The recent partnerships and collaborations in the tech and finance industries highlight the growing importance of digital solutions in streamlining business processes and improving efficiency. These collaborations also showcase the integration of environmental sustainability and carbon accounting into accounting and financial management systems.
H2 Tech and Finance Partnerships Drive Digital Transformation and Sustainability
In recent news, several partnerships and collaborations have been announced in the tech and finance industries, aimed at driving digital transformation and promoting sustainability. These partnerships demonstrate the increasing reliance on digital solutions to streamline business processes and improve operational efficiency. They also highlight the integration of environmental sustainability and carbon accounting into accounting and financial management systems.
Tax solutions provider Vertex, Inc. announced a partnership with Pagero, a global network for the exchange of invoices and other business documents. This joint offering enables tax, finance, and IT departments to have direct access to data for CTC (Country-by-Country reporting), unlocks e-invoice clearance, enables real-time reporting, and provides Peppol access for electronic B2B and B2G compliant document and data exchange. By integrating these capabilities, businesses can enhance their tax compliance processes and improve data accuracy.
Accounting and payroll software provider IRIS Software Group (IRIS) has formed a strategic partnership with QuickFee, a leading payments solution provider for accounting firms. This partnership includes both QuickFee Connect and QuickFee Finance, offering e-invoicing and online payment options through integration with IRIS practice management solutions. Additionally, the partnership introduces a pay overtime option, allowing businesses to spread their payments over time. These integrated solutions simplify payment processes and improve cash flow management for accounting firms and their clients.
In the energy and utilities industry, Big Four firm KPMG is expanding its alliance with IBM to enable business transformations for clients implementing SAP S/4HANA. This collaboration leverages IBM Consulting and KPMG’s combined expertise in consulting, operations, tax, risk, and finance to automate and manage core business processes for optimal performance. By implementing SAP S/4HANA, energy and utilities companies can improve efficiency, reduce costs, and enhance their sustainability efforts.
Climate tech company Greenly, which offers carbon accounting solutions, has integrated with global small business platform Xero as a Xero App Partner. This integration allows Greenly to seamlessly integrate with clients’ accounting data, enabling businesses to track and manage their carbon emissions effectively. By incorporating carbon accounting into financial management systems, businesses can make informed decisions to reduce their environmental impact.
ReconArt, an account reconciliation and financial close management solution provider, has partnered with 3RP Group, an Oracle NetSuite consultancy group. This integration combines the entire reconciliation lifecycle into one tool, including data import, transformation and enrichment, matching and exception resolution, reporting and analytics, account certification at period end, task management, and journal entries back to the GL. This comprehensive solution improves accuracy, efficiency, and transparency in financial reconciliation processes.
Payment solutions provider Bill (formerly Bill.com) has introduced new purchase order automation for Intuit QuickBooks Desktop customers. This update allows SMBs and accountant customers to view purchase orders and match and pay invoices in one workspace. By streamlining the purchase order process, businesses can improve efficiency and reduce errors in their procurement processes.
Identity protection and fraud protection platform iDenfy has partnered with CocaBit, a Lithuania-based cryptocurrency exchange platform. The integration of iDenfy’s ID verification software helps limit CocaBit’s exposure to fraud and ensures compliance with regulatory obligations. This partnership enhances security and trust in cryptocurrency transactions, promoting the adoption of digital currencies in a secure and compliant manner.
These partnerships and collaborations in the tech and finance industries highlight the increasing reliance on digital solutions to drive efficiency, streamline processes, and promote sustainability. By integrating environmental sustainability and carbon accounting into accounting and financial management systems, businesses can make informed decisions to reduce their environmental impact. As the digital transformation continues to reshape industries, these collaborations pave the way for a more sustainable and efficient future.