Accounting Firms MYOB, Xero Eye Invoice Finance Solutions

PYMNTS

Accounting software providers MYOB and Xero are exploring invoice finance solutions while retaliation ensues in the background regarding products that charge fees to small businesses in exchange for faster access to unpaid accounts.

Medius And Pagero Team On Digital Invoice Management

PYMNTS

Expense management technology provider Medius and international eDocument service company Pagero have collaborated to help companies handle digital invoices. Medius has long provided companies with technologies related to the accounts payable (AP) workflow.

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Xero, Waddle Tag Team For Invoice Finance

PYMNTS

Today, the company is announcing a new initiative to further that mission, and it includes a partnership with SME accounting firm Xero. On Monday (April 18), Waddle revealed a joint venture with cloud-based SME accounting company Xero to launch an invoice financing product. The new lending type will use data automatically aggregated from accounting information within the Xero platform.

How Accountants' AR Builds A Better Client Experience

PYMNTS

Manual accounts receivable (AR) processes are a headache for any administrative professional. Today, many accountants continue to rely on outdated processes to create lackluster invoices for their customers.

Xero Partners With Square For Faster B2B Payments

PYMNTS

Cloud accounting firm Xero and payments services company Square are collaborating to offer small businesses a tool for faster invoicing and payments, according to reports on Tuesday (Feb. Customers can then pay invoices immediately with a credit or debit card.

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In B2B, Embedded Payments Make For Attractive Acquisitions

PYMNTS

To that end, earlier this week, private-equity firm Lightyear Capital said it established ProfitSolv to acquire integrated solutions for billing, payments and software services. There is also growing demand for better accounts receivable (AR) management, he added.

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ACH Shows Signs Of B2B Payments Dominance

PYMNTS

New analysis from corporate payments firm Bill.com suggests ACH payments are dominating the accounts payable department. 13), Bill.com said in its report, “ The Rise of Modern Business Payments ,” that accounting professionals now point to ACH payments as the dominant way they pay their corporate bills, with 73 percent noting that they use ACH payments and online banking to pay their clients’ invoices.

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RecVue, Effectus Group Partner To Boost Order To Cash Operations

PYMNTS

RecVue, which works in order-to-cash automation, has entered into a partnership with Effectus Group, a consulting firm working with technical accounting practices, to help companies access the best order-for-cash services and get money from B2B payments flowing more smoothly.

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SMBs’ Late Payments Pain Spreads Across Borders

PYMNTS

But delayed and late invoice payments are far from an isolated problem. trillion in accounts receivable on any given day, though how much of that is considered past-due is unclear. One in five invoices paid late are sent to the wrong address , according to the Australian Taxation Office (ATO). 43 percent of unpaid invoices are stuck with micro-enterprises in Romania , new research from KeysFin revealed. In the fight against late B2B payments, the U.K.

Private Sector Not Immune To Late Payments Struggle

PYMNTS

In Scotland, analysis turns the spotlight on the construction industry, while new research from accounting company Xero points to the struggle that small businesses face when getting paid late. The latest analysis from cloud accounting firm Xero found that $80.86 billion worth of invoices remain outstanding every year for Australian small businesses. Xero’s report found 53 percent of all trade credit invoices are paid an average of 23 days past due.

FSB: No Govt Contracts For Big UK Firms That Pay Late

PYMNTS

Amid the latest news, the Federation of Small Businesses (FSB) said larger firms that pay their suppliers late should be stripped of government contracts. The firms themselves owed tens of billions of pounds. Against that backdrop, the FSB said that some sort of sanctions against the larger firms should be put into place, including the aforementioned ban from government business. The FSB noted that 84 percent of its member firms said they have been paid late regularly.

Xero Introduces Machine Learning Into Accounting Platform

PYMNTS

SME accounting firm Xero is integrating machine learning technology into its solution, the company announced this week. Reports Tuesday (March 14) said Xero is deploying a machine learning automation system that will help businesses’ specific needs, including automated invoice categorization. According to the company, the technology will learn over time how to categorize those invoices so accountants and small business owners will no longer have to do so manually.

