Odoo taps Salt Edge to accelerate invoices and payments reconciliation via open banking
Odoo, one of the biggest CRM and ERP systems, teamed up with Salt Edge, leader in developing open banking solutions, to get instant access to banking data and enable businesses to reconcile invoices and payments as quickly as possible.
The modern accounting and BFM software market is growing exponentially, and to remain competitive, companies should embrace innovative technologies and widen their service propositions. Open banking becomes a divining-rod merging tech-savvy with resource-saving solutions to streamline critical business processes.
Odoo is a Belgium-based all-in-one business management and accounting software that covers all forward-thinking company needs: accounting, billing, ERP, CRM, e-commerce, inventory, point of sale, project management, manufacturing, and much more. Using Salt Edge Account Information, the company levels up the bank synchronisation in their accounting platform. Now Odoo enables its users to retrieve bank transactions from across European banks effortlessly. It helps businesses to have a true picture of their company financials in real-time, thus saving time and gaining efficiency in all subsequent operational processes.
We needed to cover a large number of banks in a maximum of countries, quickly. Salt Edge turned out to be our best choice as open banking partners; They have a qualitative and well-documented API, transparent communication, and a much-appreciated ability to simplify complex legal issues. Our goal is to integrate all business flows and keep them simple for our users. Salt Edge’s open banking solution helps us achieve it.
Teaming up with Salt Edge, Odoo will better serve its growing customer base of over 5 million users and 50,000+ companies and offer borderless service by getting access to more than 2,500 financial institutions in Europe.
Open banking revolution is spreading across the financial services market, and accounting and business management are already reaping a rich harvest from it. Live bank feeds powered by open banking transform many accounting processes from physical to digital, boosting efficiency and reducing operational costs. Salt Edge’s main goal is to build stable and secure infrastructure making integration with our solutions smooth and flawless. We are excited to join hands with Odoo, a user-friendly all-in-one business tool to automate the management of crucial business operations via open banking technology, thus helping more companies to grow their success.
Odoo is an open-source suite of integrated business applications actively programmed, supported, and organized by Odoo SA. Odoo is similar to many open-source projects where customized programming, support, and other services are provided by an active global community and partners network. The community is comprised of more than 1,500 active members and has contributed more than 4,500 modules to the ongoing enrichment of Odoo. The network of certified partners, established in more than 120 countries, deploys the solution locally. The software, with more than 1,500 downloads a day, is one of the most frequently installed business suites worldwide.
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.
Salt Edge report
Discover what is the current state of open banking payments in Europe in 2021