XU Biweekly - Issue 72 - 27th January 2024

Saturday 27th January 2024 | No. 72

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The independent user news source for accounting apps and their ecosystems

WE'RE OFFICIALLY ELMO Software announces 1 YEAR IN BUSINESS Joseph Lyons as new CEO

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HIS MONTH WE'RE OFFICIALLY TICKING OVER 12 MONTHS IN BUSINESS, WITH JOURNEY SUPPORTING CLIENTS ALL OVER THE WORLD ON THEIR SALES AND MARKETING STRATEGY.

key activities.

Thanks to everyone we've worked with, I appreciate all of our clients present and past who helped make the business what it is today.

This time last year, I was sitting at the dinning table getting ready to start work on our first 2 x clients Annature & XBert, no team, shitty website, plenty of ambition.

Thanks to all our team who have worked with us over the past year on a regular or project basis. Fortunate to have worked with and met so many great humans in the UK, Asia and Australia.

Fast forward 12 months later and we've worked with 37 different vendors across Australia, New Zealand, UK, ZA, North America and Asia.

Huge thanks to Liss Mclaren & Jordan Vickery who have helped steer the ship and keep us on track for our goals through the year.

We've helped generate 1000s of leads, help scale revenue growth and set company wide records on

Looking forward to a bigger and better 2024.

Read more

E

LMO SOFTWARE, THE AUSTRALIAN-HEADQUARTERED HR TECHNOLOGY PLATFORM, TODAY ANNOUNCES THAT JOSEPH LYONS HAS BEEN APPOINTED AS CHIEF EXECUTIVE OFFICER.

Lyons joins ELMO on 22 January 2024 from global small business platform Xero (ASX:XRO) where he was most recently Managing Director, APAC, responsible for driving growth in the company’s most established markets of Australia and New Zealand as well as newer markets across Asia.

Prior to Xero, Lyons was Chief Commercial Officer at ASX-listed REA Group where he led teams across the sales, partner, customer,

product, marketing, technology and communications functions.

At ELMO, Lyons will be responsible for accelerating the next stage of the company’s growth across its ELMO Software business in Australia, New Zealand and the UK, as well as Breathe HR in the UK. Lyons assumes the role from ELMO Software’s President Nord Samuelson who has been acting as interim CEO since July 2023 while a global recruitment search was underway.

for in a new CEO: an exceptional track record of scaling tech companies in Australia, New Zealand, and across the globe, and deep experience in building high-performing customer-centric teams.

look forward to building on the company’s 21-year heritage and strong foundations to shape the next chapter of success, both in Australia and New Zealand, and the UK.

“Joseph has demonstrated these attributes at the highest level and is an exceptional cultural fit for the ELMO Group of companies and for our valued customers.

“While ELMO has grown rapidly over the past three years with a strong focus on direct and partner channels, there is still a huge opportunity to provide high-impact HR software solutions to mid-sized organisations that meet their increasingly complex needs.

“We are delighted to have Joseph on board to serve our customers and partners, and look forward to working with him to release the full potential of ELMO.”

Chairman of ELMO Software Bruce Gordon said:

Joseph Lyons comments:

“There were two main attributes we were looking

“I am excited to join the talented team at ELMO and

target industries and geographies.

SMEs that presently power their automated workflows with bluesheets. As with the adoption of most emerging technologies, businesses who embrace such AI technologies will get a headstart in seizing the intrinsic value that these advancements can bring, putting them ahead of the AI-led data transformation curve.

“I have been particularly impressed by the focus across the ELMO team to support the needs of customers and partners alike."

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Singapore-based AI Automation Company, bluesheets, Secures Series A Funding of US$6.5M, driving AI Innovation in Process Automation

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LUESHEETS, A SINGAPORE-BASED AI AUTOMATION SOFTWARE COMPANY, HAS RAISED US$6.5M IN A SERIES A FUNDING ROUND.

The investment, led by Illuminate Financial will be instrumental in advancing bluesheets' proprietary AI capabilities, propelling them in helping more clients digitize and automate their processes to stay competitive in the era of AI. The round also saw the

return of key investors from previous cycles including Insignia Ventures Partners, Antler Elevate and 1982 Ventures.

bluesheets is using millions of financial data points to train AI models for process automation across industries. The Series A funding will enable the company to further enhance its AI capabilities, accelerating growth in key markets such as APAC and the US. The company will capitalize on this investment by further

penetrating target industries including financial services,insurance, supply chain and procurement, manufacturing, and more, while reinforcing its commitment to serving existing industries in accounting, finance, and hospitality.

The infusion of fresh capital will also support strategic hires at the management level, bringing in talent from established tech companies.

These key additions will drive bluesheets' expansion into enterprise clients within

The company recognizes the challenges that businesses still face today with the processing of unstructured data in multiple formats, languages, currencies, and from both digital and physical sources. bluesheets is set to diversify its product range to cater to the growing and diversifying demand for AI-based data processing, adding to the existing list of major financial institutions and 100+

"bluesheets is on a mission to redefine the landscape of data processing and process automation. Our Series A funding, led by Illuminate Fi-

Saturday 27th January 2024

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nancial, marks a pivotal moment for us as we accelerate the development of our AI product range," said Christian Schneider, CEO and Co-founder of bluesheets.

"This investment not only strengthens our position as a leader in the AI automation space but also underscores our commitment to providing innovative solutions that empower businesses across different sectors and geographies."

