The digitalization of Swiss companies forges ahead. Thanks to a collaboration between bexio and UBS, accounting software and e-banking can now be linked together. After just three months, approximately 1,000 users have already registered to the service. And a further joint fintech solution is already planned for summer 2016. With the support of UBS, bexio is offering their customers Paymit. That’s two premiers for a Swiss SME.
The offer of innovative digital financial services in Switzerland is impressive, as a study by the Institute for Financial Services in Zug confirms. The Swiss Fintech market looks bigger and livelier than is frequently perceived and it is well positioned for continued growth. Innovative startups like bexio are contributing to this positive result. Since the end of 2015, the software company from Rapperswil on Lake Zurich is pressing ahead with digitalization: the coupling of accounting software to e-banking.
Swiss Accounting Premiers for Small and Medium Businesses
Small and medium Swiss businesses are looking for Fintech solutions. A customer survey by bexio reveals that the manual reconciliation of incoming payments, as shown by the bank account with customer invoices, stands at the very top of the list of time-eaters at many small companies. Since the introduction of bexio, small enterprises all over Swierland send over 100’000 invoices a month through bexio’s accounting software, relieving them of the cumbersome process of manual invoice handling.
UBS customer profit from the collaboration between the banking giant and the start-up. The e-banking solution has been coupled with the accounting software. For UBS customers the painstaking and time-intensive reconciliation of debits and credits with credit notes and charges on the bank account is no longer required. In addition, payment orders can be transferred directly from the accounting software to the e-banking. This service will not remain UBS-exclusive for long – bexio will enable e-banking with other financial institutions as well, including Credit Suisse, Postfinance, Raiffeisen and Zürcher Kantonalbank.
Soon the Ability to Pay 100’000 Bills Remotely
bexio is working on more than just banking; the more than 100’000 bills sent out monthly through bexio’s accounting software also have to be paid. In order to speed up this process, bexio will, in coordination with UBS, offer Paymit as of summer 2016 — a Switzerland-wide premiere in the corporate sector. With Paymit, businesses using bexio can offer their customers the option to pay their bills with their smartphones. «Getting paid more quickly is one of the significant success factors for small businesses», says Jeremias Meier, co-founder and CEO of bexio who knows about this from experience.
bexio (www.bexio.com) is the leading provider of web-based business software for small enterprises, freelancers and startups in Switzerland. All data is stored exclusively in Swiss data centers. With bexio, companies can manage quotes, invoices, customer information as well as their financial accounts. Swiss banks bexio users can quickly and easily make payments and reconcile bank transactions with their accounting. bexio also connects accountants with their small business customers through online collaboration. During summer 2016 bexio integrates Paymit the mobile bill payment via smartphone.
bexio is headquartered in Rapperswil (Switzerland), has more than 5’000 customers and 40 employees.