Xibo.sg
How women & AI are shaking up the accounting scene

Ishi Singh, Managing Partner

- Women at Xibo.sg make up 60 per cent of its payroll

- Globally women account for only 20-25 per cent of the STEM workforce

But the company’s gender agenda runs deeper. Most of its female staff are stay-at-home moms in their late thirties and forties who juggle work and home duties simultaneously.

Gender inclusivity at Xibo.sg

When it came to recruiting, Chief Product Officer and COO Saba Khan explained, “We were approached by a number of women who were passionate, looking for an avenue to contribute professionally, and eager to restart their careers.”

Maanasa Srinivasan was one of them. “I love new challenges and was looking for a company that would give me opportunities to learn; one that focused on results vs. micro management.” Today, this mom-of-two heads the Customer Success team at Xibo.sg.

For telecommuting moms like Maanasa, intangibles such as flexible hours and employee autonomy matter. “Spending time with family is something I value deeply... and I appreciate that I get to set aside certain times in the day just for my kids and husband,” she said.

The company also aims to nurture and train budding female innovators. Under its internship initiative, NTU engineering undergraduates Vaishnavi K. and Harini K. did data cleaning and basic coding work for Xibo.sg.

“I learnt a lot from the engineering team…and the accomplishment I felt whenever I completed an automation tool was so satisfying,” Vaishnavi reflected. Both are aspiring data Scientists.

At the heart of Xibo.sg’s business strategy is its AI tech in accounting. While most of its competitors are only thinking of producing financial reports, Xibo.sg is looking at alleviating the sector’s pain points. The company targets small business owners who want access to highly automated, super accurate, yet cost-effective accounting and tax services.

- Increasing costs remain one of the biggest challenges facing Singapore small businesses

- Companies should maximise the use of technology to improve efficiency and cost effectiveness

Thus, Xibo.sg has developed a plethora of automation tools that eliminate time costly accounting tasks. Industry wide, such tech can also benefit both in-house and outsourced accountants.

For example, its AI driven CRM automates the tax preparation workflow using advanced deep learning and can generate a full Form C/C-S corporate tax return in under a minute.

Lead machine learning engineer, Arpitha Nagaraja said, “The beauty of AI tech is that it continually learns from our customers’ business data to deliver more precise insights over time.”

Therefore, Xibo.sg’s customers are able to make “informed decisions based on accurate information.” A big plus in today’s competitive landscape.

The future

By leveraging the capabilities of female talent and AI, Xibo.sg is pushing the boundaries of what women and technology-powered accounting services can do.

Lead marketing officer, Sylvia Wen said, “I discovered it wasn’t too late to redefine myself outside of motherhood and to push forward. Here, I can be a mom, wife, problem solver, and innovator.”

It’s something that resonates with COO Saba Khan as well. “Having something come to life by applying my skills gives me a high. It could be the joy in my daughter’s eye as I whip up a well-relished meal, or getting our company’s first five-star testimonial,” she said.

In this pandemic environment, small businesses are particularly vulnerable. But just as Saba did when her former role at a foreign bank was affected during a structural overhaul, the inventive ones will likely pivot and turn to technology.