DBS Bank of Singapore is partnering with Xero, the global small business platform, for encouraging more SMEs to adopt cloud-based accounting and software services. Offered in collaboration with Enterprise Singapore and Info-communications Media Development Authority (IMDA) under the SMEs Go Digital Program, eligible SMEs referred through DBS Bank will be offered 6 months of free access to the Xero accounting platform to transform their digital capabilities and prepare themselves for the digital economy. Using the software, SMEs will be able to easily create e-invoices with automated reminders, minimising the risk of cash flow issues resulting from late payments from their customers. The Xero platform integrates with an ecosystem of over 800 third-party apps that support business activities such as payroll, inventory and time tracking that save time on administrative tasks so businesses can focus on revenue-generating activities.
