Babylon chooses Entendre to automate back their back office
transactions automated
hours / month saved
cost savings
Overview
Babylon Labs is a blockchain technology company specializing in Bitcoin staking and security solutions for Proof-of-Stake (PoS) chains. Their Cosmos-SDK based chain serves as a control plane, synchronizing Bitcoin with PoS chains and aggregating timestamp data to enable secure and efficient cross-chain operations.
Challenge
As Babylon Labs scaled its staking network, financial operations grew in complexity. The team needed to automate accounting for hundreds of wallets and service provider relationships, maintain real-time visibility across three legal entities, and manage a large and evolving chart of accounts. Manual processes could not keep pace with the network's growth or deliver the accuracy required for treasury, rewards, and provider payments.
Additionally, Babylon required granular tracking categories for precise cost attribution and robust database construction to support financial reporting. Integrating Entendre as an on-chain module with Xero was essential, enabling seamless data flow and unified financial management across blockchain and traditional systems.
Transitioning from external accountants, Babylon Labs brought accounting in-house, relying on a lean team of two and Entendre. This shift enabled them to manage three entities with higher control, quality, and speed in preparation, close, and reporting.
Solution
Babylon Labs deployed Entendre's automation suite:
Copilot for Financial Structure: Enabled bulk configuration of the financial structure across all legal entities, including updates to the chart of accounts spanning 400 asset accounts.
Automated Wallet Accounting: Automated transaction classification, reconciliation, and reporting for over 60 staking wallets on the Babylon chain.
Service Provider Automation: Streamlined accounting for 200+ service providers, supporting accurate tracking and payments.
Multi-Entity Support: Delivered consolidated and entity-level reporting across 3 legal entities.
Results
- 99% transactions automated and reconciled.
- 20+ hours saved per month in accounting labor.
- $80K/year in external accounting labor costs.
Testimonial
"Entendre's support has been phenomenal getting the Babylon integration live. Copilot helps us manage a very complex chart of accounts, especially with our general ledger tracking across departments and assets."
- Greg, CFO, Babylon Labs
Conclusion
Entendre enables Babylon Labs to scale financial operations while staying lean through intelligent accounting solutions. By automating accounting, wallet management, and provider workflows, Entendre's agents empower Babylon's finance team to deliver speed, accuracy, and control in a rapidly evolving ecosystem.