​Had an idea, someone beat me to it, should I do it anyway?

I was working on an idea for an app that in short saves certain professionals time during calculations and documentation (step 1) for their job.

Someone released basically an app that does exactly what I wanted to do and on top of that it processes this info to get an official certificate for the professional (step 2).

My plan was to first make the app that does step 1 (calculations etc) and then add step 2 (certificate request) after I made some money.

Basically how it was before today people would do all the calculations by themselves and then submit the data to a company that does certification (step 2) so I’d basically make an software that still saves them time but they would have to have an subscription to one of these step 2 companies which is like 600+ euros a month.

My original plan was to ask 200 euros a month for step 1 and then add 3-400 euros for step 2.

Step 1 would save professionals 16 hours a month which would translate to 800 euros since their make like 50 euros an hour.

I’m planning to get a demo for the new software to see what’s it like and what the pricing is.

From what it looks now the app looks very good and honestly i wouldn’t be able to add too much stuff to make it better if it’s as good as promised.

Should I continue with the idea and compete with a lower price or kill it?

Step 1 would cost me a month or two and a few hundred euros to complete and step 2 would cost a few thousand and quite some time since I’d need to get verification from the government.

Thanks