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Tech Lowdown

Tech Lowdown: Payroll, practice management and banking

22nd Aug 2019
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Welcome to our weekly round-up of the latest news and updates from the accounting tech world. 

This week, IRIS has announced its largest acquisition to date, Senta is adding new features to its software and Clear Books is offering free Open Banking feeds.  

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IRIS acquires FMP Global

IRIS has announced the acquisition of FMP Global, which provides payroll and HR services to international and UK-based small and medium-sized enterprises to 1,750 businesses in 135 countries.

The acquisition, which will close before the end of September 2019, is the largest by IRIS to date. “Bringing FMP into the Group is transformative, expanding IRIS’ footprint into the US and other international markets, while also further strengthening our position in the UK payroll and HR sectors,” said Kevin Dady, CEO of IRIS Software Group.

“Domestically we are seeing an increased demand for fully or partially outsourced payroll management solutions and internationally, we are seeing a growing payroll requirement for businesses of all sizes.”

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Senta upcoming features

Senta has announced it will be adding the following features to its practice management solution shortly:

  • New reporting and KPIs charts and visualisations
  • Improved client onboarding, including professional clearance, engagement letters and onscreen engagement
  • Client profitability tools to provide an overview of the clients who are the most profitable and to benchmark similar clients
  • Ability to choose which notifications to receive and to get them by email too
  • Possibility to add ad hoc tasks to jobs in progress
  • Practice inbox: view any incoming practice emails and triage them accordingly

See Senta’s August product update for more details on the new features.

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Clear Books offers free Open Banking feeds

Accounting software provider Clear Books has registered with the Financial Conduct Authority (FCA) to provide Open Banking feeds free with any subscription. The registration means that Clear Books users can connect as many Open Banking feeds to their accounting software as they wish, securely, and at no additional cost.

Open Banking feeds are required from 14 September 2019, replacing old screen scraping technologies with more secure data feeds between banks and information processors. Financial organisations that fail to meet FCA registration requirements will lose their ability to provide bank feeds to clients. 

“Open Banking seeks to ensure transactional information is passed securely between the banks and the financial software that businesses use every day,” said Clear Books’ CEO Ruth Fouracre. “By registering with the FCA, Clear Books will be able to continue providing vital bank transaction information automatically and free of charge to our users’ accounts.”

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By meadowsaw227
22nd Aug 2019 11:07

It is nice to know that all of us mere small accounts practices have over the years enabled the Iris crowd to move on to greater things/riches and now they ignore all 0f us people who have paid for it ! .

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