From XU Magazine, 
Issue 19

Driving the adoption of new technology in Singapore

An event bringing cutting-edge digital accounting and finance solutions to Singaporean SMEs

Digital innovation is revolutionising accounting and financial management across the globe, presenting an enormous opportunity for SMEs and accounting firms across Asia to streamline their businesses. In 2018, Singapore topped the Asia Cloud Computing Association’s 2018 Cloud Readiness Index rankings and as such has become host to the Accounting & Finance Show Asia, taking place in Singapore on 8-9 October. This show will bring together the latest technology and solutions, accountancy practices, experts, advisors, consultants, and SMEs to drive digital adoption across the region…

With new technologies such as cloud accounting, and a plethora of cutting-edge applications, software and services, accounting processes are being streamlined and are becoming more efficient. These world-class financial solutions are low-cost, scalable and mobile – available to not only large enterprises with big budgets, but SMEs as well. Accounting and finance technology solutions providers who have had success in mature markets such as Australia and the UK should now look to Singapore and Southeast Asia as a key growth opportunity.

An event for SMEs

For a market such as Singapore, where SMEs account for 99% of all enterprises and 65% of the total workforce, it is integral to provide the business owners and finance professionals with knowledge of the latest technologies and tools available to drive up adoption. The Accounting & Finance Show provides an accessible and free to attend platform where SMEs can discover the opportunities for their business from a conference programme consisting of nine free to attend theatres. In addition, they will have the opportunity to meet with 100 local and international exhibitors, showcasing digital solutions to support their business.

Government Support for SMEs to go digital

The event will take place alongside a range of Government initiatives, driving Singaporean SMEs and Accounting Firms to adopt digital technologies. Over the past two years, several major Government initiatives have been launched, making millions of dollars in grants available to Singaporean SMEs to adopt such new technologies.

In February 2017 the Singapore Government launched its SMEs Go Digital Programme as part of its 2017 Budget, providing funding support for up to 70% of the qualifying costs to adopt new digital solutions. The Government has since pledged to continue and extend these plans beyond 2019.

In June 2018 the Singapore Accountancy Commission launched its Digital Transformation for Accountancy Programme investing $2.4m SGD to help Small and Medium Practices adopt baseline technologies. With such support available, thousands of SMEs have adopted new digital solutions.

Xero in Singapore

Xero will be the Title Sponsors once again for the Accounting & Finance Show Asia this year. Having opened its Singapore office in 2016, Xero’s business has gone from strength to strength across Asia since putting a team on the ground just three years ago.

The Accounting & Finance Show Asia has been a fantastic platform for Xero and its Connected App Partners, as Kevin Fitzgerald shared after the 2018 Launch Show:

“Accounting and finance technology has evolved such that manual tasks have given way to efficiencies and timely business insights, signifying greater opportunities for accounting/bookkeeping professionals and business owners alike. The A&F Show has beautifully captured the transformation in this space, and we are delighted to join the show again this year in Singapore and Hong Kong to shed light on digitalisation trends, and how businesses and practices can leverage Xero’s growing ecosystem to achieve greater success.”  – Kevin Fitzgerald, Regional Director, Xero Asia

What’s new for 2019

With a launch event in 2018 that attracted 2,788 attendees, 120 speakers, and 70 Sponsors and Exhibitors, the 2019 edition promises to be bigger and better on all counts.

As accounting firms and SMEs work to digitalise their accounting software, it’s evident that this throws up challenges and opportunities for them to upgrade systems and processes across their entire business. For 2019, the Accounting & Finance Show will incorporate two new co-located shows: the HR & Learning Show Asia and the Business Financing Show Asia. These amalgamated events present a unique opportunity for attendees to explore a wider range of solutions to streamline their business along with information and support on how they can access the financing and grants available to enable them to invest in their business.

Get involved…

The Accounting & Finance Show Asia will take place on 8-9 October at Suntec Convention Centre Singapore. The event and its conferences are free and a must-attend for SMEs and accounting firms with operations in Southeast Asia. For technology solution providers and Xero App Partners looking to explore the Asia market, this event offers a fantastic platform to meet with 3,500 finance decision makers from across Southeast Asia.

Why leave it there?

Find out how you can get involved as a Sponsor, Exhibitor, Speaker or Attendee

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