London, UK, 25 November 2020: KashFlow, by IRIS Software Group, is today announcing it is working with leading enterprise connectivity platform Yapily. The partnership will enable KashFlow customers to gain real-time insight into their cash flow and provide them with a frictionless end-to-end bookkeeping service.
Running a small business is complicated, even before adding the effects of Covid-19 and Brexit into the mix. Business leaders need to be more flexible and adaptable than ever before. Not only enabling their staff to work flexibly, but also in terms of ensuring the critical, but often mundane, aspects of running a business are properly managed during these difficult times. The time for manual bookkeeping processes has gone.
Through partnering with Yapily, KashFlow customers can connect and extract account information all from within the KashFlow portal - providing them with one single source of truth about their business’ financial health. This removes the friction and inefficiencies involved with manual bookkeeping and provides customers with the insight they need to move forward with confidence into the year ahead.
Typically, bookkeeping has been a manual, tedious, but essential, task for business owners. The integration of Yapily’s open banking API enables KashFlow to improve its SME customers’ experience by removing the friction, which speeds up critical processes such as invoicing, reconciliation and payroll. With these critical, but historically complicated, tasks taken care of, business owners are free to focus on what they do best - growing their business.
JF Sullivan, Chief Product Officer for IRIS Software Group says, “By partnering with Yapily, our customers now have a far more efficient and secure way to manage their cash flow - which is of utmost importance in this current landscape of uncertainty.
“Yapily’s core infrastructure means KashFlow customers can now control their controllables with ease. Getting a single source of truth about their financial health so they know best how to prepare for what’s ahead. They can now move forward with confidence - and thrive - in the next normal.”
Stefano Vaccino, Chief Executive Officer for Yapily says, “Leveraging our technical expertise, we’ve been able to provide KashFlow’s customers - a large number of which are SMEs, critical to the UK economy’s recovery - with a better customer experience and crucial insight into their financial positions. Something that is needed now more than ever with the UK in a second national lockdown.
“Through partnering with KashFlow, we’re continuing our mission to expand the reach of open banking and bring its benefits to all small businesses. We believe open banking enables fairer and better financial services for everyone. We look forward to developing our partnership with KashFlow and IRIS Software Group to fuel greater financial accessibility for their customers.”
KashFlow, by IRIS Software Group, is an innovative online bookkeeping and payroll solution. It provides intuitive cloud-based accounting software for accountancy firms and SMEs, saving business owners both time and effort by letting them manage accounts anytime, anywhere.
The new collaboration further consolidates Yapily’s position as the backbone of open banking and the infrastructure that partners need to take advantage of its benefits.
About IRIS Software Group
IRIS Software Group is one of the UK’s largest privately held software companies. It exists to take the pain out of processes and let professionals working in businesses and schools focus on the work they love. IRIS provides software solutions and services for finance, HR and payroll teams, educational organisations, and accountancy firms that helps them comply with regulations, drive productivity and better engage with key stakeholders. Through simplifying, automating and providing insights on everyday mission-critical tasks for organisations of all shapes and sizes, IRIS ensures customers can look forward with certainty and confidence.
IRIS has over 120,000 UK and international customers with 80% having a tenure of five or more years. IRIS is the largest third-party online filer with the UK Government. Eighty-nine of the top 100 UK accountancy firms and 50 of the top 100 US CPA firms use IRIS software. Circa 20% of the UK’s workforce is paid by IRIS payroll offerings. More than 850,000 UK employees are managed by IRIS HR solutions. Over 11,000 UK schools and academies use IRIS, with four million parents and guardians using IRIS apps to connect with their children’s school; 300 million messages are delivered between schools and parents each year, and over £15 million transactional payments are processed every month. IRIS is placed in the Sunday Times PwC Top Track 250 and the Megabuyte50.
About Yapily (yapily.com)
Yapily is an enterprise API connectivity platform, allowing companies to share financial data and access payment infrastructure. Designed and built for Open Finance, Yapily enables fairer and better financial products for everyone.
The company has raised $18.4m in funding to date, and provides infrastructure for industry leaders including American Express, Intuit Quickbooks, Moneyfarm and BUX. Headquartered in London, UK, Yapily employs over 60 people and continues to scale rapidly.