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Updates

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Saturday 27th January 2024

Plooto Launches Enhanced All-In-One Payment January release notes: Recurly Winter 2023/2024: Automation Solution for Scaling Businesses Gain control over your Product launch summary fraud strategy and W integrate Airwallex T with your tech stack HE NEW OFFERING ENABLES COMPANIES WITH COMPLEX PAYMENT WORKFLOWS TO IMPLEMENT CUSTOMIZABLE SAFEGUARDS, RIGOROUS SECURITY CONTROLS, AND TWO-WAY SYNC WITH ORACLE NETSUITE.

Plooto, a leading payment automation solution for small-to-midsized businesses (SMBs), has launched a payment orchestration offering that is custom-designed to support the complex workflows and security requirements of rapidly scaling businesses.

As the size and operational complexity of businesses increase, the risk of fraud and human error grows.

This leads businesses to implement more rigorous security and control policies to keep the management of cash flow secure and reliable, placing additional burdens on finance teams including time, effort, and resources spent upgrading or building inhouse solutions.

XU BIWEEKLY - No. 72 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 CEO: David Hassall Managing Editor: Wesley Cornell Chief Revenue Officer: Alex Newson Account & Partnership Assistant: Robyn Consterdine Creative Assistant: Aidan McGrath Advertising: advertising@xumagazine.com www.xumagazine.com ‘Xero’ is a trademark of Xero Limited (New Zealand). XU Biweekly and XU Magazine is collaboratively produced by an independent group of Xero users and is not affiliated in any way with Xero. All other trademarks are the property of their respective owners. © XU Magazine Ltd 2014-2024.

All rights reserved. No part of this publication may be used or reproduced without the written permission of the publisher.

XU Biweekly is published by XU Magazine Ltd (08811842), registered in England and Wales. Registered office: Office 1, Brunswick House, Brunswick Way, Liverpool, L3 4BN, United Kingdom. All information contained in this publication is for information only and is, as far as we are aware, correct at the time of going to press. XU Magazine Ltd cannot accept any responsibility for errors or inaccuracies in such information.

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.

Similar challenges extend to accounting and bookkeeping firms, as their robust compliance processes and corresponding reputation are critical drivers of growth.

Firms' ability to retain and expand client accounts hinges not only on strong relationships but also on their adherence to rigorous compliance standards, especially when it comes to financial data protection.

G

AIN BETTER VISIBILITY AND CONTROL OVER YOUR FRAUD STRATEGY WITH AIRWALLEX’S NEW RISK WEB APP

HILE THE WEATHER OUTSIDE HAS BEEN BALMY (FOR MOST OF US), WE HUNKERED DOWN AND READIED THE 2023/2024 WINTER PRODUCT LAUNCH INCLUDING A REVAMP OF OUR RECURLY PRODUCT DOCS SITE TO MAKE IT EASIER TO FIND WHAT YOU NEED WHEN YOU NEED IT.

New Braze integration unlocks the power of personalization

This offering is priced at a competitive rate as organizations often cite cost as a barrier to adoption of cash management solutions.

As volume and complexity of operations increase, businesses can trust Plooto to scale their needs seamlessly without straining their resources.

With Airwallex’s new Risk Web App, you can proactively detect and block fraudulent transactions by gaining real-time insights into fraud performance, applying 3D Secure (3DS) to select transactions, and customising settings to match your risk tolerance.

Use the Risk Web App dashboard to view your key risk metrics, including payment success rate, fraud rate, disputes, and more.

Analyse historical risk data to track patterns over time, and compare your fraud and dispute rates against similar businesses to benchmark your performance.

We're thrilled to announce the new integration between Recurly and Braze. Braze is an industry-leading customer engagement platform that automates personalized cross-channel communications to enhance engagement, drive retention, and improve the user experience. The integration combines real-time subscription data from Recurly with Braze’s customer engagement platform, allowing you to craft and deliver real-time, hyper-personalized messages across communication channels.

Find out more

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With this launch, Plooto brings to market the first solution in Canada to address these unique cash management challenges faced by midsize enterprises.

Oncord Pricing Changes Introducing the Next Wave Product Update January 2024

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NEW ONCORD LITE PLAN WILL BE MADE AVAILABLE FROM MARCH 1ST 2024, ALONGSIDE CHANGES TO ONCORD PRICING. We're increasing plan limits, eliminating overage fees, and making it easier to manage costs hosting e-mail with Oncord.

Introducing our "Lite" plans Starting from $5 per month. Ideal for small community groups, sports clubs, non-profits and sole traders that have basic requirements. Here are the details: • $5 per month for Website • 3G storage, 5G bandwidth • No access to source code (agencies have access) • Community support only via our new forum • $5 per month for Marketing • 1,000 email sends per month • Filters restricted to Groups only • $5 per month for Commerce • Limited to 15 products

of Power-Ups in AccountKit

2

023 WAS A HUGE YEAR FOR ACCOUNTKIT, WE RELEASED 100’S OF NEW FEATURES, TWEAKS AND IMPROVEMENTS, AND 2024 IS SHAPING UP TO BE EVEN BIGGER! I've always been driven by the need to find practical, efficient solutions for the challenges we face in our own practice and, by virtue of this, our profession.

Today, I'm excited to introduce some of the latest Paid Power-Ups coming out of beta, that we've developed at AccountKit, designed to streamline your accounting processes and enhance your productivity.

Power-Up #1: Knowledge Centre Your New Operations Centre

Starting at $2000 per month, our Enterprise plans feature an uptime SLA, priority support, SAML login for external apps and more advanced features.

In our profession, standardised systems and processes are the key to consistency and efficiency. That's why we've developed the Knowledge Centre. Gone are the days of outdated Word documents and cumbersome processes buried deep within your server. The Knowledge Centre is a dynamic, easily accessible hub for all your systems, processes, and policies. You can embed videos, screenshots and tables to quickly communicate the key points whilst creating custom tooltips to draw users' attention to the important elements.

