Melu provides a managed on-line chat function that combines the latest AI tools and machine-based learning with human operators. This provides clients this cutting edge tech and a real human interface. This interaction with humans, through which Melu clients offer higher levels of customer service, is what sets Melu apart in this sector.
To support his venture, Lee needed an accountant that would understand his tech-based business, offer support to a start-up and have the ability to scale in order to match his ambitious international growth plans. By combining Xero technology with years of accounting experience, Cypher fit the bill.
Lee explains “Having a chat function on your web site is proven to generate more leads. In a world of tech, AI and machine learning, we use a real person, which helps a client’s prospects to understand what they offer and provides them with a better customer experience.”
Adding, “As a start-up business, this was essentially the sort of support we needed from our accountant.”
“Our original accountant wasn’t that progressive,” explains Lee. “As a start up, we needed a plan and regular access to our numbers. Matt understands our business, he gets it and that is really important to us.”
“We want to be market disrupters but have found that in the UK at least the market hasn’t actually caught up with us yet. So as well as growth here, we are looking at some quite ambitious investment and growth plans in the US through contacts we already have. We see this as a viable route but will need the scalable support and specific knowledge to get there.”
As Melu’s accountants, Cypher took time to understand the business and has been able to offer this tech company access to and advice on financial support like R&D tax credits.
As well as regular updates on business performance and cash flow Cypher has even provided Melu with a personalised Slack channel to provide them with instant access to the team and enable them to receive immediate answers to their financial questions.
As a Xero-based accountancy, Cypher also has the ability to scale in direct synergy with Melu’s growth plans.
Melu’s current offer of a human-led chat function is available Monday to Friday 8.00am – 10.00pm and has recently expanded to include weekends. In addition they are in the process of recruiting a sales force to boost business growth and have big plans for expansion overseas.
“We had a previous relationship with Matt, he understands our business and that is important. Our aspiration is to go global and in terms of scalability, with the tech and business model Cypher has, I see no reason why they would ever be a barrier to this growth. We are confident that Cypher can handle big business growth and the tax implications this brings”, says Lee.