Revolutionizing accounting in PH | The Final Word
Summary
TLDRMichael Aguirre, founder of Babylon 2K, discusses his innovative online marketplace for accounting services on 'The Final Word'. Launched in 2014, Babylon 2K aims to revolutionize the auditing and accounting industry by connecting clients with a network of specialized accountants across the Philippines. The platform offers a convenient, efficient solution for freelancers, social media influencers, and sole proprietors, providing access to certified public accountants (CPAs) and non-CPAs alike. Aguirre emphasizes the platform's user-friendly interface, where clients can book an accountant like a taxi service, ensuring timely and professional financial assistance.
Takeaways
- 😀 Babylon 2K is an online marketplace for accounting assistance, accessible 24/7.
- 🏢 Founded by Michael Aguirre, Babylon 2K aims to revolutionize the auditing and accounting industry.
- 🌐 The concept of Babylon 2K was inspired by Aguirre's travel experiences and the need for a different approach to accounting services.
- 📚 Aguirre is a practicing accountant in the Philippines and part of UHY MLA Gear and Company.
- 🚫 The firm faced rejection from international networks due to its small size, which motivated the creation of Babylon 2K.
- 🔍 Babylon 2K caters to freelancers, social media influencers, and sole proprietorships who need accounting support.
- 📍 The platform has accountants located in various key areas in the Philippines, including Metro Manila, Baguio, Cebu, and Davao.
- 🔗 Users can access Babylon 2K by visiting babylon2k.org and 'booking' an accountant similar to how one would book a taxi.
- 📋 For those unfamiliar with accounting, Babylon 2K provides assistance with income tax returns and financial statements.
- 💼 The platform's accountants are either CPAs or non-CPAs with experience, and they undergo a selection and training process.
- 💰 Babylon 2K's services are priced reasonably, with the aim of providing efficient and cost-effective accounting solutions.
Q & A
What is Babylon 2K and what does it offer to its users?
-Babylon 2K is an online marketplace that provides 24/7 access to accounting assistance. It is designed for individuals and businesses looking for accounting and auditing services, offering a network of specialized accountants across the Philippines.
Who is Michael Aguirre and what is his role in Babylon 2K?
-Michael Aguirre is the founder of Babylon 2K. He is a practicing accountant in the Philippines and was inspired to create Babylon 2K to offer a different and accessible approach to accounting services.
What was the motivation behind the creation of Babylon 2K?
-Michael Aguirre started Babylon 2K as a response to the challenges he faced as a small accounting outfit being rejected from international networks. He aimed to create a system that would make his services stand out and be accessible to a wider audience.
How did the concept of Babylon 2K originate?
-The concept of Babylon 2K originated during Aguirre's travels and studies abroad in 2014. He wanted to devise a system that would distinguish his accounting services and make them more accessible.
What services can freelancers and social media influencers expect from Babylon 2K?
-Freelancers and social media influencers can expect to find specialized accountants who can provide both online and on-site assistance for their accounting needs through Babylon 2K.
How can users access the services of accountants from Babylon 2K?
-Users can access the services by visiting babylon2k.org, where they can book an accountant similar to how one would book a taxi, with the accountant coming to them either online or offline.
What kind of support does Babylon 2K offer for individual taxpayers who are not familiar with accounting?
-Babylon 2K offers support for individual taxpayers by providing access to accountants who can assist with tasks such as filing income tax returns, even if they are not well-versed in accounting.
What is the process for users to sign up and start using Babylon 2K's services?
-Users can sign up by visiting the Babylon 2K website, where they can book an accountant and receive assistance with their accounting needs, whether it's through a DIY approach or by requesting a customized solution.
Are all the accountants on Babylon 2K certified public accountants (CPAs)?
-While many of the accountants on Babylon 2K are CPAs, the platform also includes non-CPAs with relevant experience. There is a selection and accreditation process in place to ensure the quality of the accountants.
