Tide appoints Anna Fromme-Schoen as Managing Director, Germany
TIDE, THE UK’S LEADING BUSINESS FINANCIAL PLATFORM, HAS APPOINTED ANNA FROMME-SCHOEN AS MANAGING DIRECTOR, GERMANY. BASED IN BERLIN, SHE WILL WORK WITH A GROWING TEAM TO ESTABLISH AND EXPAND TIDE’S PRESENCE IN GERMANY. TIDE LAUNCHED A PRODUCT INTO THE GERMAN MARKET IN MAY.
Anna joins Tide from PayPal Germany where she has worked in leadership roles since 2016. Most recently, she managed PayPal’s SMB Lending in non-US markets as Director Merchant Lending International Markets.
Anna began her career at management consultancy Boston Consulting Group. Anna will report to Tide UK/Europe CEO, George Schmidt.
The appointment of a dedicated Managing Director for Germany underlines Tide’s growth ambitions in Germany, Europe´s largest
economy, where its product offers a free current account designed specifically for small businesses.
Tide will gradually introduce a full range of other products and services to its German members (customers), including invoicing, accounting features, and credit solutions.
The rollout of products, services and features in Germany will follow Tide in the UK, where it already serves 600,000 SMEs or more than 10% of the market share. Tide has grown its member base to more than 275,000 micro and small and medium entrepreneurs in India, where it launched its product in December 2022.
George Schmidt, CEO UK/Europe, Tide, said: “We are delighted to have Anna bring her formidable experience in financial services to Tide. Alongside Tide’s Executive, Anna will play a key role in driving forward growth plans in Germany and continental Europe.
Anna’s rich knowledge of how to successfully scale a digital business in different markets, and her deep networks in the country, will be invaluable to our ambitions in Germany.”
Anna Fromme-Schoen, MD Germany, Tide, added: “This is a great new opportunity and I look forward to working with George and Tide’s teams to provide seamless financial solutions. Small businesses in Germany in particular still lack such a comprehensive offering, and we at Tide are going to change that.”
Tide’s long-term ambition is to be the leading business financial platform globally. Tide employs around 1,800 people in its headquarters in the UK, as well as in India and Bulgaria, with offices in all three countries. Tide already has a number of employees working in Berlin. The company plans to further expand its presence in Germany this year.
Find out more
GoCardless works with Federation of Small Businesses to help its members tackle late payments
GOCARDLESS, THE BANK PAYMENT COMPANY, ANNOUNCES A NEW PARTNERSHIP WITH THE FEDERATION OF SMALL BUSINESSES (FSB) TO OFFER ITS MEMBERS PRACTICAL TIPS AND ADVICE TO HELP ADDRESS LATE PAYMENTS.
As headline sponsor of the newly launched FSB GoCardless Late Payments Hub, GoCardless will provide information and guidance to help FSB members take control over when and how they get paid. FSB members will also benefit from cost savings and support when signing up to GoCardless,
subject to eligibility criteria.
FSB campaigns for measures to curb poor payment practices by large companies to small businesses.
Research released last year by FSB revealed that over half of the 5.5 million small businesses operating in the UK suffered from late payments in 2022, with a quarter reporting an increase in late payments.
Not only did the study find wide-ranging business impacts, with 37% of small businesses saying they took on credit to manage their cash flow, it also highlighted how the uncertainty and
stress of securing financing could also have a negative impact on well-being and quality of life.
Nicola Hamilton, VP Marketing, Brand & Communications at GoCardless said:
“Small business owners are waiting too long to get paid, and the cost of receiving what they’re owed is simply too high. Hours spent chasing payments quickly add up, and small business owners often opt to let a late payment go rather than having that awkward conversation with a customer. This needs to change.”
Find out more
Bright acquires MyWorkpapers to further support customers in delivering exceptional accounting services
BRIGHT, A LEADING TAX, ACCOUNTING, FINANCE AND PAYROLL SOFTWARE COMPANY, HAS FURTHER EXPANDED ITS PRODUCT PORTFOLIO WITH THE ACQUISITION OF MYWORKPAPERS, A TRUSTED, DIGITAL WORKING PAPERS SOLUTION FOR ACCOUNTANTS AND AUDITORS IN THE UK, IRELAND AND AUSTRALIA.
MyWorkpapers initially launched in 2009 as a flagship auditing application and has evolved into a full suite of specialised workpaper packs for all types of engagements undertaken by accountancy firms.
Their award-winning software is designed to improve work efficiency and collaboration on engagements, while ensuring compliance and workflow production.
Rich Neal, Chief Executive Officer of MyWorkpapers, said:
“We are delighted to be joining Bright to support our mutual clients with further practice efficiency in the cloud."
"After initially exploring an integration with Bright products, we saw the opportunity for an even deeper relationship to provide a true, end-to-end, cloud solution.
By bringing together the expertise of our teams, we will expand upon the integrated, cloud-native accounting suite for all types of engagements. The formation of this new relationship further builds on our strength – enhancing the daily operations and capabilities of accounting firms in the UK and Ireland."
"We believe this combination, together with our continued collaboration with other solution providers, will offer customers more choice in their software solutions and how they deliver value to their clients.”
Find out more
Better Quote Management: Tailor Your Quote View and Improve Efficiency
AT QUOTER, WE’RE ALWAYS STRIVING TO ENHANCE YOUR EXPERIENCE BY DELIVERING POWERFUL TOOLS TO SIMPLIFY AND STREAMLINE YOUR WORKFLOW. OUR LATEST UPDATE TO THE NEW QUOTES LIST IS NO EXCEPTION.
