Procurement News Notice |
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| PNN | 8172 |
| Work Detail | Xero (@Xero) today highlighted accelerating momentum in the financial web, giving small businesses more accurate insights into their business, and providing seamless access to financial services. Built on top of Xero’s industry-leading open APIs and two-way authentication with global banks and financial services, the financial web digitally connects the services businesses use their accounting system of record, transforming the software from a reconciliation and data entry point, to a fully functioning small business platform. With new payment providers, lending options, and improved bank feed connectivity, the continued expansion of the financial web helps small businesses make smarter decisions, improve cash flow, get paid faster and access capital quickly. Accountants and bookkeepers can use the financial web to expose new services and insights for their clients, and ensure the integrity of the data they’re using. Financial web announcements at Xerocon South, Australasia’s largest accounting technology conference, include: First lending partner in New Zealand: Fuelled is Xero’s first lending partner in New Zealand and will help small businesses access the capital they need to grow. From Xero’s platform, Fuelled enables New Zealand small businesses to get on with business without worrying about the timing of income and expenditure, by offering funding to small businesses that are secured against unpaid invoices. Financial web takes hold in farming with Xero and Figured New Zealand: In the last 12 months, more than 10 million budget transactions were entered through Xero and Figured, a cloud-based production tracking, farm budgeting and forecasting tool that works hand-in-hand with Xero. The financial web is taking hold in banked industries like farming, which are supported by substantial lending secured on farm assets. Secured, trusted payments with BPAY in Australia: Xero, DEFT (a Macquarie Bank product), and Tyro are collaborating on industry-first, in-product integrations for BPAY, Australia’s most-used bill payment service. Initially launching with DEFT to bill customers, and Tyro to pay suppliers, Xero’s platform will over time allow small businesses to choose from a range of providers to receive and send payment through BPAY’s trusted, secured payment service. Daily, direct bank feeds for more small businesses: Xero will soon have daily, direct feeds for some 100 financial institutions in Australia including 43 regional and industry credit unions to ensure small businesses in regional areas can get access to the same features and capabilities. With daily bank feeds and the best coverage among the big four Australian banks, small business can make real decisions quickly, with the right information at hand, instead of waiting until the end of the month to reconcile transactions. In a recent survey of Xero partners, 71 per cent said automatic bank reconciliation is their favourite feature on the platform. Direct feeds from Xero and Commonwealth Bank: Both companies have seen significant interest from small businesses and advisors since launching a world-first integration between the Bank and accounting platform. Xero and Commonwealth Bank are expanding their relationship to include direct feeds for business and corporate credit cards, making it easier for businesses to track discretionary spending and reconcile transactions as they come in. Singapore small businesses boosted by integration between Xero and UOB: Setting the standard in Singapore, small business customers who bank with UOB can integrate their bank accounts with Xero and choose to have their bank transactions sent automatically from UOB to Xero every day, allowing them to check which customers have paid their bills overnight, and which bills from suppliers they need to pay. These announcements were made at Xerocon South, Australasia’s largest accounting technology conference, bringing together more than 2000 accountants, bookkeepers, financial professionals and exhibitors from Australia, New Zealand and Asia and where Commonwealth Bank, PayPal, and Amazon Web Services are sponsors. |
| Country | Australia , Australia and New Zealand |
| Industry | Financial Services |
| Entry Date | 15 Oct 2016 |
| Source | http://www.voxy.co.nz/business/5/262295 |
