Xero, DBS extends partnership to encourage cloud-based accounting in SMEs

The six-month free access will let SMEs create e-invoices using Xero.

Small business platform Xero, in partnership with DBS Bank, is offering free digital accounting services to encourage more small and medium enterprises (SMEs) to adopt cloud-based accounting and software products, the company announced in a press release.

Eligible SMEs referred through DBS may receive up to six months of free access to the Xero accounting platform. SMEs will be able to create e-invoices with automated reminders using the platform.

Xero, which is also IRAS tax compliant, offers automatic GST F5 calculations for easy IRAS filing.

Further, the platform integrates an ecosystem of over 800 third-party apps that support business activities such as payroll, inventory and time tracking that will reportedly help businesses save time on administrative tasks.

The access is offered in collaboration with Enterprise Singapore and Info-communications Media Development Authority (IMDA) under the SMEs Go Digital Programme.