Information technology (IT) management solutions provider Kaseya, which targets managed service providers (MSPs) with its offerings, is linking up with small and medium-sized business (SMB) accounting firm Xero to help businesses gain greater control over their financial data.
The companies said Thursday (Feb. 1) that Xero and Kaseya's BMS will integrate to synchronize financial data between both applications. The business management solution (BMS) provides back-office services for MSPs to enhance automation. Integrating with Xero means the professional services automation (PSA) offering does not have to use a third party to sync up with data stored in Xero.
The firms also said the integration provides a “single source of truth” for financial information, including invoices, payment status, products procured and more.
The flow of integrated data goes both ways, meaning accounting teams using Xero can also access all the operational information they need from data sources like tickets, services and time tracking, among other common elements.
“Kaseya continues to innovate and thereby overcome the problems inherent in first-generation PSA solutions,” said Jim Lippie, Kaseya general manager of cloud computing, in a statement. “As the industry's only next-generation PSA, BMS empowers our customers to be more profitable and operationally efficient through easy-to-access data capture and analysis. Our latest partnership with Xero provides an added layer of financial intelligence that can be leveraged within BMS's single pane of glass. This powerful integration saves our MSPs countless hours of admin and back office time.”
Last November, Xero announced it would be delisting from the New Zealand Stock Exchange, a move which officially takes effect today (Feb. 2). The company described the move as an “extensive strategic process” to consolidate its shares on the Australia Stock Exchange (ASX) and “provide longer-term access to a broader marketplace for Xero shareholders.”
Its CEO, Rod Drury, also pointed to plans to focus on continued expansion across the U.K., North America and Southeast Asia.
“As Xero continues to grow, gaining enhanced access to deeper capital markets, increased liquidity and a broader base of potential investors is critical to fulfilling our ambition to be the leading global small business platform serving millions of customers,” Drury said in a disclosure to the ASX in November 2017.