- Online accounting startup Osome missed deadlines, resulting in fines for customers.
- Staff exodus and buggy software disrupted normally reliable service.
- Company promises expanded accounting team and process tweaks to improve capacity.
Tech in Asia recently reported how online accounting startup Osome is facing a wave of customer complaints after repeatedly missing regulatory filing deadlines, resulting in some clients incurring financial penalties.
Several founders told Tech in Asia that Osome failed to submit required company paperwork on time over the past year. While Osome eventually repaid any fines, the mistakes have caused headaches for its busy customers.
Challenges with staffing
Osome blames the issues on an exodus of accounting staff starting in late 2022, which left the team understaffed and overwhelmed.
The company lost key personnel faster than it could hire and train replacements.
Osome was also transitioning to new internally built accounting software, which proved buggy and time-consuming for accountants to learn.
Osome’s plan for recovery
The understaffing and software growing pains disrupted Osome’s normally reliable service. Customers who had praised Osome’s flawless filings for years said that they now deal with last-minute document requests and days of unresponsiveness before deadlines.
Multiple angry business owners have turned to online reviews to vent frustration. Osome admits it struggled with hiring and accounts payable technology but says its attrition rate has stabilized in 2023.
The company plans to invest heavily in expanding its accounting team to improve capacity and has tweaked internal processes to better meet deadlines going forward.
Still, existing customers remain skeptical until Osome returns to its previous level of seamless service.
