Entryless, a cloud-based financial network that allows small and medium-sized businesses to react more quickly to the needs of their buyers and suppliers, announced an integration with accountancy platform Sage Live. This integration will improve companies’ ability to pay bills and complete accounts seamlessly.
In a press release, Entryless said businesses using this integration will be able to send bills and purchase invoices in any format to Entryless, which will then be captured in image form by Entryless. They can then be audited and synchronized with accounting platform Sage Live, helping businesses to keep better track of their financial comings and goings. Bills are synchronized automatically, and suppliers can then be paid.
“This integration will help speed up the bill paying system for Sage Live customers and also make the connection between handling bills and managing company balance sheets more seamless,” said Entryless Founder and CEO Mike Galarza in the press release. “Businesses spend massive amounts of time manually entering and paying bills. Entryless makes electronic B2B payments faster, easier and more secure. Now, we have also taken the hassle out of synchronizing bills and payments.”
Entryless and Sage Live are part of the global FinTech market, which is a sector that is now worth $876 billion in value and has received more than $100 billion in funding worldwide. A recent report from accountancy firm PwC found that 20 percent of all traditional financial services businesses were at risk to FinTech companies moving in and taking their clients.
“At Entryless, our mission is to make business-to-business payments simpler and faster than B2C credit card payments are today. We are working towards a full network of businesses around the world that interact on Entryless to pay and get paid,” Galarza said.