Startup Story: Stanislav Tsoi’s story about launching ‘My accountant Online’ project

IT Park continues to tell the stories of successful startups under the Startup Story section. This time we talked with Stanislav Tsoi, the founder of the My ‘Moy buhgalter’ project.

Stanislav is 31 years old. He is also a Product Manager of the startup.

How did the idea to start a startup come about?

According to Stanislav, while running his business, he was constantly faced with accounting issues that took a lot of time and effort. Therefore, he had a desire to automate these endless repetitive processes as much as possible.

“I really wanted to make accounting simple and understandable, without posting accounts, without delving into complex annual balance sheets, so that it would be easy to control your cash flows. Thus, the idea was born to create an application that will allow all entrepreneurs not to delve into the subtleties, but to focus on business development.”

Currently, in addition to Stanislav, there are 9 people in the team: Khamro — a founder;

Umid — director and idea generator, sees the functionality of the project in 10 years;

Yuliana is an administrator, a team member who manages the entire internal side of the application (users, companies, client tasks, payment calendar), tests all interfaces and finds even the smallest flaws, she is the link between users, accountants and developers;

Victor is a marketer, the main creative of the project, a member of the team who knows where to take clients, conduct custom development with them, promote it on social media and share a vision of what the application looks like in 2025;

Alexander is a system administrator and security person for the team and the entire project;

Enver, Ulugbek and Aidar are born vendors that can sell everything, not only accounting services;

And a team of twenty accountants who support the businesses of entrepreneurs from morning to night and direct the product towards maximum benefit and efficiency for future users.

To work on the project, the guys also involve a team of developers from St. Petersburg — the company "Unique Technologies".

What does the project do?

"My accountant Online" is a mobile application aimed at making accounting simple and understandable for entrepreneurs.

In the mobile application "My accountant" users have:

• the ability to submit tax reports for individual entrepreneurs;

• tax (payment) calendar, which will remind and recommend what to pay and what is better to postpone;

• possibility to work with several banks;

• electronic document management with the possibility of signing from a mobile device;

• management report (income, expenses);

• problem book;

• chat with an accountant;

• reports: on cash flow, on debtors/creditors, on stock balances;

• the ability to check the counterparty for reliability.

What benefit does this startup bring to society/people?

Thanks to the My Accountant application, entrepreneurs, based on timely data available online, can quickly make decisions and develop their business. In addition, due to the automation of everyday processes, significantly less time is spent on accounting.

How do you plan to develop your project?

According to Stanislav, now the project is at the stage of beta testing by a focus group of users.

“We have big goals that we hope to turn into reality in the near future. For example, in the fall of 2022, we plan to enter production, and in 2023 — to the CIS market, namely Kazakhstan and the Russian Federation. Further — more, we dream to cover the whole world.”

Now the project is self-funded, but the team wants to attract foreign investors to make it international.

What was the most difficult part of the project for you?

As Stanislav admits, the most difficult thing was to stop the flight of fantasy on a certain set of functionality for launch, and leave a part for revision in the process.

“We wanted to make the perfect product that would make entrepreneurs lives easier. However, it is important to remember something: startups often face such a difficulty — creating something new, you need to create demand, educate users, set trends. Established habits are always hard to break.”

What do you think about the startup industry in Uzbekistan?

According to Stanislav, the startup industry is just emerging and gaining momentum.

“I see that our country is making progress in this direction, and this is largely due to the work of IT Park and venture funds. The influx of relocators also served as an impetus — they actively share their experience, which is certainly very valuable.”

As for directions, Stanislav is sure that since Uzbekistan is moving towards full digitalization of all industries, any startup can find its place under the sun of the startup industry.

“As an example of a successfully developing project, I highlight the startup BILLZ. Not so long ago, I met the co-founder of the platform, Rustam Khamdamov. Our users are from the same segment. Startup BILLZ attracts investments from foreign investors, this is an example for others — with a certain persistence, there are no barriers.”

For novice startuppers, Stanislav wants to always burn with ideas and not burn out.

“A united team and the uniqueness of the idea are the basis of everything. Startupers have to devote all their time to the development of an idea, a project, to break all the walls and barriers, to have time to share experience, to uncreate, and much more. This is a huge exciting journey, and let it be interesting and easy!”

Instagram:

‘My accountant Online’: https://www.instagram.com/moybuhgalteruz/

BILLZ: https://www.instagram.com/billzpos/

Websites:

‘Moy buhgalter’: https://my-buh.uz/

BILLZ: https://billz.uz/