To strengthen business resilience in the post-COVID-19 operating environment, 3E Accounting is investing in robotics technology to build the future of accounting and become Asia-Pacific first robotic accounting firm among small and medium sized enterprises (SMEs) and small and mid-sized accounting practices (SMP).
3E Accounting Digital Master Plan
3E Accounting Founder and Chief Technology Officer Lawrence Chai formed the firm’s Digital Research and Development (R&D) team to spearhead development in new technological growth areas like robotic business automation (RPA), Machine Learning (ML) and Artificial Intelligence (AI). The Digital Master Plan sets out 3E Accounting’s ambition to become the first global SME robotic accounting firm by mapping out future industry trends and charting a roadmap for action.
With Digital Transformation, 3E Accounting can digitally process company incorporation, accounting, tax, human resource and corporate secretarial services for clients. A company incorporation process that requires two days has been shortened to within 1 hour with technology. 3E Accounting can go 100% digital and paperless through the deployment of cloud and automation solutions, resulting in a 50% increase in productivity.
Digital Transformation – COVID Success Story
Digital transformation enabled the successful Virtual Opening of 3E Accounting Limited in Hong Kong in July 2020 despite COVID-19 through digital tools like multiple video conferencing platforms, Cloud computing and Google Workspace. Investment in technology has enabled 3E Accounting to transcend geographical barriers in its overseas expansion through systematic business continuity planning.
“COVID-19 is a game-changer for businesses. The ability to run full remote business operations has validated 3E Accounting’s digital transformation efforts where there was previously little difference between firms who went by the conventional or digital routes, and gives greater impetus to become the world leading robotic accounting firm. The use of intelligent automation technology will ensure 3E Accounting always remains far ahead of competitors.”
– Lawrence Chai
Founder & Chief Technology Officer
3E Accounting Group
Massive Investment in Technology
3E Accounting has invested over S$2.0 million in research and development of automation robotics. Even without venture capitalist funding, 3E Accounting has made a giant leap in technology development. New technology initiatives including two robots, Financial Report Robot and a Robotic Process Automation (RPA) Robot save 90% of time spent on tasks, allowing 3E Accounting to support a much bigger client base and providing 4x advantage over industry peers and become a robotic accounting firm that is fast-growing and future-ready in the competitive market.
Building the Future with Robotics
By adopting emerging robotics technology, 3E Accounting’s ambition is to build a future accounting and professional services firm where intelligent robots are deployed to perform tasks and collaborate with human co-workers.
As 3E Accounting celebrates its 10th anniversary, the firm is exploring capitalization options and does not preclude Pre-Series A funding via private equity markets to exponentially expand its client base and product offerings in advanced robotics, new markets business advisory, Virtual Chief Financial Officer (VCFO), and technology R&D.
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