For small businesses, paying suppliers or individuals has often meant dealing with paper checks, multiple systems or bank portals, or spreadsheets.
Transcard reported in a Wednesday (Aug. 10) press release that it now helps these businesses streamline the way they make and receive payments by integrating its SMART Hub payment portal with QuickBooks Online.
“Transcard is excited to provide QuickBooks Online users with a frictionless, digital payments experience,” Transcard CEO Greg Bloh said in the statement.
This integration also provides automatic reconciliation of payments in QuickBooks Online, displays real-time payments insights and historical transaction details, and connects to any bank account for disbursements and billings, per the release.
“Making and receiving payments has traditionally been a tedious, manual process that only gets worse as a company grows, especially when checks are involved,” Transcard President Chris Fuller said in the statement. “The integration of Transcard’s SMART Hub with QuickBooks Online offers small businesses a new option for streamlining their operations, eliminating complexity and improving visibility.”
This new integration follows the June announcement that Transcard’s SMART Hub was integrated with cloud-based financial management and services firm Sage Intacct.
Read more: Transcard’s SMART Hub Payments Collabs With Sage Intacct
The SMART Hub itself was launched in October 2021, with Transcard saying at the time that the platform can be embedded with any legacy software or enterprise resource planning (ERP) application.
Read more: Transcard Unveils SMART Hub Payments Platform
PYMNTS research has found that 42% of companies are moving to innovate their payment processes to expand or improve their relationships with suppliers.
Read more: 42% of Businesses Say Better Payment Processes Lead To Expand Vendor Relationships
Most organizations handle B2B payments through a variety of methods, channels and tools, such as paper checks, automated clearing house (ACH) payments or virtual cards, all managed through separate accounting systems, but dealing with this type of fragmentation is growing more frustrating for businesses, PYMNTS found.
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