This market has been developed in China for more than 20 years, and its volume is huge. However, it has been dependent on offline for a long time, and its geographical dispersion makes it difficult for participants to form a scale. According to the Analysis Report on the Competition Status and Future Prospects of China Finance and Taxation Service Industry in 20021-2027 issued by Zhiyan Consulting, in 2020, the scale of China's finance and taxation service market will reach 1664. 1 billion yuan.
Smart Account is an Internet finance and taxation track company. It has more than1200,000 customers through online SaaS products and offline stores, and it is expected to exceed 2 million by the end of the year.
The fiscal and taxation operation platform, the core product of Smart Accounting, together with full-time fiscal and taxation personnel, can realize automatic standard accounting and taxation services for enterprises, including functions such as quick collection of invoice scanning code, quick introduction of bank flow, online automatic bookkeeping, and one-click tax return.
However, this model faces several challenges: First, although SaaS products have helped traditional finance and taxation companies to improve efficiency, they can't directly reach end customers and understand the real needs of business owners. Secondly, the distribution of traditional fiscal and taxation companies is extremely scattered, localized and small-scale, which leads to the weak willingness of traditional fiscal and taxation companies to pay for SaaS products, the limited unit price of products and the low monetization rate.
Soon, after 20 15 years 10 months, Huizhang decided to adjust its thinking-start using the business model of online SaaS products plus offline services to directly provide services to small and medium-sized enterprises.
Correspondingly, the advantage of doing this is that it can directly face small and medium-sized enterprises, and the customer's perception of smart accounting products is high, and the unit price of products can be further improved. And more importantly, Huizhang found that by directly serving small and medium-sized enterprises, not only can we reach the real audience of products more directly, but these customers' more intensive, direct and real feedback on products can help the company improve the efficiency of iterative products and make products more suitable for customers in different industries at a faster speed.
"Account tax belongs to security services. When you gain customer trust through a product, the customer will think, can you do all these things for me? "
Therefore, value-added services are considered as the key imagination space in the future. Sheng Lei said that based on these needs, Smart Accounts will become a one-stop enterprise service platform for the finance and taxation industry and related tracks in the future. Provide enterprises with services covering the whole life cycle of the enterprise, including standardized products and customized solutions based on standardized products, including industrial and commercial registration, bank account opening, equity change, fiscal and taxation agency bookkeeping, tax declaration, payroll, audit, cancellation and liquidation.
However, for products for small and medium-sized enterprises, one problem that has to be considered is the customer's own life cycle. According to a data from Bank of China in 20 19, the life cycle of small and medium-sized enterprises in China is only three years. Too short a life cycle means that the income of existing customers is unsustainable.
In this regard, Sheng Lei believes that in addition to the basic services such as bookkeeping and tax filing, the value-added services provided by Smart Accounts can also analyze the business situation of customers, and give customers reasonable suggestions on fiscal, taxation, industry and commerce, law and other issues to help them operate healthily and improve their life cycle. According to a data provided by Sheng Lei, the average life span of small and medium-sized enterprises on the smart accounting platform is 4.5 years.
In addition, Sheng Lei believes that entrepreneurs of small and medium-sized enterprises are usually continuous entrepreneurs or have multiple companies under their names. Even if the entrepreneurial projects are changed, the trust established by Huizhang in the past services can help Huizhang to acquire this part of customers at a lower customer acquisition cost.
In May, 20021,Huisuan completed the latest round of financing, with a quota of 80 million US dollars. Its historical employers include Gaocheng Capital, Xiaomi Group, IDG Capital and Sunshine Insurance. Zhang Shugang, the founder and CEO of Smart Accounts, is the drafter of the tax industry standard [SW/TXXXXX-2013] of the People's Republic of China, and the project director of State Taxation Administration of The People's Republic of China Golden Tax Phase III tax service platform, with more than 20 years of tax industry experience.