Partnership helps local enterprise watch their bottomline, so they can watch their topline.

Singapore enterprises and start-ups can now have the best of both worlds; a cost-effective cloud-based accounting solution, complemented by the support of one of the world's largest professional services firm-networks for when they need it.

KPMG in Singapore becomes the first Platinum Partner for Xero in Asia. This strategic partnership combines Xero's cloud-based accounting software with KPMG's wealth of business expertise. 

Not only will Singapore enterprises and startups enjoy select online accounting and tax services at a very affordable price to track their business performance and cash-flow online in real-time, they will also have access to business expertise from KPMG professionals, when they need it. Services include accounts preparation, book-keeping, payroll, GST and filing of corporate tax returns.

This announcement follows on from similar strategic alliances signed by KPMG member firms in the United Kingdom and New Zealand.

Mr Owi Kek Hean, Deputy Managing Partner and Head of Enterprise Market Segment at KPMG in Singapore said, "We are delighted to see this partnership inked with Xero. It will allow us to offer professional services aligned closer to the unique needs of local enterprises and start-ups, while making enhanced reporting and other value added services available should they need it."

He added, "The partnership further demonstrates our commitment to small businesses that form the backbone of Singapore's economy, supporting delivery of our services to this segment where technology is increasingly transforming the way business is done."

Xero Managing Director for New Zealand and Global, Victoria Crone, said, "It is very gratifying that KPMG selected Xero to be one of its technology platform partners for their online services, confirming our belief that cloud accounting is fast becoming an important platform for both accounting firms and small businesses."  

 

Elevating business in the cloud 

Increasingly, organisations around the world are using cloud technology to enact large-scale change, whether within individual business units or across the enterprise. Much of the interest in online and cloud accounting services comes from small medium sized enterprises, due to potential costs and efficiency benefits. 

According to a recent KPMG International survey titled ‘Elevating business in the cloud' , transformative uses of cloud include enabling a flexible and mobile workforce (42 percent) and improving alignment and interaction with customers, suppliers and business partners (37 percent). 

This theme is evident in the report, which reflects the perspectives of more than 500 business executives – CEOs, CIOs and CFOs globally – including the Asia Pacific (25 percent). 

Said Mr Owi: "Cloud accounting is fast becoming an important platform for both accounting firms and small businesses. They do not only result in cost savings, but they can help organisations increase workforce flexibility, improve customer service and enhance data analytics."

"In other words, cloud should be considered a key enabler of the corporate strategy, driving strategic business transformations of all kinds. Our partnership with Xero will help businesses achieve the freedom of managing everything (including your financial affairs) from a smart browser-based interface", Mr Owi added.

"The partnership firmly aligns with our vision to make it easier for small businesses to meet their compliance requirements and ultimately run things more smoothly. There is no doubt that Xero is an effective platform for KPMG to access business data and reduce compliance costs", Ms Crone added.

 

Enhancing the Singapore entrepreneurship landscape

The KPMG-Xero partnership will be officially launched at LaunchPad @one-north tomorrow, which houses an estimated 500 start-ups and 35 incubators. 

Hosting participants from a number of start-ups who have indicated their attendance, speakers from KPMG and Xero will be discussing the issues that many start-ups typically encounter as well as sharing the stories from Xero's own journey from a start-up to a successful company listed in Australia and New Zealand. 

Johnny MacAvoy, Xero Sales Director for Global said, "Today's announcement of KPMG as our first Platinum Partner outside our four major markets of New Zealand, Australia, the UK and the US, really demonstrates Xero's global reach and our role as a global cloud provider - servicing small businesses all over the world.