XU Biweekly - Issue 79 - 4th May 2024

The independent user news source for accounting apps and their ecosystems

2024 Xero Awards UK Winners Announced!

WE’RE THRILLED TO ANNOUNCE AND SHARE THIS YEAR'S WINNERS WITH YOU. MEET THE ACCOUNTANTS, BOOKKEEPERS AND APP PARTNERS DOING OUTSTANDING THINGS IN THEIR FIELD.

Small Firm of the Year:

LJM Bookkeeping Ltd

Mid-size Firm of the Year:

Ad Valorem Group

Large Firm of the Year: SHORTS

Innovative Partner of the Year: Ecommerce Accountants LLP

Bookkeeping Partner of the Year: Accountability Edinburgh

Total Xero: Ellacott Morris

National Partner of the Year: Azets

Community Impact Award: Makesworth Accountants

Small Business App of the Year: Dext

Practice App of the Year: A2X

Emerging App Partner of the Year: Nook

Financial Services Partner of the Year: Crezco

Most Valued Professional: Jonathan Gaunt from FD Works!

Xero enters strategic Australian partnership with Deputy

XERO (ASX: XRO), THE GLOBAL SMALL BUSINESS PLATFORM, TODAY ANNOUNCED A STRATEGIC PARTNERSHIP WITH APP PARTNER DEPUTY, THE GLOBAL PEOPLE PLATFORM FOR HOURLY WORK, TO DEEPLY EMBED DEPUTY’S CAPABILITY INTO XERO PAYROLL FOR AUSTRALIAN CUSTOMERS, MAKING PAYROLL AND WORKFORCE MANAGEMENT EVEN EASIER.

Once available, Deputy’s workforce management capability will be deeply integrated into the Xero platform, bringing workforce management together with Xero's payroll and accounting in one place for Xero’s Australian customers.

Xero and Deputy will also execute a go-to-market partnership in New Zealand,

which includes co-branded marketing efforts.

As part of the strategic partnership with Deputy, Xero will invest USD$25million to take a minority position in Deputy to further increase the two businesses’ focus and alignment.

Xero also confirmed a decision to retire its Planday business in Australia but will continue to focus on Planday’s core business in Europe, including the UK. Planday will continue to support its Australian customers until 30 September 2024, during which time they will have the option to transition their workforce management needs to Xero’s preferred partner, Deputy.

As a result, Xero expects to recognise an immaterial write down in FY25 of previously capitalised costs asso-

ciated with Australian product development.

Xero CEO Sukhinder Singh Cassidy said: “As part of our focused FY25-27 strategy, Xero continues to optimise how we allocate resources to get the right results for customers, Xero and our stakeholders. As part of our commitment to help small businesses run more effectively, we’re excited to deepen our already strong integration partnership with Deputy to bring their workforce management technology to Xero’s Australian customers, all in one platform. These changes also provide an opportunity for Planday to focus its efforts on its strong core European markets, and maximise subscriber growth and customer value creation opportunities there even further.”

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ApprovalMax and Cin7 Core integrate to offer approval workflows to businesses managing large inventories

APPROVALMAX, A LEADING PROVIDER OF INTERNAL FINANCIAL CONTROLS AND APPROVAL AUTOMATION, TODAY ANNOUNCED ITS INTEGRATION WITH CIN7 CORE, AN INTELLIGENT COMMERCE PLATFORM THAT DELIVERS CONNECTED INVENTORY PERFORMANCE.

The strategic partnership is intended to bring finance and procurement teams closer, while allowing businesses to streamline purchase order management, build stronger financial controls, boost efficiency, and mitigate risks associated with managing large inventories.

“We know that inventory management is crucial for businesses’ success but many still use slow, manual processes to get it done.” said Konstantin Bredyuk, CEO of ApprovalMax. “By combining our powerful approval automation with Cin7 Core’s inventory management capabilities, we want to help these businesses tap into a faster, simpler, and easier way to handle inventory approvals and workflows, while still building strong financial controls.”

ApprovalMax customers using Cin7 Core can tight-

en their financial controls, reduce errors, and enhance security in inventory management processes. Customisable workflows allow decision-makers to approve everything in one place, adding an extra layer of efficiency and control to business operations.

“We are excited to partner with ApprovalMax and offer our customers a seamless integration that enhances their inventory management and procurement processes,” said Arun Kumar, Global Director, Technology & Strategic Partnerships of Cin7.

“By leveraging ApprovalMax’s approval automation functionality and financial controls, our customers can focus on growing their businesses while ensuring operations efficiency and business compliance.”

About the integration:

With Cin7 Core and ApprovalMax, businesses can automatically route purchase orders from Cin7 to decision-makers within ApprovalMax, removing the need for manual follow-ups for a simpler approval process. This addresses common challenges finance teams face due to a lack of visibility and version control in the purchase order ap-

proval process, which often leads to delays, errors, and even potential fraud.

Together Cin7 Core and ApprovalMax:

• Multi-level and multi-conditional approval workflows for purchase orders, putting documents in the hands of the right people

• Fraud detection capabilities that monitor changes to approved purchase orders, safeguarding businesses against potential fraudulent activities.

• Flexible approval workflow management, allowing finance teams to make changes directly in ApprovalMax without modifying Cin7 Core settings.

• Automated notifications keep stakeholders informed throughout the approval process, reducing bottlenecks and improving collaboration.

• Seamless integration with Xero and QBO today, so businesses can approve purchase orders, invoices, and credit notes from a single platform. Additional integrations with other prominent accounting platforms in the future.

Find out more

Introducing an Enhanced Quotes List to Streamline Quote Management

QUOTER HAS REVAMPED ITS QUOTE MANAGEMENT INTERFACE WITH THE INTRODUCTION OF THE NEW QUOTES LIST, A MODERNIZED TOOL DESIGNED TO CENTRALIZE, STREAMLINE, AND ENHANCE THE FUNCTIONALITY OF MANAGING QUOTES.

