Digi-Tools In Accrual World

Accounts Payable Automation: Who will win out? We catch up with Nook, one of the OGs of AP automation

Have you caught the news on the latest apps in the market?
There are some new kids on the block in payment automation apps, and we're keen to hear from some of the OGs to find out their perspectives and lessons learned on market trends/adoption over the last two years. We spend some time with Joe Lines, CEO of Nook, to talk about tech innovations, future features and the appetite from SMEs for more. 

Tune in if you're looking to compare the market on AP or AR automation.

We also spend some time with Vipul Sheth, whose upcoming pre Accountex event is imminent. If you're not on his list and want to see whether you'd benefit then here's 8 minutes from the man himself.

• Finally app news this week:
  Phil Hobden joins Silverfin - https://www.linkedin.com/posts/philhobden_accountex-accountants-fintech-activity-7181574519524839424-FrEF?utm_source=share&utm_medium=member_ios
• Diya Jolly promoted to CPTO - https://www.xero.com/uk/media-releases/diya-jolly-promoted-chief-product-and-technology-officer/
• Five vendors for MTD ITSA release - https://www.accountingweb.co.uk/tech/tech-pulse/five-vendors-available-as-hmrc-readies-mtd-itsa-testing-relaunch
• Spendesk acquires Okko - https://www.pymnts.com/acquisitions/2024/spendesk-adds-procurement-to-spend-management-platform-with-okko-acquisition/
• Xero new invoicing - https://blog.xero.com/product-updates/xero-invoicing-smarter-flexible-future/
• Syft updates
  Scrutton Bland acquired by Sumer - https://www.accountancyage.com/2024/04/10/sumer-expands-scottish-and-northern-english-footprint-with-merger-of-eq-and-douglas-home-co/

All things AP with Bogdan Uzbekov, CEO of Apron. Plus bumper app news

Apron, the AP accounting tech focusing on all things payable, has been on a mission for some big software releases since it burst onto the scene late last year post their Series raise. We catch up with Bogdan Uzbekov about his plans to service the accounting market and plans to go into banking, carding or lending. Hear more here.

Don't forget to book your ticket for our upcoming event - we hope to see you at the Digital Accountancy Show on the 16th and 17th of April.

And this week in app news:

• Iplicit – 18th fastest growing UK business - https://www.ft.com/ft1000-2024?utm_content=284715055&utm_medium=social&utm_source=linkedin&hss_channel=lcp-10141131
• Iplicit is best MAT tool – MAT awards - https://www.iplicit.com/blog/iplicit-secures-tech-company-of-the-year-accolade-at-na[…]tm_medium=social&utm_source=linkedin&hss_channel=lcp-10141131
• Allica bank integrates with Sage and Xero - https://www.assetfinanceinternational.com/index.php/technology/technology-archive/technology-articles/23570-allica-bank-announces-integrations-with-sage-and-xero-accounting-platforms
• Coconut acquires MyPAYE https://www.accountingweb.co.uk/tech/accounting-software/coconut-owners-acquire-cloud-payroll-tool-mypaye
• Xero announces exciting payroll changes - migration made easy - https://blog.xero.com/product-updates/new-changes-in-xero-payroll-uk/
• Capium releases new time and fees - https://www.accountingweb.co.uk/tech/practice-software/capium-releases-new-time-and-fees-tracking-module
• Zahara custom fields and payments 
• Dext due dates extraction - https://www.linkedin.com/posts/stephenedginton_we-now-extract-due-dates-via-ai-dext-used-ugcPost-7170766424586588160-5sX3?utm_source=share&utm_medium=member_ios
• Nook app updates - payment run resolutions & ability to change scheduling dates on payments and rules & pre-warning of shortage of funds. Payments for payroll via the app!
• BBC AI taking grind out of accountancy https://www.bbc.co.uk/news/business-68553123

All things AUDIT! Intelligent Automation with Vidya Peters from Datasnipper

Join John while he interviews Vidya Peters on her time so far with Datasnipper. Ex-Marqeta COO, Vidya was appointed CEO of Datasnipper, an intelligent automation platform that recently raised $100 million in a Series B funding round at a valuation of $1 billion. John catches up with Vidya to find out the plan for growth in the UK and all things accounting.

