When small businesses matter: Accounting tech firm Xibo set to

  • Xibo shows why innovation should not come at a high cost

    In today’s digitally-driven economy, Xibo - the bookkeeping and tax services using Artificial Intelligence (AI), aims to help small businesses improve their growth and revenue potential by providing them access to a high-level team of resources and support at an affordable cost.

    Small businesses form the backbone of every country, yet as many as 82% of them fail within the first five years. Since 2010, the Singapore Government has been urging small-sized companies to invest in automation and other technology solutions to stay relevant and competitive.

    A 2018 Cisco study, however, revealed that Asian companies are slow to adopt technology due to budget constraints and an unfit IT infrastructure.

    As such, the fundamentals of accounting for small businesses have stayed the same. Most either rely on accounting software or keep accounting in-house.

    “While other accounting firms just look at compiling financial statements, Xibo infuses technology in eliminating the pain-points of our customers,” says Saba Khan, Chief Product Officer of Xibo.

    Powered by a deep learning engine that does most of the work of a traditional accountant, Xibo is a low-cost and time-effective solution for small businesses to stay competitive by offering:

    1. A powerful platform that offers small businesses greater control over their finances.

    2. Customer-focused initiatives including real-time support, mobile apps, and fixed revenue-pegged packages.

    A Harvard Business Study showed that early adoption of new technologies leads to huge business payoffs like revenue growth and increased profit margins.

    “Ultimately, our goal is for small businesses to harness the advantages of AI technology with minimum cost outlay, so their doors remain open for a very long time,” adds Saba Khan.

    About Xibo: Xibo is an Artificial Intelligence powered tax and bookkeeping services company based in Singapore. Geared towards small businesses, Xibo provides a low-cost option for companies that want to track their finances more effectively with instant support.

    To learn more about how Xibo is integrating AI into aspects of small business accounting, visit https://xibo.sg.

    You can also head to https://xibo.sg/2020/01/08/09/06/17/1209/in-house-or-outsourced-accounting-services-understand-the-pros-and-cons/education/admin/ to discover how a new wave of accounting tech firms like Xibo are transforming today’s business landscape.