Category: Accounting & ERP
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Best Open banking API for Accounting & ERP startups
What You Will Discover: Introduction The accounting and ERP landscape is experiencing a fundamental shift through open banking integration. According to the Financial Conduct Authority’s 2023 report, businesses using open banking APIs have reduced their accounting reconciliation time by 72% on average. This transformation is particularly significant in the UK, where the Open Banking Implementation…
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Expert guide: Top 3 Open banking providers for UK’s Accounting & ERP Firms
What You Will Discover: Are your weekends consumed by manual reconciliation? Does your team spend countless hours downloading bank statements and matching transactions? Perhaps you’re watching competitors offer real-time financial insights while your firm struggles with data delays and manual processes. If you’re searching for a way to transform these challenges into opportunities, you’ve come…
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Open Banking Use Cases: From Bookkeeping to Advisory
What You Will Discover: Picture Sarah, a senior accountant at a growing firm in London. She spent hours downloading bank statements, matching transactions, and updating client records every Monday morning. Her team would dedicate weekends to reconciliation, often missing their children’s football matches. Today, Sarah enters her office, opens her laptop, and finds all weekend…
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4 Ways Finexer Transforms Business Finance Management
Picture this: Your finance team spending countless hours juggling spreadsheets, manually entering data, and chasing down expense reports. Sounds familiar? You’re not alone. Many businesses are stuck in this loop, but here’s the good news – there’s a better way. In today’s rapidly evolving business landscape, the traditional approach to managing finances is undergoing a…
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A Practical Guide to Enhancing Financial Advisory Services
What You Will Discover: Introduction In today’s fast-paced financial landscape, clients expect their financial advisors to provide them with up-to-date, accurate, and insightful advice. However, many financial advisory firms still rely on outdated data collection and analysis methods, which can lead to delayed insights, limited time for meaningful client conversations, and difficulty scaling services without…
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How to Master Business Financial Management in 10 Steps
What You Will Discover: Understanding business financial management is key to any organisation’s growth and survival. Financial missteps cause serious problems. Knowing how to manage finances is important. This post presents ten essential steps to navigate finance effectively. From setting financial goals to embracing technology, this guide gives you the tools to enhance your financial…
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Accurate Cash Flow Forecasting for Businesses in the UK
What You Will Discover: In today’s fast-paced business environment, traditional methods of cash flow forecasting often present significant challenges. Finance teams typically spend hours consolidating data from multiple banking platforms, leading to delayed insights and reduced accuracy in financial planning. In fact, a recent survey revealed that a staggering 70% of financial leaders report spending…
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Efficient Auditing with Open Banking Integration
What You Will Discover: According to a recent study by Accenture, open banking is expected to revolutionise the auditing industry, with 84% of banks planning to invest in API-driven solutions by 2025. As the auditing landscape evolves, the integration of open banking and modern APIs is emerging as a game-changer, transforming how auditors work and…
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Guide to Open Banking Data Aggregation for Accounting Firms
What You Will Discover: Introduction Did you know that open banking data aggregation can significantly reduce the time spent on manual data entry for accounting firms? According to a study by Forrester Research, automated data collection through open banking APIs can save businesses up to 2 hours per day on manual data entry tasks. This…
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Automated Bookkeeping with Open Banking APIs
What You Will Discover: Introduction Did you know that manual bookkeeping can consume up to 20 hours per week for accounting teams? That’s a staggering 1,040 hours per year spent on tedious tasks like data entry and reconciliation. In today’s fast-paced business world, this inefficiency can significantly hinder growth and success. However, there is a…
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From 3 Hours to 3 Minutes: Transforming Payment Processing for Accounting Firms
What You Will Discover: The reality of modern accounting practices reveals a significant challenge: UK accounting firms spend an average of 2.5 hours daily on payment processing tasks. This translates to 650 hours annually spent on processes that modern open banking APIs can handle in minutes. As technology budgets tighten and talent costs increase, forward-thinking…
