Pay on iPhone for Australian small businesses with a Stripe account to accept contactless payments
An easy, secure and private way to accept contactless payments with an iPhone and the Xero Accounting iOS app
XERO, THE GLOBAL SMALL BUSINESS PLATFORM, HAS LAUNCHED TAP TO PAY ON IPHONE, ENABLING XERO CUSTOMERS IN AUSTRALIA WITH A STRIPE ACCOUNT TO SEAMLESSLY AND SECURELY ACCEPT IN-PERSON CONTACTLESS PAYMENTS WITH THEIR IPHONE AND THE XERO ACCOUNTING APP — NO ADDITIONAL HARDWARE OR PAYMENT TERMINAL NEEDED.
Tap to Pay on iPhone enables businesses to accept
all forms of contactless payments, including contactless credit and debit cards, Apple Pay, and other digital wallets. Using Tap to Pay on iPhone is easy, secure and private. With Tap to Pay on iPhone, at checkout, the merchant can simply prompt the customer to hold their iPhone or Apple Watch with their contactless credit or debit card, Apple Pay or other digital wallet to pay with their contactless credit or debit card near the merchant’s iPhone.
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ANNA Money flies past 550% compound annual growth, as Aussie SMEs embrace digitised financial services
NE YEAR AFTER ACQUIRING BUSINESS CREDIT CARD FINTECH CAPE, AI-POWERED SME FINTECH ANNA MONEY HAS REVEALED 550 PERCENT COMPOUND ANNUAL GROWTH AND OTHER METRICS THAT INDICATE A STRONG SHIFT BY AUSTRALIAN SMES TOWARDS DIGITISED FINANCIAL SERVICES.
ANNA Money, which has since absorbed Cape’s brand and products, revealed that volumes of SME financial transactions are now at record highs. Total payment volume (TPV) in March 2025 ballooned 287 percent yearon-year (YoY) from March 2024, while TPV in Q1 2025 (January to March) also increased by 173 percent YoY compared to Q1 2024.
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FISERV, INC. (NYSE: FI), A LEADING GLOBAL
PROVIDER OF PAYMENTS AND FINANCIAL SERVICES TECHNOLOGY, TODAY ANNOUNCED IT ACQUIRED PINCH PAYMENTS, A PAYMENT FACILITATOR (PAYFAC), KNOWN FOR LEADING PAYFAC ENABLEMENT AND ITS MANAGEMENT PLATFORM “GLASSBOX”.
Founded in 2017 and serving approximately 2,000 merchants throughout Australia and New Zealand, Pinch offers comprehensive tools to facilitate payments more efficiently at scale.
This acquisition provides Fiserv with a payment orchestration platform that supports flexible service options and speed to market for PayFacs, ISVs, BPSPs, ISOs and Enterprises.
Bringing Pinch into the Fiserv ecosystem enhances the Company’s reach with access to more merchants and delivery of new, innovative solutions including the leading cloud-based SaaS business operating platform with Clover to merchants throughout APAC. Find out more
Planyard Updates April 2025
AT PLANYARD, WE’RE ALWAYS WORKING TO MAKE CONSTRUCTION COST CONTROL SIMPLER, FASTER, AND MORE INSIGHTFUL FOR OUR USERS. THIS MONTH, WE’VE ROLLED OUT A SIGNIFICANT SET OF UPDATES THAT ENHANCE HOW TEAMS HANDLE CASHFLOWS, FORECAST PROFITABILITY, AND STAY ON TOP OF PROJECT CHANGES— WITHOUT RETURNING TO SPREADSHEETS.
Let’s explore what’s new.
Introducing Budget Timelines (Advanced CVRs)
Understanding how your project budget changes over time is essential—but traditional tools rarely offer
XU BIWEEKLY - No. 103
Newsdesk:
If you have any news or updates that you would like us to consider for inclusion in the next edition of the XU Biweekly, please email us at: newsdesk@xumagazine.com
If you submit unsolicited material to us, you automatically grant XU Magazine Ltd a licence to publish your submission in whole or in part in all/any editions, including in any physical or digital format, throughout the world. Any material you submit is sent at your risk and, although every care is taken, neither XU Magazine Ltd nor its employees, agents or subcontractors shall be liable for loss or damage. The views expressed in this publication are not necessarily the views of XU Magazine Ltd, its editors or its contributors.
that visibility. That’s where Planyard’s new Budget Timeline (Cost Value Reconciliation) comes in. It gives you a clear, monthby-month breakdown of how and why your budgets evolve.
• Trace budget shifts: Click directly into any line to see what caused the change— whether it’s a revised PO, subcontract, or internal adjustment.
• Shareable views: Each timeline can be shared via URL, making collaboration with stakeholders simple.
Find out more
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Multiple Payee Checking with Modulr: Peace of mind for payroll and supplier payments
AT MODULR, WE’RE CONSTANTLY LOOKING FOR WAYS TO IMPROVE THE PAYMENT EXPERIENCE FOR OUR USERS AND PROTECT BUSINESSES AGAINST FRAUD.