Also we find time with Vipul Sheth, CEO of AdvanceTrack, to talk more on the opportunity for mid-tier firms and trends he's seen on recruitment of talent in the space.

In this week's app news:

• Bye bye Xero Go - https://www.linkedin.com/posts/siwoodhams_uk-mobile-app-xero-go-to-be-retired-xero-activity-7173598209813000193-UCSa?utm_source=share&utm_medium=member_ios, https://blog.xero.com/product-updates/retiring-xero-go/
• Alex Von Schirmeister expans role to EMEA - https://www.linkedin.com/posts/alexander-von-schirmeister-045375_i-am-delighted-to-have-been-asked-to-expand-activity-7170458969570758656-h3V9?utm_source=share&utm_medium=member_ios
• Xero payroll Bureau product
• Xero releases JAX - https://www.accountingweb.co.uk/tech/accounting-software/xero-backs-generative-ai-to-accelerate-software-shift-to-mobile
• Sage co-pilot - https://www.accountingweb.co.uk/tech/accounting-software/sage-unveils-cross-platform-generative-ai-copilot-tool
  RP - Sage expands construction solutions with acquisition - https://insightfulaccountant.com/accounting-tech/general-ledger/sage-expands-and-enhances-construction-solutions/
• QBO confirms FRS102 and personal tax filing - https://www.accountingweb.co.uk/tech/accounting-software/quickbooks-confirms-frs-102-and-personal-tax-filing
• Datasnipper - $1B valuation - https://www.linkedin.com/posts/abigail-weir-b68917198_thank-you-nyse-for-inviting-the-datasnipper-ugcPost-7171978576378994688-ruLq?utm_source=share&utm_medium=member_ios
• Wolters Kluwer unveils CCH IFIrm cloud tax and accounting https://www.accountingweb.co.uk/tech/practice-software/wolters-kluwer-unveils-cch-ifirm-cloud-tax-and-accounting-platform
• Wolters Kluwer release AML for CCH Ifirm https://www.accountingweb.co.uk/tech/accounting-software/wolters-kluwer-releases-cloud-aml-module-for-cch-ifirm
• Apron invoice capture released - https://www.accountingweb.co.uk/tech/accounting-software/apron-serves-up-invoice-capture-tool-to-streamline-accounting-data
• MTD ITSA testing starts 22/4 - https://www.accountingweb.co.uk/tax/hmrc-policy/hmrc-to-kick-off-mtd-itsa-testing-on-22-april
• Pleo – invoice approvals, invoice status, employee reimbursements 
• Pleo pricing changes – Pleo’s Advanced Plan starts at £99/month - and includes new releases such as spending budgets, SaaS vendor cards and higher overdraft limits. Cashback contracts require minimum 12-month commitment with upfront payment
• Lightyear employee expenses - https://www.lightyear.cloud/features/expenses

Being an Accounting Entrepreneur with Eriona Bajrakurtaj, MD of Major's Accounts

This week we are joined by MD of Major's Accounts, Eriona Bajrakurtaj, who talks about her entrepreneurial journey from very humble beginnings to being one of the most enterprising female entrepreneurs in the accountancy industry. If you're looking at how to shake up your Practice and press a hard reset, give this a listen to see if Eriona's playbook could work for you.

Also we're joined by Vipul Sheth, the CEO of AdvanceTrack Outsourcing, who talks about the value of his tech stack and data. Outsourcing is not for every firm but at a time where finding good talent is not easy, AdvanceTrack are leading the way on remote management of resources with a tech first approach.

Finally in this week's app news:

• Pento acquired by HiBob - https://www.linkedin.com/posts/jonasboegh_glad-youre-here-welcoming-pento-to-the-activity-7163092169174589440-cVuS?utm_source=share&utm_medium=member_android
• QBO – advanced forecasts - https://insightfulaccountant.com/accounting-tech/general-ledger/quickbooks-online-advanced-financial-forecasts/
• QBO standard payroll replaced by Core 
• QBO Bureau payroll launches 
• Revolut to release Billpay later 2024 - https://www.linkedin.com/posts/marcelvanoost_banking-digitalbanking-businessbanking-activity-7165618394849882113-ovG9?utm_source=share&utm_medium=member_ios
• KPMG launches AI tax tool with Blue J - https://www.accountancyage.com/2024/02/22/kpmgand-blue-j-launch-ai-tax-tool/
• Chaser releases auto-call - https://www.linkedin.com/posts/soniadorais_automation-chaser-accountsreceivables-activity-7165753014652223489-4KcQ?utm_source=share&utm_medium=member_ios
• FreeAgent Dext Prepare integration - https://www.freeagent.com/blog/dext-prepare/
• FreeAgent extends Amazon integration - https://www.freeagent.com/blog/extending-amazon-integration-reach/
• Mayday intra entity recharging 
• End of the road for TAS Books - https://www.accountingweb.co.uk/tech/accounting-software/tasbooks-heads-for-the-exit-door
• Capium releases Time & Fees - https://www.accountingweb.co.uk/community/industry-insights/introducing-capiums-new-time-fees-software-for-the-accounting-and
• Companies House fee increases, plus digital only - https://www.accountingweb.co.uk/business/financial-reporting/companies-house-fees-set-to-rise

Sabby Gill, CEO of Dext, levelling up on Bookkeeping Data Automation

This week we're joined by the super impressive Sabby Gill who talks to us about how Dext has levelled up on its core product, Bookkeeping Data Automation. We cover latest changes and priorities for the business as well as Dextension and the application of AI in the roadmap.

Also in this week's app news:

• End of QB desktop in US? - https://insightfulaccountant.com/accounting-tech/general-ledger/is-july-31-2024-the-end-of-quickbooks-desktop/
• Datasnipper valuation $1bn - https://www.linkedin.com/posts/youssefhounat_datasnipper-startup-that-uses-ai-to-eliminate-activity-7158781672820264960-4IM-?utm_source=share&utm_medium=member_android
• Pennylane becomes unicorn -https://techcrunch.com/2024/02/07/accounting-software-startup-pennylane-becomes-frances-latest-unicorn/
• ChangeGPS will be part of Access - https://www.linkedin.com/posts/davidboyar_i-am-thrilled-that-the-next-phase-of-changegps-activity-7158562132257566724-zPMn?utm_source=share&utm_medium=member_ios
• Classic invoicing is retiring – Xero – App news channel 30/1/24
• Karbon billing and payments 
• Xbert launches AI data tool - https://www.accountingweb.co.uk/tech/accounting-software/xbert-launches-ai-data-tool-in-the-uk
  Deepfake CFO - https://www.accountingweb.co.uk/tech/tech-pulse/deepfake-cfo-dupes-hong-kong-business-into-ps20m-payment
• Sage for accountants release - https://www.accountingweb.co.uk/community/industry-insights/sage-for-accountants-in-2024-the-11-latest-features-to-enhance-your

Latest App News and MazApp by Lucy Cohen secures additional investment

Hear the latest app news with Ryan, John and Indi:

• HMRC mandate payrolling benefits https://www.accountancyage.com/2024/01/25/hmrc-to-mandate-payrolling-of-benefits-from-april-2026-implications-and-preparations-for-accountants/
• Launch of Receipt Bot - https://www.accountingweb.co.uk/tech/accounting-software/receipt-bot-targets-accounting-data-revolution
• Xemplo integrates with xero payroll - https://www.linkedin.com/posts/xemplo_xemplo-xero-payroll-integration-explore-activity-7155012613800652800-6acN?utm_source=combined_share_message&utm_medium=member_io
• GoCardless enhances FreeAgent integration - https://www.freeagent.com/blog/direct-debit-gocardless-payments/
• Naq raised €3m seed round - https://www.linkedin.com/posts/activity-7155868898850930688-Tlpl/?utm_source=combined_share_message&utm_medium=member_ios
• Netcall acquires Skore - https://www.linkedin.com/posts/skore-labs_netcall-acquires-process-improvement-provider-activity-7155504602488999936-f3nO?utm_source=combined_share_message&utm_medium=member_ios
• Capitalise powers FSB funding platform - https://capitalise.com/gb/insights/the-federation-of-small-businesses-partners-with-capitalise
• Coconut & GoSimple Tax integration - https://www.linkedin.com/posts/james-cryne-451b2a16_exciting-news-for-accountants-activity-7155507714498916352-Ti6P?utm_source=share&utm_medium=member_ios

We also catch up with Lucy Cohen from Mazuma about her latest raise and plans for their proprietary data capture app MazApp. Is AI next on the roadmap?

