McLedger, the region’s first local fintech cloud platform, has been named by Dubai SME as the official online accounting solution for UAE-based start-ups.
It will be the single platform that will manage an integrated solution for Dubai SMEs, the Dubai Economy agency mandated to develop the SME sector. Using cloud-based accounting powered by artificial intelligence (AI) and experienced accountants, McLedger will enable small business owners to effortlessly manage their accounting budget and save up to 85% on their total expenses.
According to data from the Ministry of Economy, SMEs account for over 94% of all businesses operating in the UAE. Of this number, 73 percent of SMEs work in the wholesale and retail sector while 16 percent are in the service sector and 11 percent in the industrial sector.
The Dubai SME has strategically aligned with McLedger as an accounting partner to promote innovation and leadership within UAE start-ups across all segments of the small and medium business sector. Through McLedger’s range of online accounting services, the Dubai SME will now support UAE-based entrepreneurs in all phases of their development and to grow their business effortlessly.
Regional and international recognition
McLedger is listed as one of the service providers for Sheraa, a Sharjah-based incubator, and Hub71, the global tech ecosystem enabling startups in the heart of Abu Dhabi. The platform has also integrated with STRIPE, one of the largest online payment gateways, to simplify the payment process between a business and its customers. This makes the process of collecting and sending payments easier by simply sharing a link from McLedger’s billing.
As the first fully integrated fintech platform, McLedger has been recognized internationally by leading e-commerce platforms Amazon, Shopify, Salla and Magento as one of their preferred service providers in the region to help businesses in line to develop professionally.
Local significance and growth
According to the McLedger spokesperson, the recognition by Dubai SME is in line with the Dubai government’s vision to provide UAE start-ups with the necessary support, from tracking their finances to simplifying other official procedures. In addition, McLedger is adding sustainable growth to all areas of SME business at different stages.
“In line with the Dubai government’s vision for SMEs, McLedger is strategically positioned to drive the required change in the finance and accounting industry by providing SMEs with a cost-effective and secure digital accounting platform. McLedger enables SMEs to become more agile and innovative in their product development and service delivery by combining innovation and creativity. This ensures sustainable growth and a competitive business environment, as most of the accounting processes and workload are minimized by combining industry expertise and AI, ”said Ahmad Al Moosa, co-founder of McLedger.
According to the UAE government, SMEs are vital for economic diversification, job creation, growth and financial sustainability. Thus, McLedger’s unique characteristics have gained a local reputation for providing quality accounting services to entrepreneurs and turning their daily accounts into visual financial statements and reports.
McLedger helps SMBs maintain proper ledgers by combining people and AI to improve efficiency in an easy-to-use digital platform. The platform also provides entrepreneurs with essential bookkeeping services which are performed by certified FTA certified accountants and tax agents.
McLedger offers various packages for startups, giving them access to a wide range of affordable solutions. For more information on McLedger, small business owners can visit https://mcledger.co/.