That’s why we’re excited to announce the launch of our latest feature, Multiple Payee Checking, available free of charge to all business payments users.
Designed to enhance accuracy and security, this new functionality will make payroll and supplier payments simpler, safer, and more transparent.
What is Multiple Payee Checking?
Multiple Payee Checking—also referred to as Multiple Confirmation of Payee (CoP)—is a tool that enables businesses to verify payment details for multiple recipients in one streamlined process.
Before payments are sent, the system cross-references recipient information to ensure it matches the intended beneficiary’s bank account details. This added layer of confirmation is crucial in reducing errors and protecting against fraud.
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Fyorin and Discover® Global Network Sign Agreement to Enhance Global Card Payments
FYORIN, A LEADING PROVIDER OF INNOVATIVE FINANCIAL OPERATIONS SOLUTIONS, IS EXCITED TO ANNOUNCE ITS STRATEGIC RELATIONSHIP WITH DISCOVER® GLOBAL NETWORK, A GLOBAL PAYMENTS NETWORK SERVING 345 MILLION CARDHOLDERS WORLDWIDE, WITH $589 BILLION IN GLOBAL SPEND IN 2023.
Discover Global Network is accepted at more than 70 million global merchant locations worldwide and millions of additional micro-merchants connected to marketplace and payment facilitators across 200+ countries and territories.
This collaboration is set to provide businesses, particularly those operating digitally like e-commerce and media buying companies, with a tool to enhance their bottom line.
Fyorin has gained recognition for its visionary approach to financial technology, notably its unique strategy of building a horizontal network of financial institutions. This approach allows businesses to diversify liquidity risk, unify financial data, and streamline compliance processes through a single portal, offering a seamless global financial ecosystem. Fyorin’s platform enables finance teams to multi-bank through one single solution on a global basis due to its strong ecosystem of financial institutions. This enables businesses to localise their payments strategy both for receivables and payables for bank transfers and card payments.
Discover ® Global Network, with its global reach and acceptance, aligns with Fyorin's vision. Together, Fyorin and Discover Global Network offer a game-changing solution:
Business-to-Business (B2B) virtual cards that can help lower payment costs and bolster the bottom line for companies operating digitally.
Unlocking Savings Through Discover B2B Virtual Cards
This collaboration will change how businesses manage their expense management. With use cases ranging from corporate travel to media buying on platforms like Google and Facebook to online subscriptions, these virtual cards help empower companies to:
• Reduce Payment Costs: Discover B2B virtual cards offer a cost-effective way to manage digital expenses. By streamlining payments and reducing the complexity of cross-border transactions, businesses can lower transaction fees and foreign exchange costs.
• Improve Bottom Line: The savings achieved through Discover B2B virtual cards can lead to improved profitability. Businesses can convert payments costs into earnings, boosting their bottom line and reinvesting in growth and innovation.
• Streamline Reconciliation and Receipt Collection:
Through the rich data collected on card payments, alongside features and flexibility built by Fyorin, the solution can streamline the whole process from invoice collection, chasing employees, to posting into your preferred accounting system.
Through this work, merchants in various sectors will benefit from the combined power of Fyorin's global network of financial institutions and Discover® Global Network to enhance their business expense management. This collaboration will help
them to operate globally in a more seamless way, which may open doors to new markets and growth opportunities.
This agreement will continue to fuel innovation in the fintech space, leading to the development of cutting-edge financial products and services that cater to the evolving needs of businesses seeking international payment systems.
Businesses can further streamline their financial operations, consolidating their payment processes within Fyorin's unified platform, enhancing efficiency, and reducing operational costs.
"We are excited about the possibilities this collaboration holds for businesses operating digitally," said Christian Joseph Agius, Co-Founder & COO of Fyorin.
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Aider: Monthly Period Close Checklist now available
Reduce the stress of your bookkeeping and period close jobs & unlock better advisory service
What’s new?
You asked and we listened.
Period Close Checklists are now available for your monthly data due diligence and advisory tasks, as well as for the existing Annual Accounts and GST/BAS preparations.
What benefits does it have for advisors?
• Improve the efficiency and quality of your bookkeeping and advisory services.
• Help your bookkeeping team stay focused on the tasks needed to close a month end.
• Ensure your advisors have reliable data to base their advice on.
• Gain additional advisory insights by monitoring account level trends on a monthly basis.
• Avoid the stressful peaks and troughs in your compliance and period close work.
• Spread the workload evenly throughout the year to avoid burnout at period and year ends.
• Easily close your clients’ books by sorting out issues while the trans-
Vuala Launches Seamless Xero Integration to Automate Invoice Collection and Boost Accounting Efficiency
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actions are still fresh in their mind.
• Need help convincing your client to stay on top of their bookkeeping? Check out our Benefits & Service Guide for your clients for some tips.
