Saturday 8th April 2023 | No. 52
XU Biweekly
The independent user news source for accounting apps and their ecosystems
CAPE INTEGRATES WITH reaches XERO TO LAUNCH ONE CLICK Tide 500,000 UK AUTOMATED ACCOUNTING members milestone
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EADING THE PACK IN THE AUSTRALIAN EXPENSE MANAGEMENT AND CORPORATE CARDS SECTOR, TWO YEAR OLD STARTUP CAPE HAS OFFICIALLY INTEGRATED WITH XERO TO ENABLE A DIRECT BANK FEED TO STREAMLINE FINANCIAL REPORTING, RECONCILIATION AND MANAGEMENT IN AN ENTIRELY DIGITAL AND SECURE MANNER. Gone are the days when accountants, financial leaders and business owners need to jump through several complex hoops and clunky applications to transpose bank data and manually update it. Now, it takes Cape customers a matter of minutes to connect their Xero account and create a steady and stable bank feed that can be synced with just one click thereafter. No wonder this was the #1 most requested customer feature for Cape. Customers can benefit from a considerably faster month-end close process by rec-
onciling data instantaneously to Xero from Cape, where they also see a holistic view of their company and employee expenses, cash inflows and outflows, and balance sheets - all in one place. This gives Cape’s wide range of customers the ability to track finances efficiently and improve accounting, expense management, growth and profitability. “From card issuance providers, accounting systems, reimbursement software, receipt capturing apps, Enterprise Resource Planning (ERP) tools, we’ve found finance teams and accountants are having to deal with archaic, disconnected systems that create a complex web to untangle when it comes to reviewing financial information in a timely manner to identify overspending, wasteful purchases and to accurately close their books at the end of the month. Given so many of our customers work with Xero, we’re incredibly proud to be making their lives easier by seamlessly managing
and automating the flow of data between our two companies in real time. Our integration with Xero is just one of the hundreds of micro automations we are implementing to save our customers time and money on our mission to build ‘Complete Expense Nirvana’. Which is why our enthusiastic team of engineers went to great lengths in testing and iterating this integration alongside our early adopters prior to the public launch to ensure it delivered a best-in-class financial automation solution to finally eradicate end of month reconciliation induced stress.” Ryan Edwards-Pritchard, CEO & Founder. "As a financial services organisation, we undergo a rigorous review process for any financial tools we use and recommend to our customers. We’ve added Cape to our toolkit because it is one of the most innovative FinTechs in the APAC region. It is creating an...
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Karbon Becomes a Xero Certified App The integration between Karbon and Xero Practice Manager will launch in April, 2023
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ARBON, THE GLOBAL LEADER IN ACCOUNTING PRACTICE MANAGEMENT SOFTWAREUSED BY OVER 3,000 ACCOUNTING FIRMS, TODAY ANNOUNCED THAT IT HAS BECOME A XERO CERTIFIED APP. THEANNOUNCEMENT COMES AHEAD OF AN INTEGRATION BETWEEN KARBON AND XERO PRACTICE MANAGER, WHICH WILL BERELEASED IN APRIL. Managing Director APAC at Karbon, Jared Baker, lauded the news as a big win for Xero and Karbon’s jointcustomers. "At Karbon,
Saturday 8th April 2023 ISSN 2054-7234
we are committed to an open ecosystem,” said Baker. “We believe that accountingfirms should be able to select the right technology for their needs, and that whatever they choose shouldintegrate with the rest of their tech stack.” “Xero is a platform and company that we have a lot of admiration for. In many ways, Xero has transformedthe accounting industry and helped support and amplify the growth of many great firms. We are delightedto be bringing together our top-rated accounting practice management solution with one of the world’spre-eminent accounting solutions.”
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The much-anticipated integration between Xero Practice Manager and Karbon will automaticallysynchronise contact data between both systems. Joint Xero and Karbon customers will be able to maintainaccuracy across their new and existing client and contact records, without the need for manual updates. “The Karbon product engineering team is working tirelessly to deliver an incredibly exciting roadmap forour customers. With product updates released every few weeks, our rate of development is unmatched...
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S THE LEADING DIGITAL BUSINESS FINANCIAL PLATFORM, TIDE HAS REACHED 500,000 MEMBERS IN THE UK. IT’S A SIGNIFICANT MILESTONE THAT MEANS ALMOST ONE IN 10 SMALL BUSINESSES NOW USE OUR SERVICES.
Following our launch in 2017, Tide is now a key provider of finance and admin services to UK small and medium enterprises (SMEs) and is continuing to grow. In the last 12 months, we’ve has expanded our product range, adding Tide Pro Plan, a new subscription plan that includes unlimited payments and transfers aimed at businesses that plan to scale. We’ve also launched Tide Accounting to offer an end-to-end accounting and tax solution for small businesses, in partnership with accounting software firm Sage. The addition of payment acceptance, expense cards, invoice tracking and cash flow management has bolstered Tide solutions to help SMEs. Tide recently acquired Funding Options, a leader in SME credit intermediation. Over time, our members will gain access to Funding Options’ panel of more than 120 lender partners, creating a major new marketplace for SME credit in the UK. “Half a million members is a real testament to the quality of our products and services. I am delighted to welcome them all to Tide. Our mission to help SMEs save time and money is proving to be a success with more and more small businesses choosing to open their accounts with Tide. From Net Zero to supporting more female business owners, we plan to roll out more products and services this year to help SMEs launch and run their businesses.” - Oliver Prill, Tide CEO This year, we’re also working on Net Zero features to help members kick...
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