App Watch on Bill.com, Taxify and Oversight Systemsby
This week’s round up of accounting-related applications and service provider news is brought to you by new products and features from Bill.com, Taxify and Oversight Systems.
Before we return to our regularly scheduled program, a brief reminder of what this column is all about: We’re not out to break any news, offer a deep dive review or even a ranking of any product or service. Instead, App Watch is about keeping you informed of the past week’s goings on in the application world and where we offer an opinion or two about what the news means – or could mean – to you, the practitioner. Cool? OK, here we go….
News: Bill.com Mobile App Has New AR Features
Business payments service provider Bill.com has made additions to its iOS mobile app that focus on accounts receivable and underscores efforts to help accounting firms and their clients get paid more quickly. The latest edition of the Bill.com iOS mobile app includes a receivables dashboard, so that when accountants log in they now have the option to view and managing multiple accounts and access all clients’ accounts receivable activities; the ability to access a list of clients’ outstanding invoices and when an invoice was last sent; and a feature allowing accountants and their business clients to send email reminders to their customers via the app. The Bill.com mobile app and its new features, optimized for iPhone, iPad and iPod Touch, can be downloaded in the iOS app store.
Views: Knowing the company as long as I have, these features speak to the core of where Bill.com wants to go as a service provider, that being the most convenient way businesses can make and receive payments and accountants can track that activity or participate in the process as well. The convenience factor here being mobility and A/R being a core function of Bill.com these enhancements are a bit of an obvious move. Since functions like keeping tabs on payments or having the ability to do so from wherever you are don’t involve much in the way of heavy lifting, it’s no wonder they lend themselves so well to mobile apps. And, as with any mobile app you can be sure that Android functionality is not far behind.
News: Taxify Launches Sales Tax Compliance App for Xero
Sales tax automation software maker Taxify, now has an application for Xero to automate sales tax compliance and accounting for Xero users in all 12,000 U.S. sales tax jurisdictions. The application is specifically tailored for small businesses and includes automated filing in every U.S. sales tax jurisdiction; full reconciliation of tax payments and tracking of sales tax liabilities; support for multi-channel sales models, allowing businesses to easily control the flow of transactions from a variety of third party applications within Xero; and the ability to allow transactions to automatically flow from Xero’s software platform into Taxify. Any transactions in Xero will automatically appear in Taxify, though users can select and omit specific transaction sources to avoid duplicate transactions.
Views: First off, good for Xero…better for Taxify, which is looking to get a leg up in the sales tax compliance arena. If you’ve been paying attention, Xero has been expanding its tax offerings of late, with this one being through partnership. I had mentioned a while back the importance in the cloud application world of third-party partnerships and true integration...you know, the kind that actually works and isn’t just another convoluted step to take in an already arduous process. Not having tried the product I can’t speak to its functionality but again, if either of these companies is going to grow in importance to accountants and the businesses they serve, unions like these need to happen and more often.
News: Oversight Offers Intelligent Case Assignment Capability
Oversight Systems, an operational expense analysis company, has released a new Intelligent Case Assignment capability that ensures line of business managers responsible for expense control and transaction monitoring efficiently address risk and financial anomalies. As financial anomalies or group of anomalies are discovered, they are assigned to a case which is then tracked and managed through a state-of-the-art resolution process. Intelligent Case Assignment allocates the highest risk cases to each team member according to their time capacity. If a team member has ten hours available to remediate anomalies they will be assigned ten hours’ worth of the most important. In addition, because of the value of doing employee-centric case review in T&E and P-Card, once a team member is assigned a case from a given traveler/card holder, that team member will be assigned all of the open cases associated with that same employee.
Views: On first pass, you may say "that’s nice, but what do I really need this for?" Sure, financial monitoring, risk analysis may not be an “out of the bag” must have for many small firms, but given the general trend of accounting being more than just compliance and number keeping, tools such as those being offered by companies like Oversight are going to become more common in the market. Moreover, I would go out on a short limb to say they’ll become more commonplace in the work of an accountant. This case assignment feature seems a nice addition for any firm that is in the business of going beyond the numbers for their clients. Is it a game changer? Probably not, but again if you are already in this mode for your clients or looking to be, it seems a decent feature to have.
That’s all for now. As ever, feel free to offer your thoughts or additional insight below or in our Blog or Any Answers areas. Until next week!