This update is not just about aesthetics; it’s about making the quote management process more intuitive and efficient for users. Here’s a look at the benefits and features of the new system.

Centralized Quote Management

The New Quotes List brings all quotes, including drafts, into one centralized location.

This change simplifies the tracking and management of quotes throughout their lifecycle, making it easier for users to oversee all their quoting activities from a single point.

XU BIWEEKLY - No. 79

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Enhanced Functionality with Color-Coded Filters

One of the standout features is the introduction of new, color-coded stage filters. These filters assist in managing the quote lifecycle more visually and intuitively. Each stage of the quote process—from draft to fulfillment—is marked with specific colors, making it easy to see the status of each quote at a glance.

Customizable Views

Users can now filter views according to their specific needs and save these views for one-click access in the future.

This feature allows for greater personalization and efficiency, as users can quickly navigate to the views they use most often without having to recreate filters each time.

Find out more

New to Fathom: Enhanced Actuals v Budget Reporting

GET UP TO SPEED WITH THE LATEST FATHOM PRODUCT NEWS. HERE’S A QUICK WRAP-UP OF THE FEATURES WE’VE RECENTLY RELEASED.

Transform your financial data into clear insights to share in reports with stakeholders. See how our latest product releases improve the reporting and forecasting experience.

Reporting on Actuals vs Budget

Are you trying to determine if you’re expected to land under or over budget by the year-end?

Previously, you were only able to compare Actuals YTD with Budget YTD, so you could track actual performance against the budget up to the current period. Now, you can compare Actuals YTD + Budget against the Full Year Budget, enabling you to quickly understand how the business is projected to perform compared to the budget through the end of the year. When adding columns to a Financials table, you’ll find the new ‘YTD actual + budget v Budget (FY)’ options under the variance sections, as well as in KPI tables and KPI comparatives tables.

Find out more

New in Calxa: Budget Using Sub-Accounts

NEW IN CALXA THIS MONTH ARE SUB-ACCOUNTS. THESE WILL HELP YOU KEEP YOUR BUDGETS ORGANISED AND HELP YOU BUILD MORE GRANULAR BUDGETS. IN THE PAST YOU COULD HAVE DONE THIS BY ADDING METRICS BUT SUB-ACCOUNTS WILL MAKE THAT PROCESS MUCH EASIER TO MANAGE.

What is a Sub-Account in Calxa?

Sub-Accounts give you the ability to budget on the components of an income or expense line. For example, you might have a Utilities account that includes gas, electricity and water. Having just the one account keeps your reporting and bookkeeping simple but it can make it harder to estimate a budget. With sub-accounts, you can add a line for gas, one for electricity and another for water.

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Sharesight product updates – May 2024

OUR FOCUS THIS MONTH WAS EXPANDING OUR BROKER SUPPORT AND STREAMLINING THE CUSTOMER ONBOARDING JOURNEY. WORK HAS ALSO BEEN UNDERWAY ON ADDITIONAL REPORTING AND HOLDING FUNCTIONS WE HOPE TO ROLL OUT OVER THE NEXT SIX WEEKS OR SO.

New functionality / enhancements

• Enhanced our trade file upload functionality with a new and improved column mapping screen and logic to streamline the process for getting large trade files into Sharesight

• Introduced the ability to search for instruments using an ISIN, particularly relevant for our European customers.

Broker import functionality

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NEW XERO CONNECTED APP! TRAILD

GLOBAL - Accounts Payable (AP) Automation with Financial Control - Immediate data extraction - Digital approval workflow - Always on AI payment protection Streamline, Automate & Protect Accounts Payable (AP) with TRAILD

Introducing Risk Portfolio in ezyCollect

N TODAY’S FAST-PACED ENVIRONMENT, PROACTIVE RISK MANAGEMENT IS CRUCIAL. WITH THIS IN MIND, WE’RE EXCITED TO INTRODUCE RISK PORTFOLIO, A POWERFUL TOOL THAT GIVES YOU THE ABILITY TO PINPOINT CUSTOMERS WITH THE HIGHEST RISK BALANCES SWIFTLY AND EFFICIENTLY, AND STREAMLINE DEBT ESCALATION AND DEBT RECOVERY.

The Challenge of Effective Credit Risk Management and Debt Collection

Extending credit is a routine yet risky part of B2B transactions. The dangers of delayed payments or, worse, non-payments, can stem from various issues like cash flow problems, disputes, or strategic delays from clients. These issues not only put financial pressure on suppliers but can also sour business relationships and disrupt the smooth flow of supply chains. Managing this risk and recovering debts is crucial yet delicate. It’s all too easy for aggressive recovery tactics to strain relationships with customers. So, how can we make this process smoother and more attuned to each customer’s unique financial situation?

What is Risk Portfolio

Enter Risk Portfolio. This tool empowers you to use data effectively, allowing you to customise your approach to risk management and debt recovery.

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Castaway Cloud Has a Silver Lining!

Giving businesses more control to design a better future.

CASTAWAY FORECASTING, THE LEADING PROVIDER OF BUSINESS FORECASTING AND MODELLING SOLUTIONS, UNVEILS CASTAWAY CLOUD, A NEW AND POWERFUL SAAS APP DESIGNED TO REVOLUTIONISE HOW BUSINESSES MANAGE THEIR PERFORMANCE, PLANNING AND DECISION- MAKING PROCESSES.

With an array of features tailored to meet the evolving needs of modern business, Castaway Cloud empowers customers to prepare for, and navigate, uncertain times with confidence and agility.

Castaway Cloud is a complete rebuild of Castaway Forecasting’s industry-leading calculation engine first seen in the Castaway Desktop product. With new element types and calculation methods customers get an even more powerful, flexible, and dynamic forecasting and modelling engine.

‘One tool for every stage of your business’ encapsulates Castaway Cloud's commitment to providing a comprehensive business app that grows with your business. With a calculation engine likened to a Ferrari, Castaway Cloud delivers unparalleled power and accuracy, ensuring you and your business perform at their best.