How does it work?
The Monthly Checklist works in exactly the same way as the Annual and GST/ BAS Checklists.
• Common monthly data checks included out of the box and ready for use.
• Customise your firm’s standard Monthly Checklist template as needed.
• Customise the Monthly Checklist further for each client as needed.
• Easily spot data issues and get them fixed while the transactions are still fresh in your client’s mind.
• Add comments and notes to collaborate and track progress of individual checks.
• Download a copy of the checklist with the details and comments for your recordkeeping.
Find out more
VUALA, A FAST-GROWING FINTECH STARTUP, HAS ANNOUNCED THE LAUNCH OF ITS INTEGRATION WITH XERO, BRINGING POWERFUL AUTOMATION TO ACCOUNTING PROFESSIONALS AND SMALL BUSINESSES.
The integration allows users to automatically collect invoices from both their email inboxes and over 7,000 online supplier portals — including Amazon Business, Meta Ads, Google, and telecom providers — and send them directly into Xero, fully categorized and attached.
Founded with the goal of eliminating the repetitive and manual work that finance teams face daily, Vuala uses a unique combination of browser automation, email parsing, and smart data extraction to ensure that no invoice is ever lost again. Once connected, Vuala continuously scans email accounts and vendor portals for new invoices, extracts relevant data, and syncs everything to the user’s accounting software in real time.
“This is a huge milestone for us,” said Víctor, CEO and co-founder of Vuala. “We’re obsessed with building tools
that actually save time and reduce friction for accountants, bookkeepers, and business owners. With our Xero integration, users no longer need to manually download invoices or forward them — we do all the heavy lifting.”
The integration is designed to be plug-and-play, with setup taking less than five minutes. Once connected, Vuala matches each invoice to the correct Xero contact, applies the right tax treatment, and uploads it with the PDF attached — ensuring compliance, traceability, and zero manual data entry.
Key benefits of the Vuala–Xero integration include:
• Automatic document collection from inboxes and supplier portals
• Real-time syncing to Xero with full categorization and attachments
• Support for thousands of global vendors out of the box
• Time saved for accounting teams, reducing errors and operational costs
Vuala is already used by hundreds of SMEs, accounting firms, and CFOs across Europe who rely on it to stay on top of their invoice flow.
THE BUSINESS SHOW
MIAMI
Registration Open For SME XPO
2025 - UK’s Foremost Event For The Scale-Up Community
THE UK’S SME XPO IS BACK FOR 2025, A DYNAMIC TWO DAY EVENT DEDICATED TO POWERING SCALEUP BUSINESS SUCCESS. FOCUSED ON SCALE-UP LEADERS AND FOUNDERS, THIS YEAR’S SHOW PROMISES A TRANSFORMATIVE EXPERIENCE FOR ENTREPRENEURS AND INNOVATORS.
Now entering its fourth year, the exhibition brings together a diverse range of businesses, investor community including early stage/ angel investors and VCs,as well as resources to foster growth, innovation, and collaboration. The event is scheduled for June 18-19, re-
turning to ExCeL in London. Registration is now open, offering FREE access. Register for free tickets at: SME XPO 2025 Registration
With over 5000 scale-up founders and owners and more than 100 best-in-class suppliers, SME XPO 2025 provides a unique space for scale-up businesses to showcase their products and services, connect with potential clients and investors as well as alternative finance options, and gain valuable insights from industry leaders in curated workshops and networking sessions.
Agenda Highlights:
ed with insightful ses-
sions, catering to diverse SME interests. With four key themes – Starting Out, Scaling Up, Money Talks and Future Tech & AI, attendees can expect valuable insights and practical strategies in over 50 workshops and talks.
Topics range from ‘The secrets to fast growth.. and the pitfalls’, through to ‘AI’, ‘ransomware’, and ‘Launching into new territories across the world’, featuring real-life experiences from leading entrepreneurs.
SME XPO will feature over 60 esteemed speakers.
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More than 75 Asian and global banks heading to Money20/20 Asia this April
LOOKING TO MEET BANKS? MONEY20/20 ASIA 2025 IS SET TO BRING TOGETHER MORE THAN 75 ASIAN AND GLOBAL BANKS, FROM TRADITIONAL POWERHOUSES TO DISRUPTIVE NEOBANKS, PRIVATE AND INVESTMENT GIANTS, TO BANGKOK THIS MONTH.
The diverse lineup from global and regional banks include names like J.P. Morgan, HSBC, Standard Chartered, KakaoBank, Maybank, Kasikorn Bank, National Australia Bank, Ambank Group and others.
This year's show will also place a core focus on Asia's central banks and regulators underscoring Asia's commitment to fostering collaboration between the public and private sectors.