Keep reading

Keep reading

Introducing our "Enterprise" plans

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ELLO 2024! WE’RE BACK WITH ANOTHER EDITION OF THE EMPLOYMENT HERO PRODUCT UPDATE, WHERE WE SHARE ALL OF THE LATEST AND GREATEST UPDATES FROM THE PREVIOUS MONTH.

2023 was a big year for us at Employment Hero, but we’re here to tell you that 2024 is going to be even bigger. With that being said, let’s get straight to it – there’s lots to cover.

We’ve added more flexibility to Custom Reports: We know you love our Custom Reports feature, which is why we’ve been making it more useful for your business operations, starting with a fresh makeover.

We’ve also added new filters and the ability to sort by certification completion and expiry date, work eligibility passport and visa expiry date, and job history start and end date. Plus, you can

also arrange your chosen fields however you see fit.

It’s just one more way that you can make Employment Hero features unique and more relevant to your business.

And lastly, we’ve added more data fields via Report type: Assets & Safety Incidents, more filtering capabilities: Exclude Archived Certifications, Personnel, Age, Contract Type, Employment Status, Employment Type and Gender.

You can now connect to multiple SEEK accounts If you’re looking to hire in 2024, we’ve just made it a whole lot easier.

We know that spending time ensuring that all job postings are the same across platforms, as well as flicking between platforms can be a tedious task. That’s why we’re excited to announce that you can connect to multiple SEEK accounts at once in the Recruitment module.

Keep reading

Updates & News Appoints The Xero Me app is Get ready for a breakthrough in AccountKit Matthew Taylor to replacing the Xero accounting technology with Dual Customer Experience Expenses app Manager Role Mapping in General Ledger W W A 4 XU Biweekly | No. 72

E’RE THRILLED TO HAVE LAUNCHED THE FIRST ELEMENT OF OUR LATEST POWERFUL ELEMENT WITHIN MYWORKPAPERS GENERAL LEDGER FEATURE – THE REVOLUTIONARY DUAL CHART OF ACCOUNTS (COA).

In our latest update, the Chart of Accounts has been added to the edit accounting structure page, allowing users to view the chart of accounts being used as well as edit the chart of accounts, therefore, updating the description within the trial balance.

With the full launch of dual mapping just around the corner, we can’t wait to demonstrate how this cutting cutting-edge update will allow seamless importation from your bookkeeping system or other sources – allowing MyWorkpapers to perfectly align

Saturday 27th January 2024

with the Accounts Production software in your practice.

MyWorkpapers General Ledger will then be capable of maintaining this dual COA mapping, offering unmatched transparency and ease in managing adjustments.

What’s more, our system will smartly isolate transactions relevant to your client’s financial period, ensuring that your data remains exclusively yours.

If your client opts for a different bookkeeping system in the future, then MyWorkpapers can serve as a secure historical record with a full backup of all your essential data.

Find out more

CCOUNTKIT, RENOWNED FOR ITS INNOVATIVE SUITE OF TOOLS DESIGNED TO AUTOMATE COMPLIANCE AND OPERATIONAL TASKS FOR ACCOUNTANTS AND BOOKKEEPERS, IS EXCITED TO ANNOUNCE THE APPOINTMENT OF MATTHEW TAYLOR AS THE NEW CUSTOMER EXPERIENCE MANAGER.

Matt’s previous role as Customer Success Manager at MYOB, coupled with his foundational experience in accounting firms, has equipped him with a profound understanding of the challenges and opportunities within the accounting sector, making him a valuable addition to the AccountKit team.

Paul Murray, founder of AccountKit, expressed his enthusiasm for Matt's appointment, "We are thrilled to have Matt join us at AccountKit. His impressive background at MYOB and his in-depth experience as an accountant align perfectly with our core mission of empowering accounting professionals. Matt's expertise will be instrumental in advancing our suite of tools and enhancing our client experience when they’re using AccountKit."

E’RE RETIRING THE XERO EXPENSES APP ON 6 FEBRUARY, AND YOU’LL NO LONGER BE ABLE TO USE IT AFTER THIS TIME. THIS CHANGE ONLY AFFECTS THE MOBILE APP; THERE ARE NO CHANGES TO THE XERO EXPENSES WEB EXPERIENCE.

Switch to the Xero Me app now and pick up where you left off When you switch from the Xero Expenses app to the Xero Me app, all your expense claims and information will be there, so you can pick up where you left off.

You can do everything in Xero Me that you could in the Xero Expenses app, plus Xero Me has some new time-saving features, including the ability to: • duplicate existing expense claims • easily add recently selected locations to mileage tracking In addition, if you use or get paid via Xero Payroll, you’ll be able to use Xero Me to access payslips, leave, and timesheets. You or your employees can self-serve your own work admin tasks on the go, all in one place.

Find out more

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E ARE JUST WAITING ON A FEW TEST FIXES. BUT NEXT WEEK YOU WILL FIND UNLINKED ACCOUNTS AND TRANSACTION NEW IN CALXA.

you simply push the new business unit into the accounting system. However, if it doesn’t, delete it or put it to one side.

New in Calxa: Unlinked Accounts are Ready to Go

Introducing Recurly's W redesigned Product Documentation site

Introducing Unlinked Accounts and Unlinked Business Units

What is an unlinked account? It’s one that doesn’t exist in your accounting system.

D

ID YOU KNOW THAT ONLY 25% OF PEOPLE TAKE THE TIME TO READ SOFTWARE MANUALS? WE SET OUT TO UPEND THAT STATISTIC BY MAKING OURS SO COMPELLING YOU CAN’T TURN AWAY!

necessary information quickly so you can spend more time leveraging Recurly’s powerful features for your business.