• From the simple to complex ‘what if’, scenario planning and stress testing

• Dashboards that take visual reporting to a new level with each one designed around a distinct customisable storyline

• Get started quickly, with new collaboration permissions and enhanced security, enabling your team to be aligned quicker and drive productivity working from anywhere (WFA)

It's no surprise that Castaway has become the business app of choice for top global businesses and accounting professionals. Currently, 8 out of 10 of the world's leading firms use Castaway.

Michael Ford, Founder and CEO remarks, "We were never going to release Castaway Cloud until it was even more powerful than our desktop solution. The response from our customers, spanning diverse industries and business types, has been unanimous. They are very impressed. Our team are very excited to officially launch Castaway Cloud in London on the 15 th of May at the world’s largest accounting and finance trade show Accountex24.”

Find out more

Expensify Targets Global Self-Employed Market With

New Expense Tracking Features

New Expensify uses enterprisegrade receipt scanning and distance tracking to capture emerging SMBs at their earliest stages and provide an upgrade path for future growth.

EXPENSIFY, INC. (NASDAQ: EXFY), THE FINANCIAL MANAGEMENT SUPERAPP FOR EXPENSES AND CORPORATE CARDS, TODAY ANNOUNCED THAT EXPENSE TRACKING FOR SELF-EMPLOYED PROFESSIONALS IS NOW AVAILABLE IN ITS NEXT-GEN NEW EXPENSIFY PLATFORM.

The upgrade makes it easier than ever for self-employed professionals to track all types of business spend – as receipts, mileage, or manual amounts – in one place. They can then categorize the expenses and share them with their accountant for tax purposes, all in the same app.

“A huge portion of the workforce in the US, and an even larger percentage globally, don’t have access to a super simplified expense tracking solution. For freelancers, independent contractors, and small business owners specifically, managing expenses can be a time-consuming and daunting task," said David Barrett, CEO of Expensify.

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BGL Announces Key Promotions to Drive Strategic Growth

BGL CORPORATE SOLUTIONS (BGL), AUSTRALIA'S LEADING PROVIDER OF COMPANY COMPLIANCE, SELF-MANAGED SUPERANNUATION FUND (SMSF), INVESTMENT MANAGEMENT, IDENTITY VERIFICATION AND AI-POWERED PAPER-TO-DATA SOFTWARE SOLUTIONS, IS PROUD TO ANNOUNCE A SERIES OF INTERNAL PROMOTIONS TO BOLSTER STRATEGIC GROWTH AND FOSTER INNOVATION.

"As BGL prepares for the launch of CAS 360 in the UK, several key internal promotions have been made to position BGL for success in this market,” said BGL's Chief Executive Officer, Daniel Tramontana. "Having such an extraordinary talent pool at BGL allows us to promote. internally - getting the right people on the bus in the right seat."

The changes include:

• Candice Kuchel promoted to Head of Marketing and Brand.

• Warren Renden promoted to General Manager - CAS 360, Ecosystem and UK.

• Adriana Cavallo promoted to General Manager - Customer Experience (APAC).

• Jeevan Tokhi promoted to General Manager of Product - Simple Fund 360, Simple Invest 360 and BGL SmartDocs.

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Recurly: Spring 2024 release launch summary

SPRING IS THE TIME WHEN WE DUST OFF THE LAWNMOWER, UNCOVER THE PATIO FURNITURE, AND WASH THE WINDOWS (I’M TIRED ALREADY). IT’S ALSO THE TIME WHEN WE AT RECURLY LAUNCH OUR SPRING PRODUCT RELEASE.

SO WHAT’S NEW?

Manage Recurly users and roles directly through Okta

We’re taking Okta SSO functionality to a new level by adding the ability to create and deactivate Recurly users and roles—and manage which users are assigned to which roles through Okta—bolstering your focus on security.

What it means for you:

• World-class security: By using the System for Cross-domain Identity Management (SCIM), a standardized, secure method of exchanging user information between systems, you benefit from industry-leading security protocols

• Streamline user management: Allow IT and corporate engineering teams to efficiently manage users and roles directly through their preferred Okta tools and interfaces instead of Recurly’s user administration interfaces to streamline user management tasks

• Reduce complexity: The new functionality simplifies Recurly user setup and minimiz-

es potential errors in provisioning users and managing role assignments

The new functionality is available to merchants on the Recurly Professional and Elite plans.

Automatic invoice terms

In the subscription business, there are times when separating invoice creation and payment collection for automatic invoices is essential to compliance with industry mandates and best practices. The new automatic invoice terms feature gives you the flexibility to do this easily.

How you might use it:

• Communicate final invoice amounts before charge: If you use Recurly's “usage-based billing” feature, after all usage is logged, Recurly will create the invoice so you can inform your customers of the final invoice amount before they are billed

• Ensure compliance: Customer communication is essential to complying with strict payment regulations, some of which require customers to be informed of the final invoice amount a certain number of days before their payment method is charged

• Charge customer upon shipment or delivery

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Retriever implements ACSISS Open Banking Data Feeds to power GST payment solutions for small businesses

SISS DATA SERVICES, AUSTRALIA’S LEADING INDEPENDENT PROVIDER OF BANK DATA FEEDS IS PLEASED TO ANNOUNCE THAT INNOVATIVE GST PAYMENT SOLUTION, RETRIEVER, WILL USE THE ACSISS PLATFORM TO SOURCE SECURE, ACCURATE BANK DATA.

Retriever takes the pain out of GST payments for small businesses by spreading payments over time. A vital part of the Retriever solution is a secure, accurate, reliable feed of client bank transactions, precisely the service offered by the ACSISS Platform from SISS Data Services.

Grant Augustin, Founder and Managing Director of SISS, welcomed Retriever to the ACSISS Platform; “We really love working with innovative companies like Retriever. They provide a really useful service to Australian small businesses, and our bank data feeds are going to enhance their customers’ experience”.

