China Network technology on August 19, new regulations on finance and taxation have been introduced, the regulatory platform has strengthened control, the financial and tax compliance initiative of small and micro enterprises has been improved more than before, and the transformation of digital intelligence has become one of the most important topics at present. In reality, there are currently more than 52 million small and micro enterprises in China, which are faced with multiple factors such as capital, technology and talent, and the process of digital intelligent transformation is slow.
Service providers represented by Changjietong have built an open ecosystem of value-added service providers and SaaS+BaaS platform integration, which can crack the financial and tax compliance pain points of small and micro enterprises, and achieve cost reduction and efficiency increase through natural language interaction and intelligent response with AI assistants available at any time. Changjietong products continue to improve in ease of use, intelligence and convenience, while small and micro enterprises do not need to pay higher costs for this.
銆銆"Smart brain" for 700,000 small and micro enterprises
The field of digital intelligence of small and micro enterprises is changing imperceptitiously. Upstream service providers add AI application research and development, so that small and micro enterprises can achieve digital and intelligent operation with low threshold. Changjietong is the "intelligent brain" behind it, providing small and micro enterprises with digital intelligence finance and tax and digital intelligence business services. Since the transition to cloud services began in 2016, Changjietong has served 706,000 cloud paying enterprises.
Yang Yuchun, president of Changjietong, introduced that Changjietong mainly uses standardized SaaS applications to meet the core needs of customers such as fiscal and tax management, order management, sales and inventory management, project accounting, and workshop management. For personalized applications, through eco-partner, low code and zero code platforms and API interfaces open to ISV developers, eco-partner helps customers realize personalized applications. Achieve tripartite win-win for customers, partners and manufacturers.
In addition to SaaS products, Changjietong is also in the layout of intelligent finance and tax BaaS(back-end as a service) business, and it has built "easy tax declaration" delivery centers in Zhangjiakou and Nanchang.
The accounting work of small and micro enterprises is usually in accordance with the express provisions of the accounting law, accounting standards, tax law and other relevant laws, regulations and policies, and the financial business entries, invoices and other work generally have corresponding operational guidelines. "That means there's a lot of room for large-scale substitution and application with AI." Yang Yuchun explains why the company has increased its investment in BaaS research and development in recent years.
At present, more than 20 million small and micro enterprises in China do not employ full-time accountants, but these enterprises have real needs in accounting processing, tax reporting, etc., so they usually turn to accounting agencies to solve such compliance problems. Changjietong is the "intelligent brain" behind these accounting companies, and its "easy tax declaration" cost reduction and efficiency is obvious. A skilled senior accountant can handle 100-300 more sets of accounts on average, while Changjietong's accounting algorithm robot can handle 1000-1500 more sets of accounts, which is 3-5 times the former.
Massive data feeds back the application's digital intelligence operation ability, and it is expected that the cumulative number of subscription paying customers of Changjietong will exceed 1 million in 2025. In Yang Yuchun's view, the role of "easy tax declaration" is similar to the "radish fast run" in the field of accounting. Based on a large number of user data training accounting model, master different business accounting methods and characteristics.
The simple and convenient operation mode also eliminates worries for small and micro enterprises. Changjietong has embedded a lot of AI content in the customer success system, and can respond to customer questions at any time, which is equivalent to a technical expert accompanying the whole process.
It is worth noting that although the level of digital intelligence of products has improved, the cost of small and micro enterprises has not increased. Yang Yuchun analysis, due to the number of customers enough, standardized product technology research and development investment will not increase the cost of downstream customers. "On the basis of large models such as UF and Ali, we have carried out unified fine-tuning to improve the application and intelligence of products."
銆銆Open ecology drives the transformation of digital intelligence
If Changjietong's SaaS and BaaS products are "intelligent brains", helping small and micro enterprises to transform and upgrade, then more than 3,000 value-added service providers distributed across the country are the "right hand arm" of small and micro enterprises, focusing on personalized and localized services.
Small and micro enterprises have a natural sense of trust in local value-added service providers, and localized customer development and service upgrading are naturally one of the basic functions of value-added service providers.
Value-added service providers also play the role of expert consultants. In addition to single-function or domain-based SaaS products, Changjietong also has a "T+Coud" product, a cloud ERP integrating production, supply and marketing, with a customer unit price of 20,000 to 30,000 yuan. In the process of launching and delivery of "T+Coud", the service provider needs to go to the customer's workshop to confirm the setting of the process, complete the online system process sorting and setting, role allocation, authority allocation and other work.
This year is the eighth year of Changjietong's transformation to cloud services, and it has provided cloud services to hundreds of thousands of small and micro enterprises, and experienced the compound interest effect. According to the company's 2024 interim results, the company expects to achieve 20% revenue growth in the first half of the year, with cloud subscription revenue growing by 33% to 37% year-on-year. Yang Yuchun said that the revenue of SaaS business is predictable, measurable, and deterministic, and even if the macroeconomic headwinds, small and micro enterprises are less willing to pay and other difficulties, Changjietong's user retention rate is still more than 70%.
The digital intelligent transformation of small and micro enterprises is still advancing, and the reform of the fiscal and tax systems is an important driving force. Since the beginning of this year, the "agency bookkeeping basic work specifications", the new "Company Law", the new "Accounting Law" and other implementation, the national agency bookkeeping industry supervision service platform will be officially launched in October, and the "number of telegram tickets" accelerated promotion, the requirements for fiscal and tax compliance are getting higher and higher. Yang Yuchun said that if new technologies and systems are not applied, it is difficult for small and micro enterprises to rely on their own ability to meet the various requirements of new technologies, new norms and new tax laws.
In the face of future market opportunities, Changjietong plans to better serve small and micro enterprises together with ecological partners through the use of AI and people + algorithms, and help the transformation and upgrading of small and micro enterprises with digital intelligence. In the next three years, the scale of Changjietong value-added service providers is expanded to 5,000, sinking to the county market. Yang Yuchun believes that there is a window of opportunity in the sinking market. On the one hand, the degree of rigid demand of small and micro enterprises is becoming higher, and on the other hand, benefiting from the extensive coverage of China's network infrastructure in recent years, has stimulated the digital intelligence demand of small and micro enterprises at the county, town and township level.
