

fiskl partners
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With clients and partners like Vodacom, Samsung, and InGram, you can rest assured that your details are not going anywhere else as privacy is a matter of grave concern for brands like these. 

How to get on the Fiskl Bandwagon aka the Onboarding Process

Like their quick and nifty offering, the onboarding process is just as easy. Fiskl offers a limited free account up to 7 clients to be able to get familiar with all the Fiskl features. You can choose to upgrade at any time if you need more clients or additional features. Both of the buttons to activate either of the processes of registration are on the top right corner and also front and center. So depending on where you fancy, you can go there. 

Click on the start for free button, and you will be redirected to a page that looks like this:

Fiskl signup
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Here you get to choose which method to choose to sign up and get the ball rolling. We would personally recommend you choose the Google account method in the absence of the Apple account simply due to the fact that it will be easy and convenient and you won’t have to go around writing your details all over again to set your account up.

But if you do want to use your own email address, the process is still very easy. There is Not a whole form in place, rather carefully and meticulously designed minimalist touches to keep things easy and on point. The first step is to type your intended email address to use:

fiskl login
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Once that is done, you will be graced with the next screen to choose your password, where you will have to put in a mixed case, along with one symbol and 1 number in the password. The screen will look something like this. 

fiskl onboarding
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Once you are done with that, press the Sign Up button and you will then have to follow in further to the next screen where you will have to enter your company name. A great touch is that the website automatically chooses the name by reading your email address, which is alterable by the way. 

setting up fiskl account
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Once you enter the company name, you are all set to roll and get on with your task of managing your finances. Immediately after you press the Register button, you will be redirected to the dashboard of the app which will have different menus on the left side and the rest of the controls on the other side of the screen. 

fiskl main dashboard
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Almost instantly, you will also be welcomed by the following screen which will ask you more in-depth information about your business and its city to help understand the taxation structure overall and help manage the finances in a much better way. 


FACT: Fiskl operates for 150+ currencies in over 60 invoice languages, so you can pretty much rest assured that your chosen currency will damn well be there. 

entering company details in fiskl
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You will also have to set up your very own payment acceptance gateway by linking your business account so that any and every payment made through Fiskl’s payment gateway is wired through to your account, minus a small platform fee. Fiskl supports all major car carriers like Visa, Master Card, Maestro, Amex, etc. and then some. So as long as you stick within these, you are safe.

Fiskl Competitor Analysis 

Though Fiskl is a fairly new player and a nascent entrant in the business financials market, they have clearly proven that a winning idea and frugal beginnings are more than enough to get the job done efficiently, and yet be adequate to instill hope in the users and investors alike. 

Fiskl has been funded by Angel Academe, London, and Dubai Angel Investments, and hence, without increasing their workforce and expenses, they have managed to go undaunted to face the well-known competitors of the trade. The following is its comparison with some well-known platforms of the arena:

 FisklFreshbooksWaveSquare InvoicesXeroZoho BooksQuickbooks
Powerful mobile, tablet & web applications to run your small business w/ full features on all appsYesLimited features on mobileLimited features on mobileYesLimited features on mobile and web. Additional apps needed (at extra cost)Separate Zoho apps needed to achieve the same feature set. Limited mobile featuresLimited features on mobile
Create, preview & email beautiful customised invoicesYesYesYesLogo Upload OnlyYesYesYes
Over 150 supported currencies w/ automated, live exchange ratesYesNo live exchange ratesNo live exchange ratesNoOnly available on Premium subscriptionYesNo live exchange rates. Only available on Essentials and Plus
60 invoice, quote, and payments languages built-in plus add your own custom invoice/quote languageYesNoNoNoNoNo preset languagesNo
Recurring invoicesYesNot on Lite planYesYesYesYesYes
Invoices and estimates with status trackingYesYesNo estimatesYesYesYesYes
Payment integrations (Stripe, PayPal, Apple Pay, Google Pay, Ideal, ACH, and Fiskl Payments powered by Chase/WePay)* available in supported countriesYesFreshbooks & Stripe onlyLimited to North America Wave does Not support EU SCAOnly square paymentsOnly 3 payment gateways Stripe, Go Cardless, PaypalYesPaypal, Quickbooks Payments (Only available in the US) GoCardless (for direct debit) (US and EU)
Send invoices via email, WhatsApp, Telegram, iMessageYesEmail-onlyEmail-onlyEmail and linkEmail and linkEmail-onlyEmail and Whatsapp
Intelligent expense management (using mobile live scanning & instant automated data extraction to process receipts)YesNoNoNoNo live scanning/data extraction. Additional fees applyNoNo
Fully featured iOS, Android, iPad, web appsYesNoNoDashboard Not available on mobileNoLimited features on mobileLimited features on mobile
Banking integration (with reconciliation)Yes/ 6000 banks in over 70 countriesNorth America and the UK only-NoLimited to 20 bank transactions on the Basic planYesYes
Built-in, easy-to-use timer w/ quicksave functionality lets you track from anywhereYesYesNoNoOnly available as an extra: £5 for 1 user / month + £5 for each additional active user / monthNoNo
Mileage tracking integrated w/ Google MapsYesNoNoNoNoNoMobile-only
Useful graphs & reports showing your profit and outstanding revenue right from your home screenYesYesYesDashboard onlyYesYesYes
Tasks & Calendar w/ NotificationsYesNoNoNoNoNoNo
Products & Services catalogs to speed up invoicingYesNoNoUncategorized items onlyNoNoNo
Client management, with payments status graph per clientYes-No client statusClient status graphsNo visual graphsYesYes
Scheduled and partial payments plus payment recordingYesYesNoYesNo payment schedulingNo scheduled or partial paymentsNo
Team feature level permissions, with admin and accountant accessYes$10/personNoNoLimited permissionsYesNot available on Simple Start (Basic plan)
Dashboard to keep your finger on the pulseYesYesYesWeb-onlyYesYesYes
Chart of Accounts and Ledger EntriesLive in SeptemberNoNoNoNoNoYes
Financial StatementsLive in SeptemberNoNoNoNoNoYes
Custom company domain for client emailsYesNoYesNoNoOnly available on the highest plan: “Professional”No
Continuous access to uploaded financial data in case of subscription downgradeYesNoYesNoNoNoNo
Chrome extension for invoices and expensesYesNoNoNoNoNoNo
All tax types supported (multiple, compound and more)YesCompound tax onlyNoNoYesYesSpecific countries only
Custom tax categoriesYesYes-YesYesYesYes
Custom expense categoriesYesYesNoNoYesYesYes
Live chat supportYesNo$9/month support chatNoNoNoNo/ phone support
Integrations (Zapier etc)YesYesYesNoYesYesNo/Not on Self Employed tariff
Pricing in your local currency (to save on exchange rate fees)YesUK, US, and Ireland only-Only for 3 countriesNoYesSpecific countries 