Through the ACSISS Platform, Retriever will now receive business client bank transactions through Open Banking. SISS Data Services is an Accredited Data Recipient under the Consumer Data Right (CDR), Australia’s new Open Banking system.

“The ACSISS Platform now enables us to gather bank transaction data for all our business customers securely, and with their express consent” said Peter Scott, Managing Director of Retriever Financial Services. “We chose SISS on the basis of their track-record of security and reliability – bank data is central to providing a great experience for our customers”.

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OULA HAS ONCE AGAIN BEEN RECOGNISED AS A LEADER IN THE FINTECH INDUSTRY, EARNING FINALIST NOMINATIONS IN EVERY STATE FOR THE FINTECH LENDER CATEGORY AT THE MORTGAGE AND FINANCE ASSOCIATION OF AUSTRALIA (MFAA) EXCELLENCE AWARDS.

This nomination underscores Moula’s unwavering commitment to excellence and innovation within the fintech lending space. Recognition from the MFAA highlights the company’s role as a trailblazer in providing outstanding service and innovative solutions.

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New changes to Xero’s plans in Australia from July

WE WANT TO MAKE SURE THE NEEDS OF SMALL BUSINESSES AND THEIR ADVISORS ARE MET WELL INTO THE FUTURE — AND THAT MEANS PROVIDING YOU WITH EASIER ACCESS TO TOOLS THAT HELP YOU RUN YOUR BUSINESS EFFICIENTLY. THAT’S WHY WE’RE REFRESHING OUR SUBSCRIPTION PLANS FOR SMALL BUSINESSES AND PARTNERS, WHICH WILL BE AVAILABLE FROM 1 JULY 2024.

We’ve put a lot of consideration into creating streamlined plans with bundled tools and features, to help solve your most important accounting and people management tasks. We’ve also listened closely to feedback from you — our small business customers and partners — to make sure the launch of the new plans aligns with the start of the new financial year, as we know this is important to you.

Introducing Xero’s small business plans

We’re launching three new streamlined business plans for Australian customers, as well as enhancing the Ultimate plan.

• Xero Ignite plan — accounting basics made for businesses starting out

• Xero Grow plan — accounting tools for self-employed and growing businesses

• Xero Comprehensive plan — streamlined accounting and payroll for businesses with employees

• Xero Ultimate plan (enhanced) — accounting, payroll and forecasting tools to help businesses scale for future growth

Find out more

SME XPO 2024 in its third year is a resounding success with 4447 attendees!

AND THAT’S A WRAP ON ANOTHER REMARKABLE EDITION OF SME XPO, WITH THE 2024 EVENT ATTRACTING NEARLY 4447 VISITORS OVER TWO DYNAMIC DAYS OF NETWORKING, LEARNING, AND COLLABORATION.

Held at ExCeL London, SME XPO 2024 brought together entrepreneurs, innovators, investors, and industry experts, providing platform for SMEs, Scaleup’s and Startups to network and connect.

Jack Lefley, Editor of the Evening Standard, reflected on the event's success, stating, "SMEs are the engine room of this city, providing jobs and opportunities, bringing Londoners together. This event the SME XPO 2024 celebrates Londoners, but also provides them with the connections and the networking opportunities they need to take their business to the next level.” Jack Lefley gave an inspiring welcome to the SME XPO, adding “My biggest takeaway from this year is witnessing the event's evolution. It's growing every year, attracting more brands and companies. Walking through the venue, you can feel the energy of networking and connections being made. People are leveraging SME XPO to expand their businesses and forge new partnerships."

Lets dive into the highlights from this year!

Speed Networking Sessions - Attendees had the opportunity to engage in rapid-fire networking sessions, where they connected with 60 new contacts within 60 minutes! Sponsored by Dell Technologies in association with Intel.

Keep reading

Chaser shortlisted for Best Technology Provider at 2024 Credit Awards

IAM THRILLED TO SHARE THAT CHASER HAS BEEN SHORTLISTED FOR THE BEST TECHNOLOGY PROVIDER AWARD AT THE 2024 CREDIT AWARDS. THE CREDIT AWARDS RECOGNIZE OUTSTANDING INDIVIDUALS AND COMPANIES THAT HAVE HAD A SIGNIFICANT IMPACT ON THE CREDIT MANAGEMENT INDUSTRY.

Being shortlisted for the Best Technology Provider category recognizes Chaser's innovative use of modern technology, automation, and AI in helping SMEs worldwide reduce late payments and their negative impacts. After winning the Best Use of Technology award in 2022, the Chaser team is honored to be recognized again by these prestigious awards.

Chaser: Finalist for the Best Technology Provider award

Research shows late payments are only getting worse for SMEs, with £7.4billion currently owed to UK-SMEs (Capital On Tap). Dealing with this is putting a significant time burden on SMEs’ already-stretched credit teams.

Based on user feedback, Chaser’s implemented never-seen-before technology and artificial intelligence (AI) solutions to help SMEs address their biggest pain points when

Celebrating Innovation: Announcing the Winners of the Beelievers Awards- London Edition

CHARGEBEE’S LONDON-BASED USER CONFERENCE, BEELIEVE, HUMMED WITH EXCITEMENT AS IT UNITED TRAILBLAZERS AND INNOVATORS FROM THE SUBSCRIPTION AND REVENUE GROWTH SECTOR.

A standout moment was the “beelievers” awards, honoring visionary leaders and organizations shaping the subscription landscape’s future. Let’s explore the winners in each category, highlighting their exceptional contributions to efficiency, transformation, retention, revenue growth, and leadership.

Efficiency at Scale: Brevo

Brevo was recognized with an Efficiency at Scale award for its outstanding achievements in scaling operations sustainably while maintaining profitability. With its Marketing platform, Brevo, formerly Sendinblue, already enables 500K+ business users across 180 countries to build brilliant customer relationships across email, SMS, chat, and more. To continue its growth and reach 1 billion ARR by 2030, the company’s financial team strategically set KPIs and balanced CAC, Payback, and LTV metrics.

ment to customer-centric service and sustainable practices. This award acknowledges Casi’s significant impact in reshaping the automotive subscription landscape, complemented by Chargebee’s integration for efficient billing and revenue management, further enabling Hyundai’s vision of flexible, future-forward, and eco-conscious mobility.