Designed to modernize the Quote management interface and provide additional functionality, this enhancement offers new filter options and the ability to save customized views. Let’s dive into the key features and see how they can transform your quoting process.
Show/Hide Columns for a Saved View
One of the standout features in this update is the ability to show or hide columns in your New Quotes List. This flexibility allows you to create a view that works best for you. Whether you prefer to see only the most critical information at a glance or need a de-
XU BIWEEKLY - No. 83
Newsdesk:
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tailed overview, you can now customize your interface to suit your specific needs. But it doesn’t stop there—these customized views can be saved with our Saved Views functionality. Once you’ve tailored your columns to your liking, save the configuration for quick access in the future. This ensures that you can effortlessly switch between different views as your needs change.
Powerful Filtering Capabilities
Our New Quotes List also introduces enhanced filtering options to help you find exactly what you need quickly. You can now filter by one or more Quote Owners, making it easy to view quotes from a specific sales team or a subset of users. This is particularly useful for managers who need to monitor their team’s performance or for anyone looking to focus on quotes handled by specific individuals.
Find out more
Open banking comes to Reckon! Bank transfers and data feeds are now supercharged
IN A NEW DEAL WITH SISS DATA SERVICES (AUSTRALIA’S LEADING INDEPENDENT PROVIDER OF SECURE BANK DATA SERVICES) RECKON IS PROUD TO ADD POWERFUL AND SECURE BANK DATA SERVICES TO OUR PAYROLL AND ACCOUNTING SOFTWARE.
As Reckon CEO Sam Allert noted on the fresh partnership, "We’re very excited to deliver this significant enhancement for our small business customers,” said Sam Allert, CEO of Reckon. “By moving to Open
Banking, Reckon customers can now enjoy secure, reliable access to all sorts of accounts, including transaction, savings, deposits, loans and credit cards, from a wide range of banks and other financial institutions.”
This integration with the new standard for digital banking is a great step forward in terms of futureproofing Reckon’s solutions and ensuring secure and robust functionality that embraces efficiency and financial transparency.
Find out more
Quoter Product Update: June 2024
YOUR QUOTE-TOCASH PROCESS IS UNIQUE TO YOUR ORGANIZATION, WHICH IS WHY WE LOVE TO RELEASE UPDATES TO HELP YOU MAKE QUOTER YOUR OWN. THIS MONTH, WE’VE GOT FOUR UPDATES FOCUSED ON CUSTOMIZATION TO COMPLEMENT YOUR WORKFLOW.
But before we get into those, I’d like to shout out “The Mikes” (Quoter Technology Manager Mike Polga and CEO Mike Walsh) for their technical expertise and support in the planning phase of the new architecture we’re building for Reporting in Quoter.
That’s right — stay tuned for big changes coming to help you visualize profitability and recurring revenue data for your MSP.
Now, on to the latest releases!
Introducing Zoho Apptics: The all-in-one application analytics solution
TODAY'S HYPER-CONNECTED WORLD RUNS ON THE INTERNET, WHERE MOBILE APPS DOMINATE THE MAJORITY OF SCREEN TIME. THE TIMES HAVE CHANGED, AND BUSINESS RADARS GO FAR BEYOND PROVIDING ONLINE SERVICES AND MEASURING WEBSITE TRAFFIC.
Studies suggest that more than 90% of people now prefer using mobile apps over mobile-responsive websites and the time spent by users on mobile apps increased by 46% in recent years. With all these stats, it's reasonable to see how the focus has shifted toward delivering personalized and secure app experiences to users around the globe.
You need to understand whether your users find your app useful and how many of them actively engage with it.This is where analytics comes into the picture.
All about app analytics
An app analytics tool helps you collect, process, visualize, and analyze large sets of app data within minutes. Analyzing inapp behavior and monitoring app usage is a
time-tested, effective method for stakeholders to optimize its performance and experience according to user requirements.
Today, we have a wide range of application analytics solutions available on the market, helping you provide personalized experiences through mobile apps and expand your user base globally. These app analytics tools are built to ideally provide you with access to reliable, quality insights so you can make well-informed and balanced decisions for your business.
Here's where you face one of the biggest challenges: gathering reliable and accurate in-app data from users while respecting their privacy.
Struggles to find the right balance
The line between collecting useful data and invading privacy is often very thin and blurred. With new data protection laws and regulations emerging every day, you can no longer turn a blind eye to privacy.
Find out more
Customize Your Quote Reminder Intervals
When do you like to follow up on a quote? A day before it expires, or a few days after it’s sent?
With the latest enhancements to Automated Quote Reminders*, you can set customized intervals to best fit your preferences.
Not only do you get the convenience of having quote reminders automatically sent, but you can now decide when those reminders go out at the account-wide or individual quote level.
You’ll love this customization’s flexibility for optimizing the timing of your sales cycles.
Calculate Line Item Pricing Based on Markup or Margin
Find out more
DATA PLAYS A PIVOTAL ROLE IN MODERN WORK; AND IN BUSINESSES, THE ABILITY TO STORE, MANAGE, TRACK, ASSESS, ANALYZE, AND SHARE DATA SEAMLESSLY IS KEY TO DRIVING DECISION-MAKING IN THE RIGHT DIRECTION. MODERN TOOLS THAT OFFER ROBUST DATA MANAGEMENT EMPOWER TEAMS TO STAY EFFICIENT AND ACCURATE.
Whenever we mention "data management", we
have to talk about Zoho Tables.
From intuitive data entry and organization, custom views, automations, and data relationships to integrations and security, Zoho Tables offers robust capabilities to enhance the way you handle data.
Your work data is complex, vast, and constantly changing, and not everyone who's part of your business needs access to all of the data you possess.