PayPal’s Late SME Payments Fight Down Under

PYMNTS

McDonnell also cited one particularly troubling case in which a small business owner had been waiting 742 days — more than two years — to see invoices settled from one client. ” McDonnell told ZDNet that, while that case is an extreme one, late payments trouble many SMEs in Australia, which is why PayPal chose to work with small business accounting firm Xero. Late payments to small businesses from their corporate buyers are an issue the world over.

Australia’s Late Payments Fight Shows The Limits Of Government Intervention

PYMNTS

Recent research from Australian small business accounting firm Xero and payments company American Express explored just how big of a stressor late invoice payments are on Australian companies. Analysts found that more than a third of outstanding invoices at businesses with between $1.5 Hence, having their invoices paid in a timely manner is critical.”. Regulators can play a role in enforcing [timely invoice payments] to a certain extent,” noted Debernardi.

Sage Debuts Bot To Kill The Spreadsheet

PYMNTS

Manual data entry into spreadsheets is an outdated process for small business accounting and financial management, yet remains commonplace. SME accounting firm Sage looks to reduce the use of spreadsheets, but on Tuesday (July 26), the firm took its battle against the legacy tool a step further. Their bot, named Pegg, will automatically manage SME expenses and invoices, track payments and conduct other accounting tasks.

Sensibill Rolls Out New Tool For Automatic Receipt Extraction

PYMNTS

The service can be used by businesses like enterprise accounting firms to reduce cost, the release stated. Financial services companies, such as accounting software or personal finance management providers, can use the SKU-level data to personalize their services. Metro Bank's plan was to augment the service with bookkeeping, VAT and invoicing capabilities, integrated into the app and able to work with cloud accounting service providers.

GoCardless Brings Direct Debit Supplier Payments To Australia

PYMNTS

The company is collaborating with small business accounting firm Xero to integrate its B2B payments capabilities into the platform. In a statement, Xero Australia Financial Industry Director Ian Boyd said the service will enhance B2B payments services for smaller firms. ” He added that the goal of the integration is to lessen the time it takes for businesses to chase down payments for outstanding invoices, and to accelerate cash flow for customers.

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FLEETCOR Buys AP Platform Provider Roger

PYMNTS

Business payments firm FLEETCOR Technologies has acquired accounts payable (AP) platform provider Roger , Fleetcor announced in a press release. B2B Payments accounts payable acquisitions B2B FleetCor News Roger SMBs What's Hot In B2B

Autobooks Enables SMB Payments Via Accounting Portal

PYMNTS

To help small- to medium-sized businesses (SMBs) receive payment online, SMB payment and accounting platform Autobooks unveiled the rollout of a new initiative, according to a press release. SMBs using Xero can email invoices with the built-in Square payment functionality.

ImagineTime, Mango Billing Partner On Digital Accounting

PYMNTS

Practice management software provider ImagineTime , which works with accounting firms, has partnered with Mango Billing for a "next-generation practice management solution," according to a press release.

Breaking Down the FP&A Function of the CFO Suite

BlueLight

The CEO outsources accounting to a third-party accounting firm and may conduct simple FP&A. The Controller is responsible for accounting and financial reporting. The outsourced accounting firm typically comes with a controller and CFO to do light financial modeling.

Today In B2B: Revolut Debuts New Business Feature; MonetaGo Targets Trade Finance Fraud

PYMNTS

Plus, Pioneer Bank sues over MyPayrollHR scandal, Procurement Partners secures new funding, and ImagineTime partners on FinTech for accountants. ImagineTime, Mango Billing Partner On Digital Accounting.

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Lightyear Forms ProfitSolv To Acquire Billing, Payments Solutions

PYMNTS

Lightyear Capital , the New York-based private equity firm working in the fields of financial services, has established ProfitSolv to acquire integrated solutions for billing, payments and software services, a press release says.

Best Practices from the CFO Suite

BlueLight

My motivation was to understand the responsibility of the CFO suite, the process of billing to accounting, and the software tools available to run an effective finance office. One is accounting: you need this done properly to inform the next two. Accounting ?—?Nearly

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KPMG, PwC, EY To Put $9B Toward AI, Data Tech

PYMNTS

The largest accounting firms – EY, Deloitte, KPMG and PwC – are investing billions of dollars in artificial intelligence (AI) and data technology products to change the industry in new ways, according to a report by Bloomberg Tax.