Retention Champion: Pret a Manger

it comes to credit-management. See the results below on how features reduce manual work, and maximize chances of payment with customer segmentation and chasing at optimal times.

Auto-call

Thanks to Auto-call, Credit controllers can now automate one of the most time-consuming parts of their job; phone calls. Auto-call lets users create text-to-speech templates in Chaser and send pre-scripted payment-reminder calls according to automated schedules, on the times and days that they choose. Automatically personalized to every recipient, they eliminate the manual work in debtor-phone calls.

Following focus groups, it became clear one of the most time-consuming tasks for credit controllers was payment-reminder phone calls; collating account details, facing answer phones, and waiting for customers to pick up. Released only on 16th February, this feature letting credit managers automate debtor calls has already been added to payment-chasing workflows of over 100 organizations. Adopters have already seen an average 3-day reduction in days sales outstanding.

Find out more

Facing challenges with its legacy billing system, particularly as it expanded internationally and acquired new markets, Brevo sought a scalable solution and found it in Chargebee. Chargebee’s comprehensive and innovative capabilities such as multi-business-entity streamlined subscription management across diverse markets, currencies, and languages, reducing work redundancies and providing better visibility for the global financial team. With Chargebee’s implementation, Brevo experienced significant efficiency gains, improved customer satisfaction, and established a more systematic approach to business operations, making it a deserving recipient of the Efficiency at Scale award.

Subscription Transformer: Casi

Casi was recognized with the Subscription Transformer award for its instrumental role in revolutionizing Hyundai’s Mocean Subscription service, a role model of sustainable and adaptable mobility throughout Europe. With strategic intelligence and an innovative partnership, Casi and Hyundai have extended the reach of Mocean’s subscription-based model, predominantly in the UK and Spain, now setting their sights on broader European horizons. Through Casi’s advanced platform technology, customers enjoy a fully digital, frictionless registration and management process, underscored by Hyundai’s commit-

Pret A Manger was honored with the Retention Champion Award for its innovative approach to subscription management and notable revenue growth, spearheaded by Anne-Sophie de Weck, Global Director of Digital. In addressing the challenge of integrating a subscription model into their traditional coffee retail experience, Pret launched the Pret Coffee Subscription service, offering customers up to five barista-made drinks daily for a fixed monthly fee. Using an agile development strategy and customer-centric focus, Pret ensured rapid adoption and sustained engagement through continuous feature updates and a seamless in-store experience supported by contactless hardware scanners. The initiative’s success is evidenced by impressive customer acquisition and retention metrics, 20 percent revenue growth, and rapid international expansion. Combining the power of personalized retention and effective targeting, Pret redirected over 44% of users who initiated the cancellation process, a striking threefold increase compared to industry norms. This, in turn, resulted in an increased Customer Lifetime Value.

This strategic transformation highlights Pret’s ability to adapt to market dynamics and enhance customer value, making it deserving of the Retention Champion Award.

Revenue Growth Catalyst: Andre Klan, Xentral

Andre Klan, the visionary Head of Finance & Accounting at Xentral, was recognized with the Revenue Growth Catalyst Award for his instrumental role in revolutionizing the company’s payment systems and significantly driving revenue growth. His leadership was a driving force behind Xentral’s strategic migration to online payment methods, which resulted in an extraordinary 80% reduction in outstanding receivables and placed 90% of customer subscriptions on auto-pilot. This dramatic improvement in cash flow and financial stability underscores Klan’s commitment to efficiency, making him a deserving recipient of such a prestigious accolade.

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UPCOMING EVENTS

UPCOMING AU WEBINARS

UPCOMING UK WEBINARS

Aider Leads the Way in AI Accounting: Simplifying Compliance, Scaling Advisory

AIDER’S AI POWERED PLATFORM IS HELPING ACCOUNTANTS STREAMLINE COMPLIANCE AND ADVISORY, ENABLING THEM TO EXPAND THEIR VALUE-ADD ADVISORY SERVICES TO MORE CLIENTS IN A FRACTION OF THE TIME.

Aider had a busy 2023, establishing itself as a game-changer in modern accounting. Currently available in New Zealand and Australia, Aider has been referred to as the "ChatGPT for Accountants” as well as an “Accounting Virtual Assistant” and was named as part of Xero’s “preferred app stack” for accounting practices.

But first, nailing compliance.

Navigating compliance requirements is a time-consuming task that can divert your most valuable resources, the team at Aider understands this firsthand.

That's why they developed a tool that streamlines compliance processes, freeing up time and resources for more impactful client-focused initiatives.

Data reconciliations made easy with the Data Compliance tool.

Aider's platform helps get your firm closer to a "real time data" strategy, which is integral for accountants wishing to scale their advisory services. With their Data Compliance tool, accountants can breeze through data compliance tasks, boosting profits on every client job. By automating data due diligence checks, the tool helps accountants standardise and streamline processes, saving valuable time previously spent on cumbersome admin work.

The updated Data Compliance tool not only cuts down on data cleanup time but also promotes consistency and improves data quality across all clients. This means faster completion of Accounts and Tax Return filing jobs, providing accountants with accurate real-time data to deliver top-tier advisory services to more clients.

Don’t get caught out working for free

Aider’s recently released Client Activity Summary ensures accountants have

the data they need to quote for jobs accurately and plan resources accordingly. No more underquoting and having to do unpaid work. No more stress of inadequate planning and staffing. No more upset clients waiting for their jobs to be done yesterday.

By summarising the volume of client transactions, invoices and bills, the Activity Summary gives accountants a snapshot of their client's key Xero activity trends. This enables accountants to adjust their service pricing accordingly.

Democratising Advisory Services for All.

The traditional approach to advisory is not scalable. Aider changes that.

