In the News - July 22, 2022

It is important to keep up with the news and updates that have the potential to affect you as an accounting professional. Here are some updates from xxx different software companies.

Acumatica, a rapidly expanding cloud ERP firm, is expanding its integration with Shopify to provide a new business-to-business (B2B) solution. The new solution expands on Acumatica's native Shopify connection, which enables retailers to manage their back-office operations within the Acumatica ERP system with Shopify's front-end solution. According to an Acumatica representative, retailers can manage their complete B2B omnichannel sales experience with Shopify's new solution without the need for manual data entry because it incorporates all crucial company data.

Airbase, a top-ranked spending management platform for mid-market and large businesses, announced it will receive $150 million in debt financing led by Goldman Sachs. This most recent round of fundraising, which ended this month, will enable Airbase to broaden its cutting-edge charge card service to its expanding user base. Spending cards are becoming more common as more businesses of all sizes want visibility and control over staff spending. 

FreshBooks, a leading cloud accounting platform, and SurePayroll, a leading provider of small business payroll and HR solutions, have introduced a system integration that enables users of both platforms to instantly synchronize payroll liabilities and expenses to their FreshBooks accounts. The application program interface (API), which automatically transmits general ledger information when payroll processing is finished, avoids manual entry, saves time, and improves accuracy.

Oracle NetSuite has announced both an enhancement and a new solution.

• The new solution is NetSuite Smart Count, which helps businesses streamline the often difficult inventory count process. NetSuite Smart Count automates inventory counts and enables them to be performed live without freezing transactions; Smart Count automatically alerts counters if there is any activity during the count so they may respond properly.
• The product upgrades to NetSuite Analytics Warehouse make it simpler for users to combine pertinent data sets and introduces built-in visualization capabilities. NetSuite Analytics Warehouse, which is based on Oracle Analytics Cloud and Oracle Autonomous Database for analytics and data warehousing (ADW), enables users to quickly identify trends in data from NetSuite and other sources and uncover new information. Customers now find it simpler to combine conventional NetSuite transactional data with custom data, historical data, and a wide range of third-party sources thanks to the new improvements. Additionally, users can now more easily examine important performance indicators, see trends, and discover new data correlations thanks to improvements to pre-built visualization capabilities.

Sage, an industry leader in accounting, finance, HR, and payroll software for small and medium-sized businesses (SMBs) has announced an expanded relationship with Microsoft. The news includes plans to embed services from Microsoft Business Products, such as Microsoft Teams and Office 365, in Sage products and the Sage Digital Network. Sage has already released its first Sage Active early version to a small group of customers in July. Built on Microsoft Azure, Sage Active is a brand-new, simple-to-configure, integrated business management solution. This new native cloud solution, which will be initially made available to customers in France, will then be made available in Spain and Germany. It is designed specifically to help SMBs manage compliance and operations while providing access to Azure's advantages.

Shopify and YouTube are partnering to provide merchants and content producers with a potent new channel for connecting with customers, expanding their brands, and telling their stories. In order to reach their customers and viewers where they are, businesses can now effortlessly link their online store with one of the biggest entertainment platforms in the world, YouTube Shopping on Shopify, which has a monthly user base of over 2 billion logged-in users. Shopify sellers have three options for selling their whole catalog on YouTube - live streams, videos, and store tabs.