Osome & OCBC Bank Help SMEs Save S$1,080 on Accounting & HR

SINGAPORE, May 15, 2020 /PRNewswire/ -- OCBC Bank and Osome, a Singapore accounting & corporate services startup, developed a new offer: OCBC Bank's SME customers can now get both services and software to manage payroll, accounting and taxes for just S$50 a month.

Enterprise Singapore, IMDA, OCBC Bank and Osome Make It Happen 

The new package includes Osome's services and the Start Digital Pack offered by OCBC Bank. Start Digital is a collaboration with Enterprise Singapore and the Infocommunications Media Development Authority (IMDA) under the SMEs Go Digital Programme.

The SMEs Go Digital Programme aims to make going digital simple for SMEs. Among other initiatives, it includes Start Digital, Industry Digital Plans and a range of pre-approved digital solutions that help SMEs seize growth opportunities in the digital economy. 

OCBC Bank & Osome Provide Customer-Friendly Services

With the new offer, SMEs can get both cutting-edge online tools and use skilled professionals to apply them for the best results.

OCBC Bank's customers can now get an Accounting & HR package that includes Xero, a widely-used accounting software, and Talenox, a popular and flexible payroll tool. 

In addition, Osome offers its remote accounting & taxation service at a discount. 

On the client's side, using the package looks like this: Osome professionals prepare and file all the necessary paperwork using Xero and Talenox while keeping the client company updated. 

Osome currently serves more than 3,300 SMEs. Xero and Talenox are the primary tools Osome uses to manage its customers' accounting and payroll. Osome has been named Xero Platinum partner and has achieved Talenox Gold status. 

With a history of helping businesses adopt new technologies, Osome has also been appointed the Pioneer of Cloud Community Network by IMDA to help SMEs go digital.

Cost Savings Through Digitalisation of Professional Accounting & Payroll

SMEs that subscribe to Xero and Talenox typically pay $820 for a 12-month subscription. Now, with the new package, a company pays $50 a month and gets 1 year of: 

• Osome Starter Accounting that includes bookkeeping, accounting, taxation, and all the essential reports (up to 20 transactions a month).
• Xero subscription;
• Talenox Suite (up to 5 employees);

The company saves a total of S$1,080 on this offer. After the first year, OCBC SMEs can continue to enjoy a preferential rate of $140 per month for the same package, for six months.

Local companies with OCBC business accounts can enjoy this offer 

A business that can benefit from the offer: 

• is registered and incorporated in Singapore with a valid UEN issued by ACRA;
• is a Private Limited Company;
• has at least 30% ownership/shareholding by Singapore citizens and PRs;
• has group annual sales turnover of no more than S$100 million or has no more than 200 employees;
• has an OCBC business account or is willing to open one;
• is a first-time applicant for the Start Digital Pack;
• is not already currently using Xero & Talenox.