PORTLAND, Ore. (Ivanhoe Newswire) — Starting a technology business is challenging. Starting it as a woman in an industry that is run mostly by men can be overwhelming. That’s exactly what Nvoicepay co-founder and CEO Karla Friede did back in 2009. She and her partners found success, and she’s happy to share the practices that worked for her.
Friede’s Nvoicepay started helping companies pay bills electronically almost ten years ago.
“So what we do is we transform that into a really simple automated process where they can pay all their payments electronically and still have the control and visibility and trace-ability they need for their payments.” Said Friede.
With the cloud-based payment software, companies can go paperless, significantly reducing costs. Nvoicepay has more than 27 hundred clients and pays 300 thousand suppliers every day, including truck and trailer dealership, TEC equipment.
TEC Equipment CFO and Nvoicepay client Gina walker said, “We would do about 300-500 checks a week, and I would literally hand sign every single one of them.”
Walker says the software greatly reduced her workload. And she’s thrilled to support a woman-run company.
“It wasn’t just about selling that product, it was about selling a relationship between women, which you don’t see very often, a great opportunity to explore.” Walker told Ivanhoe.
Friede sought out venture capitalists who were comfortable with women as she marketed Nvoicepay, looking for that connection.
Friede explained, “If they had women in their firm, if they had women partners, if they were used to working with women, all these things made it easier.”
She’s also big on having partners with different skill sets.
“We came together, and we’re a much stronger team. It makes it tough because you don’t always agree, but we get to a better result when you have people that think differently, but are committed to the end.” Friede said.
And maybe most importantly, she says keep your eyes on your product.
“Focus on what you’re doing and the solution and the customer. Great customer results will overcome.” Friede stated.
Friede also says it’s critical to know your market of buyers and backers who understand what you’re offering and how it can help their bottom line. She’s used these principles to grow Nvoicepay, and expects to have close to 150 people working for her this year.
Contributors to this news report include: Wendy Chioji, Producer; Rusty Reed, Videographer; Jamison Koczan, Editor.
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