Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Xero and ASB launch Business to Bank payments

Xero and ASB launch Business to Bank payments

29 April 2014

Small businesses can now save hours per month in accounts payable processing, thanks to a joint initiative between Xero and ASB Bank. The next generation banking model allows businesses to have invoices initiated for payment from within Xero and approved and released from within the ASB FastNet Business online banking product.

This world-first model for cloud accounting is the latest in ASB and Xero’s partnership, which sees the organisations working together to improve the small business customer experience and enhance productivity.

ASB Executive General Manager – Technology & Innovation Russell Jones says, “This online integration between ASB FastNet Business and Xero streamlines business-to-business payments. Small business owners, or their bookkeeper or accountant, can now prepare payments in Xero and send them securely to FastNet Business, ready for the business owner to check and authorise.

“With our ASB Mobile Business app, it’s even easier as our business customers can authorise payments from literally anywhere with mobile coverage. This gives time back to busy business owners allowing them to focus on managing and growing their business or spending time with the family.”

Xero banking and payments expert Matt Vickers says, “The innovation partnership with ASB is allowing us to improve and simplify the workflow process between accounting and banking, making life easier for small business owners.”

“Previously, business owners would manually download bank statements and then load them into their accounting software. We now have a secure two-way connection between banking and accounting. Our first initiative with ASB was creating the ability to start automated bank statement feeds from within their online banking platforms, rather than via paper forms. This latest initiative leverages that connection by allowing customers to initiate payment instructions and send them securely to the bank for authorisation and release.”

“This is world-class banking that is being noticed across all our markets and we hope will become a standard banking service over the next few years,” says Vickers.

Melanie Morris, President of the New Zealand Bookkeepers Association, says her members will be thrilled about this new innovation. "Our members can now do more for the many busy small business owners we serve. To have the ability to expand on our current service delivery using technology is always great.

“This will also save many businesses considerable hours per month, freeing them up to focus on being in front of their customers, not in the back room doing the books."

The service is now available to all Xero customers who use ASB’s FastNet Business multi-user online banking platform.

About Xero
Xero provides beautiful, easy to use online accounting software for small businesses and their advisors. The company has over 280,000 paying customers in more than 100 countries around the world and is listed on the NZX and ASX. For more infomation, see www.xero.com

About FastNet Business
FastNet Business is a multi-user banking system, designed for organisations that are too complex or too busy for ASB’s FastNet Classic online banking. It lets business owners and managers create any number of users, and assign appropriate levels of access and authority to keep control of their finances without having to do it all themselves. For more information, see www.asb.co.nz.

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Onetai Station: Overseas Investment Office Puts Ceol & Muir On Notice

The Overseas Investment Office (OIO) has issued a formal warning to Ceol & Muir and its owners, Argentinian brothers Rafael and Federico Grozovsky, for failing to provide complete and accurate information when they applied to buy Onetai Station in 2013. More>>

ALSO:

Tomorrow, The UN: Feds President Takes Reins At World Farming Body

Federated Farmers president Dr William Rolleston has been appointed acting president of the World Farmers’ Organisation (WFO) at a meeting in Geneva overnight. More>>

ALSO:

I Sing The Highway Electric: Charge Net NZ To Connect New Zealand

BMW is turning Middle Earth electric after today announcing a substantial contribution to the charging network Charge Net NZ. This landmark partnership will enable Kiwis to drive their electric vehicles (EVs) right across New Zealand through the installation of a fast charging highway stretching from Kaitaia to Invercargill. More>>

ALSO:

Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>

Earlier:

Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>

ALSO:

Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news