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In many ways, finding a signature scent can be like hiring the right accounting firm to handle your business finances. Both can feel transformative when they meet the complexities of your needs. For multi-brand fragrance company, Aurel Singapore, the need to support planned growth gave impetus for finding a professional accounting service. What they did not expect were the time-saving efficiencies that would spring from using a technologically advanced accountant like Counto.
Background:
Aurel sells a wide range of perfumes—from designer to affordable brands—online and directly at the Aurel Experience Center. Their second Experience Center is set to open in Malaysia in early 2022.
They also run a thriving wholesale perfume operation, distributing several fragrance labels within Southeast Asia.
In recent years, the company has experienced a rapid increase in sales in Singapore and across the region, thanks to the rise of e-commerce platforms.
Challenges:
“As a growing SME, the biggest problem we were trying to solve was accounting. A traditional accountant would need a lot of human intervention and be very time-consuming,” said Nitya Sabhnani, co-founder of Aurel.
“Our team was keen to conserve valuable resources towards building and expanding the business at this crucial stage,” she continued.
Luckily, an industry expert pointed Nitya in the right direction: Counto was a new generation accounting firm that could “provide a hybrid model of accounting automation, yet have a knowledgeable team of business experts to aid in the process when required.”
Solution:
In addition to the reasonably priced (unlimited transactions) accounting plans, the Counto platform brought new efficiencies into operations.
Nitya explained, “During the onboarding process, we were personally guided on how to use their online platform… we can digitally upload all our supporting (business) documents with ease… with the ability to look or download financial statements prepared by the accountant anytime.”
Another big plus: “Counto delivers prompt service and always follows up with any accounting or tax related issues we may have. As a client, we consistently feel supported and looked after by the team.”
Outcome:
The e-commerce industry has exploded over the past few years. However, selling through multiple channels and currencies come with a whole host of challenges.
From tax optimisation to inventory management to accounting accuracy to payment automation, Counto provides the tools, capabilities, and experts for Aurel to enter new marketplaces with confidence.
Nitya said, “With Counto, financial compliance isn’t as daunting as we used to think it would be for an SME… it truly has saved us so much time, and our concerns about accounting and expanding our business have ceased.”
One thing is for sure: Like a good scent, outsourced accounting can be an incredibly comforting and powerful experience for small businesses.
Want to have a trusted partner that is taking care of your accounting, so you can focus on growing your business? Speak to us instantly on our chat bot or contact us today!