Recurly is thrilled to announce the launch of our newly revamped Product Documentation site. We understand the importance of having clear, comprehensive, and user-friendly resources to maximize your experience with our platform, and the redesign makes giant strides in that direction. Here’s a look at what’s new and improved.

Navigating our documentation is smoother than ever, thanks to standardized page layouts and content structures. The uniformity means that whether you're a first-time visitor or a long-term user, you'll navigate through the information seamlessly, finding what you need without hassle.

A new homepage so you can find it fast The new homepage is crafted for ease of use, offering a streamlined directory to guide you to the information you need quickly. The effortless navigation ensures you find the

Standardized pages where uniformity meets ease

Fresh content because more insights mean more power

And why would you want one of those? To budget for something new or planned.

Maybe you’ve only thought of it when creating the budget. For example, you’re budgeting for new staff and decide to hire a graduate. That may require additional expense lines for training or other courses that you don’t currently have in your system. By adding them into Calxa, you can complete your budget. Then, if you do hire the graduate, push the new accounts through to Xero, MYOB or QuickBooks. If the new plans don’t happen, you haven’t cluttered your accounting system with unnecessary line items.

To enrich your experience with Recurly, we've added new pages and expanded existing ones (over 300!).

Unlinked Business Units work in the same way. Use them for projects that you are evaluating. That way you can build a budget and see what effect it has on your overall bottom line and your cashflow.

Keep reading

In the case where the project goes ahead,

Alternatively, if you’ve separately added the new business unit in your accounting system, there’s an option to merge the linked account with that.

We’re confident that you will find many uses for these unlinked accounts and unlinked business units. They will add to the flexibility of your budgeting in ways yet to be imagined.

Transaction Reports are on Their Way We have now switched the majority of our customers to transaction-based synchronisation with the accounting system.

The rest is to be rolled out over the next few weeks. That gives us the data to provide you with the first of the transaction reports you have been asking for.

First up in early February will be Transaction Detail reports. Here is an example on how you can use this new report: • Filter by account, by business unit and a range of months to get a listing of all the transactions that match.

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6 XU Biweekly | No. 72

Novo Named To 2024 Fintech Innovation 50 For Small Business Financial Platform

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OVO, THE POWERFULLY SIMPLE® FINANCIAL SOLUTIONS PLATFORM FOR SMALL BUSINESSES WAS NAMED TO THE 2024 FINTECH INNOVATION 50, AN ANNUAL LIST LAUNCHED BY GGV CAPITAL U.S. IN PARTNERSHIP WITH CRUNCHBASE, TO RECOGNIZE THE MOST PROMISING FINTECH COMPANIES IN THE EYES OF STARTUP INVESTORS.

Evening Standard SME XPO GGV Capital U.S. partnered with 44 in2024: The UK’S Leading Event vestment firms to nominate and vote on 150 companies in order to select the 50 honoDedicated To Helping SME And rees. Having raised more than $12 billion colthe Fintech Innovation 50 demonScale-up Businesses To Thrive lectively, strates the enthusiasm of venture capital

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HE EVENING STANDARD IS THRILLED TO UNVEIL THE SME XPO 2024, A VIBRANT AND ALL-ENCOMPASSING PLATFORM, A DYNAMIC AND COMPREHENSIVE SPACE DEDICATED TO POWERING SCALEUP BUSINESSES. Now entering its third year, the event is scheduled for April 23-24, returning to ExCeL in London. The exhibition brings together a diverse range of businesses, experts, and resources to foster growth, innovation, and collaboration. Registration for the event is now Live, and SME XPO 2024 is FREE to register.

SME XPO 2024 provides a unique space for scale-up businesses to showcase their products and services, connect with potential clients, and gain valuable insights from industry leaders, offering a plethora of opportunities for networking. With over 5000 SME founders and owners and more than 100 best-in-class suppliers all coming together across this event. SME XPO has a wide range of sponsors, exhibitors and partners that will be showcasing their services and products at the SME XPO 2024.

Find out more

investors in the growth and innovation of this sector. In celebration, honorees will ring the Opening Bell at the Nasdaq MarketSite today.

“Despite many banks and fintech companies claiming that they’re focused on small businesses, the truth is that virtually all of their ‘small business’ solutions are geared toward the less than 10% of U.S. businesses that make more than $1 million in revenue annually,” said Michael Rangel, founder and CEO of Novo.

“Since launching Novo in 2018, our team has always been focused on building the best possible financial platform for these forgotten small business owners.

"Understanding that the checking account is at the center of a small business’s finances, Novo has created a robust platform around the checking account that helps small businesses automate back-office tasks like invoicing and accounting, understand how much money is coming in without having to jump between multiple applications, apply for working capital quickly, and much more.”

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G-Accon’s 2023 in Review: Financial Data Management Redefined

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S THE 2024 CANVAS OPENS, IT’S THE PERFECT TIME TO REFLECT ON WHAT A REMARKABLE CHAPTER 2023 HAS BEEN. LAST YEAR, OUR SERVICES WITNESSED A PATH-BREAKING JOURNEY FUELED BY CONTINUOUS DEVELOPMENT AND FILLED WITH MANY ACCOMPLISHMENTS. CELEBRATE WITH US AND LEARN HOW WE’VE RESHAPED THE CLOUD-BASED FINANCIAL DATA MANAGEMENT INDUSTRY OVER THE PAST 12 MONTHS Throughout the last year, we continued working to bring to life our vision of simplifying financial and accounting automation in Google Sheets. In this sense, G-Accon’s steady growth and joint success wouldn’t have been possible without you. Your feedback and engagement have also served as a cornerstone in steering our products’ course.

