Revolutionizing accounting in PH | The Final Word

Summary

Michael 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.