Qvinci celebrates its 10th anniversary this month highlighting a story of perseverance that would make Thomas Edison proud.

It is an understatement to say the company has come a long way since Charles Nagel and three employees set out to create a first-of-its-kind financial reporting solution in a cramped office in San Marcos, Texas.

The Qvinci story began in 2006. Nagel, a turnaround consultant helping underperforming businesses to become profitable again, realized his clients all shared a common problem. More revealing was that while working with the owners of these businesses, few realized they had this problem.

He also knew he could do something about it – a solution could be created.

“Without exception, my clients would have been more successful if they’d had better visibility into their financials,” said Nagel. “They were not accountants. They were business owners and there really was no way for them to easily digest financial data, so they could make better business decisions and operate more efficiently.”

The market doesn’t exist for new and innovative

After conducting some preliminary research and development, Nagel launched his enterprise at the end of 2007 believing accountants would use Qvinci’s financial reporting software to provide better advisory services to their business clients.

Like many start-ups during this phase, the company almost immediately ran into its first major obstacle. Accountants were so entrenched in their traditional business model, few were proactively offering advisory services of any kind.

“The problem we ran into was getting accountants to understand why our product mattered to them as they were not advisors back then. It was all classic shoebox accounting. Qvinci was still reasonably successful, but it was obvious we had arrived  at the  market early. We were way ahead of the curve,” he said.

It wasn’t until 2011 – when web-based services like online banking were becoming more commonplace – that accountants began to understand their clients’ expectations were changing.

The too early bird doesn’t get the worm

Nagel also understood the impact the internet would have, and he immediately ordered his team to stop working on Qvinci’s desktop product in favor of a web-based version.

“It took us a while to develop a product for the web without losing any of the features that were on the desktop version. It was tough because we essentially had to start from scratch, but I was confident it was the right direction,” Nagel said.

Time has proved him right but back then, it just created another problem, albeit a familiar one. Again, Qvinci was first to market and again, few people knew what to do with it. Fewer still were comfortable using the internet for anything to do with money.

“Being first was a blessing and a curse. On the one hand, we were able to get our patents through relatively easily because nobody else was doing what we were doing,” Nagel said. “On the other hand, we found ourselves back in a position where we had to wait for the market to catch up. It was touch and go there for a while.”

As the internet continued to gain acceptance for financial activity, Qvinci carved out a niche for itself providing cloud-based financial reporting, data consolidation and business intelligence mostly to franchises and multi-unit organizations. By 2016, it began making inroads into the accounting market.

An overnight success … a decade in the making

According to CEO Brad Adams, it’s taken a decade of hard work, perseverance and belief to make Qvinci an overnight success.

“We’re gaining some serious traction now that accounting firms, franchises and multi-unit organizations are starting to understand what Qvinci can do for them,” Adams said.

“It appears the market is finally ready for what Qvinci offers and with all the capabilities we have planned for release in 2018, I believe we’re on the verge of big things,” said Adams.

“I’m very excited about what the next 10 years has in store for Qvinci and our valued customers.”


About Qvinci

Relied on by accounting firms like BDO USA and franchises like Orangetheory Fitness, Qvinci’s mission is to develop and patent best-in-class, near real-time cloud-based financial data consolidation, reporting, business intelligence and workflow management solutions for the accounting, franchise and multi-unit business markets. Qvinci empowers decision-makers and their advisors with secure and automated ERP-like features and functionality that is cost-effective and easy-to-use. Qvinci is unique in its ability to support a wide range of accounting software including QuickBooks, Xero, MYOB and Excel and can be customized to support numerous other accounting files and systems. Qvinci has been producing award-winning financial reporting solutions since 2007. It is the #1 rated reporting app in the QuickBooks App Store and has been the Intuit Franchise Program’s reporting partner since 2011. To learn more about Qvinci’s industry-leading solutions, click here register for one of our weekly interactive webinars or visit our website.

  • 2007 — Company launches as QuickDash

  • 2008 — Changes name to Qvinci Software

  • 2009 — Wins “Awesome QuickBooks Add-On” award

  • 2010 — Partners with Right Networks and Uni-Data

  • 2010 — Signs first enterprise franchise agreement with The Dwyer Group

  • 2010 — Moves from a desktop to a cloud solution

  • 2011 — Named Intuit Franchise Program’s Reporting Partner

  • 2014 — Added to QuickBooks App Store

  • 2014 — Gains ProAdvisor Recommended status

  • 2015 — First United States patent awarded

  • 2016 — 2nd Generation platform launched

  • 2016 — Industry-specific solutions released for the accounting, franchising and multi-unit markets

  • 2016 — Second United States patent awarded

  • 2016 — Becomes #1 reporting app in the QuickBooks App Store

  • 2017 — Signs first enterprise agreement with BDO USA

  • 2017 — Elliott Davis, Moss Adams, Rehmann, Wipfli and other top 300 accounting firms sign enterprise agreements

  • 2017 — First international patent (Australia) awarded

  • 2017 — Launched GL Access capabilities furthering the operational efficiencies realized by customers