To ensure controlled access to your data, we're now introducing View Share.
Importance of controlled access
Enhanced focus and productivity: Sharing only the required information with individuals eliminates the distraction caused by irrelevant information and helps focus on what matters to them. This also helps reduce information overload.
Find out more
OUR GOAL IS TO HELP YOU GROW YOUR BUSINESS WITH XERO. THAT’S WHY WE’VE BEEN WORKING HARD AT A RENEWED APPROACH TO OUR XERO DEVELOPER APP PROGRAMS.
We’ve updated the Xero Developer App Program to encourage more consistent and scalable growth for you — our valued Xero Developer Apps.
Tiers and benefits
There are still two tiers, ‘Connected’ and ‘Premium’, and both tiers continue to include marketing benefits.
Introducing the Latest Enhancements to Quoter’s
HaloPSA Integration
WHowever, we’ve made some updates to clarify the criteria for each tier and how the tiers differ:
What’s new?
We learned that it was hard to earn your way into the Premium tier, so we’ve revised the criteria. That means more apps can reach this tier and its benefits. Our goal is to create a scalable tiering model with improved structure and transparency so you can understand exactly how you grow with us and what benefits you receive.
Find out more
WE’RE INTRODUCING A NEW ANNUAL RECERTIFICATION SELF ASSESSMENT THAT APPS LISTED ON THE XERO APP STORE NEED TO COMPLETE BEFORE 31 AUGUST 2024. YOU’LL NEED TO COMPLETE THE ASSESSMENT IN ORDER TO STAY LISTED ON THE XERO APP STORE.
Why are we introducing this?
We want our customers to have a great experience using your integration. We’ll use the information you provide in the assessment to work with you to improve your integration and help our customers discover your app. It’ll also help inform how we improve the Xero Developer and Xero App Store experience.
The assessment will ask you about:
• your Xero integration
• your business
• your Xero App Store list-
ing
• your aspirations
• whether you continue to meet our certification checkpoints
• the best ways to contact you when we need to
We’ll provide you with:
• opportunities to give us feedback directly
• ways to improve your integration and give your customers the best experience
• ways to improve your Xero App Store listing and succeed on the Xero App Store
• information about upcoming and recent changes to our APIs
What to expect
In August, you’ll receive an email from Xero’s Governance, Risk, and Compliance (GRC) platform OneTrust asking you to launch an assessment that has been assigned to you.
Find out more
E ARE THRILLED TO ANNOUNCE SEVERAL POWERFUL NEW ENHANCEMENTS TO OUR QUOTER AND HALOPSA INTEGRATION. THESE UPDATES BRING IMPROVED SECURITY, EXPANDED FUNCTIONALITY, AND GREATER EFFICIENCY TO YOUR WORKFLOW. HERE’S AN OVERVIEW OF THE NEW FEATURES AND HOW THEY BENEFIT OUR MUTUAL QUOTER AND HALO PARTNERS.
New
Enhancements
1. HaloPSA Authentication Using Client ID and Secret
What’s New?
• We’ve introduced a new authentication method using Client ID and Secret, which no longer requires a
paid Halo license.
Benefits:
• Cost Savings: By eliminating the need for a paid Halo license, your operational costs are reduced.
• Enhanced Security: This method allows for reduced permissions, minimizing potential security risks.
• Simplified Setup: Setting up the integration is more straightforward, reducing the time and effort needed.
How It Works:
Simply generate a Client ID and Secret in Halo, then enter these credentials in Quoter to establish the connection.
Find out more
Zoho's Integrated Security-Solutions Stack Helps Global Organizations Strengthen Data Protection and Privacy Across Their Businesses
Aligning four powerful security and privacy solutions, Zoho's security stack improves businesses' protections against breaches and attacks, which are increasing in frequency and cost.
ZOHO CORP., A LEADING GLOBAL TECHNOLOGY COMPANY, TODAY ANNOUNCED NEW SAFEGUARDS TO ITS REINFORCED, TIGHTLY INTEGRATED SECURITY TECH STACK. COMPRISED OF FOUR SOLUTIONS—ULAA, ZOHO DIRECTORY, ZOHO ONEAUTH, AND ZOHO VAULT—ZOHO'S SECURITY STACK PROVIDES BUSINESSES THE HIGHEST LEVEL OF PROTECTION AGAINST TRACKING, BREACHES, AND ATTACKS, WITHOUT SACRIFICING EMPLOYEE AND ORGANIZATIONAL PRODUCTIVITY.
Today, security breaches are more frequent and costly than ever before. A recent IBM report estimates the global average cost of a data breach in 2023 to be $4.45 million, more than enough to put a company out of business. To help global organizations defend against growing threats,
Zoho's stack is comprised of a privacy-first browser (Ulaa), workforce identity and access management (IAM) platform (Directory), multi-factor authentication (OneAuth), as well as secure password management (Vault).
“Metrigy’s research data shows that attacks against business applications are continuing to increase, while at the same time, many organizations lack a comprehensive, full-stack approach for protecting themselves against growing risk,” says Irwin Lazar, President and Principal Analyst at Metrigy.
“In addition, adoption of generative AI is growing, with nearly 85% of our research participants using or planning to use it while only 39% have implemented a generative AI security strategy."
Keep reading
May release notes: Introducing Airwallex Bank Feeds integration with Quickbooks, multi-currency Global Accounts, and Klarna enhancements
Business Account
Streamline your finances with Airwallex’s QuickBooks Bank Feeds integration
We're excited to announce that Airwallex now connects seamlessly with QuickBooks Online for bank feeds globally, with Canada and EU/ UK coming soon. Customers can now seamlessly sync their Airwallex transactions across all currencies to Quickbooks eliminating tedious data entry and speeding up their reconciliation process.
