Alexander Stoffers @nextAudit. Bootstrapping an AI-powered audit SaaS

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In this episode #40, we are talking with Alexander Stoffers, Founder of nextAudit (https://next-audit.de/), which develops software solutions for digitizing audit processes. Alexander talks about his passion for quality management and how it led him to founding nextAudit. He shares his vision about a hybrid work setting and the things they like to do in a team to bring everyone together and build a really inclusive culture. Alexander explores the ways AI can be leveraged for SaaS audits and why it’s safe to say auditors shouldn’t be worried about being replaced by AI in the near future.

(0:00:05) – nextAudit 

Alexander Stoffers, founder of nextAudit, a software solutions provider for digitizing audit processes talks about his background and how it led him to founding nextAudit. nextAudit is a cloud-based platform for conducting all types of audits and inspections, from quality management to supplier auditing. Alex shares how they use the platform for their own software inspection and release process, and he talks about the importance of ‘eating your own dog food’ to ensure the platform works well for their customers.

(0:17:18) – AI in Auditing and Training Benefits 

Alexander Stoffers discusses his journey of using AI to enhance audit processes. We explore how AI can help with data clustering, creating recommender systems, and knowledge sharing. We also discuss the implications of AI on the role of an auditor, which includes more focus on communication and methodology rather than mundane documentation tasks.

(0:26:33) – Strategies for Startup Success and Challenges 

Alexander Stoffers continues on the journey of building his bootstrapped startup, nextAudit, and the importance of cash management. We discuss how leveraging governmental programs and working with students from the university was a way to get more resources. We also explore techniques of effectuation or doing the best with the resources available, and Alexander’s most scrappy technique that works. Finally, we discuss the importance of staying focused on the product strategy and not getting too hung up on customer requirements.