OCBC, Xero launch online accounting platform for SMEs

Clients will have a 12-month free access under the Start Digital Initiative.

OCBC is partnering with New Zealand cloud accounting software firm Xero to help SME clients digitise their operations, according to a news release.

SMEs will receive up to 12 months of free access to Xero’s online accounting platform under the Start Digital Initiative by Enterprise Singapore and Infocomm Media Development Authority (IMDA).

Businesses can also enjoy up to 12 months free use of OCBC-curated digital solutions on human resources, digital marketing, digital transactions, and cybersecurity.

Clients will have real-time cash flow visibility and the ability to create invoices with automated reminders, reducing the risk of issues stemming from late payments. Xero also integrates with over 800 third-party apps, enabling businesses to build a customised platform through adding tools on payroll, HR and inventory.