Customers can automatically import and categorize transactions from Airwallex into Quickbooks’ chart of accounts. Once imported, customers simply review and approve to complete reconciliation. This launch enhances our existing Ex-
penses and Bills integration with Quickbooks, which enables customers to sync their expense management and bill pay workflows.
Receive funds in multiple currencies through a single Global Account
We have exciting news for our customers looking to open Global Accounts in Denmark, Hong Kong, and Singapore.
Managing your international finances got a whole lot easier. You can now receive funds in multiple currencies with just one Global Account.
This eliminates the need to juggle multiple Global Accounts and separate banking details, saving you time and reducing costs.
Keep reading
We’re upgrading our core Dext Prepare product and combining it with features from Dext Precision and Dext Commerce to create one seamless experience. We’re also releasing new features to give you integrated approvals, mileage tracking and supplier statement extraction and verification capability.
AFTER CAREFUL THOUGHT, STEERED BY INVALUABLE FEEDBACK FROM OUR CUSTOMERS, WE’RE PLEASED TO ANNOUNCE THAT WE’RE UPGRADING DEXT PREPARE, AND COMBINING IT WITH FEATURES FROM DEXT PRECISION AND DEXT COMMERCE TO CREATE ONE INTEGRATED EXPERIENCE.
In this blog, we’ll be taking you through everything you need to know. Here, you’ll find out why we’re doing it, how we’ll do it and what it means for you and your clients.
Why are we combining our products?
Accurate, current business
data has always been the foundation that connects businesses, bookkeepers and accountants. In today’s world, however, businesses are moving faster and they expect more from their advisors.
Alongside that, compliance continues to digitise at pace, with bookkeepers and accountants striving to meet new requirements and provide more value in line with legislative change.
The challenge that bookkeepers and accountants face, in light of today’s landscape, is ensuring that digital processes are connected and data is up to date and relevant.
Keep reading
Press release:
Joiin celebrates B Corp Certification
JOIIN IS THRILLED TO ANNOUNCE ITS B CORP CERTIFICATION, AN INTERNATIONAL ENDORSEMENT THAT RECOGNISES THE COMPANY’S COLLECTIVE COMMITMENT TO UPHOLDING THE HIGHEST STANDARDS OF SOCIAL, ECONOMIC, AND ENVIRONMENTAL RESPONSIBILITY.
B Corp – a force for good:
Certification means that Joiin is now part of a community of businesses leading the way for a better future, putting people, communities and the environment we all live in first.
Find out more
Introducing the new Xero Developer Growth Program
HELPING YOU GROW YOUR BUSINESS IS OUR GOAL, AND WE COULDN’T BE MORE THRILLED TO ANNOUNCE OUR NEW XERO DEVELOPER INITIATIVE: THE XERO DEVELOPER GROWTH PROGRAM.
We know that growing your business on your own can be challenging, and we want to be here to support apps at every stage.
What’s the Growth Program?
The Growth Program is a year-long initiative for a select group of apps. Our goal is to help accelerate the growth of your app through increased promotion, dedicated support and collaborative opportunities with Xero that increase your app’s revenue and subscribers.
Who’s eligible?
The Growth Program is only available to apps that are listed on the Xero App Store. All Connected tier apps published on the Xero App Store are eligible to apply.
Find out more
Reckon has selected ACSISS, by SISS Data Services to deliver an enhanced bank data feed solution, using Open Banking
AUSTRALIA’S LEADING INDEPENDENT
PROVIDER OF SECURE BANK DATA SERVICES, SISS DATA SERVICES, HAS BEEN SELECTED BY RECKON, A LEADING AUSTRALIAN ACCOUNTING AND PAYROLL SOFTWARE PROVIDER, TO DELIVER SECURE BANK DATA FEED SERVICES FOR THEIR CUSTOMERS.
Reckon customers will benefit from the ACSISS solution, which uses open banking technology to securely gather their transaction data from over 100 banks and other financial institutions and covers a wide range of account types.
“We’re very excited to de-
Chaser wins Best Technology Provider at
the 2024 Credit Awards
liver this significant enhancement for our small business customers,” said Sam Allert, CEO of Reckon. “By moving to Open Banking, Reckon customers can now enjoy secure, reliable access to all sorts of accounts, including transaction, savings, deposits, loans and credit cards, from a wide range of banks and other financial institutions.”
Grant Augustin, CEO and founder of SISS Data Services reflected on the partnership with Reckon, saying;
“We’re delighted to be working with Reckon – another innovative Australian technology firm"
Find out more
StockTrim Launches Seamless Integration with Fishbowl Inventory
STOCKTRIM, A LEADER IN INVENTORY FORECASTING SOFTWARE, IS THRILLED TO ANNOUNCE A NEW INTEGRATION WITH FISHBOWL INVENTORY, A COMPREHENSIVE INVENTORY MANAGEMENT SYSTEM. THIS POWERFUL COLLABORATION BRINGS TOGETHER TWO DYNAMIC SOLUTIONS, ENHANCING THE EFFICIENCY AND ACCURACY OF INVENTORY PLANNING AND MANAGEMENT FOR SMALL AND MEDIUM-SIZED ENTERPRISES (SMES).
Unlocking New Potential for Inventory Management
StockTrim is designed to predict future stock requirements, helping businesses manage inventory more effectively. By integrating with Fishbowl Inventory, StockTrim can now seamlessly access real-time data from Fishbowl’s robust inventory management system. This
synergy enables businesses to optimize their inventory levels, reduce stockouts and overstocking, and streamline their overall supply chain operations.
