Site.pro Scale to Latvia: Whitepaper

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Successful Scale to Another Country

Compared to Lithuania, Latvia has more desktop-based software. The pricing model is out of date. Company teams work separately from the accountant.

Site.pro allows teams to work together in 1 system. It saves time, allows integration, simplifies marketing and customer relations. Moreover, this model is more profitable in the long term (doesn't require 1:1 installation; it's easier to support one version instead of many).

Who Are We?

Filip
Our mission at Site.pro has always been to make business growth easier for companies around the world
Site.pro Founder, Lithuania
Site.pro
Alex
With over 25 years in the IT industry, we understand what we're talking about when it comes to development
CTO, Startup Adviser Lithuania
Site.pro

Problems and Solutions

We extracted the main issues that companies experience with desktop-based software. Around 90% of accounting programs are desktop, which results in:

  • Difficulties for accounting companies (AC) that need to work in the system with their customers;
  • Teams working separately from each other, e.g. a general manager and an accountant work in different programs;
  • Much higher price per license.

A flexible cloud software with collaboration features and rich integrations solves all of these issues.

The accounting program works both on a computer and on a phone

Market Prospects

Whole Market Size 70K SMBs, 2M population
Potential Market 70K x 30% = ~20K potential SMBs
Potential Revenue 20K x €10 = €200K/month

Our Advantages

Our Advantages

We have everything ready and planned out for scaling in different markets.

  • Channels — direct sales, AC network power, free invoicing, SEO;
  • Know-how — 1 system fits all, low cost, integrations with other platforms;
  • Established audience;
  • Technology stack — PHP, PostgreSQL, in-house development.

There is a risk of the process going slower because of the situation on the market. However, we cover the potential market penetration.

Investment and Revenue Timeline

Below is a progression you can expect to happen every 6 months.

  1. Launch MVP and start sales. Investment — €150K. Revenue — €0;
  2. Break-even. Investment — €150K. Revenue — €15K/month;
  3. Active marketing and backup. Investment — €100K. Revenue — €20K/month;
  4. Active marketing and backup. Investment — €100K. Revenue — €30K/month.

After 2 years, we expect to reach €30K monthly revenue.

Increased Earnings
Dovydas Kvederis
Site.pro — a great solution for an accounting company. This is a professional online accounting program. It can be used by a wide range of users: accountants, directors, managers, sellers, storekeepers, etc., and everyone with their own data access rights. It is a convenient, flexible and professional tool that saves our time
CEO, Lithuania
Finansų Centras