Key speakers include Mrs. Roong Mallikamas, Deputy Governor of the Bank of Thailand; Mr. Adnan Zaylani, Deputy Governor of Bank Negara Malaysia; Ms. Chuchi Fonacier, Deputy Governor of Bangko Sentral ng Pilipinas; Mr. George Chou, Chief Fintech Officer, Hong Kong Monetary Authority; and Ms. Jomkwan Kongsakul, Deputy Secretary General, Securities and Exchange Commission, Thailand, among others.
"The path to profitability for digital banks is challenging, yet entirely achievable with the right strategy."
"At Kakaobank, we are committed to building a customer-centric, innovation-driven banking platform where we offer loan products, not only Kakaobank's, but
BGL and Smarter SMSF support the SMSF industry in navigating legacy pension
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 HELPING SMSF PROFESSIONALS NAVIGATE THE COMPLEXI-
TIES OF LEGACY PENSION CONVERSIONS AS THE GOVERNMENT INTRODUCES OPPORTUNITIES TO TRANSITION TO MORE FLEXIBLE AND SUSTAINABLE RETIREMENT OPTIONS.
On 7 December 2024, the Government announced new legacy pension conversion rules, including a five-year amnesty for
the commutation of market-linked pensions, lifetime complying pensions and life expectancy pensions. With this change to simplify pension structures, SMSF professionals must carefully manage pension commutations, tax implications and compliance requirements to ensure a smooth transition.
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from over 50 partner companies redefining our customers' everyday financial experiences."
"Our efforts have led us to serve over 80% of South Korea's working population. Money20/20 Asia is the premier fintech event in APAC, bringing together the most influential voices in fintech, payments, and banking to shape the industry's future."
"It provides the perfect stage for Kakaobank to showcase our success, share our vision of going beyond banking with AI technology, and explore the evolving digital banking landscape alongside industry leaders driving financial innovation across Asia." said Daniel Yun, Founder and CEO of KakaoBank Corp.
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Kloud Connect Integrates with NowInfinity by Class to Strengthen Entity Management for Accounting Firms
KLOUD CONNECT, THE CLOUD-BASED PRACTICE MANAGEMENT PLATFORM BUILT FOR MID-TIER AND LARGE ACCOUNTING FIRMS, HAS OFFICIALLY ANNOUNCED ITS INTEGRATION WITH NOWINFINITY, A LEADING CORPORATE COMPLIANCE AND ENTITY MANAGEMENT PLATFORM FROM CLASS.
This integration enables accounting firms to manage corporate entities, ASIC compliance, and documentation more efficiently and accurately, all within the Kloud Connect ecosystem.
Streamlining Entity Management at Scale
With this integration, firms
can now automatically sync Companies from NowInfinity into Kloud Connect. Users can monitor company debt, manage relationships, and directly navigate between both systems—removing the need for duplicated data entry and manual tracking.
Some of the key features available to users as part of this integration include:
• Automatic Entity Sync: Keep Kloud Connect in sync with NowInfinity for Companies.
• Company Debt Visibility: Access up-to-date debt details for each entity within your practice management interface.
• Direct Navigation: Click through from Kloud Connect to relevant NowInfinity records.
• Relationship Management: View and manage relationships with directors, trustees, and shareholders.
• Bulk Officer Address Updates: Automatically generate 484A ASIC draft forms when making bulk changes.
“This integration makes Kloud Connect a central point for firms that deal with complex entity structures,” said Dan Beck, CEO, Kloud Connect.
“It means less time spent chasing data across platforms and more time delivering high-value services to clients.
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June 18th and 19th at ExCel London
MagnifyB Participate in Prestigious GovernmentBacked Intuit Small Business Council
AI-powered business platform recognised for its innovative approach to SME growth and finance access
MAGNIFYB, THE AI-DRIVEN BUSINESS PERFORMANCE PLATFORM FOR SMES, PARTICIPATED IN THE EXCLUSIVE INTUIT SMALL BUSINESS COUNCIL IN CONJUNCTION WITH THE DEPARTMENT FOR BUSINESS AND TRADE.
The Council, which convened on April 2nd, brought together select industry leaders to address critical challenges facing
small businesses across the UK.
This appointment followed MagnifyB's recognition in a major government announcement on SME growth, where CEO Simon Groom was quoted on the platform's innovative approach to unlocking business data to improve productivity, cashflow, and access to finance.
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Xero launches new programme to boost small business financial literacy
'Know Your Numbers' aims to help build confidence through content and mentoring
XERO, THE NZ-FOUNDED GLOBAL SMALL BUSINESS PLATFORM, TODAY LAUNCHED ITS SOCIAL IMPACT INITIATIVE ‘XERO FOR GOOD’ IN AOTEAROA NEW ZEALAND WITH A FREE PROGRAMME CALLED ‘KNOW YOUR NUMBERS’.
The programme is designed to improve the financial literacy of Kiwi small business owners, particularly for those who don’t have the resources and networks to access support.
