B2B Payments

HostBooks Launches Mobile Accounting App For SMBs

HostBooks Launches SMB Mobile Accounting App

HostBooks Accounting Software Company has announced the launch of its mobile app to help small businesses with payroll integration and other services.

According to the press release, the app will work on bringing HostBooks’ programs up to speed with the company’s competitors.

HostBooks, a cloud-based alternative to traditional accounting, offers businesses services such as tax compliance, financial record keeping and reporting. Founder and President Kapil Rana said the intent was to blend the old styles of accounting with modern software. He said the company’s goal is to ensure that its services could be accessed at any place, anytime.

The press release lists numerous features and benefits offered by HostBooks, including automating up to 80 percent of a company’s work, reducing human error, increasing accuracy to enable better business decisions, enabling users to access their work on the go, boosting cash flow and streamlining tasks for ease of use.

HostBooks, based in San Francisco, launched its small business service in 2019, with an attempt to differentiate itself from competitors like QuickBooks and Xero by focusing more on automation.

Rana, a CPA himself, said expertise was what led him to try and solve issues commonly found in the industry. The HostBook team’s experience includes work at Intuit ProAdvisor and an unnamed accounting firm.

Although the market is a competitive one, companies routinely partner with other entities to increase or speed up their services.

The shift toward automation exemplified by HostBooks has spurred a debate about how the artificial intelligence (AI) expansion will affect workers in industries that use human labor. According to experts, the shift will require companies to start using humans as advisors and supervisors rather than for the work itself.



The pressure on banks to modernize their payments capabilities to support initiatives such as ISO 20022 and instant/real time payments has been exacerbated by the emergence of COVID-19 and the compelling need to quickly scale operations due to the rapid growth of contactless payments, and subsequent increase in digitization. Given this new normal, the need for agility and optimization across the payments processing value chain is imperative.