The Tax Service of Ukraine and other state authorities require enterprises to submit reports electronically. The iFin reporting service helps companies comply with the law and will be in demand despite the pandemic and exchange rates.
The cloud service has been operating since 2011, it has more than 15,000 active clients in the database at the moment.
The key product metric is the number of reports submitted per year. This number amounted to 1.4 million reports. To achieve the key metric, the following indicators are also monitored: the number of registrations per month, the number of new subscriptions per month, the conversion of registrations to sales, conversion of renewals, income per client.
- commercial enterprises;
- budgetary organizations;
- individual entrepreneurs;
- accounting companies.
Making tax reports. A simple registration on the website opens access to a system where companies create reports in just a few clicks. This opportunity is provided by the automation of the filling process and the abundance of prompts.
Submission of reports electronically to regulatory authorities. Through the ifin system, the generated reports are transferred to the regulatory authorities. Data safety is provided by the Microsoft service.
The iFin.ua reporting service helps companies to comply with the law and will be in demand despite the pandemic and exchange rates.
iFin provides its customers with the highest quality service. Service satisfaction (NPS) growth: 2020 – 66%; 2019 – 63%; 2018 – 52%
Based on the operating business (product and customer base), it is possible to create new products:
- The creation of a new certificate authority (KNEDP) with the operating customer base will not require additional costs for the "promotion" of a new direction. Fast income generation.
- Creation of a separate module of the software registrar of transactions will attract additional income.
- Blockchain-based arbitration between taxpayers and fiscal authorities will provide new business opportunities.
Market and competitors
There are now 3 million registered enterprises in Ukraine. Today 15 thousand iFin.ua clients have a market share of <1%. This number of clients brought in a turnover of UAH 8.7 million (USD 320 thousand) in 2020.
In the future, an increase in market share up to ~ 2% will give an increase in annual turnover up to UAH 30 million or USD 1 million
Key competitors can be classified into two types:
- Free services: personal account of the tax service of Ukraine, reporting service in Privat-Bank;
- Paid services: Medoc is the largest player on the market.
IFin competitive advantages:
- Creation of reports in a few clicks;
- A cloud service that does not require additional resources and technology can work on any device;
- Additional modules for accountants;
- Instant transmission of data electronically to all relevant authorities;
- Automatic process: automatic filling, automatic prompts in the system;
- Confidence in the safety of data. Microsoft is the guarantor of data storage and transmission;
- High-quality call center support, personal approach to customer needs.
Subject of sale:
- IFin trademark (logo in attachment).
- Website: https://www.ifin.ua/
- Software with a client's office (console).
- CRM, cubes for administration.
- IP telephony software.
- Servers, furniture, etc., necessary for the full functioning of the call center.
- Qualified staff.
- Client base and current contracts.
- Three legal entities registered in Kyiv
Price: USD 3,000,000
The information in more details is available upon request.