Why This Integration Matters
Fishbowl Inventory is known for its extensive capabilities in inventory control, manufacturing, and order management.
With StockTrim's advanced forecasting algorithms and Fishbowl’s detailed tracking and management features, businesses can now enjoy:
• Enhanced Forecasting Accuracy: Leverage real-time data from Fishbowl to make precise inventory predictions and decisions.
• Optimized Inventory Levels: Reduce excess stock and prevent stock-outs, ensuring optimal inventory levels at all times.
Find out more
PLEASED TO SHARE CHASER HAS WON THE BEST TECHNOLOGY PROVIDER (COLLECTIONS) AWARD AT THE 2024 CREDIT STRATEGY AWARDS. AFTER BEING SHORTLISTED FOR THE AWARDS IN MAY IT IS AN HONOR TO BE RECOGNIZED BY THE PRESTIGIOUS CREDIT STRATEGY GROUP AS A WINNER, FOR CHASER'S COMMITMENT TO PROVIDING BUSINESSES AROUND THE GLOBE WITH CUTTING-EDGE TECHNOLOGY AND AI TO HELP THEM PROTECT AND BRING THEIR REVENUE IN FASTER.
The 25th annual Credit Awards was held at the Celtic Manor in Newport, Wales,
as part of Credit Strategy's 2024 Credit Week event.
The awards recognize outstanding achievements in the credit management industry. The Best Technology Provider (Collections) award recognizes organizations taking an approach to technology that is more advanced or innovative than the industry standard, and are generating concrete results. Chaser is thrilled to be recognized by the Credit Strategy group again in 2024 after winning the Best use of Technology award in 2022, and being a finalist for this category as well as Best company to work for in 2023.
Find out more
Airwallex integrates with Intuit QuickBooks to provide seamless
multicurrency reporting
AIRWALLEX, A LEADING GLOBAL PAYMENTS AND FINANCIAL PLATFORM FOR MODERN BUSINESSES, TODAY ANNOUNCED AN INTEGRATION WITH QUICKBOOKS, THE LEADING FINANCIAL TECHNOLOGY SOFTWARE PLATFORM AMONG BUSINESSES OF ALL SIZES.
With the QuickBooks Bank Feed integration, Airwallex customers can connect with the popular accounting software and seamlessly sync their Airwallex transactions across supported currencies into their QuickBooks Online account – eliminating tedious data entry and speeding up the reconciliation process.
“As businesses scale globally, everything gets more complex – including accounting. Airwallex’s Bank Feed integration with QuickBooks means our customers
Airwallex for Startups debuts
in Singapore to help drive local startup success
AMID INCREASING POSITIVE SENTIMENT ABOUT THE BUSINESS CLIMATE, AIRWALLEX HAS LAUNCHED ITS ‘AIRWALLEX FOR STARTUPS’ PROGRAM IN SINGAPORE TO FURTHER EMPOWER THE CITYSTATE'S COMMUNITY OF OVER 55,000 STARTUPS.
The program aims to empower startups to grow and scale their businesses, offering them tips and tools to manage their finances more effectively from the start of their journey and enable them to better connect with the ecosystem.
As Airwallex continues to support businesses globally in their expansion, they are now launching this program in Singapore.
Singapore is the third market where Airwallex has launched this exciting initiative, which began in Hong Kong and Australia.
Find out more
We’re answering your questions about new invoicing
can skip time-consuming, error-prone manual data entry for a faster, more holistic and more accurate view of their books across markets and currencies,” said Ravi Adusumilli, Executive General Manager, Americas.
“Ultimately, QuickBooks’ accessibility coupled with our global financial infrastructure and software will enable stronger financial decision-making throughout the reporting process.”
“The global opportunity for small and growing businesses is huge, and business owners need the right accounting and payment tools to capitalize on it,” said Imran Haider, Director of Product Management, Intuit Data Exchange. “We’re excited to work with players like Airwallex to simplify the accounting function for global businesses.”
Find out more
ARLIER THIS YEAR WE COMMUNICATED THAT WE’LL BE RETIRING THE OLDER VERSION OF OUR INVOICING PRODUCT – CLASSIC INVOICING – ON 2 SEPTEMBER 2024. YOU MAY HAVE QUESTIONS ABOUT THIS CHANGE, SO WE THOUGHT WE’D ANSWER A FEW OF THE MOST COMMON ONES PEOPLE HAVE BEEN ASKING.
Does new invoicing support repeating invoices?
Yes, new invoicing supports repeating invoices. Previously, the workflow for creating repeating invoices in new invoicing was a bit different to classic invoicing. However, we’ve recently made updates so that creating repeating invoices works the same as in classic invoicing.
You can either start with a single draft invoice and go to the drop-down menu in the top-right corner to make it repeating, or head to the ‘Repeating’ tab on the invoice list page to create a new one. In this tab, you’ll also find all current repeating invoices. Find out more
UPCOMING EVENTS
AU Webinars
UK Webinars
How Dext and Xero connect to simplify the bookkeeping workflow
Paul Lodder, VP of Accounting Product & Strategy at Dext, talks us through the value of greater collaboration between software providers.
By Paul Lodder, VP of Accounting Product Strategy, Dext
BY NOW, IT’S CLEAR ACCOUNTANCY IS HEADING IN ONE DIRECTION – A WORLD WHEREBY ACCOUNTANTS AND BOOKKEEPERS WILL SPEND FAR LESS TIME ON REPETITIVE BOOKKEEPING TASKS, AND FAR MORE TIME ON THE WORK THEY’D RATHER BE DOING. THE VEHICLE FOR ALL OF THIS IS TECHNOLOGY, MOST NOTABLY AUTOMATION.
