Market Size & Potential

Question 1

Please quantify your market size?

Answer 1

Our calculated TAM is $10B, based on global revenue of $188B and Combinely being able to improve accountant’s revenue by 5%, driven by reducing client churn, improving referral rates, and repricing decisions.

Question 2

How fast is the market growing?

Answer 2

From Research and Market report, the market forecast to grow at a CAGR of 11.4% from 2023 to 2027

Question 3

Who is it for over the long term?

Answer 3

We had discussions with every level within the accounting industry and there is a clear need for every accountant.

• Junior Accountants handling day-to-day tasks.
• Senior Accountants and Managers overseeing operations.
• Business Owners and Partners managing client relations and firm overall success
• Independent and freelance accountants

Question 4

How will customers and/or users find out about you?

Answer 4

Currently, we use LinkedIn cold outreach and our landing page. We recently saw the limitation of it, and currently start exploring new lead generation methods such as face-to-face outreach, building our brand as AI authorities in accounting and satisfaction widgets on customer websites to boost brand visibility.

Question 5

In terms of user acquisition, what is your plan for overcoming resistance?

Answer 5

Delivering a high-quality product that naturally encourages client referrals, effectively mirroring the client development methods used by accountants.

Question 6

What is your highest paying customer? per-use basis?

Answer 6

• Largest ACV is $4.5k with75 mailboxes at $5/month, based in South Africa. Initially onboarded with 22 mailboxes and expanded to 27 and to 75 after using the platform. - 375 per month / 4.5 per year
  • Our highest paying on a per-user basis is $15 per user (4 in total) and based in Australia. - 60 per month / 720 per year

Question 7

How much revenue do you currently have?

Answer 7

We Have 4 firms as paying customers, generating $7.6k in annual revenue. (631 per month). We’ve been doubling our revenue from February to march, tripled in April, and in track to do the same thing from April to May.

Question 8

Describe all your current user prices and situation?

Answer 8

1 Spanish / 2 South Africa / 1 Australian

In order of rollout:

1. Spanish accounting firm
   
   • 80 employees
   • First customer - flat price $60 per month / 720 per year
   • Agree to roll out to the entire organization in the coming months as we expand capabilities / cover more junior roles.
2. Australian accounting firm
   
   • 25 employees
   • 4 users - $15 per user / 60 per month / 720 per year
3. South Africa accounting firm
   
   • 20 employees
   • At first, he didn’t want to pay without having a trial - we agree on it as he is one of the best early users we have in terms of time commitment to us as well as the quality of feedback we got from him
   • After a month of trial, we just agreed and made him paid for 15 mailboxes at $8/month - 120 per month / 1.4 per year
4. South Africa accounting firm
   
   • 80 employees
   • 75 mailboxes at $5/month - 375 per month / 4.5 per year
   • Initially onboarded with 22 mailboxes, expanded to 27 and recently another 48 new users. Since onboarding, they doubled user numbers and nearly tripling.

Question 9

Please quantify your market size? bottom up

Answer 9

We charge £$15 monthly per user, $180 per year, 1 million accountants in the US, $180m per year, 40% US market, $450M per year globally. Expand to the broader advisory industry, with 40% is accounting industry, TAM will be around 1.1B. Finally, $15 is quite low pricing that we could expand as we roll out capabilities.