My Business Online Accounting

History

2023: Change of registration to Russian

The owner of the online accounting service "My Business" in December 2023 changed registration from Cypriot to Russian. The international company Limited Liability Company (MKOOO) "My Business Holding" was included in the register of participants in the special administrative region on Oktyabrsky Island (Kaliningrad Region).

According to Interfax, citing materials from the management company SAR, the main profile of MKOOO "My Business Holding" is associated with the activities of holding companies. According to the Unified State Register of Legal Entities (Unified State Register of Legal Entities (Unified State Register of Legal Entities), referred to by the news agency, before the redomication, My Case was registered in Cyprus with the name Moe delo holding limited. Information about the head and founder of the IPPM is not disclosed. Moe delo holding limited owns a 100% stake in My Business LLC.

The owner of the online accounting service "My Business" in December 2023 changed registration from Cypriot to Russian

Andrei Vanin, head of analytics and financial services at Gazprombank Investments, in a conversation with Vedomosti, noted that re-registration and return of control to Russia are mandatory for all business assets operating in key sectors of the economy for society and the state.

There is no exact characteristic of this wording at the disposal of the president, and its practical application can be quite free, but so far, in our opinion, all quasi-Russian companies fall under this sign, "he explained.

"My business" is engaged in outsourcing accounting services and Internet accounting. By the end of 2023, the company has 70 thousand entrepreneur clients. According to Interfax, the general director and founder of My Business LLC, according to the company itself, is the former head of Glavbukh publishing house and Aktion-Media company Sergei Panov, and the former chief editor of Aktion-Media Anastasia Morgunova is the co-founder.^[1]

2022: Buying control in accounting services outsourcer, big business target

The online accounting service "My Business" acquired control in the company "Finaudit," which provides accounting services for medium and large businesses in Russia and in the EAEU countries. On June 14, TAdviser was told about this by the participants in the transaction. The remaining shares in the company are distributed among co-owners-individuals.

Finaudit in the My Business group will provide services under the My Business Corporation brand from July 1, 2022. Thus, My Business, which historically focused on SMB clients, will now cover the segment and large corporate customers. Read more here.

2012

My Business announced in the spring of 2012 that it had received $4 million from Klever Internet Investments Limited, a division of the Klever Asset Management investment fund. There is not much public information about the activities of this fund. In 2008, the agency Reuters wrote that it was established by the co-founder of the construction group of companies PEAK Yury Zhukov. The fund, according to the agency, amounted to $500 million. No other investments of Klever Asset Management in Internet services have been reported to date - there was information only about transactions related to construction. The funds received from the investment fund "My Business" plans to be used to develop products and increase the level of security of online accounting. Under the terms of the transaction, a controlling stake is retained by the company's management. In addition to increasing the level of security of the service, the company's immediate plans also include integration with the largest Russian banks and the development of professional products, says Panov. In addition, at the moment, My Business is considering the prospects for going beyond the Russian market - to the CIS countries and Eastern Europe, he said. CNews

As of March 2012, the number of subscribers of the service - companies and individual entrepreneurs - reached 180 thousand. The number of active subscribers indicated on the My Business website exceeds 45 thousand. The growth in the number of subscribers year-on-year as of January 2012 amounted to 700%, they say in the company.

The main competitor of the service "My Business" can be called the electronic accountant "Elba" and the product "Eureka" for payroll and personnel accounting. Both of these products were created by SKB Kontur and are also provided from the cloud. About 200 thousand people are registered in Elba, and more than 50 thousand users are registered in Eureka, Ilya Bublik, head of the Eureka online service, told CNews. At the same time, the number of active users in these services is 70 thousand and 15 thousand, respectively, the company says.

2011

The online accounting service "My Business" insured its responsibility in the company "VSK":

• for the quality of the services provided for accounting, delivery of electronic reporting;
• for the safety of customer data.

This is the first such insurance contract among SAAS services in Russia and a precedent for the insurance services market.

"We have insured the quality of our services," says Alexey Petrov, the company's executive director. - This means that in the event that fines, penalties or losses appear on the user due to our fault, the insurance company will reimburse our client for these losses in the amount of up to 100,000 rubles for each insured event. We hope this will be a good example for the rest of the companies. And our experience will move into a new standard for the quality of service provision in the SAAS services market. "

New terms of service are available today. At the same time, customers of the service do not need to issue and fill out anything: insurance coverage will act automatically for them.

It is important to emphasize that the level of protection of confidential information of users in the "My Business" service is in no way inferior to Internet banking. The entire service database is stored encrypted. The key to the cipher is separate from the files, and no one except the user himself can access the data even if the server is hacked or physically seized.

In addition, the transfer of data between the user's computer and the My Business server is encrypted using the SSL protocol, one of the most modern and reliable cryptographic information protection tools .

The reliability factor is also the backup of data, which is carried out every 6 hours and guarantees that the data will never be lost.