Essentially, if you look at it, Fiskl has taken all the pain points of all the other VIPs of the segment and obliterated them one by one. With this kind of approach, it is more than easy enough to choose wisely why Fiskl is the one to go for. Like its investors, all of its customers are also all praises. 

Pricing Structure

To keep things interesting and yet make sure even the ones who are on a tight budget can get the best of the platform, Fiskl has meticulously and thoughtfully provided 5 levels of pricing. The best part is that they have watched out for the little guy as well and kept the tier wise pricing very aggressive. The following are the tiers you will get:

fiskl pricing
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Free- $0/month – 1 user 

This plan is perfect for the newbies to businesses who are just starting out and have a small number of clients to work with. Limited to 1 user, this plan is free forever, and you can only generate 5 invoices in a month along with Fiskl Payment and Stripe payments only. 

Solo- $7/month – 1 user

Now, that your business venture has started to pick up, you will be attracting more clients by the day. So, to keep up with your growing business, a solo plan will suit you just fine. At just $7/month you can now tap into the unlimited of everything and get the best of Fiskl at your fingertips.

Plus- $16/month – 3 users

It’s been some time in business now, and now you are starting to add folks to your operations to keep pace with your growth. So, you can start to hand some part of the reins to your partners with the Plus plan with $16/month and get up to 3 users in the account and also have live sessions with an accountant, make sure your logbooks are clear.

Pro- $20/month – 7 users

You are now someone who has started to achieve new paramount in the business world with every passing day. Your company is turning into a rising tide, and hence your finances are getting more and more daunting. Fret not, the Pro plan allows up to 7 users to handle those finances and yet costs just $20/month.

Prime- $24/month – 10 users

The journey has been long, but a fulfilling one. You have seen your own ups and downs, but it was all worth it. Your conglomerate is becoming what you always wished it would be. A high-turnover international conglomerate. Hence, those expansion plans mean rising finances.

Thankfully, Fiskl has still got you covered. With $24/month and the provision to add up to 10 users, you can keep tabs exactly on where your money is going, and that too in over 150 currencies. 

So whether you are just planting the seeds of your business or reaping the fruitful benefits of your hard work, Fiskl will be by your side holding your hand through thick and thin and making sure that you are in control of your finances, and not the other way around.

Customer Support

The viability and greatness of any product, platform, or service lies in one aspect and one aspect only. Customers. If your customers are happy, they will bestow their trust on you, keep coming back, and maybe even bring more business to you.

A happy customer will tell someone 3-4 people and that too only when asked about the product, but an unhappy customer will tell 9-10 people and that too without even instigating a conversation. 

So, though negative marketing works three times as fast, it is best to let it be used by the paparazzi and not stake your business on it. To that avail, Fiskl has made sure to keep its customers happy and satisfied at all times. To resolve all queries pertaining to any and every matter, the platform provides three ways:

  • Live Chat Support
  • Emails
  • Support Form

The Live Chat Support is only for registered users and hence, you cannot use that if you have not signed up yet. But for the others, you can go to https://fiskl.com/support/contact/. When you open this link, the following screen will appear:

fiskl customer support
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While the support and sales team email addresses are provided, you can also contact them using the support form given below these addresses, highlighting your queries and apprehensions. 

contact fiskl support
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Fiskl understands the importance of swiftness in today’s world, and in either case, they will respond to you in under 24 hours on any given business working days, i.e. Monday to Friday. If you drop an email over the weekend, you will probably have to wait out the time till Monday to get a response. 

In a way, this is efficient and very respectable that they appreciate a good work-life balance in both their approach to business, and promote it to its users as well. 

Final Thoughts:

Overall, your business’ finances are in safe and capable hands when you are using Fiskl as your management tool. The founders have gone on to prove how a simple yet efficient offering in the world of finance which brings the user to the driver seat is what the people want as their hand-holding partner for the long term. 

So, we would definitely recommend you get a Fiskl account if you are starting out on your entrepreneurial journey. 

Happy Hustling!

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