The ‘Know Your Numbers’ programme aims to empower small businesses with tools and support to help with their long-term success, especially considering the tough economic conditions many small businesses in Aotearoa New
WE’RE EXCITED TO OFFICIALLY EXPAND THE XERO DEVELOPER GROWTH PROGRAM BEYOND ITS SUCCESSFUL PILOT PHASE! WITH OVERWHELMING POSITIVE FEEDBACK AND REAL BUSINESS IMPACT FROM OUR FIRST COHORT, WE’RE EXCITED TO WELCOME OUR FIRST ROUND OF GA APPS, GIVING EVEN MORE APPS THE OPPORTUNITY TO ACCELERATE THEIR GROWTH WITH XERO.
Through increased promotion, dedicated support, and collaborative opportunities, participating apps will gain the tools they need to enhance their visibility, scale their businesses, and unlock new revenue, connections, and subscribers.
Let’s meet the apps taking part in this exciting journey!
FileAI is an advanced document management solution that facilitates secure file sharing and collaboration within organisations. While specific integration details with Xero are limited, FileAI aims to enhance document workflows, ensuring that financial documents and records are managed efficiently and securely, complementing Xero’s accounting capabilities.
ShiftCare
ShiftCare is a user-friendly care management software designed to streamline processes and enhance productivity for care providers. It simplifies planning and organising teams, shifts, and rosters with features like recurring shift bookings, clock-in functionality, and GPS location verification.
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A Strategic Approach for Accountants: Leveraging Flexible, Unsecured Loans to Manage ATO Obligations
IN THE DYNAMIC LANDSCAPE OF AUSTRALIAN TAXATION, ACCOUNTANTS OFTEN NAVIGATE THE INTRICACIES OF CLIENT FINANCIAL OBLIGATIONS TO THE AUSTRALIAN TAXATION OFFICE (ATO). WITH DEADLINES LOOMING AND STATUTORY REQUIREMENTS INTENSIFYING TO UNPRECEDENTED LEVELS, ENSURING CLIENTS HAVE THE NECESSARY LIQUIDITY TO MEET THEIR TAX OBLIGATIONS IS PARAMOUNT.
In this context, a more flexible, unsecured loan can serve as a strategic financial tool, providing clients with the agility needed to manage their tax liabilities effectively while maintaining their cash flow.
Understanding the Need for Flexible Financing
As tax obligations and payment compliance is at its most intense, it is essential to equip clients with financing options that adapt to their specific circumstances. Unsecured loans—where no collateral is required—offer several advantages:
1. Quick Access to Capital: Traditional financing often involves lengthy
approval processes and strict collateral requirements. In contrast, unsecured loans can be processed rapidly, allowing clients to access funds swiftly when facing imminent tax payments.
2. Minimal Impact on Cash Flow: Since these loans don’t require collateral, clients can retain their assets for other operational needs. This flexibility allows businesses to focus on growth initiatives while meeting their tax commitments.
3. Variety of Repayment Options: Many lenders offer customizable repayment plans for unsecured loans. This flexibility enables clients to choose a schedule that aligns with their cash flow and revenue cycles, making it easier to manage repayments comfortably.
Risk Mitigation and Strategic Use
While unsecured loans represent a valuable tool for meeting tax obligations, accountants must also advise clients on prudent usage to mitigate risks:
1. Assessing Financial Health
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Zealand have faced over the past few years.
The programme has been designed in collaboration with Kiwi small business owners to fit in with their busy lives, and comprises two initiatives:
The Know Your Numbers content hub: The expanding library of educational content democratises financial literacy and is designed to fit around business owners’ busy schedules. It has a focus on bite-sized, digestible videos and quick guides that can be viewed in less than five minutes via mobile. The library of content will grow over the coming months to address the needs of small business owners.
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Compliance Deadline Approaches for Accounting Firms
Under Australia’s AML/CTF Tranche 2 Reforms
Regulatory Background
Australia’s Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) Act (introduced in 2006) is expanding under Tranche 2 Reforms, which passed on 29th November 2024. These amendments extend compliance obligations to professional service
providers such as accountants, lawyers, real estate agents, and trust service providers.
• Firms must enrol with AUSTRAC from 31st March 2026
• Compliance is mandatory from 1st July 2026
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GL 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 ITS INTEGRATION WITH TRUSTDEED. COM.AU.
This integration enables seamless SMSF and member data transfer from TrustDeed.com.au to BGL’s SMSF administration software, Simple Fund 360, via the TrustDeed.com.au "Export to BGL" feature. This eliminates manual and duplicate data entry across platforms, saves valuable time, ensures data accuracy and minimises clerical errors.
TrustDeed.com.au provides a comprehensive platform for creating, storing and managing trust deeds and other legal documents for companies, SMSFs, family and other trusts. Mr. Manoj Abichandani (SMSF Technical Director of Trust Deed) stated, "We are thrilled to announce our partnership with BGL and the seamless integration with Simple Fund 360. This new feature brings immense value to our clients by automating the transfer of SMSF and member data, saving valuable time and ensuring accuracy. T
he collaboration with BGL represents a significant step forward in enhancing our service offering and we are excited about the future opportunities this partnership will unlock.