This article overviews the most significant accolades, annual stats, and popular product releases and spotlights our users’ satisfaction. From prominent awards to expand-

Saturday 27th January 2024

Salestrekker surpasses half a million eSigned envelopes with Annature ahead of 2.0 launch

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ALESTREKKER, A LEADING CRM AND LOAN ORIGINATION PLATFORM USED BY THOUSANDS OF MORTGAGE AND FINANCE BROKERS, TODAY ANNOUNCED A SIGNIFICANT MILESTONE IN ITS EXCLUSIVE PARTNERSHIP WITH AUSTRALIAN ESIGNING INNOVATOR ANNATURE. Since adopting Annature’s eSigning technology in February 2022, Salestrekker’s network of nearly 10,000 brokers have sent over half a million ‘envelopes’ to clients for secure and efficient digital signing. This represents 100% growth in the number of completed envelopes compared to Salestrekker’s previous eSigning solution.

As the first broker CRM to effectively digitise the loan process end-to-end, Salestrekker highlighted Annature’s eSignature solution as vital to its overall success. According to Salestrekker CEO and founder Dalibor Ivkovic, the number of platform users has grown 10% in the past 12 months, with particularly strong uptake of eSigning through the platform.

“By removing time-consuming manual processes, Annature’s solution closely aligns with our point-of-difference as a 100% percent digital platform,” Ivkovic said. “Annature is ISO 27001-certified and utilises blockchain technology to keep data stored within the platform, which we consider to be major advantages.

“Our brokers report that digital signing is far more efficient and intuitive than printing and scanning documents, and the security of Annature’s solution gives them and their

clients peace of mind,” he added. Ivkovic also praised Annature’s competitive pricing structure, which facilitated a significant cost saving compared to non-Australian signature companies.

“We’re proud to see the rapid impact of our eSigning solution for brokers using Salestrekker,” said Annature founder and CEO Corey Cacic. “Sending over half a million envelopes in under two years is an incredible achievement, and a clear sign our technology is trusted by finance professionals. We look forward to continuing our partnership and reaching even more brokers in 2024.”

Salestrekker and Annature reached this milestone ahead of the launch of Salestrekker 2.0 in January 2024. The refreshed and modernised platform promises lightning-fast responsiveness on any device, with supercharged automation, exceptional task functionality and all-new tools for commercial brokers (in addition to existing home loan and asset finance tools). In this new iteration, Annature remains Salestrekker’s exclusive eSigning partner.

“We’re excited for our brokers to discover everything Salestrekker 2.0 has to offer,” Ivkovic added. “We estimate brokers spend an average of 15 working hours to process each loan, and our target for Salestrekker is to dramatically reduce that processing time to five hours. With Annature’s eSigning solution already saving our users thousands of hours, we’re confident in meeting this ambitious goal through our continued partnership.”

Keep reading

ing our user base and product offerings, let’s jump into these highlights about the G-Accon community.

Industry Recognition of Leading Financial Reporting Practices Based on G2’s rating system, contrasted data, and customer reviews, G-Accon was ranked #1 in several categories across several Financial Reporting categories for G2 winter’s reports, including Best Estimated ROI, Best Results Mid-Market, Fastest Implementation, and Most Implementable Mid-Market for Winter 2024. Our solution was awarded an impressive 25 badges in total.

The results speak for themselves. G2’s stats revealed a champion Mid-Market Implementation score. Compared to the category’s average of 2 months and a half, implementing G-Accon’s solutions takes our users less than seven days. Find out more about G-Accon’s winning features like this one.

Find out more

Top 20 ASX trades by Sharesight users – January 2024 W ELCOME TO THE JANUARY 2024 EDITION OF SHARESIGHT’S MONTHLY ASX TRADING SNAPSHOT, WHERE WE LOOK AT THE TOP 20 TRADES SHARESIGHT USERS MADE ON THE ASX DURING THE MONTH.

by Woodside Energy (ASX: WDS), which recently announced its commitment to supply gas to Australia’s east coast.

Pilbara Minerals (ASX: PLS) •

In this snapshot, trades were strongly led by Vanguard’s Australian Shares Index ETF (ASX: VAS). In terms of individual stocks, trades were led by Pilbara Minerals (ASX: PLS), which remains the most-shorted stock on the ASX. Trades were followed

•

Pilbara share price drops despite news of expanded offtake agreement with Ganfeng Lithium Pilbara remains the most-shorted ASX stock

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Lorem ipsum Increase accuracy by up to 99%.

No contract, plus fair and reasonable monthly pricing.

Integrates seamlessly with Xero and others.

Automate everything: create rules for even more time saving.

Get all features from day #1 at no extra cost—including unlimited companies* & users.

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8 XU Biweekly | No. 72

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10 XU Biweekly | No. 72

Features

Saturday 27th January 2024

This is the next-generation in tax and accounting research

By Sarah Ingram, Product Manager, Wolters Kluwer

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OLTERS KLUWER LAUNCH CCH IKNOWCONNECT

How do customers influence and shape Wolters Kluwer solutions?

Xero User Magazine sat down with Sarah Ingram from Wolters Kluwer to learn more about CCH iKnowConnect.

Customers play a pivotal role in shaping Wolters Kluwer solutions and customer feedback is a key component of our development process. Through a continuous and rigorous customer feedback process, customers provide us with insights into their needs and wants which are invaluable in driving product development forward.

Tell us about yourself and your role at Wolters Kluwer?

My role is defined by a clear mission to optimise the user experience when using Wolters Kluwer research solutions. I do this by providing efficient access to accurate and up-to-date information. My goal for the customer is straightforward yet impactful - minimise search time and maximise productivity. This approach is driven by a deep understanding of the challenges faced by professionals in the field.

