Loading ...
DealLite
Other
Pitch Decks
27
0
Try Now
Log In
Pricing
INVESTOR DECK Save Time & Money With Our Streamlined Accounting Solution SUMMARY MyT is an AI cloud-based accounting software that is well placed to serve the forthcoming Making Tax Digital - MTD - changes to be implemented by HM Revenue and Customs - HMRC. MyT accounting tools allow small businesses, freelancers and accountants to handle accounts easily and improve financial performance year on year. SUMMARY MyT is an affordable subscription service with five flexible options to choose from. These options differ in functionality, so you can pick the solution that best suits your needs at any one time and scale up or down as needed. MyT is rapidly becoming the favorite of micro and small business owners and it is now poised to cross the oceans and gain a substantial market share. My T is the ideal adaptable solution for any accountant, as it can quickly adapts to their business needs: MyT server has a spectacular capacity that can organize all client's information. MyT is different from other accounting software providers, it has full data extraction integrated within the bookkeeping software. MyT has been recognised by HMRC as a Making Tax Digital provider. MTD will be mandatory for all businesses from April 2023 with MyT able to solve the challenges business owners will face in migrating to maintaining digital records. WHAT IS MyT MyT is accounting software reinvented. It is AI-driven and cloud-based. WHAT’S IN A NAME MyT was created to help micro businesses and their accountants keep and process all of their clients’ records efficiently. Adding up receipts will be a thing of the past. Just take a picture of your receipts and the rest will be done by MyT and your accountant. Despite accounting software being widely used by micro and small businesses, no software in the market allows clients to just take a picture through the app, crop it and send it – we will take care of the rest. MyT is not just a record keeping app, it is backed by AI augmented Optical Character Recognition algorithm, which allows us to efficiently extract relevant data from users’ uploads and convert it to spreadsheet format automatically. Data will be divided into accounts and ledgers, taking away the burden of manual entry. MyT will help self employed individuals, freelancers and small businesses save time and money with tax compliance and becoming paperless with their accounting. THE 4 PILLARS OF MyT AI CLOUD DRIVEN CREATE BY ACCOUNTANTS EASY TO USE & EXCELLENT CUSTOMER SUPPORT BUILT FOR MICRO & SMALL BUSINESSES Oumesh Sauba CEO Oumesh is a CIMA qualified accountant and has a BA (Hons) Accounting. He has been involved with AI/ML within the accountancy industry for over 5 years. Since founding his first practice in 2008, until this day he has been focusing on striving for excellence and highest manner of customer service. As a chartered management accountant by training, he specializes in financial accounts, management accounts and taxes. MARKET OPPORTUNITY & POSITIONING WELCOME TO MYT COMPETITION Smart Invoicing User Experience MyT is the first AI/ML led accounting software to enter the MTD market. WELCOME TO MYTBUSINESS.COM A business mainly financed by its Founder that over the past two years has built up significant and differentiated assets: Assets: Unique and valued technology, with registered trademarks in the UK. The owner business acumen and database of contacts include some of the most notable accountancy firms and professionals in the UK. 1 Brand Positioning: MyT is the first AI-driven accountancy software in the world that caters for the needs of micro and small business owners. 2 WELCOME TO MYTBUSINESS.COM A business mainly financed by its Founder that over the past two years has built up significant and differentiated assets: Marketplace Traction and Business Development: MyT has a strong business development and marketing strategy in place designed to quickly establish a strong presence in the software accounting for micro and small business owner segment of the market. 3 Expert Team: MyT has assembled a world-class team of professionals that have built a number of the successful brands on the market today. 