Your Business Cloud is an online web accounting application for your MYOB accounting software. This totally unique web application allows you to view and update your MYOB accounting data directly from a web browser anywhere in the world. Key Features: * Web interface for your MYOB company file * Dashboard with KPI's * Real-time Transactions * Day-to-Day Bookkeeping * Contact Management * Robust Security
Core Team Members
The idea for this venture came about after Marcel read an article (Feb 2009) in the Australian IT newspaper. It was about a company that had multiple cost centres around the country and were frustrated with their MYOB accounting package. Since all the cost centres were on the same MYOB company file they would need to wait until the end of each day to process their financials. This meant ‘lagging reports’ which prevented them from making decisions quickly. Their solution was to migrate over to Netsuite, a multi-user accounting solution, at a cost of $40,000, plus modifications, and with annual fees of $13,000.
Marcel, who was already a seasoned MYOB Development Partner, decided to design, develop and create a web-based application that would service this market niche. So, with a little ingenuity, coupled with years of application development expertise, Marcel developed the on-line, web-base application known as “Your Business Cloud” (YBC).
Company Vision & Future
It is our objective to:
• Extend the YBC solution to other accounting products (beyond MYOB) and offer additional transaction-based services to support the growing SME market.
• Secure a minimum of 10 thousand (10,000) customers within the next three-year period.
• Vehemently market the YBC solution via as many avenues as possible to ensure a deep penetration into companies that use SME-based accounting packages.
Current Valuation
YBC seeks a five hundred thousand dollar ($500k) investment to kick-off what can potentially turnover many millions of dollars in the first year alone.
This is not a whimsical product, a wish-list, an untested, or a 'might be' solution. YBC is a fully featured, functional, and operational solution currently engaged in retail Services to its customers. Since every business is required to maintain accounts and reports to the Government and Taxation officers, businesses recognise the capabilities and finesse of a sophisticated, multi-user, accounting solution; however, few can afford the luxury.
Until now!
Exit Opportunity
After the first year, it may be that one of the existing accounting firms – such as MYOB - may place an offer on the table, especially considering the impact that YBC will have on the existing and potentially future market. Some of this impact will be directly affected by the lack of acceptance of data security within the Cloud; so our marketing needs to be accurate, concise, and delivery a solid message.
Depending upon the posture of YBC, the directors should discuss each opportunity and evaluate each upon the merits of the YBC position.
Ideal Investor
We seek an investor / partner who has, preferably, prior experience in software start-ups and wants to work with our expertise and experiences. Naturally, there is a level of risk associated with any venture; however, software start-ups seem to attract investors seeking an immediate return-on-investment (ROI) rather than those interested in following a strategic plan.
Press Links
Category: Software or SaaS
Category: Software or SaaS
