How an online retailer outsourced his accounting and emerged stronger

It’s a great time to be an online retailer. Just ask Lachlan. With a storefront on Shopify, he does brisk business selling his wares to a global audience. But, as any business owner will know: unless you are staying on top of your books, you are hampering your ability to grow. Which is why he went on a wander around Google for an accountant, and ended up walking through Xibo’s virtual doors.

Challenges:

For Lachlan, the retail model of dropshipping means that he sells and ships products directly to his customers without handling any physical stock. It’s a cost-efficient way of doing business. GST filing Singapore

The daunting part was keeping up with his growing transaction size each month. “On top of that, we run multiple stores, so the accounting can become a little complex,” he said.

Concerns that any prospective accounting firm “would be unfamiliar with the various E-commerce platforms and (his) particular business model” also weighed on his mind.

Solution:

As soon as Lachlan met the Xibo team, he knew he was in good hands. “The onboarding process was extremely smooth… I was very impressed by the fact that they had a well-versed knowledge of each and every platform, and took a strong interest in understanding our company,” he said.

From a cost perspective, engaging Xibo made good business sense, too, since “unlike most accounting firms, the pricing tiers included an unlimited number of transactions.”

Still, in today’s digital age, that human touch becomes even more crucial. “Xibo’s customer service goes above and beyond,” according to him, “they are always available to answer any question, no matter how minor.”

Outcome:

Ever since Lachlan’s company made the leap to Xibo, he has been able to keep track of his cash flow and financial position “at any given time”. Plus “make more well-informed, strategic decisions (that are) aligned with the long-term vision of the company.” Accounting services Singapore

More importantly, with bookkeeping off his plate, he has saved “an extraordinary amount of time,” redirecting his energy into “providing the best possible experience” for his customers.

It is no secret that competition on the Internet is fierce; and not a place where the ambitious ones like Lachlan will take a back seat. Xibo’s affordable price plans allow him to monitor expenses, discover new avenues of growth, and maintain low overheads.

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