BizTechnologies is rolling out a new version of its small business accounting platform with added enhancements and integrations.
In an announcement on Friday (March 1), the company said it is rolling out BizSight365, a solution that improves upon the company's BizSight SMB accounting portal. The tool integrates inventory and expense management, invoicing and manufacturing to provide deeper insight into business operations with a focus on user experience.
The solution, launched in the U.S., U.K., South America, Australia and New Zealand, operates on Microsoft Azure. According to BizTechnologies, more than 90 percent of existing BizSight customers migrated to the solution from the now retired Microsoft Office Accounting solution as a result of the tool's MOA migration support.
BizSight 365 enhancements include support for desktop, laptop and tablet, and can support small businesses with one or multiple employees. There are also features to customize invoices and support customer service and sales, the company noted.
The small business accounting technology space is becoming increasingly crowded. In January, HostBooks debuted its own SMB accounting solution with a focus on automation and the experience of CPAs. Last month, ScaleFactor announced the rollout of its Android small business accounting app, an addition to its existing iOS app to support small businesses' mobile needs.
While FinTech players introduce new SMB accounting solutions, one member of the traditional financial services space, KPMG, is pulling out of the market – at least in the U.K. The accountancy and consulting firm said in February it would close its U.K. small business accounting unit and connect existing users to other solution providers.
Small business accounting experts in the U.S. are facing new challenges as a result of tax reform. Last year, the American Institute of Certified Public Accountants urged policymakers to clarify the impact on the Tax Cuts and Jobs Act on small businesses, encouraging the Internal Revenue Service and Treasury Department to act on eight recommendations.