CUBE is a startup that helps manage a business based on financial metrics.

Ksenia Khan, financier, head of the finance department at Kazdream Holding and startup founder

How We Started

We entered the market in 2022. Our startup helps effectively manage a company or business based on financial metrics.

Over the years, I have realized that most companies face financial challenges. CEOs, directors, managers, financiers, and financial analysts make mistakes that lead to crises. These errors mostly arise because financial accounting automation processes are not established. Responsible personnel lack up-to-date information about their company’s value, profit margins, and capital amounts. Additionally, financiers struggle with manual data collection and processing. Consolidating all data can take several days.

Our startup solves these problems: it prevents cash flow gaps, instantly displays business profitability and valuation, and provides information on all corporate bank accounts. KUB is automated financial analytics for managing any type of business.

We offer the implementation of the KUB platform and expert assessment in financial management. Our goal is to help companies correctly establish processes for data collection and integration.

About the Founder

I am a product owner and also the financial director at the IT holding Kazdream. I have been working in the finance sector for over 10 years. My experience includes working at major companies such as ABR and Interfood.

The idea for the startup actually arose from my burnout at the company, however strange that may sound. When I establish managerial accounting, all work becomes efficient, and processes become routine. Burnout sets in when you either need to leave for another job or continue working in the same mode. I did not want to leave the company, but I wanted to develop in a new direction.

The CEO called me to a meeting because, as a professional strategist and experienced manager, he sensed that a crisis was approaching. He suggested that I develop my own product and enter the market independently. To be a financial expert and implement technologies and tools in other companies, sharing my experience. For me, this was a challenge. And I love challenges and stepping out of my comfort zone.

Target Audience

Today, the three main needs of any business and company are to know when a cash flow gap might occur, what the profitability is, and how much total funds are in all accounts.

Our KUB product collects all financial data and provides a unified system for their storage. All data is automatically displayed on the dashboard. For example, financial reports can be prepared in just a few clicks.

Imagine you are a restaurant owner. To obtain financial statements for a specific period, you need to write to managers, wait for them to collect the data, and perform analysis. There could be hundreds of such requests per month. How do you find out how much you earned in a month? Our platform stores all data and automatically displays the total figure.

The platform is useful for business owners who want to know how much they are earning. It is also useful for financiers and financial analysts who need to free up time for analysis, forecasting, and strategic company development. It is useful for directors and department heads to accelerate all business processes.

KUB is suitable for both small and large businesses in any sector. Currently, about 400 people use our platform.

Product Creation Idea

From my work experience, I realized that I see pain points regarding finances and accounting systems in companies. As a financier, I had to spend many hours on routine tasks: collecting data from all companies, exporting and consolidating reports, and checking applications. Because of this, there was no time left for financial analysis and company scaling.

I saw that IT specialists have special platforms that help them accelerate their processes. I also wanted to automate my work and create a product useful for everyone dealing with finances. I realized that I could act as a methodologist and correctly establish business processes. But I also needed to implement the technical part of the product. This required the help of IT experts.

Startup Launch

Together with the CTO and project architect of the IT company OneCode, Timur Kashkinbaev, we began implementation in 2020. We purchased a budgeting system from “1C-Rating,” but it had to be rewritten by almost 80%, so we decided to create our own.

First, we wrote an extension based on “1C: Accounting for Kazakhstan 3,” which allowed using KUB in any company without fundamental modifications to accounting systems. For the data warehouse, we used solutions based on Microsoft Power BI and Qlik Sense Enterprise. Currently, we are also expanding our platform lineup due to the emergence of “1C: Analytics” and Studio Creatio.

We implemented the first version of the product in 2021 and collected feedback from department heads and directors.

The first pilot of our system did not go as we expected. Many did not want to work in the platform. The main problem was that we overlooked the benefit for the end user, which is the Product Manager who enters all financial data. Therefore, we refined it so that the platform would be useful and understandable to any user.

Next, we released a new version of the product, conducted employee training, and received the first positive reviews. Now it is a whole suite of solutions, such as “Budgeting,” “Document Management,” “Audit,” Dashboard, DWH, MDM, data bus, mobile application, and many integrations. Data can be viewed for several years. All financial metrics are reflected in Power BI instantly.

In 2022, an improved version of the product was released, which we then launched to the market.

On Difficulties

I am a financier by nature, and for me, founding my own startup, let alone developing an IT product, seemed impossible. It was an unusual experience. I had to fully immerse myself in the worldview of IT specialists. I studied terminology and engaged in their processes. For example, I learned who a Scrum Master is and how JIRA works.

Difficulties arose during the system launch. Moments that seemed simple and elementary to me caused questions for other people. A simple example: users asked to add a “back” function in the interface, although it seemed unnecessary since one could press certain buttons. I had to realize that customer feedback is very important. We improved the platform several times so that users would be satisfied.

Achievements in 2022

Currently, we cooperate with construction companies and a supermarket chain. We are developing two directions: financial consulting, within which we conduct business diagnostics and provide recommendations for improving the company’s financial picture. We also automate business processes by implementing the KUB product and freeing up employees’ time so they can focus on analysis and forecasting.

Plans for 2023

I plan to improve the product by adding integration capabilities with financial systems: banking, tax, and others. I also want to launch my own course and trainings to help companies and businesses manage finances effectively.

I advise aspiring startup founders to always believe in their idea. It is also important to know your niche well, understand market specifics, and study new trends.