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Supercharge Your Payment Collections with Accounts Receivable Automation
What You Will Discover: Introduction: In today’s fast-paced business landscape, efficient cash flow management is the lifeline of any thriving organisation. However, many UK businesses find themselves tangled in a web of manual accounts receivable (AR) processes that drain resources, hinder productivity, and stunt growth. This blog post unveils the transformative power of AR automation…
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Manual Reconciliation vs Automation: Save Upto 60+ Hours Monthly
What You Will Discover: It’s 2 PM on a Sunday. Sarah, the Financial Controller at a growing tech firm in Manchester, is surrounded by Excel sheets, reconciling hundreds of transactions. This isn’t how she imagined spending her weekends when she took the role. Sound familiar? For countless mid-sized firms across the UK, weekend reconciliation has…
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Payment Processing Fees: How Accounting Firms Can Save Upto 90%
What You Will Discover: A comprehensive payment processing fees comparison for accounting firms reveals that practices are losing thousands of pounds annually to unnecessary transaction costs. With Finexer’s Open Banking API, forward-thinking firms are cutting these costs by up to 90%. Picture this: It’s January, and your accounting practice is processing hundreds of tax season…
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Small Accounting Firms’ Guide to Instant Payments Collection
What You Will Discover: In the quiet hours after closing another client’s books, many small accounting firm owners face an ironic reality: while they excel at managing their clients’ finances, their cash flow remains trapped in a delayed payment cycle. Recent research from Accounting Today’s Practice Management Report reveals that small accounting firms wait an…
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Get Paid Faster: Connect Xero with Finexer Payment Solutions
What You Will Discover: In today’s fast-paced business world, efficiency and automation are key to success. For accounting professionals, streamlining financial processes and reducing manual tasks can lead to significant time and cost savings. This is where the integration of Xero, a powerful cloud-based accounting software, with Finexer’s Open banking payment solution, comes into play.…
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Free Accounting Software for Startups in the UK
What You Will Discover In today’s fast-paced business environment, choosing the right accounting software isn’t just about keeping books but building a foundation for growth. With the UK’s Making Tax Digital (MTD) initiative and evolving financial technology landscape, startups need cost-effective and future-ready solutions. Why Free Accounting Software Makes Sense for Startups The UK startup…
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Open Banking for Accountants
What You Will Discover Accounting firms stand at a pivotal crossroads in a world where digital transformation is reshaping every industry. Picture an accountant’s typical Monday morning: downloading countless CSV files, manually matching transactions, and spending hours reconciling accounts. Now, imagine those tasks happening automatically while they focus on strategic advisory services for their clients.…
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7 Top-Rated ERP Systems for UK SMEs in 2024
Enterprise resource planning (ERP) is a software system that helps you run your entire business, supporting automation and processes in finance, human resources, manufacturing, supply chain, services, procurement, and more. Introduction In the dynamic landscape of UK business, the role of a robust ERP (Enterprise Resource Planning) system has become indispensable. As firms grapple with…
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Unlocking Open Banking for Accounting and ERP Systems
Open Banking is a financial services model that allows third-party developers to access financial data in traditional banking systems through application programming interfaces (APIs). This model completely changes the way financial data is shared and accessed. What You Will Learn From This Blog 🗸 The fundamentals and historical evolution of Open Banking. 🗸 How integrating Open…
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Top 19 Payroll Software Solutions for UK SMEs in 2024
Payroll Software is an on-premises or cloud-based solution that manages, maintains, and automates payments to employees. Robust, integrated, and properly configured payroll software can help organizations of all sizes maintain compliance with tax laws and other financial regulations, and reduce costs Navigation Table Introduction 1. Xero Payroll Xero Payroll Features Xero Payroll Pricing Xero Payroll Pros…
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Open Banking: A New Era for Payroll and Invoicing Management
A payroll invoice is a formal document issued by an employer to an employee, detailing the wages or salaries earned by the employee for a specific pay period. It serves as a summary of the employee’s compensation, including basic wages, overtime, bonuses, commissions, and various deductions, such as taxes, Social Security contributions, and employee benefits.…