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FileAI
Back in Black: The Return to the Dream of the Suite
Working with dozens of “best of breed” apps hasn’t fulfilled its promise.
IBy David Boyar, GM, ChangeGPS
T WASN’T QUITE A CON, EVERY NEW STYLE OF SOFTWARE BUILDS ON THE SOLUTIONS WE USED TO HAVE, BUT FOR MOST OF US, THE REALITY OF SO MANY DIFFERENT TYPES OF SCREENS, DIFFERENT CONTRACTS AND DIFFERENT SUPPORT SYSTEMS HAS FALLEN SHORT OF THE PROMISE OF FULL AUTOMATION.
Now, this may not be the sentiment you’d expect from someone who rode the ecosystem wave when ChangeGPS became one of the first Practice Apps in the App Store and ended up winning the practice app of the year award, but we’d be negligent to see AI and think we’re just going to do the exact same thing with this incredible new piece of kit.
So, if we are to look over the horizon and think about a dream state for running a firm, I think, we should not just be nostalgic about our past, but use its successes to shape our new future.
I think we need to return to the dream of the cloud suite.
Because I think AI can get us there.
We’re already seeing a shift towards this. Once small document management providers are expanding their features to include suite staples. Humble corporate compliance software can now lodge some tax returns through adjacent products and even do AI-enabled bookkeeping for complex documents.
For me, this is tremendously exciting.
The Problem: Too Many Apps x an AI Multiplier
If we already have too many apps in too many data silos, how will more AI apps make connecting data easier? More APIs? APIs put all your data in the hands of a benevolent tech company controlling the flow of your data. What if they become less benevolent?
The reality is that Accountants are drowning in software that doesn’t talk to each other. Every extra integration is another potential meltdown and complexity. APIs that were supposed to solve this? They work—until
they don’t. And now, AI is entering the mix, raising the stakes even higher.
Because AI is at its best when it has a lot of data. It needs the data in one place to give you specific answers and insights. It needs it so it can understand the context of your workflow and what you want to do next. The more data you keep out of your AI, the worse it will perform.
The AI Opportunity: Stop Creating More Data Silos
Double Entry, Paper, Desktop Suite, Cloud, AI.
Ai is just the next platform-level innovation for accountants to adjust to. If you are a partner in a firm, you have likely already led your team through a tech change once using some cloudbased apps as a minimum.
But AI isn’t magic—it needs good data. And if your firm’s data is locked up in disconnected systems, AI won’t save you—it’ll just add another standalone app to the mess.
More importantly, the subject matter expert isn't made less important because of AI. You still need to know what to ask. You still need to know what a wrong answer is.
Firms sit on gigabytes, terabytes of really, really critical data. How do we get all that data in one place to power AI so it actually makes work easier, instead of harder?
The dream of the suite has to be the answer.
That’s where The Access Group’s new Compliance and Evo AI platform offers a new idea for the future.
Instead of slapping AI onto fragmented systems like a band-aid, Evo actually pulls everything together, making AI useful in a firm’s day-to-day workflow.
And what’s that workflow? Well to start, it’s tax return data live in your practice management system, which Access Accountants Compliance has now. It’s still on the cloud but instead of connecting systems like the plumbing of a house, the data is treated as the foun-
dation that the comfy rooms are built on.
And it’s technical knowledge right on the page. The Access EVO ATO skill puts tax law and ATO interpretations on the screen!
The Suite, Reimagined: Access Accountants Compliance
Nostalgia aside, the return to the suite isn’t just about convenience. It’s about solving real-world headaches. I’ve been impressed with the new Access Accountants Compliance, a fully integrated, cloud-based practice management and ledger system.
And I’m excited that the product owner used to be the ChangeGPS product owner which gives it that extra level of understanding of what accountants do (and maybe a hint at where I see a suite of the future wink wink nudge nudge).
Access has actually come up with a cloud-based integrated suite. It's a great opportunity, especially for smaller firms who just need that all-in-one solution. And the best part? There’s no variable cost. It just has a cost. You don’t get penalised for putting more clients through it.
AI as a Strategy, Not Just a Buzzword
When macro trends change, businesses revisit their strategies. I think a firm is responsible for considering a strategy rather than just trialling a dozen different APIs and AI apps.
Access is taking a platform-first approach with Evo, embedding AI across its suite of products instead of bolting it on like an afterthought.
That means firms get AI where they actually need it – rather than in yet another app they’ll forget to use.
For example, ChangeGPS is rolling out an AI-powered Copilot inside its tax planning and compliance tools.
It lets accountants query ATO and Fair Work data without leaving their workflow! No more opening five tabs just to answer one question.
