IBT Consultants

What IBT Consultants does

IBT Consultants (legal name: Infinity Business & Tax Consultants) is a privately held Sri Lankan firm of Chartered Accountants founded on 1 April 2016 and headquartered in Kandy, Sri Lanka, with a second office in Male, Maldives opened in October 2022. The firm delivers a comprehensive suite of professional services — audit and assurance, tax compliance and consultancy, business process outsourcing (BPO), management consultancy, corporate secretarial services, outsourced internal audit, payroll, inventory management, and fixed-asset register services — to both Sri Lankan and overseas clients. Its founder and Managing Partner, Viraj Henegedera, is a Chartered Accountant and Chartered Tax Advisor with prior Big Four audit-firm experience; the Maldives Country Manager, Amila Mahesh Basnayaka, brings over 12 years of local MIRA, MMA, and statutory compliance experience.

The firm's underlying technology centers on the Xero cloud accounting platform, on which it operates as a certified Xero advisor and delivers its full BPO stack including general ledger maintenance, bank reconciliations, accounts payable and receivable processing, payroll, and management reporting. In the Maldives it also advises clients on SAP ERP accounting systems. Adjacent service lines are delivered through a group of wholly owned associates: IBT Corporate Services (Pvt) Ltd for corporate secretarial, and Online Business Advisor (Pvt) Ltd and Online Tax Advisor (Pvt) Ltd for advisory and tax services. The firm separately offers an ISO Consultancy practice covering more than 20 management-system standards across food safety, quality, environmental, occupational health, information security, and forestry.

Commercially, IBT operates a quote-based, bespoke professional-services model targeting large and mid-sized corporate clients as well as SMBs, with no publicly disclosed pricing tiers. Its go-to-market is sales-led and relationship-driven, relying on direct engagement with senior management and finance teams, supplemented by event-based marketing (Hotel Asia exhibitions in Maldives, Xero events in Singapore, ISO and GDPR training workshops) and university engagement for talent pipeline. The firm holds no institutional investment, has not announced funding rounds, and operates entirely on private founder-led ownership.

Name

IBT Consultants

Legal name

IBT Consultants (Infinity Business & Tax Consultants)

Website

https://ibtconsultants.com

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

11–50 employees

Short description

IBT Consultants is a Sri Lanka-headquartered firm of Chartered Accountants, founded in 2016, providing audit, tax, BPO (via Xero), management consultancy, corporate secretarial, and ISO certification services to corporate and SMB clients across Sri Lanka and the Maldives.

Ownership category

akta.pro rank

Headquarters

HQ city

Kandy

HQ country

Sri Lanka

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Marketing or Sales, Technology or R&D, Operations, Infrastructure

Revenue model

1. Audit and Assurance Services: Financial statement audits, agreed-upon procedures engagements, and examination of prospective financial information for corporate clients.
2. Tax Compliance and Consultancy: Tax registration, computation, filing, due diligence, transfer pricing advisory, and tax optimization strategies.
3. Business Process Outsourcing (BPO): Full accounting outsource, accounts payable, accounts receivable, payroll, inventory management, and fixed assets services delivered through Xero platform. Both Sri Lankan and overseas clients.
4. Management Consultancy: Business valuation, feasibility studies, due diligence, systems design, fraud investigation, and M&A advisory.
5. Corporate Secretarial Services: Company formation, secretarial services, licensing, trademark registration, and M&A support through associate company IBT Corporate Services.
6. ISO Consultancy: Consultancy services for achieving international certifications across various ISO standards and management systems.
7. Outsourced Internal Audit: Internal audit services to help organizations achieve objectives through evaluation and improvement of risk management, control and governance processes.

Go-to-market motion2 records

Distribution channels2 records

Marketing channels5 records

Core offering

IBT Consultants is a firm of Chartered Accountants delivering audit, tax, business process outsourcing, management consultancy, corporate secretarial, outsourced internal audit, payroll, and ISO management systems consultancy services to corporate clients in Sri Lanka and the Maldives. BPO and bookkeeping services are delivered through the Xero cloud accounting platform to both local and overseas clients, while ISO consultancy covers a broad portfolio of international standards for quality, food safety, environment, occupational health, and information security.

Product overview

IBT Consultants is a firm of Chartered Accountants in Sri Lanka providing a comprehensive suite of professional services. The firm operates as a single unified offering combining core accounting, audit, tax, and advisory services with specialized BPO capabilities and ISO consultancy. The main service portfolio includes Audit and Assurance, Tax Compliance & Consultancy, Business Process Outsourcing (BPO) through XERO, Management Consultancy, Corporate Secretarial Services, Outsourced Internal Audit, Payroll Services, Inventory Management, Fixed Assets Register, and ISO Consultancy Services. BPO services are delivered through XERO accounting platform, while ISO Consultancy covers multiple international standards for food safety, quality, environmental, health safety, and information security management.

