Pulsoo Qorus-Infosys Finacle Banking Innovation Awards 2024

Pulsoo originated from the recognition of a significant gap in the Portuguese market, aiming to comprehensively serve SMEs, sole proprietors, and self-employed professionals.

In Portugal, the market landscape is primarily composed of approximately 300,000 SMEs, with the vast majority, roughly 250,000, generating less than €0.5 million in revenue annually, highlighting the dominance of small and medium-sized enterprises. Notably, 66% of these businesses maintain accounts in various banks, showcasing a diverse financial ecosystem. Annually, Portugal witnesses the birth of around 40,000 new companies, alongside 15,000 closures and 2,500 declarations of insolvency. Despite a growing awareness of the challenges faced by SMEs nationwide, there remains a noticeable scarcity of specialized offerings tailored to their unique needs. Internationally, there is a burgeoning interest among specialized players in providing solutions for SMEs. However, entrepreneurs in this sector grapple with numerous challenges, including a lack of comprehensive financial visibility, tools, and knowledge for effective planning. Additionally, they face difficulties in understanding customer consumption patterns, navigating bureaucratic obligations such as compliance and tax requirements, and often lack proficiency in financial literacy and digital presence.

Pulsoo is a revolutionary financial management app designed to meet the unique needs of small and medium enterprises (SMEs), sole proprietors, and self-employed professionals in the Portuguese Market. In essence, Pulsoo acts as a comprehensive 360º SMEs ecosystem, harmonizing two critical components in daily business operations: financial management and regulatory compliance. It stands out as the first app in Portugal to seamlessly integrate these elements, offering users a solution that simplifies financial processes and enhances regulatory visibility.