With a commitment to enhancing efficiency for accountants and staying at the forefront of evolving AI technologies, Aider introduced a world-first Advisory Assistant in mid 2023.

This innovative tool changed the game, reducing analysis burdens, allowing accountants to add value for more of their clients.

Aider's AI-powered Advisory Assistant helps accountants analyse data and craft client communications in small-business-friendly language, this makes it easy to assist more clients with minimal effort. Perhaps the best part is accountants can rest assured that the data is fully secure, providing peace of mind to both accountants and their clients.

Hassle-free reporting with Aider’s report pack

Aider's report pack – featuring an AI-powered executive summary – is another feature that they released in 2023 and has become a valuable time-saving asset. Aider understands that report writing can be tedious, so they’ve incorporated an AI-powered executive summary and action points, as well as automated graph generation in their report pack.

All you have to do is give it your final approval, and the AI-powered tool generates a comprehensive report. This report can be downloaded as a Word document, with customisable branding, ready for editing, printing, or saving and sending.

Traditionally, advisory services have been reserved for a select group of high-value clients.

However, Aider disrupts this norm by democratising advisory services supporting a productised and productionised advisory approach. This shift not only aids clients in their growth but contributes to the expansion of an accountant's own business.

Take it from a customer.

Aider helps Fiscal Artisans to “go beyond the numbers”.

Hear how Stuart Smith, CEO of Fiscal Artisans, uses Aider to propel their business beyond traditional accounting services.

“In the 30 or so years I’ve been in business, the accounting industry has changed a lot. The move to real-time data and automated dashboards that crystallise client data has been key. Over the past couple of years I was looking for a platform like this and that’s how I found Aider.

"Since using Aider, we’re spending less time on

low-dollar services and more time on high-value services.

"The time we’ve saved has enabled us to do more than just help our clients with basic accounting data – we’re able to offer more $300 advisory services, instead of just basic $30 accounting services.”

A Glimpse into the Future: Aider's Dedication to Innovation

Aider is dedicated to optimising technology and AI for accountants. Brendan Roberts, Aider's CEO, recently shared his insights at CPA. com's AI in Accounting Symposium, emphasising Aider's unwavering commitment to providing AI-powered software that not only saves time but also significantly boosts profitability for advisors. "AI is where it’s at. We’ve all heard AI isn’t going to replace accountants, but accountants must embrace the technology to stay ahead in the game. We're already impressed with how the industry has adopted AI, and we're keeping ourselves at the forefront of new technologies to lead the charge."

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By Belinda Dyer, Marketing & Partnerships Manager, Aider

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Spotlight Sustain: ESG Reporting Made Simple

Spotlight Sustain is more than just a new product, it's an affirmation of our mission to create disproportionate impact.

By Richard Francis FCA, CEO and Co-Founder, Spotlight Reporting

ENVIRONMENTAL, SOCIAL AND GOVERNANCE (ESG) REPORTING IS NOW BECOMING AN INCREASINGLY NECESSARY ASPECT OF BUSINESS ACTIVITY. NOT ONLY ARE ENTERPRISES RECOGNISING THE NEED TO BE INVOLVED IN ‘MEASURING WHAT MATTERS’ BEYOND THE BOTTOM LINE, BUT THEY’RE ALSO SEEKING SOLUTIONS TO THE PROBLEMS THAT ORGANISATIONS AND COMMUNITIES FACE IN THIS MODERN WORLD.

Recognising this need, Spotlight Reporting has launched its standalone ESG reporting solution, Spotlight Sustain. With over 12 years of expertise in delivering engaging and actionable reports and forecasts to accountants, CFOs and advisors, Spotlight Reporting’s new Sustain product aims to streamline the ESG reporting process, access data from leading specialist providers, while also being highly customisable and adaptable to specific business needs and initiatives.

Designed for advisors, accountants and CFOs alike,

Spotlight Sustain offers crucial functionality across all key areas of ESG, with the ability for reports to drill down on what the business or client is most interested in.

Through customisable templates, extensive graphs, and the ability to add additional commentary and imagery, Spotlight Sustain provides the means to deliver actionable and engaging reports on the following areas:

Environment: with a focus on improving impact, monitoring and reporting on environmental initiatives

Social: to develop and evolve company culture and structure, analyse and track social performance indicators

Governance: to report on governance while also taking into account specific measures relating to organisational oversight

To this day we remain a small but passionate team combining great software with the human touch. We continue to innovate and respond to customer needs, whilst also looking through

Extend Xero’s capabilities and better manage complex group reporting

With its new customisable dashboard, group global search and transactional drill down, the Joiin platform will superpower your multi-entity reporting

By Paul Shipway, Chief Commercial Officer,

BEFORE EXPLORING HOW OUR JOIIN PLATFORM’S NEW GROUP REPORTING FEATURES EXTEND XERO’S CAPABILITIES AND AMPLIFY YOUR FINANCIAL DATA (ALTHOUGH YOU CAN TAKE A QUICK LOOK AT THE BOX BELOW), THERE HAS BEEN A BOOM IN XERO-CONNECTED APPS. SO, LET’S FIRST LOOK AT WHAT IS DRIVING MARKET DEMAND.

There have never been so many awesome connected apps on the Xero App Marketplace, meaning there’s always an app to enhance your Xero and work, enabling you to build a sophisticated finance system around Xero itself easily.

ease of use.

• There is a need for centralised control and a desire for apps that treat Xero as the hero and can support it wholeheartedly, enhancing the systems and processes already integral to a business’s Xero usage.

• People are mindful of costs and want to see app pricing models such as all-you-can-eat (you get everything for one fair price) and ones that scale sensibly (say, as more entities are added) to maintain cost control across multiple deployed apps.

Our new feature development approach at Joiin

ments you need – alongside a Global Search feature that lets you find and drill down into these documents. At the same time, we’ve introduced customisable dashboards that enhance your data visually, bringing it to life in easily digestible golden nuggets of insight.

