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Saturday 21st September 2024 | No. 89
XU Biweekly
The independent user news source for accounting apps and their ecosystems
Xero to acquire Syft to enhance reporting and insights capability
X
ERO KNOW HOW IMPORTANT IT IS FOR SMALL BUSINESSES TO HAVE ACCESS TO POWERFUL INSIGHTS TO HELP THEM RUN THEIR BUSINESS BETTER, NO MATTER THE ECONOMIC ENVIRONMENT THEY’RE FACING. To accelerate our mission to provide powerful insights, we are thrilled to share that Xero is acquiring Syft, a leading global cloud-based reporting, insights and analytics platform for small
businesses, accountants and bookkeepers.
Today, Syft is available through the Xero App Store as an app partner. And we know that many Xero customers know and love Syft for its beautiful custom reporting and visualisation features. Syft is the most used reporting and insights app in the Xero App Store and has been awarded several accolades this year, picking up Xero Awards across multiple countries.
Following the acquisition, we plan that Syft will continue to be available as a standalone offering to small businesses and their accountants and bookkeepers – no matter who their accounting software provider is.
How does this benefit Xero customers in the future? We’ve always been focused on reimagining how accounting software can
empower small businesses, as well as their accounting and bookkeeping partners, by providing insights to help them to run their business better. Syft supercharges our ability to serve customers in this way. There is strong alignment between Xero and Syft, and we couldn’t be more excited to work together to accelerate our joint goals. Current customers love Syft for its custom reporting, visualisations, benchmarking,
live analysis views with drill down, ability to consolidate across financial data sources, budgeting and forecasting, reporting automation and data quality assurance.
Syft also provides insights by aggregating data from other software that small businesses and accountants and bookkeepers use – whether that’s accounting software, Excel, or partners such as Stripe, Square, Shopify and Gusto. These are all things we be-
lieve will bring greater value to the Xero experience and support small businesses and their advisors to have a deeper understanding of their business to make informed decisions. We’ll also work to embed Syft’s functionality within Xero over time, to provide powerful visualisations, analytics and reporting capabilities for new and existing customers.
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GoCardless closes deal to acquire Nuapay Roveel Partners with Compleat Software to Enhance Financial Management
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ANK PAYMENT COMPANY GOCARDLESS HAS COMPLETED THE ACQUISITION OF SENTENIAL LTD, OPERATING UNDER THE NUAPAY BRAND, FROM EML PAYMENTS LIMITED (ASX: EML).
be the first product priority for GoCardless, allowing the fintech to unlock new vertical sectors and use cases in areas including payroll, financial services, utilities, insurance, gaming and gambling.
The deal, which was announced in March, will significantly scale GoCardless’ indirect channel proposition and fast-track the rollout of new capabilities that will enable customers to send as well as collect money through GoCardless. Introducing these capabilities will
Paul Stoddart, President at GoCardless, said: “Nuapay adds breadth and depth to our offering, positioning GoCardless as a full-service bank payment provider." "The ability to both send and collect money via our
platform, plus products that help merchants improve payment success and reduce fraud, will make GoCardless more competitive in our existing markets and help us enter new ones. This will ultimately accelerate the delivery of our strategy.”
Brian Hanrahan, CEO of Nuapay, said: “We’re excited to join GoCardless, a company with an amazing track record and great growth prospects."
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R
OVEEL THE REPORTING SOFTWARE COMPANY BASED IN NORWICH (UK) ANNOUNCED A NEW PARTNERSHIP WITH COMPLEAT SOFTWARE, A PIONEER IN PURCHASETO-PAY AND ACCOUNTS PAYABLE AUTOMATION. This collaboration aims to deliver comprehensive financial management solutions to businesses using Sage and Xero accounting platforms. The partnership combines Roveel’s powerful
reporting and dashboard tools with Compleat’s advanced purchasing and AP automation features, including their innovative Amazon Business Punch-In integration. This collaboration will provide users with enhanced visibility into financial data and streamlined procurement processes. "We are thrilled about this partnership with Roveel, as it represents a significant step
Saturday 21st September 2024
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forward for both our companies and, more importantly, our customers. " "Our unique offerings is an opportunity for our users to enhance their financial and accounting processes like never before. Compleat and Roveel customers will now have access to a broader range of tools that can streamline their operations and drive greater efficiency across their teams."
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