The Background of SimplyWise Inc.
The story of this company is quite fascinating to me. Sam Abbas started the business out of New York in 2018 with his co-founders. A smart move. At that time, they relied on an outside vendor for optical character recognition technology. This outside service cost them nearly 40 percent of their total revenue.
Therefore, the leaders decided to build their own artificial intelligence tool in 2022. They spent about 100,000 dollars to create this new system. Money well spent. Gradually, this smart move increased their profit margins from 60 percent to over 90 percent in less than a year.
I am also impressed by the financial backing this platform has received. The company successfully raised a total of 12 million dollars over two funding rounds. They secured a large Series B investment of over seven million dollars in October 2025. Big numbers. This funding helps them serve a market of mature business owners and contractors.
Features That Make SimplyWise Inc. Stand Out
The Receipt Scanner Function
I use the receipt scanner feature almost every single day. You take a photo of your paper receipt with your phone. The app reads the document instantly. So fast. The software extracts the merchant name, the date, and the total amount perfectly.
Additionally, you can forward email receipts directly to a custom email address. The system organizes everything into specific folders for easy tax write-offs. Later, I export these organized records into a simple spreadsheet for my accountant.
The Cost Estimator Tool
My contractor friends absolutely love the cost estimator tool. You snap a picture of a room to start a bid. The app uses artificial intelligence to generate material and labor costs. Very detailed. Plus, it shows your clients a visual rendering of the finished project.
On the contrary, manual estimates used to take me hours to complete. Now, I finish a professional bid in less than 30 minutes. Similarly, the tool integrates live pricing data from local stores to ensure accurate quotes.
| Plan Type | Price | Features Included |
| Monthly Subscription | $29.99 per month | Unlimited estimates, 3D room scans, invoicing |
| Annual Subscription | $239.99 per year | All features, plus access to the receipt scanner |
I think understanding the price is very important for any business owner. This table clearly shows the value you get for your money. Though the monthly fee is around 30 dollars, the annual plan drops the cost to about 20 dollars a month. A solid bargain. I prefer the yearly option because it includes every feature without any hidden upgrade fees.
Comparing SimplyWise Inc. to Competitors
I have tried many other platforms before settling on this one. I used Expensify for a while to track my spending. I found it confusing and hard to navigate. Too chaotic. On top of that, Expensify charges per user, which adds up quickly for a small team.
I also tested various construction estimating tools like Joist and Jobber. Joist locks basic features like accounting sync behind higher paywalls. Very frustrating. SimplyWise Inc. gives you full access to everything on day one.
| Application Name | Starting Cost | Key Strength |
| SimplyWise Inc. | $239.99 per year | Artificial intelligence receipt scans and instant project estimates |
| Expensify | $5 per user monthly | Corporate card tracking and global reimbursements |
| Joist | $8 to $32 per month | Basic manual estimates and invoicing |
Let us look at a direct comparison between these applications. This comparison proves why I made the switch to the newer platform. Finally, I have an all-in-one system that handles my expenses and my project proposals. Total relief. The time I save translates directly to more profit for my business.
FAQ’s
What exactly does this software do?
This platform provides artificial intelligence tools for contractors and self-employed people. It scans paper receipts, creates construction estimates, and tracks business mileage. All in one place. The software removes the need for manual data entry.
Is SimplyWise Inc. safe to use?
Yes, the application is highly secure for your financial data. The company uses 256-bit encryption to protect all your stored documents in the cloud. Bank level security. I feel completely safe linking my accounts to the application.
Does the company offer a free trial?
Yes, you can try the cost estimator app for free. The company offers a seven day free trial for new users. Zero risk. You gain full access to all features during this test period to see if it fits your workflow.
Conclusion
In conclusion, managing a business requires the right digital tools to succeed. I highly recommend giving SimplyWise Inc. a try for your daily operations. Trust me. It reduces administrative stress and helps you focus on generating revenue. The application is simple, effective, and completely reliable for mature business owners.