If you’re a regular reader of the XU magazine, you'll know that this is something we feel strongly about at Dext. And, it’s got us thinking about what role we have to play in helping this new industry take shape. In short, the onus is as much on us as it is our partners.
If technology and automation is the answer, then it’s up to software providers to ensure users get what they need from the tools they use. And, with accountants and bookkeepers implementing multiple types of software, the first point of call – for
us software providers – is to make sure we connect with one another.
Integrations promote collaboration and ensure a smoother way of working with uninterrupted workflows. It’s an essential component of any software, and it’s one we’re always looking to build on at Dext.
The Xero-Dext connection
One example – and perhaps our most important –is our integration with Xero. To the untrained eye it may seem that both share similar functionalities and serve the same purpose, and, to some extent, that's true. But the real value for accountants and bookkeepers (and their clients) is when these two softwares combine.
Through a simple integration, you’re able to connect your bookkeeping and accounting workflows, ensuring a smooth flow of data from the moment your client submits a transaction, to the
point at which you’re ready to publish items in Xero.
In this article, I’ll be highlighting a handful of the core use cases where that Dext-Xero connection is most effective. This is just one example of how tech providers are recognising the value of stronger integrations for their customers – and long may it continue.
Use case: HMRC & VAT compliance
Together, Dext and Xero make the VAT return review process so much easier. When you create a VAT return in Xero, you may have queries or concerns about certain transactions. Without Dext, you may not have visibility of the supporting paperwork associated with each transaction. That’s a lot of digging around for something that should be a quick and simple check. The Dext integration provides you with the option to view that paperwork within Xero itself, speeding up your VAT return review significantly.
Use case: HMRC & VAT enquiry
Any VAT return comes with the risk of an enquiry from HMRC. As we all know, this is a stressful, time-consuming predicament – with the possibility of a penalty plus interest. When an assessment is raised, it may be due to incomplete records. In other words, your return is missing information that has resulted in a possible under-declaration of VAT.
Dext and Xero mitigate the risk of an enquiry on two fronts. Firstly, Dext ensures real-time data collection that, if published on time, gives you everything you need in Xero for an accurate VAT return. But, if HMRC does intend on enquiring into the VAT returns, Dext and Xero are on hand to make sure you have easy access to all the information that the officer needs. Instead of digging through paperwork, Dext’s advanced search allows you to locate and export the relevant paperwork in a matter of clicks.
Use case: Cash flow and payments
Together, Dext and Xero facilitate the entire accounts payable process, ensuring accuracy and completeness at every stage, but more so, giving you confidence that your clients are paying and getting paid correctly. When looking at your ‘Aged Payables Detail’ in Xero, you may want to query a particular invoice. With Dext, everything you need to answer that query can be found within the Xero platform; there’s no need to search for or request a copy of the invoice – it’s there right in front of you. With the Supplier Statements functionality, you can also cross reference the balance owed to a supplier with the balance in Xero and fix any discrepancies between the two.
Use case: Year-end process (reviews)
Whether you’re reviewing management accounts or year-end statutory accounts, context is key. But,
without Dext or Xero, finding that context can be a long-winded process. With Dext’s Supplier Rules, you can extract key information from line items on invoices, giving you a clear indication of the nature of that invoice.
It saves you from having to trawl through multiple invoices – giving you time back and reducing risk.
Use case: Billable expenses
Whenever you raise a sales invoice, you need to know whether or not to add a billable expense. It’s an important thing to remember as you may have already paid out the expense – and until that money comes back into the business, your client is out of pocket.
Together, Dext and Xero streamline this small but necessary workflow. In Dext, you can mark the expense as re-billable and assign it to a customer.
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Features
The Power of Automated & Integrated Spreadsheets
How G-Accon Scales Financial Processes With Two-Way Data Efficiency
By Oriana Gorrin, Freelance Business Copywriter
IN THIS INTERVIEW, DAVE SELLICK FOUNDER OF SIDGROVE DISCUSSES
HOW TO INTEGRATE G-ACCON AND GOOGLE SHEETS TO IMPROVE FINANCIAL REPORTING.
"There's a whole bunch of mini solutions that I've created with the tool, and over the last year, just even the ability with G-Accon […] to push (data) back into accounting software has been one of the most transformational things for the way I do accounting.”
Unmatched Scalability
G-Accon helps improve scalability and financial reporting quality for his clients.
Dave explains it automates the data transfer between Xero and his reporting system.
“For any given management reporting, I might have like 20 or 30 different reports I need to pull from Xero […] I can basically update (this) data from the accounting software into my management reporting at the click of a button,” he highlights.
He also stresses G-Accon's role in scaling operations.
“When I have a new client, it's just a case of copying the spreadsheets, loading the same templates in G-Accon,
and within 10 minutes or so, I can have (complete) management accounts (data) automation set up.”
Leveraging the Power of Spreadsheets
As Dave shows, one of G-Accon's top benefits is that G-Accon enables users to leverage the power of spreadsheets by sitting natively within Google Sheets as an add-on.
He states: “We don't need to have a massive tech stack if we're really harnessing and leveraging the power of spreadsheets."
"And I think G-Accon allows us to do that by creating the connectivity from accounting software through to spreadsheets."
"It means we can […] really focus on just getting the best out of the spreadsheet tools.”
Multi-Entity Reporting Benefits
Dave also emphasises the multi-entity reporting features.