This includes the product development of our new CCH iKnowConnect platform, a powerful and intuitive research platform designed to meet the needs of tax, accounting, bookkeeper, and legal professionals across Australia, New Zealand, and Southeast Asia.

Through surveys, user forums, and direct interactions, Wolters Kluwer actively seeks input from our customer base. This feedback loop enables us to understand pain points, identify emerging trends, and pinpoint areas for improvement.

Myself and my team at Wolters Kluwer carefully analyse this feedback to inform product enhancements and new feature development.

In addition to gathering feedback, Wolters Kluwer actively involves its customers in the testing of prototypes. This collaborative process allows for a hands-

on evaluation of potential solutions, ensuring that they align seamlessly with the practical requirements of Tax, Accounting, Bookkeeper, and Legal professionals in the field.

This iterative approach ensures that solutions are not only technologically advanced but also directly address the practical needs of our customer community.

In essence, the customers act as co-creators, influencing the direction and evolution of Wolters Kluwer products and solutions. Their experiences and insights serve as the compass guiding the company towards delivering tools that truly resonate with professionals.

What is contextual inquiry?

Contextual inquiry is a crucial component of Wolters Kluwer user-centered design approach. This qualitative research method involves observing and engaging with users in their natural work environments, providing invaluable insights into their behaviours and needs. By employing contextual inquiry, the prod-

uct innovation team gains a deep understanding of a user’s research workflow.

This method allows us to identify pain points, uncover workflow intricacies, and ultimately refine our research product to better serve the user.

What are the biggest pain points you hear from accountants and bookkeepers and how do you tackle these challenges?

Navigating the intricacies of tax, accounting and bookkeeping matters often proves to be a time-consuming endeavor for users.

While Google Search offers a straightforward approach with its intuitive interface and rapid results, professionals recognise that there are instances when precision becomes paramount.

In scenarios where accuracy is non-negotiable and the stakes are high, specialised platforms like CCH iKnowConnect step in to fill the void.

CCH iKnowConnect seamlessly combines the simplicity of a Google-like search experience with the assurance that every piece of information has under-

gone rigorous scrutiny and verification. This platform serves as a bridge between convenience and certainty, affording professionals the optimal blend of user-friendly accessibility and trustworthy, accurate knowledge in their pursuit of excellence. Staying abreast of the ceaselessly shifting terrain of tax laws and regulations presents a formidable hurdle. The consequences of non-compliance are weighty, underscoring the critical importance of staying informed and upto-date. This is where CCH iKnowConnect steps in as an invaluable ally. By offering real-time updates and comprehensive resources, it ensures that professionals are equipped with the latest information, reducing the risk of non-compliance and providing peace of mind in an ever-evolving regulatory environment. Additionally, you can have these crucial news and announcements conveniently delivered to your inbox, further streamlining your access to vital updates.

A significant challenge faced by junior professionals in the field is knowing how to initiate a research task and identifying the

right keywords. To bridge this gap, CCH iKnowConnect has Topic Pages. These pages serve as a launchpad, providing a structured approach to understanding a given topic. By highlighting key legislation, seminal cases, and offering direct links to expert commentary and practical tools junior professionals can embark on their research journeys with confidence and clarity. This feature not only streamlines the process but also nurtures a deeper comprehension of complex matters, fostering growth and proficiency within the profession.

What are your vourite features CCH iKnowConnect why?

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The 360-degree view of legislation in CCH iKnowConnect is the platform’s most outstanding feature. This innovative function provides users with a complete perspective. It allows those who prefer to commence their research via legislation to directly access commentary, cases, and specific details related to that section of an Act.

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12 XU Biweekly | No. 72

Features

Parlez-vous français?

How to beat the tax season crunch

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By Brian Carolan, Product Owner, AutoEntry by Sage

T COMES AROUND EVERY YEAR, JUST LIKE THE HOLIDAY SEASON. BUT FOR ACCOUNTANTS AND THEIR CLIENTS, IT’S FAR FROM A SEASON OF JOY. OF COURSE, WE’RE TALKING ABOUT TAX SEASON, THAT TIME WHEN EVERY CLIENT SUDDENLY WANTS YOUR ATTENTION. You promise yourself that this time will be different.

You’ll be ready. But it comes around before you know it and it’s still a scramble.

GET INVOLVED WITH BEYOND BLUE AND SUPPORT MENTAL HEALTH

By Tim Hoopmann, Speaker and Trainer

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EYOND BLUE IS AN INDEPENDENT, NOTFOR-PROFIT ORGANISATION, WORKING TO ADDRESS ISSUES ASSOCIATED WITH DEPRESSION AND ANXIETY IN AUSTRALIA. ITS KEY AIMS ARE RAISING AWARENESS ABOUT DEPRESSION AND ANXIETY, REDUCING ASSOCIATED STIGMA, AND ENCOURAGING PEOPLE TO SEEK HELP EARLY. Beyond Blue couldn’t do what we do without the help and support of the community. There are so many ways you can get involved to help all people in Australia to achieve their best possible mental health.

Make a donation!

Your donation will help Beyond Blue to: Reduce the impact of depression, anxiety and suicide by supporting people to protect their mental health

and to recover when they are unwell.

Reduce people’s experiences of stigma and discrimination.

Improve people’s opportunities to get effective support and services at the right time.

Book a speaker!

I have been a speaker for over 5 years, and it is very rewarding. I wanted to share my story to increase the community’s understanding about mental health so that we can start a conversation about it.

You can request a free community speaker to share their story in your workplace, school, or community group to raise awareness and reduce stigma.