4 5 HMRC Recognised: MyT has a unique position as an AI/ML led software that HMRC has recognised as a provider for Marking Tax Digital. TOP FEATURES Make large transactions Run reports with your database MyT and AI Grow your business Increase accountancy effectiveness IN A GROWING SOFTWARE ACCOUNTING INDUSTRY Outreach to UK small businesses (10% conversion rate) Outreach to UK accountancy firms (10% conversion rate) Investor management CSR Marketing Campaign The Marketing Strategy and Plan is set to achieve the following 12-month targets: SUCCESS TO DATE MyT has acquired over 500 users without extensive marketing effort- in part due to our innovative AI solution that was developed in-house. Recognised software provider for HMRC Making Tax Digital. MyT MTD App is available on App Store and Google Play. Integration of AI into the bookkeeping functionality. Registered trademarks for 'MyT' logo, 'T' icon logo, 'Easy Accounting’ and 'a mighty powerful app' phrase. MyT is an AI cloud-based accounting software. MARKET RESEARCH SIZE OF THE MARKET: UK FIRMS Source: House of Commons Library 2021, Business Statistics Businesses in the UK by number of employees, 2020 Businesses 000s Employment 000s Turnover £ billions Businesses % Employment % Turnover % With no employees 4,568 4,966 316 76% 18% 7% SMEs (0-250 employees) 5,973 16,836 2,270 99.9% 61% 52% Of which: Micro (0-9 employees) 5,725 9,162 931 96% 33% 21% Small (10-49 employees) 212 4,140 646 4% 15% 15% Medium (50-249 employee 36 3,535 694 1% 13% 16% Large (250+ employees) 8 10,896 2,077 0% 39% 48% Total, all businesses 5,981 27,732 4,347 100% 100% 100% THE TEAM MANAGEMENT PROFILES Oumesh Sauba - CEO Oumesh is a CIMA qualified accountant and has a BA (Hons) Accounting. He has been involved with AI/ML within the accountancy industry for over 5 years. Prashant Lunagariya - Software Developer Prashant has many years of experience as a software developer working with various technology. He developed various databases and worked machine learning system as well as OCR technology. He has a B Eng in Information Technology. Keith Miller - Non-Executive Director - MYT Limited Keith has enjoyed a long career in the banking sector, principally as a corporate manager within Barclays Bank, dealing with a diverse portfolio of larger business clients (T/O £10-100m) across London and the southeast. MyT FINANCIALS SUBSCRIPTION MODEL MyT is a subscription based SAAS model, offering a range of affordable and flexible payment options to suit different users. Competitive pricing will enable MyT to compete at every level of the market. MyT will also offer a free trial -- see our packages below: THE GLOBAL ROADMAP UK THE BIRTHPLACE US THE SPRINGBOARD 18-MONTH FOCUS EUROPE THE VALIDATION 12-MONTH INDIA THE CONSECRATION 12-MONTH FOCUS VISIBILITY TIME 2021 2022 2023 2024 COMPETITIVE ADVANTAGES Set to own the Micro and Small Business Accounting Software Category MyT technology is built around the needs of micro and small businesses. Thought Leadership Created by accountants for accountants and their clients, MyT offers an unparalleled customer support. Embrace AI MyT is the only accounting software based on AI technology. FINANCIALS Year 1 Year 2 Year 3 Year 4 Year 5 Clients 3,600 11,120 22,480 37,680 56,320 Income 323,235 1,494,312 3,349,298 5,961,864 9,337,812 Cost 19,088 88,160 204,850 364,640 571,120 AI 114,360 528,960 1,843,650 3,281,760 5,140,080 Commission to accountants 32,324 149,431 334,930 596,183 933,781 Gross profit 157,464 727,761 965,868 1,719,278 2,692,831 Admin Costs 18,000 60,000 60,000 60,000 66,000 Marketing Costs 60,000 60,000 60,000 60,000 74,250 Staff costs 24,000 60,000 60,000 72,000 60,000 Developers 24,000 60,000 60,000 60,000 72,000 Total Overheads 126,000 480,000 480,000 720,000 836,250 Profit 31,464 247,761 485,868 999,278 1,856,581 CONCLUSIONS MyT aims to take significant share in the micro and small business accounting software market in the UK as well as expand internationally. With its AI-driven cloud-based technology, MyT is scaling to expand beyond the accounting software market, tapping into a broader segment of the industry. In promoting the first AI-driven accounting software MyT addresses a major category that is underrepresented in the market. MyT has assembled a world-class team of professionals that have built a number of the successful brands on the market today. MARKET SIZE MARKET EVALUATIONS TAM – Total Addressable Market (US+EU) SAM – Serviceable Available Market (20%)* SOM – Share of Market Targeted Market Share 10% 60M £6.1B £30.5B