How does Babylon 2K ensure the quality of the accounting services provided?
-Babylon 2K has an admin team that conducts quality checks on the reports and outputs submitted by the accountants. This ensures that the services provided meet the platform's standards.
What is the pricing range for the accounting services offered by Babylon 2K?
-The pricing for Babylon 2K's services is not explicitly stated in the script, but Aguirre mentions that the services are efficient and cost-effective, avoiding unnecessary travel and accommodation expenses.
Outlines
📈 Introduction to Babylon 2K Accounting Services
In this segment, the founder of Babylon 2K, Michael Aguirre, discusses the inception and purpose of his company. Babylon 2K is described as a 24/7 accessible platform for businesses and individuals seeking accounting assistance. Aguirre explains the motivation behind creating Babylon 2K, which stems from his personal experiences as a practicing accountant and the need for a system that could differentiate his services. The platform aims to provide access to accountants across the Philippines, including remote areas, offering both online and on-site assistance. The discussion also touches on the convenience of accessing Babylon 2K's services for various clients, such as freelancers and social media influencers, who may not have their own in-house accountants.
🔍 Babylon 2K's Accountant Selection and Pricing
This paragraph delves into the process of selecting and training accountants for Babylon 2K. Aguirre highlights the platform's rigorous accreditation and selection process, ensuring that the accountants are either Certified Public Accountants (CPAs) or have significant experience in the field. The conversation also addresses the pricing of Babylon 2K's services, with Aguirre emphasizing the efficiency and cost-effectiveness of their offerings. He mentions the elimination of travel and accommodation costs by providing online services, which is a significant advantage for clients. Additionally, Aguirre assures the quality of the service by mentioning the internal quality checks that Babylon 2K has in place to ensure the accuracy and reliability of their reports.
Mindmap
Keywords
💡Babylon 2K
💡Accounting Assistance
💡Auditing
💡Financial Transactions
💡Freelancers
💡Social Media Influencers
💡Sole Proprietorships
💡Income Tax Returns
💡Certified Public Accountants (CPAs)
💡Online Services
💡Quality Check
Highlights
Babylon 2K offers an all-day accessible marketplace for accounting assistance.
Founder Michael Aguirre discusses the innovative concept of Babylon 2K.
The idea for Babylon 2K originated during Aguirre's travels and studies abroad in 2014.
Aguirre is a practicing accountant in the Philippines with UHY MLA Gear and Company.
Babylon 2K aims to provide a system that makes accounting services different and accessible.
The platform was created to address the rejection of small firms from international networks.
Babylon 2K is designed for freelancers, social media influencers, and sole proprietorships.
The platform connects users with accountants across the Philippines, including remote areas.
Users can access Babylon 2K services by visiting babylon2k.org.
Accountants on Babylon 2K are ready to assist both online and on-site.
Individual taxpayers can find help with income tax returns through Babylon 2K.
The platform offers a booking system similar to a taxi service for accountants.
Babylon 2K's services are efficient, saving users travel, hotel, and accommodation costs.
The platform has a quality check system to ensure the accuracy of reports.
Accountants on Babylon 2K are classified and trained based on their experience and qualifications.
Babylon 2K provides a reasonable pricing structure for its accounting services.
The platform's name is inspired by the book 'The Richest Man in Babylon'.
Babylon 2K aims to help clients become financially successful through its services.
