Mazars and Omise Connect Through Xero
Omise is a leading payment gateway for the Asia Pacific region based in Thailand, providing a secure white-label solution to merchants and enterprises. Under the concept of "Online Payment for Everyone", Omise recently raised USD 17.5 million in a Series B round of funding to develop its payment gateway system and to expand its reach across businesses both big and small.
Keywords: Mazars, Thailand, Omise, Xero, accounting
23 December 2016
Currently available in Thailand and Japan, Omise will soon launch its services in Indonesia, Singapore, and Malaysia. With so many countries in its future, Omise was keen to build a firm financial infrastructure from the beginning. Luke Cheng, Omise CFO, knew that “this required two things: an accounting service that understood the cross-border requirements of a fast growing Fintech company, and a flexible, scalable accounting system that could be aligned across all regions.” Mazars and Xero combined together to provide the perfect solution to this problem. Mazars, with its integrated international partnerships, was uniquely positioned to provide a solution that could be easily rolled out into each country in which Omise operates.
Fundamental to Mazars' approach was the use of Xero cloud accounting software. Jonathan Fryer, Partner at Mazars, explained, "Running on Xero's single platform enables Omise and Mazars to work together as one team across all locations. Mazars' regional accounting service ensures that Omise has up-to-date accounting data to manage its cash flows, as well as comprehensive monthly accounts at the cost-centre, country, and group level.