The sharing of personal stories of anxiety and depression is a powerful way to

raise awareness, reduce stigma and to encourage help seeking behaviour.

Volunteer at an event!

You can represent Beyond Blue at events such as conferences, expos, community festivals and sporting events near you! The event volunteers help ensure they have a useful and positive presence at these events.

Partner with Beyond Blue!

Learn how your business can support the work of Beyond Blue through their partnership or business supporter programs.

Join their online community!

As a forum user you can read, share, and learn from people who understand what you’re going through.

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Saturday 27th January 2024

With resources and recruitment opportunities seemingly scarcer than ever, how can you be prepared without running yourself or your team into the ground?

The technology is out there to automate so much of the process, but it can be overwhelming knowing which apps and software to choose. Wouldn’t it be great if you could get the software you need for each crunch point, all in one place?

It so happens that Sage has a suite of apps that provide everything you need for this. You might find it surprising but all of them are platform-agnostic, and integrate perfectly with Xero.

Let’s assume you’re one month away from tax deadline. What’s required to create an ultra-quick Best Practice plan that you can carry forward with you and apply to clients—especially those that are new to your practice?

Starting the journey Start by considering the journey your client will travel with you.

For those who arrive on your doorstep a few days or weeks before the deadline,

with bags of paperwork in hand, the first task is to sign them up.

Although time is of the essence, this is your opportunity to ease their nerves and take charge of what could be a longstanding working relationship that grows as the client’s business expands.

Assert yourself as the expert and communicate the value your services will bring—not just now, but all year round with GoProposal by Sage’s menu-based pricing. The average time it takes GoProposal to generate a proposal, right in front of the client is just 10 minutes.

When you sign up for GoProposal’s whole suite of onboarding products, you can take your client seamlessly from sign up, to generating a fully compliant, bespoke engagement letter crafted by compliance specialists, then complete ID verification, Know Your Customer (KYC) checks and Risk Assessments with expert guided prompts with GoProposal AML.

Getting the data Once you’ve wowed prospects with a world class onboarding experience in record time, now is the time to continue to impress them with your efficiencies in processing all that crucial compliance data necessary for their tax return.

This can involve getting data from 1000s of items of paperwork. AutoEntry by Sage comes to the rescue.

Simply point your mobile phone at the document and take a snapshot. Once you categorise the data and click to publish through your ac-

counting software, the job is done.

Or you can scan and email documents from a desktop computer.

AutoEntry can speed up data entry processes by up to 90% so that days turn into hours. It also has up to 99% accuracy, meaning the client is much less likely to face penalties from the tax authorities if any aspect of their financial records is incorrect.

The entire process of using AutoEntry is so simple that clients can do it themselves.

If they can take a selfie then they can use AutoEntry!

Snapping paperwork when they receive it is a much better procedure across the year, and also means that they needn’t worry about losing things like receipts.

Once it’s in AutoEntry, not only is the data extracted automatically but the photo taken of the document is retained, too.

Forecasting the future You’ve gone above and beyond to facilitate this new client, while your tech stack has ensured it hasn’t eaten into your time with other clients.

But how do you educate your clients to ensure this last-minute crunch doesn’t happen next year?

With Futrli by Sage, you can forecast and project likely tax liabilities for up to three years in the future.

Plus, the client is setup perfectly for ongoing advisory so that next year, it’s less about the compliance grind, and more about being the client’s perfect business partner.

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FinTech News

14 XU Biweekly | No. 72

PayPal Ventures Invests in Prometeo T G HE SCALABILITY, RELIABILITY, AND COMMITMENT OF THE PLATFORM TO THE HIGHEST INDUSTRY STANDARDS HAVE SOLIDIFIED PROMETEO AS THE PREFERRED CHOICE FOR BOTH LARGE CORPORATIONS AND RAPIDLY GROWING STARTUPS IN THE FINANCIAL INDUSTRY.

Prometeo, a leading fintech infrastructure company connecting global corporations with financial institutions in Latin America, today announced that it has raised USD $13 million in Series A funding. The round was led by Antler Elevate with participation from new investors PayPal Ventures, Samsung Next and partners from DN Capital, as well as existing backers including Cometa and Magma Partners. The company plans

to use the funds to expand its multi-banking data and payments offerings in the region.

Prometeo’s unique platform provides the technological infrastructure that enables global corporations to seamlessly connect into the financial systems of Latin America. Prometeo’s embedded banking software platform provides its clients with simple and automated access to bank information and payments from more than 283 financial institutions in 10 countries throughout Latin America, all through a single, unified API. With Prometeo, clients around the world are able to connect into Latin America in a simpler, faster, and more secure way, while also reducing friction and costs.

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Wise Platform Mission Update Q4 2023

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OW - WHAT A WAY TO ROUND OFF THE YEAR!

Over the last three months, Wise Platform has announced 4 brand-new partnerships, hosted the second ever ‘Wise Connect’, this time from a beach club in Singapore, and spoke at some of the industry’s biggest events. Read on to find out more about what we’ve been up to in Q4.

Meet our new partners Allica Bank - In December, we launched our partnership with Allica Bank to provide UK businesses with a transparent and low-cost way to send money internationally. Our Wise Platform integration means that Allica customers - established businesses with 10-250 employees in the UK - can complete the whole process of making an international

payment quickly and conveniently within their own banking app. Business owners will have full visibility over the total fees their payment costs, and be able to guarantee the exact amount that will be received by their recipient.

Webexpenses - We also partnered with Webexpenses to provide a seamless and efficient expense management solution across multiple currencies. This is a game-changer for businesses seeking to optimise their processes; in collaboration with Wise, Webexpenses is transforming finance teams’ productivity while ensuring they can maintain access to the secure, reliable payments they need.

