TradeGecko recently exhibited at the Xero Roadshow Asia 2018: the future is now in Hong Kong and Singapore. The event attracts Asia’s most innovative accountants and bookkeepers, to give them rich insights into the latest developments in the accounting industry and technology.
The opening keynote was presented by Xero’s Asia Managing Director, Alex Campbell, who took a look back at how accountants and technology were working together in 2017 to transform the way small business was run. Xero originally started on the basic idea that SMEs were being held back by desktop software on PCs because they can’t collaborate in real time. Xero, on the other hand, enables accountants and small businesses to collaborate in the cloud, from anywhere, at anytime.
Xero has been growing fast and now boasts 1.2 million users, processing 1.5 trillion dollars in transactions in the last 12 months globally. Recent product announcements at Xerocon included: Xero Expenses, Xero Projects, and Xero HQ.
Focusing on the Singapore market, businesses have processed 20 billion dollars in transactions in the last 12 months using Xero, which is nearly 10% of Singapore’s GDP. With 55% of SMEs in Singapore experiencing zero or negative growth and spending 15.5 hours per month reconciling bank statements, Xero announced their recent innovations for the Singapore market. These were around better managing Singapore GST and connecting with key local banks (UOB, CIMB, HSBC, DBS and OCBC) through automated bank feeds.
Xero has a strong vision to help SMEs and Accountants grow their business globally. Alex admits they can’t build every application that small businesses will ever need, which is why they have created Xero as an open API platform for developers to build an ecosystem of smart apps upon. TradeGecko is one of those ecosystem apps which provides sophisticated inventory and order management capabilities for wholesale distributors and eCommerce brands to take control of their business.