Differentiator

Problem solved

Functional benefit

Products and services

• Audit and Assurance Comprehensive audit services for corporate clients including financial statement audits, factual findings reports, compilation of financial statements, examination of prospective financial information, and special purpose audit engagements performed in accordance with International Standards.
• Tax Compliance & Consultancy Tax advisory and compliance services covering entity registration with tax authorities, tax computation and filing, tax due diligence for M&A, transfer pricing advice, and expatriate tax services for large and growing businesses.
• Business Process Outsourcing (BPO) through XERO Customized outsourcing services delivered through XERO covering full accounting outsource, accounts payable, accounts receivable, general ledger maintenance, bank reconciliations, financial statement preparation, and VAT/GST schedules for large and mid-sized entities.
• Management Consultancy Strategic advisory services covering business valuation, feasibility studies, due diligence for investors, systems and procedures design, fraud investigation, risk advisory, and mergers and acquisitions support to enable strategic decision-making.
• Corporate Secretarial Services Corporate secretarial services delivered through associate company IBT Corporate Services (Pvt) Ltd, including company formation, file searches, dissolution and liquidation, business license applications, trademark registration, and M&A support.
• Outsourced Internal Audit

Quantifiable outcome

• Services performed in accordance with International Standards ensuring quality deliverables

Named customers9 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Feature4 records

Partnerships

Four partnerships are on record, tiered core.

• XerocoreTechnology or IntegrationIBT Consultants is a certified Xero advisor providing cloud-based accounting services. The firm leverages Xero platform for full accounting outsource, accounts payable, accounts receivable, and payroll services. Participation in Xero Road Shows and Media Events in Singapore demonstrates strong partnership relationship.
• Online Business Advisor (Pvt) LtdcoreStrategic or Co-development PartnerAssociate company providing corporate secretarial services. IBT Consultants offers corporate secretarial services through this associate company, which handles company formation, secretarial work, and compliance services.
• Online Tax Advisor (Pvt) LtdcoreStrategic or Co-development PartnerRelated company (sister concern) providing tax advisory services. Part of the IBT group ecosystem offering comprehensive tax and business advisory solutions.
• IBT Corporate Services (Pvt) LtdcoreStrategic or Co-development PartnerAssociate company through which IBT Consultants offers corporate secretarial services including company formation, licensing, trademark registration, and M&A support.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• RSM Sri Lanka: International accounting network's Sri Lanka member firm providing audit, tax, and consulting services to mid-market and growth-stage companies — closely comparable to IBT in scale and target clientele.
• Baker Tilly Sri Lanka: International mid-tier accounting network operating in Sri Lanka providing audit, tax, and advisory services — comparable scale and service mix to IBT Consultants for mid-market corporate clients.
• Grant Thornton Sri Lanka: International mid-tier accounting network with a Sri Lanka presence providing audit, tax compliance, and advisory services to mid-sized corporate clients, broadly overlapping IBT's positioning and service portfolio.
• BDO Sri Lanka: Mid-tier international accounting network's Sri Lanka member firm offering audit, tax, and advisory services to corporate clients across multiple industries — directly comparable in service mix and mid-market target segment to IBT Consultants.
• Crowe Sri Lanka: Top-10 global accounting network's Sri Lanka member firm offering audit, tax, and advisory services, competing for the same mid-market audit and advisory mandates as IBT Consultants.
• Mazars Sri Lanka: International accounting and advisory network with Sri Lanka operations providing audit, tax, and consulting services to corporate clients — overlapping IBT in service offering and client base.

Broad incumbents

• PwC Sri Lanka: Big Four firm with established Sri Lanka presence providing audit and assurance, tax, and advisory services to corporate clients across industries — broader incumbent competing in the same audit market.
• Deloitte Sri Lanka: Big Four firm with Sri Lanka operations offering full-suite audit, consulting, tax, and financial advisory services — competing incumbent particularly for larger corporate and multinational audit engagements.
• Ernst & Young Sri Lanka: Big Four firm operating in Sri Lanka with comprehensive audit, tax, and advisory capabilities — a broader incumbent competing for both mid-market and large-cap mandates that IBT also pursues.
• KPMG Sri Lanka: Big Four firm with established Sri Lanka presence providing full-spectrum audit, tax, and advisory services to large corporates and multinationals — competes for the same audit mandates IBT targets, though at a much larger scale and broader portfolio.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/ibtconsultants

Compliance23 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about IBT Consultants