We chatted to E3 Alumna, Dr Laura Rusu, about her business and her experience in the E3 program

We chatted to E3 Alumna, Dr Laura Rusu, about her business and her experience in the E3 program

Dr Laura Rusu is the founder of LENSELL®, a global platform for corporate performance democratisation, that removes cost and complexity barriers and makes the corporate financial and non-financial performance information accessible to everyone.

Dr. Rusu took part in SBE by Springboard Enterprises E3 program in 2019 and has since made great waves with her business, XBRL Advance. We spoke to Laura about her experience in the program, her biggest takeaways and about what's she's up to at the moment. 

Hi Dr. Rusu. Thanks for stopping by. We wanted to check in on how you found your experience with our E3 program. First up, why did you decide to go through the program to begin with? 

I heard about the exceptional quality of the program from previous alumnae, and I wanted to learn from the successful women entrepreneurs who are part of the SBE team. 
 
What do you think was the most valuable lesson you learnt throughout the program? 
 
Always look at your customers' needs and pain points, and think about how your product or service can address those.
 
What do you feel were the benefits of being a part of the SBE E3 program?
 
Connecting with a community of amazing women entrepreneurs who are willing to share their successes, difficulties and lessons learnt along the way.
 
Do you have any advice for anyone considering applying for the program?
 
I would advise them to apply as soon as possible and secure a place in the program. There are many business skills that can be learnt online, but some insights can only be acquired from brainstorming real life problems with real life successful entrepreneurs, and this is what SBE offers.
 
And for every female out there thinking of founding her own business, or starting out on her own, what’s one piece of advice you wish you could share with your younger self or to someone starting out? 

Start your journey when you feel ready, and be ambitious. It is certainly a difficult road ahead, but life would be boring if everything was too easy.. 

Amazing advice, thank-you for sharing. Now on to what you've achieved since completing the program. How has 2020 started for you? 

In January we launched LENSELL® - the platform for corporate performance democratisation, with two main products so far - one for Australian companies to report digitally, and one for international investors who are investigating US equities.

Sounds amazing. Tell us more about Lensell®, as we feel this is something a number of our founders could benefit from.

LENSELL® is the Global Platform for Corporate Performance Democratisation, that removes the cost and complexity barriers and makes the corporate financial and non-financial performance information accessible to everyone. It enables companies connect with millions of potential equity investors around the world, by boosting their financial discoverability online. It also gives investors and analysts 24/7 access to a suite of tools and apps for fast performance data access and insights discovery.

LENSELL® uses digitalisation, data exchange standards, machine learning and other technologies to make access to the platform easy, affordable and valuable for all participants.

Australian companies can elect to upload their public financial data directly to LENSELL, or report digitally to ASIC. In both scenarios, the public structured data is made available online to investors and analysts worldwide in minutes. 

For companies that are looking to move to digital financial reporting to ASIC, we offer a free trial of XBRL Reports - a secure cloud-based application that enables Australian companies to report public financial data to ASIC in a compliant, digitally structured format. This means that many of the time-consuming tasks of manual reporting – compliance checks and PDF production – can be eliminated or very much reduced. XBRL Reports is built on top of the Government’s SBR platform and includes automatic ASIC pre-lodgement validation and lodgement confirmation. (You can read more about this aspect here).

For companies that are not ready to trial digital reporting to ASIC but want to improve their financial discoverability online and reach more equity investors worldwide, we offer a free trial of data upload to LENSELL®. (You can read more about this aspect here).

For investors and analysts that are looking to speed up and scale up their analytics, we offer a free trial of our LENSELL® for Excel add-in (US version) - a powerful Excel Add-in with inbuilt functions and ratios that allows investors and analysts query the latest financial reports from thousands of US companies as soon as they’re submitted to SEC (US Securities and Exchange Commission).  Over 4 million financial data points from more than 9000 companies reporting to SEC in the past 10 years can be easily queried directly in Excel. (You can read more by clicking here).

What an incredible business! Well done. What's next for you? 

Coming soon, we've got LENSELL® for Excel add-in (AUS version), allowing investors and analysts query financial statements data from ASX listed companies reporting digitally.