Receipt Bank scoops up $73 million to help businesses with digital bookkeeping - Business Insider

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 62 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 28%
  • Publisher: 51%

日本 ニュース ニュース

日本 最新ニュース,日本 見出し

Platforms like Receipt Bank will likely continue to be in high demand from SMBs as they look to streamline their operations:

The round was led by Insight Partners and included Augmentum Fintech, Kennet Partners, and Canadian Imperial Bank of Commerce . Receipt Bank uses machine learning to process financial information from different sources in order to digitize and categorize the info to improve accountants' and bookkeepers' productivity.

Receipt Bank was able to double its customers last year. In 2019, the fintech took the total number of businesses using the platform to over 360,000. Additionally, 50,000 bookkeepers use Receipt Bank. By automating bookkeeping to save businesses time and money, Receipt Bank reduces the time accountants spend weekly on financial administration per business by 1 hour, and frees small businesses from 120 hours of annual financial administration.

Here's why Receipt Bank will likely continue to attract more clients, and what it can do to further boost success: Small businesses still lack access to appropriate financial services. UK-based small- and medium-sized businesses spend nearly three working weeks every year navigating tax reporting processes, data from the Federation for Small Businesses , with 40% of SMBs saying that automation of tax calculations would be useful. So, platforms like Receipt Bank will likely continue to be in high demand from SMBs as they look to make their operations more efficient.

Moving forward, Receipt Bank should look into integrating with banks and neobanks to remain relevant. A number of fintechs are looking to help SMBs get access to appropriate financial services.

このニュースをすぐに読めるように要約しました。ニュースに興味がある場合は、ここで全文を読むことができます。 続きを読む:

 /  🏆 729. in JP
 

コメントありがとうございます。コメントは審査後に公開されます。

日本 最新ニュース, 日本 見出し

Similar News:他のニュース ソースから収集した、これに似たニュース記事を読むこともできます。

Tesla's success proves that what America needs is business, business, and more business - Business InsiderFor 10 years the country has discouraged more than encouraged new businesses to get started. That needs to change, following Tesla's example. Winning, winning, winning with Trump. Still not bored of it.... Big business has been working hard to stop electric cars and Tesla Media can’t even to pretend correctly they like this guy and the disruption his companies are making for business as usual, petroleum backed/invested, media owning interests.
ソース: BusinessInsider - 🏆 729. / 51 続きを読む »