For small businesses, paying suppliers or individuals often meant dealing with paper checks, multiple systems or bank portals, or spreadsheets.
Transcard reported in a press on Wednesday (10 August). publication that it now helps these businesses streamline the way they make and receive payments by integrating its SMART Hub payments portal with QuickBooks Online.
“Transcard is excited to offer QuickBooks Online users a seamless digital payment experience,” said Transcard CEO Gregory Bloh said in the statement.
This integration also provides automatic reconciliation of payments in QuickBooks Online, displays real-time payment insights and historical transaction details, and connects to each bank account for payouts and settlements as per version.
“Executing and receiving payments has traditionally been a tedious, manual process that only gets worse as a business grows, especially when it comes to checks,” Transcard president Chris Fuller said in the statement. “The integration of Transcard’s SMART Hub with QuickBooks Online offers small businesses a new way to streamline their operations, eliminate complexity and improve transparency.”
This new integration follows the June announcement that Transcard’s SMART Hub has been integrated with cloud-based financial management and services company Sage Intacct.
Continue reading: Transcard’s Smart Hub Payments partners with Sage Intacct
The SMART Hub itself launched in October 2021, with Transcard saying at the time that the platform could be embedded into any legacy software or ERP (enterprise resource planning) application.
Continue reading: Transcard introduces SMART Hub payment platform
Research by PYMNTS found that 42% of companies are in the process of overhauling their payment processes to expand or improve their relationships with suppliers.
Continue reading: 42% of companies say that better payment processes result in expanded supplier relationships
Most companies process B2B payments through a variety of methods, channels and tools, e.g. B. Paper checks, ACH payments (Automated Clearing House) or virtual cards, all of which are managed via separate accounting systems, but dealing with this type of fragmentation is becoming increasingly frustrating for companies, PYMNTS found.
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