Coverage of this partnership in Yahoo! Finance, FFNews, and Finextra.

Find out more

Comic Relief extends relationship with GoCardless to easily collect donations year-round

OCARDLESS, THE BANK PAYMENT COMPANY, AND COMIC RELIEF, THE UK CHARITY, HAVE EXTENDED THEIR RELATIONSHIP UNTIL 2026, ENABLING COMIC RELIEF TO CONTINUE USING GOCARDLESS FOR DIRECT DEBIT TO EASILY COLLECT RECURRING DONATIONS ALL YEAR ROUND. This will enable Comic Relief, which started working with GoCardless in 2019, to take more donations outside of its yearly Red Nose Day fundraising campaign, giving people an easier way to support the causes that matter to them. The announcement comes as research from GoCardless revealed that Brits still want to donate despite the ongoing cost of living crisis, with 37% of people saying they will continue to give to charity even if their finances are squeezed.

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New Jack Henry Partnership Makes Payhawk successfully obtains a UK Electronic it Easier for Community Banks to Money Institution (EMI) Take Advantage of Pinwheel license

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E ARE THRILLED TO ANNOUNCE PINWHEEL'S NEW STRATEGIC PARTNERSHIP WITH JACK HENRY, A LEADING FINANCIAL TECHNOLOGY COMPANY, WHICH GIVES THEIR CUSTOMERS A FAST PATH TO IMPLEMENTATION FOR THE INDUSTRY'S TOP PERFORMING DIRECT DEPOSIT SWITCHING SOLUTION. THIS COLLABORATION IS SET TO REVOLUTIONIZE THE DIGITAL DIRECT DEPOSIT SETUP EXPERIENCE FOR ACCOUNTHOLDERS AT COMMUNITY AND REGIONAL FINANCIAL INSTITUTIONS.

Seamless Integration with Jack Henry's Digital Banking Platform Utilizing the Banno Digital Toolkit™, the set of APIs on which the Banno Digital Platform™ is built, we have seamlessly integrated our top-performing direct deposit switching (DDS) solution into the Jack Henry digital banking platform.

This integration, facilitated

by Jack Henry's API, design, and authenticated frameworks, contributes to their extensive ecosystem of over 950 fintechs, benefiting approximately 7,500 financial institutions and their account holders.

Market-Leading Coverage with Pinwheel's DDS Our next-generation DDS product stands out due to its market-leading coverage, encompassing 100% of the US workforce. This inclusivity allows any US worker, whether a full-time employee, gig worker, or recipient of unemployment benefits or SSI payments, to move their direct deposit within seconds.

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AYHAWK SECURES UK ELECTRONIC MONEY INSTITUTION (EMI) STATUS FROM THE FCA AND STRENGTHENS ITS LEADERSHIP TEAM WITH KEY HIRES, INCLUDING A NEW GENERAL COUNSEL AND CHIEF COMPLIANCE OFFICER WITH NOTABLE EXPERIENCE IN REGULATED FINANCIAL INSTITUTIONS. Payhawk, the global spend management solution, is now a licensed Electronic Money Institution (EMI) in the UK.

A key differentiator in our partnership with Jack Henry is our innovative payroll partner network.

The Financial Conduct Authority granted the license after extensive due diligence into Payhawk's compliance, financial, and operational processes. The new UK EMI license will allow Payhawk to directly issue electronic money, facilitate digital payments and provide card issuance and payment solutions to new and existing UK customers.

Find out more

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Innovative Payroll Partner Network

Revolut announces new Starling Bank launches payments with Aer new brand platform as Lingus, as itpartnership targets travel sector bank pushes for growth R

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TARLING BANK HAS CREATED A NEW BRAND PLATFORM, WITH A NEW POSITIONING, STRATEGY AND AD CREATIVE DEVELOPED TO MARK THE BEGINNING OF AN AMBITIOUS YEAR OF GROWTH FOR THE BANK.

‘The Bank Built for You’ platform celebrates how banking is about more than just money, it’s about the people behind every transaction, and highlights how Starling’s creative money-management tools fit into all aspects of life.

The campaign nods to the bank’s approach to product development, building the features customers ask for,

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Saturday 27th January 2024

and creating an experience that puts people first.

The campaign is matched by a media-buying strategy that better reflects how real people engage with content.

The TV campaign features three 30-second ad spots, created in partnership with Wonderhood Studios, which each tell a relatable human story that showcases how Starling is ‘The Bank Built for You’.

The spots were directed

by Lucy Forbes, director of ‘This is Going to Hurt’ and ‘The End of the F***ing World’.

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EVOLUT, THE GLOBAL FINANCIAL SUPER APP, HAS TODAY ANNOUNCED A PARTNERSHIP TO OFFER ITS REVOLUT PAY PAYMENT TECHNOLOGY TO AER LINGUS CUSTOMERS. Revolut Pay will enable customers of Ireland’s flag carrier to pay at checkout with just one click. Revolut’s 2.5 million Irish customers and wider global customer base will now be able to book flights with the airline without the need to input their payment details, simply by clicking Revolut Pay at checkout on the Aer Lingus website and app.

Customers can approve the payment securely in their Revolut app - which is

protected by their passcode or biometric identification.

The ease and speed of Revolut Pay technology allows merchants like Aer Lingus to maximise their conversion rates and enjoy reduced costs for payment processing, with cart abandonment rates below 10% and an average authorisation rate of 98.5%. The payment solution also allows businesses to accept payments with low fees in more than 25 currencies, and to settle funds within 24 hours.

Revolut Pay forms part of Revolut Business’ payments acceptance offer, as part of its wider business finance platform.

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