Nomisma Solution

Summary

Nomisma is a true end-to-end SaaS suite built for accounting firms & SME clients, with a single interface covering everything from bookkeeping and payroll to tax and full CRM. With 600+ practices enrolled, using it on 10,000 of their clients, Nomisma are now raising to ramp up sales and marketing.

• 100%+ YOY customer growth, 72% YOY revenue growth in FY 2022 (EBITDA -£1.46m)
• 600+ practices already signed up, using it on 10,000+ SME clients
• 5.6m UK small businesses & 42k Accounting/Bookkeeping firms to target
• UK SME/accounting practice software market worth an estimated £900m+ in 2020

Idea

Nomisma is a cloud-based, integrated suite, purpose-built to help UK bookkeepers and accountants in practice to work with SMEs on their books and payroll in collaboration with advisors, or independently. Designed to help a market of 42k UK bookkeepers, this opens up access for Nomisma to be used by a portion of the 5.6m SMEs in the UK.

Accounting firms typically use different packages for their ‘front office’ bookkeeping and payroll and their ‘back office’ accounts, tax, and workflow management, even though they need the same information. Data transfer over this gap costs time and risks error.

Worse still, for the smallest sole trader clients, the next stage of HMRC’s ‘Making Tax Digital’ initiative requires a shift to digital record-keeping and quarterly (from annual) submissions.

We believe that Nomisma closes the gap with these practice functions, and more, in one place. Potentially replacing 6-8 different products can also cut costs by a possible 50%+, on top of the time saving.

We aim to make switching painless, helping with data migration, training, and phone support.

Operated as an in-house system from 2014 to 2020, Nomisma was reengineered for the open market and relaunched in 2021. 600 practices, dealing with 10k business clients, already use it and revenue grew 72% YOY to £514k in FY2022. Further investment is sought to accelerate marketing and help to reshape this market.

Team

Sumit Agarwal Acma, Founder - Part Time

Founder of DNS Accountants at age 26. Grew the business from a one- man practice to a 6,500+ client group. Nomisma is his answer to the practical challenges, and technological opportunities faced by Accountants. DNS has experienced positive growth whilst using Nomisma, now using the service for over 4,000 clients, and we want to share this experience with the accountancy community.

Simon Guest, Chief Executive Officer

Veteran of the SME and practice software market, having held senior roles with some of the main names in the market, including IRIS, KashFlow and TaxCalc, through early-stage growth to maturity.

Viral Patel Acma, Chief Finance Officer - Part Time

Senior finance leader with diverse experience across PE-backed high growth SaaS organisations encompassing performance management, strategy, exits, and transformation.

Ashleigh Hall Maat, Head of Product

Accountant turned software enthusiast with extensive practical knowledge of the accounting software market. Understands the pain points of Accountants and bookkeepers, having been part of large, award-winning accounting firms.

Sandeep Tyagi, Chief Technical Officer - Part Time

Technologist with many years of management experience leading diverse organisations through digital & business transformations, information technology, business analysis and software development programmes.