A quick note about our pricing

a long lens at what our next disproportionate impact could be.

We believe that if ever there was a time to create a new and positive ripple, it’s now. By now, everyone realises that our planet’s inhabitants and organisations are grappling with unprecedented change and how to measure, reduce and mitigate the consequences of our human activity and choices.

Transparency is lacking, the rules of engagement are unclear and we are still learning what it means to be good citizens and guardians of our world. In a small way, we hope to use our decade-plus of reporting and forecasting experience to shine a light on ESG metrics and to encourage and educate the ‘sustainable-conscious’ organisations that want to ‘measure what matters’ beyond the dollar signs. This is us ‘leaning in’ alongside those in the front lines of carbon footprint mitigation, sustainability advisory, progressive accounting, leading certification organisations.

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Only last year, Joiin took part in a fantastic webinar series run by our app partner, Mayday, on how to build an enterprise-level system with Xero – aimed at helping CFOs and their teams. The webinar series highlighted a market demand right now –people like you are looking for ways to scale a Xero setup to meet the needs of your growing business(es).

It’s widely believed that Xero-connected apps are great (excellent news as Joiin is a connected app). But as an app vendor at Joiin, we’re ever mindful of how we must develop our platform for the market and what our customers want, to deliver a powerful app that works your data hard to simplify the complex nature of group reporting.

Recently, three drivers have shaped how we’ve been developing our Joiin platform – all of which have come from market insights and feedback from customers, app partners, or business partners, helping us to move forward confidently:

• At the heart of it, there is a need amongst customers for seamlessness; not only how easily apps connect to Xero and maintain the integrity of data, but also how they look and feel, providing familiarity with the Xero user experience and sticking to shared values such as simplicity and

At Joiin, we thoroughly acknowledge what’s currently driving the market: we’re mindful of the need for seamlessness between Xero and our Joiin platform, we understand people’s need for centralised control of their data, and that these people are rightly cost-conscious.

Alongside the above drivers, we’re also led by our customers, who had been asking us specific questions throughout 2023, and we’ve since worked with them to deliver against popular requests, such as:

• How can I get transactions into Joiin and drill down into these?

• Can you help me find Xero transactions amongst my masses of data easily?

• How can I quickly see my headline data on one Joiin screen?

Effectively, we were tasked with finding ways for our customers to achieve more control over their data and get more from it. The challenge was accepted, and we set about delivering new features that let you move from real-time headlines to intricate drill-downs into your data, delivering a rounded experience that works your data harder and makes group financial reporting much easier.

This led us to better integration with your Xero transactions – to make life easier when looking for the docu-

Before we look at our new features, I want to emphasise that, with Joiin, you get all features for one low-cost subscription price. We never charge for feature add-ons –to repeat you get everything for one price – with our pricing based on the number of group entities you upload to Joiin. For example, it costs from just £16/month for two entities and £50/month for ten entities, with options from less than £1 per entity for 200 entities and beyond.

Joiin’s new features –extending Xero’s capabilities and working your data harder

Feature #1: Global search:

With our Joiin platform, you’ve always been able to connect to Xero seamlessly and quickly – literally within minutes – and that hasn’t changed. With your say-so, when connecting to Joiin, you can now automatically upload your transactions from Xero to Joiin.

Once your transactional data is in Joiin, you can search for and find any transaction you need with our new, powerful Global Search feature.

The look and feel of search results are similar to what you’d expect in Xero. For example, you can see all your transactions in one place, presented as lists based on your account categories, which brings a welcome familiarity to the data being presented.

How does Global Search work your data harder?

Because our Joiin platform helps you manage group reporting.

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Joiin

PayPal Reports

First Quarter 2024 Results

PAYPAL HOLDINGS, INC. (NASDAQ: PYPL) TODAY ANNOUNCED ITS FIRST QUARTER 2024 RESULTS FOR THE PERIOD ENDED MARCH 31, 2024.

The earnings release and related materials discussing these results can be found on PayPal's investor relations website at https://investor.pypl.com/financials/ quarterly-results/default. aspx

PayPal Holdings, Inc. will host a conference call to discuss these results at 5:30 a.m. Pacific time (8:30 a.m. Eastern time) today. A live webcast of the conference call will be available at https://investor.pypl.com

In addition, an archive of the webcast will be accessible for 90 days through the same link.

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Our biggest product updates from Stripe Sessions 2024

THIS MORNING AT OUR ANNUAL CONFERENCE, STRIPE SESSIONS, WE SHARED OUR BIGGEST PRODUCT UPDATES OF THE YEAR WITH THOUSANDS OF BUSINESS LEADERS AND BUILDERS WHO GATHERED AT THE MOSCONE CENTER IN SAN FRANCISCO.

Our keynote covered Stripe’s progress in our three core product areas and shared how we’re evolving Stripe to interoperate with other payments providers.

This post recaps the top announcements and product releases.

For a comprehensive list of everything that’s new since Sessions last year, see our changelog.

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GoCardless and Intuit QuickBooks expand partnership with app launches in Australia and the United States

GOCARDLESS, THE BANK PAYMENT COMPANY, HAS EXPANDED ITS PARTNERSHIP WITH INTUIT QUICKBOOKS, A LEADING FINANCIAL MANAGEMENT SOFTWARE, WITH TWO NEW LAUNCHES.

The fintech has now introduced a GoCardless app in the Intuit Quickbooks Marketplace in Australia and the United States, enabling more than 225,000 QuickBooks users to tap into Direct Debit to help them reduce late payments and improve cash flow.

By introducing GoCardless and its Direct Debit capabilities, Intuit QuickBooks small business users stand to gain greater control of their finances.

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Allica Bank achieves first full year profit –just three years since opening doors to lending

RECENTLY NAMED AS THE FASTEST-GROWING UK FINTECH EVER BY DELOITTE, ALLICA BANK TODAY RELEASED ITS ANNUAL REPORT FOR THE YEAR ENDING 31 DECEMBER 2023, UNDERLINING A PERIOD OF CONTINUED GROWTH, STRONG FINANCIAL METRICS AND WATERSHED ACHIEVEMENTS.

