Accounting is a field in which there are many processes based on data analysis and information contained in various documentation. Open Banking provides great opportunities for optimizing the activities of the accounting departments of companies, accounting software companies, accounting firms, online retailers and etc.
Open Banking helps by providing automatic access to information on bank accounts, optimizes processes, reduces costs and makes it possible to introduce and develop artificial intelligence in the business.
PRODUCTS AND BENEFITS
Open banking is beneficial for every type of accounting service provider:
an accounting firm that serves hundreds of small and medium-sized businesses;
finance department of a multinational corporation;
small business accountant.
Open banking tools can be used to optimize accounting processes at all levels by automating complex and repetitive tasks. IRIS Solutions gives accounting companies access to the benefits of open banking.
Using open banking, accounting firms get instant access to customer data from every bank in every country. Easy, convenient and safe. All data is ready to use because it is structured in a single format and the data does not need to be unified by conversion.
Transaction history data can be retrieved years ago with just one integration and a few clicks.
Salvation from the burden of countless spreadsheets.
"Pouring" all transactions directly into the accounting software greatly simplifies tax calculations by automatically adding and classifying data, regardless of the bank or account type. Manual filling of invoices can be easily automated with the help of open banking.
End of exhausting mapping of invoice payments.
Open banking allows for the payment of salaries, taxes and any other payments on invoices directly from the accounting software.
The functionality of the payment initiation service increases efficiency by automating payments with periodic plans for invoicing and payment of installments or group payments and packages for processing several transactions at once.
A real revolution in payments.
Reduce online fraud
Fully digital experience
No fees for unsuccessful and failed transactions