Socket to us Johnny Gaunt, what’s on the 2024 accounting tech agenda

New Year New You... Same Old DTIAW with a Bumper App News

Join our Digital Disruptors community to keep updated on the latest app news and events we'll be running this year.

This week we have a bumper app news to kick off 2024 and we take a look back at 2023 on apps we would bed, buy, bin based on their releases and forward plans.

In app news this week:

• GI and Advancetrack settle - https://www.accountancydaily.co/ip-case-settled-between-gi-outsourcing-and-advancetrack
• IRIS pay improved- https://www.unipaas.com/blog/iris-pays-next-chapter-a-strategic-partnership-with-unipaas-enhances-kashflow 
• IRIS looking to sell for £3bn - https://finance.yahoo.com/news/kkr-advanced-talks-3-billion-150834828.html
  https://www.linkedin.com/posts/mergerlinks_leonard-green-partners-completed-the-acquisition-activity-7146601869576970241-ciqA?utm_source=share&utm_medium=member_ios
• Iplicit gets OCR - https://www.accountingweb.co.uk/community/industry-insights/iplicit-offers-all-customers-ap-automation
• AI tool Jenesys lands $1.1m to reimage role of accountants - https://www.accountingweb.co.uk/tech/accounting-software/ai-tool-jenesys-lands-11m-to-reimage-the-role-of-accountants
• BDO launches secure AI platform personas https://www.accountancydaily.co/bdo-launches-secure-ai-platform-personas
• Allica partners with Wise - https://www.finextra.com/pressarticle/99010/allica-bank-signs-with-wise-for-cross-border-money-transfers
• Pivot (procurement app) raises $21.6m - https://techcrunch.com/2023/12/12/procurement-software-startup-pivot-raises-216-million-just-a-few-months-after-its-creation/
• Xero partner pricing increase - https://www.xero.com/uk/pricing-plans/partner-update/?fbclid=IwAR1mBcJmVESw9Nx4HpIpEwGDlFwCWbkOeS8G09ZDBfP8I79ENYjC6W5ohGM
• Xero money matters report 
• Xero hackathon releases - https://blog.xero.com/product-updates/highlights-from-2023-hackathon/
• Dext updates - https://www.linkedin.com/posts/ben-s-9b707522_weve-been-delivering-the-q4-update-for-dext-activity-7138558551454547970-hTDq?utm_source=share&utm_medium=member_ios
• Quickbooks enhance reporting coming - https://insightfulaccountant.com/accounting-tech/general-ledger/quickbooks-enhanced-reporting-changes-underway/
• QBO balance sheet budgets https://insightfulaccountant.com/accounting-tech/general-ledger/quickbooks-online-balance-sheet-budgets/
• FreeAgent supports self assessment property pages https://www.freeagent.com/blog/self-assessment-property-pages/
• ServiceM8 updates - https://www.servicem8.com/uk/october-2023-update
• Bill (formerly bill.com) launches lots of new features - https://insightfulaccountant.com/accounting-tech/vendor-news/bill-announced-new-features/
• HMRC side hustle tax for online sellers https://uk-style-yahoo-com.cdn.ampproject.org/c/s/uk.style.yahoo.com/amphtml/hmrc-rolls-side-hustle-tax-175719631.html
• HMRC reveal existence of income tax https://www.ladbible.com/news/sport/luke-littler-net-worth-money-earnings-hmrc-712229-20240104

2023: that’s a wrap. Intelligent Automation with Bots For That & which 2024 accounting event are you bedding, buying or binning??!

End of the year and that's a wrap for 2023. We end on the same note as we started with AI, or as Daniel Lawrence of Bots For That puts it, "Intelligent Automation".

 

Have you considered RPA or using AI of manual tasks such as bank reconciliation rather than hiring? Well this tidy interview gives you an idea of how other accounting firms are using intelligent automation in their processes. Seems like a fitting end to the year that has been all things AI.