Xero Overhauls Payments For Faster Transactions

PYMNTS

New Zealand’s cloud-based accounting firm Xero is overhauling payments to integrate with TransferWise , Stripe and GoCardless , Xero said in a press release Wednesday (Nov. to set up card and debit payments for customer invoices and bills. The company announced the new relationships at Xerocon London 2019 with 3,000-plus accountants, bookkeepers and partners in attendance. GoCardless allows for Direct Debit payments and installment payments for invoices.

What are Some Business Fraud Examples?

CFO Share

As a forensic accountant , I am often called into a “failing” business only to discover an employee is stealing all the profits! And most of the time the fraudster is the accountant or bookkeeper whom you trusted to implement internal controls!

Nonprofit Accounting Basics for Founders, Board Members & Executives

The Charity CFO

If you’re like most nonprofit leaders, you’re not researching nonprofit accounting basics to satisfy your curiosity. with this overview of nonprofit accounting basics. . What is nonprofit accounting? Don't hire the wrong accountant for your nonprofit! Accounts receivable.

Entryless Integrates With Sage Live To Help SMBs

PYMNTS

Entryless, a cloud-based financial network that allows small and medium-sized businesses to react more quickly to the needs of their buyers and suppliers, announced an integration with accountancy platform Sage Live. This integration will improve companies’ ability to pay bills and complete accounts seamlessly. They can then be audited and synchronized with accounting platform Sage Live, helping businesses to keep better track of their financial comings and goings.

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CreDec Adds Real-Time Payments To Xero

PYMNTS

Payment service provider CreDec is integrating real-time payments capabilities that will allow small and medium-sized businesses (SMBs) and their accountants to bypass bank portals and initiate payments from directly within their accounting platforms. FinTech has launched its Virtual Account service, connecting SMBs and accountancy firms to real-time payments functionality in their accounting portals.

Accounting Startup Tipalti Raises $76M In Series D Led By Zeev Ventures

PYMNTS

San Mateo accounts payable automation startup Tipalti won $76 million in a funding round led by Zeev Ventures. The FinTech accounting firm will use the series D funds to grow the platform and its artificial intelligence (AI) tools that can read, process, pay and track invoices. . “It’s Venture capital firm 01 Advisors was co-founded earlier this year by Twitter’s former c-suite executives CEO Dick Costolo and COO Adam Bain. The startup targets mid-market firms.

Advice for Startups from your Financial Partner

BlueLight

In these conversations, I observed each finance leader had a different perspective and approach with their financial accounting partner. I caught up with Sandeep Shroff, Co-Founder and CEO of myStartUpCFO , an accounting firm that provides on-demand full-stack CFO services for startups.

Xero Cuts Losses For FY18, Thanks To Amazon Web Services

PYMNTS

According to data released on Thursday (May 10) by small business accounting firm Xero , the company has reduced its losses for Fiscal Year (FY) 2018 compared with last year. During this FY, Xero noted that revenues from its core accounting product increased 37 percent, while revenues from other platform offerings nearly doubled. users of Outlook able to use Payments in Outlook and Microsoft Pay to pay invoices sent via Xero.

Waddle Lands $38 Million In Debt Funding

PYMNTS

28), Waddle secured about $38 million in debt funding from an investment management firm, though the firm’s three founders declined to name the investor. Last year, Waddle announced a partnership with Xero , the region’s largest small business cloud accounting firm. Their joint venture saw Waddle providing an invoice financing service to SMBs on the Xero platform.

Xero, GoCardless Enable Recurring Payment Collection For US SMBs

PYMNTS

Small business cloud accounting firm Xero is strengthening its partnership with U.K.-based The firms announced their expanded collaboration via press release Tuesday (Oct. 22), with their tie-up allowing small businesses to automatically accept recurring payments from their customers and then mark those invoices as “paid” within Xero. Those authorized collections are then integrated into the Xero platform for streamlined accounting and reconciliation.