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Accounting in 2025: Meeting Client Expectations with Real-Time Financial Insights
Manual accounting is holding SMBs back. The future belongs to accountants who automate and provide strategic, real-time financial insights.
By Henrik Grim, Co-founder & CEO, Mimo
WE’RE HARDLY THE FIRST TO TALK ABOUT HOW SMALL BUSINESSES—OFTEN CONSIDERED THE BACKBONE OF THE ECONOMY—ARE FREQUENTLY TREATED AS AN AFTERTHOUGHT.
Historically underfunded and underserved, these businesses not only struggle with access to capital but also face an even greater challenge: a lack of understanding of their financial health.
The outdated, manual nature of managing business finances means founders are often operating in the dark, making critical decisions without supporting data.
This isn’t just an inconvenience, it’s a major risk to their survival. When cash flow problems arise, when payments are delayed and when expenses spiral out of control, small businesses are the ones who suffer. And while technology has transformed nearly every other aspect of running a business, accounting and finance have remained largely stuck in the past.
Accountants who consider themselves at the helm of the industry are now in a pivotal position. They not only have the power—but also the responsibility—to change this. By embracing automation, providing real-time insights and stepping into a more strategic role, accountants can become the solution to one of the biggest problems facing small businesses today.
The New Reality: Clients Expect Instant Financial Data
Small and mid-sized businesses (SMBs) need access to real-time financial information to make informed decisions. Yet, many accountants still operate in a world where data is weeks, or even months, out of date. This lag forces business owners to rely on gut instinct rather than data-driven strategies.
In a recent survey of SMB founders in our Mimo customer base, we asked what they wish their accountant would do more of:
• 83% said they want more automation of financial admin like invoicing and reconciliation.
• 67% want advice on growing their business financially or more up-to-date insights on cash flow.
So while we see many SMBs turning to Mimo to solve these pain points, what surprises us is how often they do so without their accountants.
This shift highlights a growing disconnect: many business owners recognise the importance of automation, but their accountants have been slow to adopt and offer the technology needed to provide it.
The Cost of
Doing Nothing: Stuck in Low-Value Work
Without automation, accountants remain bogged down by time-consuming
tasks like chasing invoices, manually reconciling transactions and preparing outdated reports. Many firms avoid offering bookkeeping due to its lower profitability, instead focusing on tax and year-end accounts. But with Making Tax Digital (MTD) driving the digitisation of compliance work, how sustainable is that approach in the long run?
A director at a large accounting firm recently noted that they have seen an influx of clients moving away from accountants who resist change.
They emphasised that many firms hesitate to adopt bookkeeping as a service due to lower margins compared to year-end accounts or audits. But as regulatory changes push the industry forward, firms that fail to adapt may struggle to survive.
For too long, bookkeeping has been seen as a low-margin service and many firms have resisted investing in technology due to shortterm profitability concerns. But the reality is clear—firms that fail to evolve will lose business to those that embrace automation.
The Future: Trusted Advisor or Reconciliation Robot?
Accounting firms that thrive in this new landscape will be those that see themselves not just as number crunchers, but as strategic advisors.
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GoCardless bolsters partnership team with two senior appointments
BANK PAYMENT COMPANY GOCARDLESS HAS STRENGTHENED ITS PARTNERSHIP TEAM WITH TWO STRATEGIC HIRES, ACCELERATING ITS PATH TO PROFITABILITY THROUGH ITS INDIRECT GO-TO-MARKET CHANNEL.
The fintech welcomes Yasmin Sharp as VP, Business Development, Partnerships. Sharp brings 20+ years of experience in the payments and software space, building her career in business development and account management at organisations including SagePay and Paypoint. She transitioned into partnerships during her time at WorldPay and has since held leadership positions at SAP CX and most recently Dojo.
In her new role at GoCardless, Sharp is responsible for leading small business partnerships globally, with a focus on enhancing the partner experience and driving value for customers through
innovation. In line with GoCardless’ ambition to grow outside of its UK home market, it has also appointed Milo Cilloni as Director of International Partnerships. Based in the Paris office, Cilloni will lead the international partnerships go-to-market strategy, with an initial focus on France and Spain.
Before joining GoCardless, Cilloni held a number of key positions in the technology industry, including at PrestaShop and Visa, where he gained valuable experience in managing strategic international partnerships.
Paul Stoddart, President at GoCardless, said: “Partnerships have been a key part of GoCardless since day one, and they’ll remain at the heart of what we do -- especially as businesses look for easy ways to manage all of their operations in one place.
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GoCardless appoints Shaun Puckrin as Chief Product Officer
GOCARDLESS, THE BANK PAYMENT COMPANY, TODAY
ANNOUNCES THE APPOINTMENT OF SHAUN PUCKRIN AS CHIEF PRODUCT OFFICER.
Puckrin joins from Checkout.com where he was SVP Product. In his new role at GoCardless he will lead the fintech’s product teams with responsibility for the product development and innovation agenda, including new payment flows, open banking capabilities and continuous product improvements to help merchants collect and send payments from GoCardless’ bank payment platform.
