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The Federal Government continues to show its support for innovative AI accounting app XBert and their mission to help business and their advisors across the globe.
The support comes in the form of an added $250,000 as part of the AusIndustry Accelerating Commercialisation Grants. This follows $350,000 awarded last year.
“It’s really exciting times here at XBert and it’s awesome to be backed by the Government again, to continue rolling out what we know is game-changing software for the accounting industry,” Co-founder and director Troy Brown said.
“This grant funding has allowed us to develop a solution so valuable to our users that some of them have started requesting if they can invest in us. Huge congrats to the XBert Team who have been working so hard to strengthen our product offering here and overseas.”
The company has come a long way from the founders working from a spare bedroom in their home. In the past 2 years, the company has grown to having 2 office locations, 15 full time staff and 3 external advisors that are helping the company achieve milestones.
“And, we have plans to double our staff growth here in Coffs Harbour over the next 12 months as we continue our international expansion.”
AusIndustry's grant program is highly competitive and is awarded to businesses innovating for the future, supporting them to "scale and connect with new markets".
Despite the world being turned upside down in the past 18 months, the XBert team have been working hard to evolve their product to ensure it eases many pain points experienced by accounting professionals today.
The comprehensive AI Audit and machine learning software has been integrated with practice management solutions, allowing accounting professionals to trust the data and spend more time focused on what matters: helping business with smarter advice to make better decisions.
“Although you can't prepare for everything, if you have the right tool giving real-time visibility over your business health and ensuring accurate data and insights, then you can make informed decisions. Knowing your business position at any time and making smart, data-driven decisions has never been more critical,” Troy said.
“Massive thanks to all our users who help shape our product roadmap and to those who supported our grant submission. This Grant means we can continue to accelerate developing and expanding our app in ways that our customers want."
According to XBert co-founder Aaron Wittman, research and exploration are underway to develop XBert's risk-solving algorithms for industries such as agribusiness, health and medicine, retail and mining.
“We will continue to scope the development of international risk alerts for specific regions and industries, identify new data and software integration sources, including other cloud accounting platforms, and identify partner opportunities. Our collaborative approach proves we can deliver a truly customer-led, purpose-built, innovative, scalable solution that makes a real difference to businesses around the world,” Aaron said.
With things moving quickly and exciting developments on the horizon, the team are now seeking investment for further international expansion.