FreshBooks chooses Salt Edge to bring digital makeover to accounting via open banking
FreshBooks, a leading accounting software available in over 160 countries, joined forces with Salt Edge, a pioneer in developing open banking solutions, to help their growing EU client base in managing business finance processes easier.
The accounting software market was valued at USD 12.01 billion in 2020 and is expected to reach USD 19.59 billion by 2026. Considering the current digitally advanced environment, open banking becomes a driving force for the accounting software market that is growing exponentially. Contemporary invoicing and accounting apps offer smart and cloud-based features to monitor and understand business finances, so choosing the right accounting software is crucial for smaller business owners or freelancers.
FreshBooks has helped more than 24 million people process billions of dollars through its easy-to-use invoicing, time-tracking, expense management, and online payments features. Using Salt Edge’s bank data aggregation service, FreshBooks can help business owners scale across Europe easier by saving them time and ensuring that their books are accurate and organised. Now FreshBooks’ business customers can connect their EU bank, credit accounts and have their financial data automatically imported straight into the software.
Salt Edge is PSD2 licensed and it covers all countries and many financial institutions in the EU. This collaboration allows us to continue servicing our customers in the EU. Working with companies in 100+ countries around the world, we’re always looking to help as many small business owners as we can. The biggest value the collaboration with Salt Edge creates is that by connecting their bank and credit accounts to FreshBooks, our customers save a substantial amount of time as their bank transactions are imported automatically without manual data entry.
As open banking spreads further into the financial services market for SMEs, tech-forward accounting platforms are taking advantage. Live bank feeds become the most important digital link for accounting and invoicing, ushering a new era in this market. We are excited to join hands with FreshBooks, having a similar vision for how cutting-edge open banking technology can be used to transform businesses and simplify key processes for clients, aiming to help millions of people worldwide to save countless hours prior wasted on billing and invoicing in spreadsheets.
About Salt Edge
Salt Edge – a financial API platform with PSD2 and open banking solutions. The company has two main vectors of activity: enabling third parties to get access to bank channels via a unified gateway, and developing the technology necessary for banks to become compliant with the directive’s requirements. ISO 27001 certified and AISP licensed under PSD2, the company employs the highest international security measures to ensure stable and reliable connections between financial institutions and their customers. The company is integrated with 5000+ financial institutions in 50+ countries.
FreshBooks is the #2 small business accounting software in America, with paying customers in 100+ countries around the world. The company has helped more than 24 million people process billions of dollars through its easy-to-use invoicing, time-tracking, expense management, and online payments features. Recognized with 10 Stevie awards for the best customer service in the world, the company’s mantra is to “execute extraordinary experiences everyday.” FreshBooks is headquartered in Toronto, Canada, with offices in San Luis Potosi, Mexico, Amsterdam, Netherlands, and Raleigh, North Carolina, USA. FreshBooks has been recognized for eight consecutive years as a Great Place to Work.
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