MEDICI Now! The Peace Of Mind (POM) Story

September 8, 2017     By : Enrico Giuseppe Muni

MEDICI Now! Startup Stories highlights the companies that are shaping the new financial technology industry. So, keep an eye out each week for new stories! If you think you or someone you know should be highlighted, send us a note. Without further ado…

Company Name: POM – Peace Of Mind

Name/Title: Johannes Vermeire, Co-founder & CEO

Industry Segment: Invoice digital management

Target Market(s): Global

LTP: Please tell us about yourself.

Johannes Vermeire: My name is Johannes Vermeire, and I’m the CEO and co-founder of POM. Back in 2014, my co-founder Tom Totté and I were looking for a mobile solution to reduce the burden of household administration. Finding none, we created our own.

LTP: Give us a paragraph pitch for your company.

Johannes Vermeire: POM is a personal mobile admin assistant that enables you to receive, pay and archive invoices (and other paperwork) digitally, whenever and wherever you like it.

POM was built starting from the user’s reality, which is receiving invoices from many different sources (paper, PDF, through a customer portal, etc.).

To achieve this reality, the POM app has 3 main functionalities: it scans paper invoices, forwards PDF invoices and receives invoices in POM from connected suppliers directly. OCR technology extracts the necessary payment data, so it is no longer needed to retype the information into your banking app. Within POM, invoices are paid with only a few taps.

POM stands for Peace of Mind, and that is what we want to bring to everyone’s invoice administration.

LTP: In a sentence or two, what problems are you solving today?

Johannes Vermeire: We all spend too much of our free time on paying and organizing our bills. And suppliers spend too much time and money to collect their money. POM resolves this by allowing you to pay any kind of invoice on your phone, wherever you are, whenever you want.

LTP: Who are you selling to?

Johannes Vermeire: Big volume billers are our main customers today. They pay per invoice via the POM app. To date, we have secured over 30 paying customers in a variety of sectors like energy, insurances, government, education, healthcare, and professional services (payroll administration).

Apart from the billers, the banks are also a source of income for us. Those who integrate our functionality into their banking apps pay an annual license fee per user.

LTP: How does POM differentiate itself from competitors?

Johannes Vermeire: A number of arguments lead us to believe POM has a more competitive advantage that its direct competitors:

  • POM is the only app integrating the complete incoming invoice cycle (covering the whole process – from the reception, the payment, archiving to sharing – for any kind of invoice: paper, PDF or via connected senders).
  • We are the only one focusing completely on the added value for the user (instead of being focused on the benefits for the companies that send invoices).
  • We’ve added features like Google Drive and Dropbox filing, recommend to your friend, and a very attractive UI to make the experience of processing invoices more enjoyable (and in delivering peace of mind to our users).
  • We truly embrace the possibilities of today’s and tomorrow’s mobile devices.
  • We offer a 1-tap-pay experience through mobile (avoiding complex login & validation procedures).

LTP: What is your next milestone?

Johannes Vermeire: We are planning to launch a pro version of POM (monthly subscription model) for freelancers and SMBs offering administration automation and advanced mobile payment methods. We will also be expanding our operations to 3 other countries in Europe.

In addition to those 2 major projects, we will be gradually improving the user experience and the functionalities of the basic POM app. To name just a few, we will lower registration barrier by offering Facebook sign up, optimize the process design to be able to provide PSD2 payments, and apply AI on our data extraction tools.

Thank you, Johannes!

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Enrico Giuseppe Muni

Intern - Supply-Side Acquisition at MEDICI (Powered by LTP)
Enrico currently majoring in Management at Bocconi University. He has a keen interest in strategic decisions and marketing techniques. Enrico is involved in the Supply-Side Acquisition Division at MEDICI (Powered by LTP) as an intern.

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