Transcripts
so do you need help in recording and
balancing the financial transactions of
your business well this firm offers an
all-day accessible Marketplace for
people looking for accounting assistance
Babylon 2K founder Michael Aguirre joins
us tonight on the final word thank you
so much for joining us Mike thank you
thank you Rico thank you my privilege
having here tell us why did you organize
Babylon 2K which a lot of people are
saying is the grab of auditing and
accounting
thank you for asking that Rico
uh before I answer that let me thank you
your show for inviting me
how did they come up with Babylon 2K I
would say
this is a product of my
running
and what they call the default mode
Network
I've been traveling and I've been
running
and I this concept was started it
started in long time ago 2014 when I was
studying abroad and while traveling
from one place to another like
Philippines like to San Francisco that
was like 13 hours
I tried to come up I tried to come up
with
A system that would make us different so
just for everyone's knowledge I am a
practicing accountant in the Philippines
under our outfit uhy MLA gear and
Company
and I try to be different
and aside from being different
there's a lot of projections so they as
they say
necessity it's the matter of inventions
and I proved that
because the rejection at the time when
we started our firm in 2006
we were applying for an international
networks and they were
rejecting us because we were
a small outfit and you know what my
accounting and auditing is now a
necessity three weeks before the filing
of the income tax returns on uh April
15. so how can they basically gain
access to Babylon 2K I know a lot of big
companies have their own accountants but
for Freelancers
for uh social media influencers for sole
proprietorships is this the venue for
them to gain access to accountants
across the country
pretty much Rico Babylon 2K is the right
venue for them
we have Specialists or accountants no as
we call them
all over the Philippines
especially if you have needs from one
place to another not only in the center
like in Metro Manila but we have
accountants like in Baguio in panai area
in Cebu and Davao and all other key
locations so if they have if they have
if they need a a an assistance
whether it's online or on site we have a
ready accountant for them which is
actually the reason why Babylon 2K is
made for you know uh Mike a lot of our
individual taxpayers social media
influencers I mentioned
um Freelancers are not really into
accounting some of them are lost
how will I find my income tax returns
if they sign up with Babylon 2K
how can they gain access to these
accountants from Luzon visayas and
Mindanao or wherever they are in the
country
thank you for that Rico
just type in babylon2k.org and they will
leave you or are users or our potential
users wherever they are we have
accountants it's like grab a taxi so you
book a taxi taxi will come to you right
here you book an accountant accountants
will come to you again wherever they're
located whether it's online or offline
so it's never too late right now uh for
individuals to file their income tax
returns three weeks before what do they
need to submit once they sign up what
kind of documents it's never too late at
all Rico because taxes as you know is
the light blood light blood over our you
know government of course the ideal time
is post December 31 or post their
accounting year no but if they feel if
they have not complied yet their filing
of ITR and financial statements they can
book a service use a DYI or a refuge the
request for a code or system or I admin
people will be ready to help them at any
time because so basically tell us Mike
how were you able to pull all of these
accountants around the country and are
all of these accountants CPAs certified
public accountants thank you for that
question again Rico you know Babylon the
name is Babylon 2k comes from the book
the richest man in Babylon and
clients or accountants if they sign up
here they could be one of the richest in
the country Rico
right
um well they can what they can do is
they can
um again with the accountant
um they can link up not with any
accountants in in the country and why
what happened to this Specialists or
accountants most of them are actually
CPAs
or non-cpas but we have our betting
process now we have our our selection
process we accredit them and the system
itself actually we have accountants who
are classified under f up to AA F if you
are non-cpa but you have experience e if
you are CPAs or CPAs with no experience
or with a little bit of experience and
then then we train them after after the
time that they reach the higher Echelon
of the higher if they sign up with
Babylon 2K how much is the accounting
service
it's time for me to code to give them a
price right the price range a ballpark
figure Mike well I would say I would
answer that that our price is quite
reasonable the reason why Babylon 2K is
there is they actually the service is
quite efficient for example if you're
based in Cebu you don't have to travel
to Cebu because we have a service for
you so you avoid Hotel you avoid travel
costs you avoid accommodation costs you
avoid food for some for some matters and
everything is done online everything is
done online but we have our admin people
who can
Quality quality check no good quality
check the outputs no every report that
we submit we go well thank you so much
for sharing with us Babylon 2k's uh
auditing and accounting services thank
you so much for joining us on the final
word Michael Aguirre the founder of
Babylon 2K
God bless you Rico and thank you for
giving us the opportunity to promote
Babylon 2K
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