Puckrin brings a wealth of experience in product leadership, with a proven track record of driving innovation and growth in the payments and financial technology sectors. Prior to joining GoCardless, Puckrin served as SVP Product at Checkout.com, leading a team of product managers and overseeing its core payment products including card acquiring, issuing and authentication. During his tenure, he launched new product lines and performance optimization solutions using machine learning and led product expansion across Japan, US, Canada and MENA.
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PayPal Announces Retirement of Rodney C. Adkins from Board of Directors
PAYPAL HOLDINGS, INC. (NASDAQ: PYPL) ANNOUNCED TODAY THAT RODNEY C. ADKINS HAS INFORMED THE COMPANY OF HIS DECISION TO RETIRE FROM ITS BOARD OF DIRECTORS (BOARD) AND NOT STAND FOR RE-ELECTION AT THE 2025 ANNUAL MEETING OF STOCKHOLDERS IN JUNE.
Adkins has been a director of PayPal since September 2017 and currently serves on the Audit, Risk and Compliance Committee and the Corporate Governance and Nominating Committee of the Board.
"For more than seven years, Rod has played an instrumen-
tal role on our Board of Directors and has helped guide the growth and transformation of PayPal," said Enrique Lores, Chair of PayPal's Board of Directors. "We will greatly miss Rod's impactful contributions. His sharp business acumen, strategic vision, and genuine authenticity have played a crucial role in shaping PayPal into the company it is today."
"On behalf of our PayPal team, I want to extend my heartfelt thanks to Rod for his exceptional leadership, his unwavering care, and his passionate support of our company," said Alex Chriss, President and CEO, PayPal.
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Sharesight product updates –April 2025
LAST MONTH I ALLUDED TO SEVERAL INITIATIVES TAKING UP MOST OF OUR FOCUS. ONE OF THESE IS RELATED TO OUR CASH ACCOUNT FEATURE SET.
Previously you were only able to sync buy and sell transactions to a single nominated cash account, which is fairly restrictive for anyone with more than one broker.
Since late March, you can
now assign a broker to their respective cash account in your portfolio and have all trading generate an accurate debit or credit in the correct account. To configure this feature, make sure you have at least one manual cash account set up in your portfolio and then visit the cash account tab under portfolio settings. This is just the first in a number of cash enhancements to be rolled out in the coming months.
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PayPal Expands Cryptocurrency Offerings with New Tokens: Chainlink and Solana Now Available
PAYPAL HOLDINGS, INC. (NASDAQ: PYPL) TODAY ANNOUNCED TWO ADDITIONAL CRYPTOCURRENCIES - CHAINLINK (LINK) AND SOLANA (SOL) - ARE NOW AVAILABLE FOR PAYPAL AND VENMO USERS TO BUY, HOLD, SELL, AND TRANSFER DIRECTLY IN THEIR RESPECTIVE ACCOUNTS.
“Since we initially made cryp-
tocurrencies available on PayPal and Venmo, we’ve been listening to our users about what they want to do with crypto on our platforms. One piece of feedback we’ve heard is to make additional tokens available that align with our mission of revolutionizing payments,” said May Zabaneh, Vice President of Product, Blockchain, Crypto, and Digital Currencies, PayPal.
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SPOTTED ON SOCIAL
PayPal’s Xoom Partners With Tenpay Global To Offer Cross-Border Remittances to Weixin
New collaboration enables convenient and secure remittances to Weixin Pay users in China
STARTING TODAY, WEIXIN PAY USERS CAN NOW RECEIVE CROSS-BORDER TRANSFERS FROM XOOM, A PAYPAL SERVICE AND A PIONEER IN DIGITAL REMITTANCES. THIS NEW PARTNERSHIP BETWEEN TENPAY GLOBAL, TENCENT'S CROSS-BORDER PAYMENT PLATFORM, AND XOOM ALLOWS WEIXIN PAY USERS TO RECEIVE MONEY DIRECTLY INTO THEIR WEIXIN PAY WALLET BALANCE OR BANK ACCOUNTS LINKED TO WEIXIN PAY THROUGH XOOM OR PAYPAL'S MOBILE APP AND WEBSITE.
Xoom and PayPal users in the United States, Canada, and Europe can now access reliable and affordable cross-border money trans-
fers to their own or family members' Weixin Pay accounts, with additional countries to come in the future. Weixin Pay users can receive the funds frictionlessly, typically in as fast as a few minutes, for flexible use within the Weixin app for transfers, top-ups and shopping.
"Xoom has long been known as a fast, easy, inexpensive way to send money to friends and family across borders – and now, being able to send funds to Weixin Pay users from the US, Canada and Europe, we're continuing to connect users wherever they might be and for what they might need funds for," said Paul Bances, Vice President of Market Development for Xoom.