 

And in app news this week: 

• FreeAgent and smart capture - https://www.freeagent.com/blog/introducing-smart-capture/
• FreeAgent for landlords - https://www.freeagent.com/blog/freeagent-for-landlords/
• Fresh Books board changes less the drama - https://www.freshbooks.com/blog/a-letter-from-freshbooks-founder-and-board-chair
• Iplicit's exciting batch of releases 2023. Not to be missed - https://www.accountingweb.co.uk/community/industry-insights/new-iplicit-functionality-of-2023-round-up
• TaxCalc handles FRS102s to LLPs - https://www.accountingweb.co.uk/tech/accounting-software/taxcalc-expands-frs-102-capabilities-to-llps
• Know-IT new App - https://know-it.co.uk/blog/automated-credit-control-platform-know-it-goes-mobile-with-a-brand-new-app/
• Excel changes - hold on to your seats - Groupby & Pivotby - https://www.linkedin.com/posts/davebenaim_excel-activity-7130466435788595201-mTfN?utm_source=share&utm_medium=member_ios
• Spotlight Sustain and advancements in ESG accounting - https://www.spotlightsustain.com/?utm_content=272732482&utm_medium=social&utm_source=linkedin&hss_channel=lcp-2431406
• Payhawk launches PO - https://www.finextra.com/pressarticle/98856/payhawk-launches-purchase-order-system
• German B2B e-invoicing delay - https://ffnews.com/newsarticle/funding/uk-sme-payments-fintech-crezco-raises-12m-announces-its-technology-partnership-enabling-a-new-xero-feature/
• Caution on the digital pound - https://www.bbc.co.uk/news/technology-67590468
  
  

Finally BED, BUY or BIN for accounting events - what is coming up in the next few months. We cover the events we're putting in the bed, buying or binning off. Caveat - we are signed up to all of them including the inaugural FAB event run by Accounting Web in Birmingham this year. See you there!

What’s Appening With Sage / QBO / Xero? Meet Transluscent by ex-Dext Founder Michael Wood

Latest app news covering the numerous software and business updates, this week we feature:

• Sage results - https://www.sage.com/investors/investor-downloads/press-releases/2023/11/full-year-2023-results-22-november-2023/
• Xero results - https://www.linkedin.com/posts/kirstygodfreybilly_today-we-reported-xeros-half-year-earnings-activity-7128196997060198400-4wJ1?utm_source=share&utm_medium=member_ios
• Xero beautiful business fund winners - https://www.xero.com/blog/2023/11/beautiful-business-fund-winners-2023/
• Xero HQ – tax manager - https://www.xero.com/blog/2023/11/new-tax-manager-in-xero-hq/
• XERO AWS link - https://devblog.xero.com/were-collaborating-with-aws-to-help-small-businesses-digitise-9d98275203de?source=rss----ed4d3abf1c21---4
• Xero automated sales tax US - https://insightfulaccountant.com/accounting-tech/general-ledger/xero-introduces-new-automated-sales-tax/
• Xero Pay - https://blog.xero.com/product-updates/pay-bills-without-leaving-xero/
• Xero e-invoicing - https://blog.xero.com/product-updates/introducing-einvoicing-in-the-uk/
• Sage CTO AI vision - https://www.accountingweb.co.uk/tech/accounting-software/sage-cto-spells-out-ai-accounting-vision
• Sage Intacct releases - https://insightfulaccountant.com/accounting-tech/vendor-news/new-sage-intacct-features/
• QuickBooks Inventory - https://insightfulaccountant.com/accounting-tech/general-ledger/quickbooks-inventory-sales-and-e-commerce-enhancements/
• QBO trade gecko fearures - https://insightfulaccountant.com/podcastsvideo/quickbooks-sales-orders/
• QB ledger - https://insightfulaccountant.com/podcastsvideo/quickbooks-ledger/
• QB payroll & HR announcements - https://insightfulaccountant.com/accounting-tech/payroll-merchant-services/other-quickbooks-payroll-and-hr-enhancements/
• QB closing Mint - https://insightfulaccountant.com/in-the-news/people-and-business/mint-app-to-end-january-1-2024/
• Intuit new prod launches QBC - https://insightfulaccountant.com/accounting-tech/vendor-news/intuit-quickbooks-unveils-new-product-innovations/

 

Followed by a sneak peek into Michael Woods’ latest venture, Transluscent, backed by an all-star line league of accounting tech veterans. 

If you like this episode and haven’t reviewed us yet, don’t forget to take 2 minutes to write us one. Thanks!