As he puts it, “We can pull down from not just one company, we can pull down from as many companies as we want all within the same spreadsheet […] we can then set up postings to post in between those companies, and this is just a
Transforming Payroll for Accountants, Bookkeepers & Payroll Bureaus
Leveraging Technology to Overcome Time & Profitability Challenges while Enhancing Accuracy
By Jonathan Mifsud, Co-Founder, Buddy
PAYROLL; THE REPEATING UNDERPRICED PROCESS YOU ARE DOING FOR CLIENTS. ONE YOU WISH TO AUTOMATE AND PROVIDE MORE ADDED VALUE.
These employers, due to their small size and the inherent complexity that was added to payroll over the years, do not have the necessary expertise to run and operate payroll in house. They rely on professionals like yourselves to pay their staff accurately.
Yet payroll remains a much-undervalued service, seen very much as a commodity, where I’ve heard prices from as low as £4 per payslip.
workflow that would be really difficult within Xero […] I'd say that's one of the really game-changing (workflows) that I've been (using G-Accon for) recently.”
Spreadsheets Are Thriving
According to Dave, spreadsheets, the format in which G-Accon resides, are more relevant than ever.
"Spreadsheets are the best tool for management reporting and forecasting," he claims. Dave believes there needs to be more awareness of spreadsheets' potential.
When it comes to reporting, Dave affirms, “(Accountants) know spreadsheets are good; they just don't think they can look beautiful [...] I'm here to show people that they can also be beautiful… something that looks as beautiful as the web apps.”
Dave values G-Accon for offering high-quality yet affordable products.
He says, “I appreciate what G-Accon are doing, and it's a great product.”
Comments by Dave Sellick about G-Accon were not solicited or paid for in any form. He freely offered his honest thoughts and statements.
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Equally the criticality of payroll within the service provider space, be it a bookkeeper, an accountant or a payroll bureau is rising. Messing up payroll doesn’t take too much, however what we found was that once employees start losing trust in getting paid on time and correctly, this starts eroding all their relationships.
Studies show that 44% of employees consider leaving a job once they are not paid correctly, pushing up turnover within small businesses which can be significantly detrimental. This further drives a strain in their relationship with their trusted accountant or bookkeeper; encouraging them to look elsewhere.
Yet, when margins are extremely tight, how can you elevate your service to ensure better accuracy and less workload on your already stretched teams?
The key to improving payroll profitability and quality lies in understanding the types of clients that you serve and the technology that you can leverage.
Payroll clients largely fall into three buckets:
1. The Payrolls that never change, largely director only.
2. Salaried Payrolls that have some staff turnover; and require Holiday Pay and
other absences
3. Employers who are heavy on Time and Attendance, where holiday pay is at its most complex and are generally heavy on computation requirements.
Most accounting firms we work with prefer people from the first and second group, where the complexity is reduced. Yet, they spend significant amounts of time doing data entry, (repeated data entry) with little time left to add value.
That’s where key technology partners come in.
Having identified three key issues; there is no onesize-fits-all solution for these businesses. Yet the first step that the industry needs to make is to empower the collaboration between the service provider and the client.
Streamlining Payroll Review
The easiest first step to enable collaboration is the payroll review stage. To date; this largely happens through email communication or WhatsApp messages. Approvals done online through an auditable system can ensure there is no delay between the final approval and the team’s payout. A key area to ensure timeliness.
Integrating Data Entry & Absence Management
The next natural step for employers with Salaried Payrolls and employers requiring Holiday Pay, is the ability to notify their partner of starters, leavers and all absences. An integrated absence management system can give the edge, especially when calculating holiday pay. More interestingly, most businesses see this as being external to payroll, and may happily pay over and above for the ability to use holiday management software
Empowering Employers with Hourly Workers
For Employers that are heavy on time and attendance; this could mean using the same payroll solution to track and store the related data, or else leverage a solu-
tion that can integrate into the Payroll System. Top-tier payroll systems can convert raw working hours into accurate pay elements, based on working locations, roles and even time of day.
That leaves our first group, the payrolls which are always the same. What can we do there?
Following much consultation and discussions with professionals in the industry our team presented EverRoll™ the first fully automated payroll designed for service providers.
So what’s EverRoll™ about?
Imagine setting up your payroll clients which require little month-to-month hand-holding going into a system that can draft up the payroll, send it for review and once approved email payslips to all the staff, file RTIs, pay to staff through an integrated partner and even send that Journal to your favourite accounting software. All this while giving you oversight of the whole process and running like clockwork on a fixed schedule.
The best part is that if clients play ball, the system can handle Holiday Pay, and those Time and Attendance calculations we mentioned earlier for complex clients.
Does EverRoll™ need human oversight?
Like any AI or technology system, you want to ensure the payroll is correct. While there can be automated controls, nobody knows your client better than yourself. So you’d be ideally placed to identify data quality errors within the process. Furthermore, if you’re looking for that value-add, we hope that by the time you win through automation, you can give back to your client, driving up your worth to the client and increasing stickiness.
Why would they need us if tech can do it?
Through AI and a little bit of knowledge these days you can do a lot of things.
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PayPal Ventures Leads Gynger's $20 Million Series A Funding Round
Gynger, the first embedded financing platform for technology purchases, also announced the close of up to $100 million debt facility to fuel its growth as it pioneers the rapidly expanding tech purchasing landscape.
GYNGER, THE FIRST EMBEDDED FINANCING PLATFORM FOR TECHNOLOGY PURCHASES, ANNOUNCED TODAY THAT IT HAS RAISED $20 MILLION IN SERIES A FUNDING, LED BY PAYPAL VENTURES, WITH PARTICIPATION FROM GRADIENT VENTURES, VELVET SEA VENTURES, BAG VENTURES AND DECIENS CAPITAL.