Since opening for lending in 2020, Allica is the UK’s only full-service digital bank built solely for established SME businesses (typically with 5-250 staff, that make up over a third of the UK economy). 2023 saw the bank accelerate its efforts to disrupt the SME banking market.

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Payhawk Joins American Express SyncTM

New B2B payments collaboration provides Payhawk users even more ways to efficiently manage and process business spending globally - all while earning the rewards of their eligible U.S. American Express® Business or Corporate Cards.

PAYHAWK, A GLOBAL SPEND MANAGEMENT SOLUTION FOR DOMESTIC AND INTERNATIONAL BUSINESSES THROUGHOUT THE U.S., U.K., AND EUROPE, TODAY ANNOUNCED A NEW INTEGRATION WITH AMERICAN EXPRESS TO OFFER U.S. BUSINESS AND CORPORATE CARD MEMBERS THE ABILITY TO ISSUE VIRTUAL CARDS WITH BUILT-IN SPEND CONTROLS AND MANAGE BUSINESS SPEND GLOBALLY — ALL WHILE EARNING THE REWARDS OF THEIR ELIGIBLE AMERICAN EXPRESS CARD WHEN MAKING VIRTUAL CARD PAYMENTS.

To achieve this integration, Payhawk is participat-

ing in the American Express SyncTM Commercial Partner Program.

Hristo Borisov, CEO of Payhawk, says:

We are teaming up with American Express to give our customers access to the control, enhanced security, and cash flow management that come with using an American Express virtual Card, alongside the ability to simplify and automate their finance operations with a single global spend management solution for cards, reimbursable expenses and Accounts Payable, natively integrated to their ERP of choice.

Find out more

Topps Tiles selects GoCardless to launch its strategic Trade Pay offering, deepening its footprint in the trade market

TOPPS TILES, THE UK’S NUMBER ONE TILE SPECIALIST, HAS TAPPED BANK PAYMENTS COMPANY GOCARDLESS TO POWER THE PAYMENTS BEHIND TRADE PAY, ITS NEWLY LAUNCHED TRADE CREDIT SCHEME WHICH GIVES TRADERS THE ABILITY TO REGULARLY PAY ON CREDIT IN TOPPS TILES STORES.

Thanks to GoCardless, traders can now pay their monthly instalments through Direct Debit, with the funds automatically collected on the day they’re due. This provides an easy, effortless way to stay on track with repayments and free up lines of credit to keep growing their business.

The Trade Pay launch is a significant strategic move for Topps Tiles, accelerating its push into the trade market. The retailer knew that lines of credit were important to these customers and had previously offered its trade credit scheme through a third-party finance provider. The arrangement was convenient but costly, with fees charged per transaction. In a bid to further improve its customer service whilst improving its margins, Topps Tiles tried to bring its lines of credit in-house -- but managing them directly led to hours of manual admin for the finance team, including time spent chasing late payments.

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Soakly partners with GoCardless to streamline payments for swim school owners

GOCARDLESS, THE BANK PAYMENT COMPANY, AND SOAKLY, THE SOFTWARE SUITE DESIGNED FOR SWIMMING SCHOOLS, HAVE JOINED FORCES TO OFFER SOAKLY CUSTOMERS A SIMPLER WAY TO TAKE PAYMENTS.

The partnership gives swim schools a seamless way to collect both recurring tuition fees and one-off payments through a single provider, thanks to GoCardless’ Direct Debit capabilities and Instant Bank Pay, powered by open banking. This will allow swim school owners to cut down on time-consuming manual admin processes, reduce late payments and avoid the costly fees often associated with card payments.

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Airwallex to Provide Faster International Payments for BILL

AIRWALLEX, A LEADING GLOBAL PAYMENTS AND FINANCIAL PLATFORM FOR MODERN BUSINESSES, TODAY ANNOUNCED A PARTNERSHIP WITH BILL (NYSE: BILL), A LEADING FINANCIAL OPERATIONS PLATFORM FOR SMALL AND MIDSIZE BUSINESSES (SMBS), TO PROVIDE AIRWALLEX’S LOCAL TRANSFER CAPABILITIES AS PART OF BILL’S PAYMENTS OFFERINGS.

BILL will offer its customers faster payment speed with the option to deliver payments same-day or next-day in local currencies through Airwallex.

SMBs require choice and speed to go global.

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Airwallex for Startups launches to cultivate next generation startup success

AIRWALLEX, THE AUSTRALIA-FOUNDED LEADING FINANCIAL PLATFORM FOR MODERN BUSINESSES, TODAY ANNOUNCED THE LAUNCH OF AIRWALLEX FOR STARTUPS, AUSTRALIA’S MOST COMPREHENSIVE PROGRAM FOR LOCAL STARTUPS SEEKING TO ACCELERATE THEIR GROWTH.

The initiative – which includes practical resources, networking and content opportunities, exclusive product offers from Airwallex and others within the startup ecosystem, and the opportunity to win an AUD $10,000 Business Acceleration Grant – has been created to empower the next generation of Australian entrepreneurs to scale faster and more efficiently.

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Tide set to launch business accounts in

Germany with Adyen

TIDE, THE UK’S LEADING BUSINESS FINANCIAL PLATFORM, HAS PARTNERED WITH ADYEN, THE GLOBAL FINANCIAL TECHNOLOGY PLATFORM OF CHOICE FOR LEADING BUSINESSES, TO OFFER SMALL AND MEDIUM-SIZED BUSINESSES (SMES) TIDE BUSINESS ACCOUNTS, FIRST IN GERMANY BEFORE POTENTIALLY EXPANDING FURTHER INTO EUROPE.

Following its announcement of strategic entry into the German market in March, Tide will soon offer cost-effective and efficient business accounts to small businesses lacking a finance function. Highly connected finance and admin solutions such as invoicing and accounting are to follow later in 2024.

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