MakersHub co-founder Phong Ngo knows a thing or two about managing the books at a manufacturing business. Previously Phong was President of the industrial automation company General Plasma.
Phong at the impressive 6.5M m2/yr automotive & airplane glass production facility
Phong at the 75MW CIGS solar web production facility
Overseeing 500K units/yr of anti-reflective overlay for iPhone pilot production
When he was at General Plasma, Phong had a CFO, Accounting Manager, and even 3rd party accounting help - despite all of this, the books were never quite accurate or complete. When Phong asked for cash flow projections or job costing reports, it would take several days to pull the data together and multiple spreadsheets. The problem always boiled down to inaccurate and incomplete data entry. Invoices weren’t entered correctly, coded to the right buckets, and data was missing. Manual data entry is often done incorrectly or half-heartedly. Phong realized you couldn’t get mad at your team for not following tedious GL and accounting code processes. The reality is that it’s overwhelming and mind-numbing to face an inbox full of invoices every day. Everyone knows that understanding your business drivers is crucial to success. You should, of course, know your cash flow cycle, COGS, and margins. However, most business leaders face a fundamental data analytics problem - the data going into the system is often unreliable. This ongoing frustration led Phong to create MakersHub, the tool he wished he had all along at General Plasma. At its core, MakersHub is about capturing data and utilizing it in a meaningful way in the accounting system. The benefit is many hours of saved time, hugely reduced manual effort, and deeper, more accurate business insights. MakersHub is made by industry insiders, specifically for industrial use cases. That focus allowed us to build the best accounts payable tool on the market uniquely serving industrial businesses such as manufacturers, contractors, automation, and more.
CEO & Co-Founder
Phong was previously the President of General Plasma - a leading supplier of nanotechnology equipment and industrial automation solutions. General Plasma engineered and manufactured $100M in R&D and production equipment globally for OEMs in solar, automotive, display, and semiconductor. Phong has a gold medal in physics and two US patents. Phong completed his Wharton MBA as a Palmer Scholar. Charles and Phong in fact met while at Wharton in the MBA program.
President & Co-Founder
Charley has 18 years of Wall Street experience in fixed-income structured products and venture capital. He spent more than a decade advising and transacting with the world’s most sophisticated mortgage-backed security, commercial real estate, and consumer lending investors. Charley co-led fintech investing at Citi Ventures focused on early & growth-stage startups in payments, lending, and digital assets.
You might have come across OCR or automated invoice reading features before. Usually, they pick up just one piece of data - the bill’s total amount. Well, MakersHub is in a league of its own. We’ve created a proprietary smart data reader that contextualizes every single piece of data on the invoice, which allows us to then streamline all aspects of accounts payable.
Integration isn’t an afterthought at MakersHub. Software tools often promise the world, only to disappoint with subpar integrations. MakersHub places our integration with QuickBooks at the core of our product development - we sync more data, and in a more useful way, than any other accounts payable tool.
MakersHub means flexibility. We understand how things are done ideally, and then there’s how things happen in the real world. We don’t force you to follow a rigid system or workflow, and flexibility is built into every aspect of our tool. MakersHub combines smart tech with the control you need. You can move between manual, partial, or complete automation as you need it. MakersHub will make all your workflows faster - from data entry (new SKUs, vendors, job info) to payments (processing, approvals, extended terms), COGS management (job code assignments), and provide valuable business insights.
It’s hard to get the complete picture of what’s happening in your business without accurate data entry. Every day, companies face a barrage of information that needs to be captured in the accounting system: Incoming invoices, changes in item costs, and employee timesheets. MakersHub allows you to capture this data and, even better, correctly update your accounting system. The accuracy of our smart data reader enables meaningful business insights dashboards for cash flow projection, cash flow regulation, and tracking job costing changes over time.