Gynger will use the funding to scale its team and operations and accelerate its vision of transforming its embedded financing platform into a full-scale payments solution for buying and selling of technology.
Revolut: Buy crypto directly in 10+ new wallets
GREAT NEWS — THE LIST OF SUPPORTED WALLETS AND EXCHANGES HAS JUST GOTTEN BIGGER. FOLLOWING OUR METAMASK PARTNERSHIP, WE’RE NOW LIVE WITH 10+ WALLETS AND DEFI EXCHANGES THANKS TO OUR INTEGRATION WITH ONRAMPER.
Onramper powers the ‘Buy Crypto’ section of many wallets and exchanges, providing you with a choice of providers to buy crypto from — and we're now on that list! Discover a more convenient way to buy crypto from Revolut, with low fees and less steps. Buy crypto using Revolut Ramp directly in the following wallets and exchanges:
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In addition, Gynger secured a debt facility from CIM (Community Investment Management) with an agreement to fund up to $100MM.
The new facility will enable Gynger to scale its financing of technology spend to meet increasing customer demand.
"Over the last year, we have experienced tremendous growth and demand," Mark Ghermezian, Gynger's CEO and Founder commented
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PayPal Names Srini Venkatesan as Chief Technology Officer
PAYPAL HOLDINGS, INC. (NASDAQ: PYPL)
TODAY ANNOUNCED THE APPOINTMENT OF SRINI VENKATESAN AS CHIEF TECHNOLOGY OFFICER (CTO), EFFECTIVE JUNE 24, REPORTING TO PAYPAL PRESIDENT AND CEO ALEX CHRISS.
In this role, Venkatesan will lead the development and implementation of technology across the entire PayPal ecosystem, including analytics and data science, artificial intelligence (AI) and machine learning, information security, infrastructure operations, and product engineering.
GoCardless: More business reporting at your fingertips
WE’RE EXCITED TO ANNOUNCE WE’VE LAUNCHED AN INTERACTIVE REPORTING TOOL, NOW AVAILABLE DIRECTLY IN THE GOCARDLESS DASHBOARD.
It’s brand new and designed to simplify the way you analyse and manage your business performance, providing you with clear, actionable insights at a glance.
Good business reporting is key
Understanding your payments and overall business performance can be a long process, often requiring the export of data into clunky CSV files. The GoCardless reporting dashboard helps address some of those challenges, offering
a streamlined, user-friendly experience that puts critical information you need right at your fingertips.
Interactive and informative
The interactive dashboard means you can drill down into your payments and customer data, in just a few clicks. Whether you're analysing trends or pinpointing areas that need attention, the dashboard makes it easier to get the insights you need.
Clearer insights
The dashboard gives you both a view of what’s happening to your payments today, as well as what’s happening with trends over time.
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"Srini is a seasoned technologist and leader with a successful track record of building and scaling technology organizations, from early-stage startups to the world's largest retailer," said Chriss.
"As we execute our mission to revolutionize commerce globally, Srini's experience leading technology, digital transformation, and AI personalization from inside some of our largest customers and partners will be invaluable. I'm thrilled to have Srini join the PayPal team."
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Revolut commits to new global HQ in Canary Wharf, as UK customer base hits nine million
REVOLUT, THE GLOBAL FINTECH NOW WITH OVER NINE MILLION UK CUSTOMERS AND 40 MILLION GLOBALLY, HAS ANNOUNCED IT WILL RELOCATE ITS GLOBAL HEADQUARTERS TO THE NEWLY REFURBISHED YY LONDON BUILDING IN THE CENTRE OF CANARY WHARF, COMMITTING TO A TEN YEAR LEASE.
The move, which is due to take place in May 2025, will help facilitate the future growth of its UK and global operations.
New Revolut feature to block pickpockets and phone snatchers from accessing customer savings ahead of summer travel season
REVOLUT, THE GLOBAL FINTECH WITH OVER 8 MILLION UK CUSTOMERS AND 40 MILLION GLOBALLY, IS TODAY INTRODUCING WEALTH PROTECTION, AN EXTRA LAYER OF IN-APP IDENTITY VERIFICATION, DESIGNED TO PREVENT THIEVES FROM ACCESSING CUSTOMER SAVINGS WITHIN THE REVOLUT APP.
Wealth Protection will help protect customers who have had their unlocked phone stolen, or password and face recognition compromised, and stops crimi-
nals from withdrawing customers’ hard earned savings out of their accounts.
Many banking apps rely on just one biometric authorisation (like facial or fingerprint recognition) built into mobile devices, usually when opening the app, which is then completely vulnerable if a pickpocket gains access to the device and changes the registered fingerprint or image to their own. Revolut is going one step further with its advanced facial technology.
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Revolut will be based in the heart of Canary Wharf’s business district, having previously occupied an office in Westferry Circus.
The company conducted a city wide search for its new global headquarters, opting for the YY London building due to its best in class workspace, nearby amenities, and leading ESG credentials. YY London’s innovative design prioritises sustainability, employee wellbeing and productivity.
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GoCardless partners with Celigo to scale indirect customer acquisition globally
BANK PAYMENT COMPANY GOCARDLESS HAS ANNOUNCED A PARTNERSHIP WITH INTEGRATION AND AUTOMATION PLATFORM CELIGO TO ACCELERATE ITS GROWTH THROUGH INDIRECT CHANNELS.
Leveraging Celigo’s integration platform (iPaaS) will enable GoCardless to build integrations between its payment platform and the back-end systems commonly used by businesses today.
This will open up new opportunities to acquire customers in all of its markets, without the need to build custom integrations into hundreds of platforms.
