Finto, relying on cloud technology to create a new business

Finto provides software solutions for human resource management and accounting Business It is in the cloud bed. This startup has tried to create an advantage for itself in the red ocean market by relying on an innovation and to facilitate the use of the service by users. Mohammad Yazdi, co-founder and CEO fintoexplains more about this business.

First Mohammad Yazdi and then Tim Finto

I studied computer engineering at Shahid Beheshti University and I am the founder and CEO of Finto. Before the establishment of Finto in a Startup I was already working as a co-founder and technical director, which led to failure, and for a while I was working as a web developer in another startup.

Currently, there are 6 of us working in the technical and marketing departments. Most of the team members are graduates of Shahid Beheshti University and I was familiar with them before starting this project.

What problem is Finto supposed to solve? How did it start?

Finto actually provides cloud-based software solutions for human resource management and business accounting. Ideas It started when I was working in a small company and it was difficult to manage the company’s finances. Existing offline softwares were very expensive and required specialized knowledge to use them. From here, the idea came to my mind that why shouldn’t small businesses find a cheap software solution very easily and be able to use it easily. There is also no need for face-to-face training and installation and other tasks that make setup and use difficult.

How did you market Finto?

We tried to enter the market by creating attractive educational content in the fields of accounting and finance, and then find and follow up the necessary leads. Most of our marketing strategy is focused on organic methods and we try to have the best rate of return on investment with the lowest cost.

What are Finto’s competitors? What advantage do you have over them?

Our competitors operate traditionally in the market and provide their users with offline installation programs. Among the advantages of Finto and cloud systems in general, access from anywhere and anytime, without the need to purchase hardware and data storage equipment, much lower cost and tariff for users, information security, easy user interface, without the need to install And the update is automatic.

Are all domestic competitors?

There are many successful foreign examples in global markets, but due to issues such as differences in financial laws and security concerns of the country regarding access to financial information of Iranian companies by foreign companies, the probability of their entering the Iranian market is very low.

How has Finto’s growth been?

We reached the initial version in less than 6 months and the initial growth in Farabi Accelerator We left behind. Currently in the negotiation stage with Investors And we are going to attract capital.

What are your current challenges?

One of the biggest challenges in the current situation is the problem of liquidity and management of limited financial resources. With the rapid devaluation of the Rial, we have practically closed our hands for more creative actions and advertising, and we have been content only to survive and remain in the market. Managing financial resources in this situation was one of the most important challenges.

How will Finto services grow?

We have improved our services and developed features using user feedback. We tried to enter the market by offering Finto in the fields of payroll, salary and attendance management, and we have other solutions under development that we will unveil in the future.

A tip for success

There is no recommended and fixed path to success, but definitely studying the reason for failure and business challenges and difficulties will help entrepreneurs a lot to get closer to success. It is better that they follow their way by studying and improving their own knowledge and do not involve the words of people who have no knowledge of the market and their products in their business.