PaySauce and Xero Launch Joint Rural Initiative
Wellington, NZ, 19 December 2019 - Cloud software providers PaySauce (NZX: PYS) and Xero (ASX: XRO) announce Xero For Farming, a solution for agri employers.
Xero and PaySauce have already completed a series of pilot workshops in rural regions, as a companion to Xero Roadshow 2019. Following the success of these pilots, the two SaaS platforms have established a strategic alliance to improve financial confidence and understanding within farming businesses. The Xero for Farming concept emerged in response to mounting regulatory pressure on rural employers to meet higher standards of compliance amidst tougher financial realities. The joint offering seeks to improve knowledge and resilience through transparent data delivery and proactive education, helping farmers become “bank ready” with a sharper understanding of their financial outlook.
PaySauce CEO Asantha Wijeyeratne says Xero for Farming is designed to meet the needs of rural New Zealanders. “We’re so excited about what we can achieve with Xero. We’ve been hearing that rural employers feel overwhelmed and under-supported in 2019, and we really believe in the potential of cloud technology to improve on that. We’re well-placed to take some of the pressure off, easing the compliance burden with the mobility and flexibility of a SaaS solution.”
The alliance will connect rural bankers, bookkeepers and business owners to achieve clarity and confidence around on-farm numbers. Cameron Anderson, Head of Agribusiness & Practice Strategy at Xero, says the goal is not just to deliver an industry-leader app stack, but to effect broader change for the farming sector. “Agri employers take on so many roles and navigate so many contrasting challenges. We’re keen to see a shift away from the concept of the lone farmer with their assorted tools and consultants, and towards a cohesive farming team working towards the same business goals.”
According to Jordan Hartley-Smith, Agri and Business Advisory Services Manager at Baker Tilly Staples Rodway Taranaki, an integrated Xero and PaySauce solution has proven to be a powerful tool for rural clients. “We see a lot of headwinds facing NZ farmers now… regular reporting, having a budget set and either meeting budget or having a coherent understanding of variances is more important than ever. Credit are wanting to see that level of business acumen shown in hard facts and figures. Providing that information to banks on a regular basis [through the app stack] gives them accurate visibility of your business and builds trust in you and your operation.”
PaySauce brings cloud-based compliance to business owners, helping them to pay and manage employees efficiently using web, iOS, and Android applications. The PaySauce platform includes mobile timesheets, payroll calculations, banking integration, PAYE filing, labour costing, automated general ledger entries and digital employment contracts. https://www.paysauce.com/