Beyond the AI hype: how Osome delivers real speed and insights

Summary:

• Entrepreneurs commonly spend over a third of their work week on administrative tasks. Osome aims to address this and free up founders’ time.
• Osome’s original chat-based interface became a bottleneck, driving clients to constantly ask for information. This led to a transformation of its platform, focusing on high user engagement with a low contact rate.
• The revamped platform is built on a deep understanding of users’ pain points and leverages emerging technology like large language models to improve efficiency. However, the human touch remains critical to Osome’s solution.
• Explore Osome’s latest features and discover how real-time insights and expert support can streamline your business operations.

For most founders, the goal is to build something great, putting their time and energy towards strategy, innovation, and growth to take their product to the next level.

However, a survey by virtual assistant company Time Etc found that entrepreneurs spend over a third of their work week on administrative tasks such as invoicing and data entry, eating up valuable time that could be better used elsewhere.

Photo credit: Daniel Pawer / Shutterstock

This is the core problem that Osome, a company providing incorporation, bookkeeping, and accounting services, set out to solve.

When Osome launched in 2017, it offered a unique blend of human assistance and digital convenience. It combined the expertise of accountants and corporate secretaries with a simple, accessible solution that mimicked an everyday platform: a messaging app.

But as the company grew, the very interface designed for convenience began to show its limitations, necessitating a transformation to better serve its customers.

In with the new

Osome was initially designed as a chat-based system that allowed users to upload documents to the platform and ask questions about their paperwork or finances as if they were texting a friend.

“The interface originally looked a bit like WhatsApp,” recalls Tamas Gogge, Osome’s chief product officer.

While novel, this chat-based interface created scaling difficulties and a frustrating loop for customers.

Tamas Gogge, chief product officer at Osome / Photo credit: Osome

“The main challenges centered around having to ask for things that you don’t really think you should be asking,” Gogge explains. “If everything is in a chat, it’s great because you can always ask. But it also means you have to ask all the time.”

It was apparent that a transformation was in order. This led to a fundamental shift in Osome’s product philosophy.

The new goal was clear: achieve high user engagement with a low contact rate.

“People should log in because they see a lot of very useful information, but they shouldn’t have to ask for it,” says Gogge.

A data-driven journey to a better product

When Gogge joined Osome in July 2023, he saw a company with a distinct and pressing market need. Despite the gaps in its product at the time, Osome was growing, retaining a high number of clients, and generating significant revenue.

The challenge wasn’t finding product-market fit; instead it was maturing the platform to scale effectively without losing the human touch that clients valued.

Explore Osome’s latest features on its website!

The product development team adopted a multipronged approach to identify and address user pain points. They implemented real-time sentiment analysis to quantify issues from thousands of client conversations and closely monitored net promoter score data.

Different functional leaders from multiple markets at a meeting in Osome’s Singapore HQ office. / Photo credit: Osome

“I know across all the client conversations in real time what topics they’re talking about and which clients are unhappy,” says Gogge. “It’s very data-based.”

Beyond hard data, the team had extensive conversations with its own customer-facing operational, sales, and marketing teams.

This was supplemented by a structured user testing process, recruiting existing clients through the app and even seeking quick feedback from employees who run a side business. This rigorous feedback loop ensures that every change is validated against real user needs.

Building for speed and insight

Armed with insights, the team revamped Osome’s internal and external-facing platforms. The accounting and bookkeeping services were identified as the starting point for this overhaul.

This decision was driven by data showing that the biggest client pain points originated there, Gogge explains. Tackling the problem affecting the largest number of users would lead to the most significant positive change.

The team then got to work, breaking down traditional accounting workflows into smaller, ticket-based steps handled by specialized teams and bolstered by automation.

A key driver of this transformation has been the strategic implementation of large language models. Gogge highlights a dramatic improvement in document processing, which forms the backbone of bookkeeping.

“We went from an average recognition time of three days, down to three minutes,” he reveals. “We had a 300x improvement in speed, and that’s the core focus because we need to digest and interpret all your documents in real time.”

Osome’s revamped platform / Photo credit: Osome

This leap in efficiency was not just an internal metric; it directly resulted in a superior customer experience. Instead of waiting for monthly or yearly reports, clients could now get near-instant visibility into their finances.

Osome has also embraced AI across its operations, deploying sales bots and providing agent support tools. But Gogge is pragmatic about it, zeroing in on where AI can add real value instead of just implementing the tech for the sake of it.

“The challenge for us is making sure we keep the focus on real user problems,” he asserts.

“I’ve never met a single client who says they want more AI. We have to be really conscious of the balance to make sure that we generate happy clients,” he adds.

Of course, the option to speak with a human expert remains available. Gogge explains that when it comes to finances and taxes, trust is paramount. Clients need the peace of mind that comes from knowing a certified professional is available for complex planning and tough decisions.

Clients still place higher trust in humans for “really important things,” he stresses.

Positive reception

The shift away from a chat-heavy model has been met with positive feedback. Client complaints are steadily decreasing while customer satisfaction has gone up.

“None of the issues come from clients saying, ‘Oh, I wish I had more chat interface.’ I’ve heard that zero times,” he says.

Image credit: fizkes / 123RF

A recent study by Osome also showed that 40% of clients feel the platform has improved significantly in the past year. However, Gogge knows there’s still work to be done.

“Clients want even faster answers or they would like to see even more things in the interface. We’re aware of this and we’re trying to build it,” he says.

Looking ahead, the company is set to launch a real-time analytics function in the fourth quarter of 2025. This feature will allow clients to see their data instantly and interact with their accountants on specific transactions within the platform.

Osome is also planning to enhance its company management and advisory services, aiming to make corporate secretarial tasks as seamless and platform-based as its bookkeeping engine.

“The journey is about speed and insights,” says Gogge. “In the next month or two, so many things are coming together that are super-focused on reducing customer effort.”

“And when it comes to service, that’s critical,” he concludes.

Osome empowers entrepreneurs by minimizing administrative tasks through AI-driven digital solutions and expert services in incorporation, accounting, payroll, and tax compliance. By simplifying these processes, Osome enables entrepreneurs to focus on business growth.

To explore its latest features and discover how real-time insights and expert support can streamline your operations, visit the Osome website.

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Keen on starting a business in Singapore? Osome has a handy guide on everything you need to know to get things going. Fill in the form below to get your copy of A Step-by-Step Guide to Setting Up a Company in Singapore today.

This content was produced by Tech in Asia Studios, which connects brands with Asia’s tech community. Learn more about partnering with Tech in Asia Studios.