Xero integrates with UOB to benefit Singapore SMEs
By Digital News Asia August 4, 2016
- UOB is the first bank integrate with Xero in Asia
- SMEs can connect their bank account and Xero subscription
XERO has announced integration that would allow small businesses to connect their UOB bank accounts to their Xero subscription.
In a statement, Xero Asia managing director Alex Campbell said that UOB is the first bank to integrate with the company in Asia.
These banking integrations have been invaluable to over 700,000 subscribers around the world, he claimed.
With this integration, small business customers which bank with UOB will be able to integrate their bank accounts with Xero and choose to have their bank transactions sent automatically from UOB to Xero every day through a secure connection.
This allows small businesses to manage their cashflow from within Xero, allowing them to check which customers have paid their bills overnight, and which bills from suppliers they need to pay. This will save small businesses the time and inconvenience of having to manually download statements and import them into their Xero subscription, the company said.
“As the cost of business increases and competition becomes more intense, productivity enhancements have become a priority for small businesses to achieve sustainable growth," said UOB country head of Business Banking Singapore Mervyn Koh.
"Through an integration with Xero, UOB’s customers will be the first in the market to harness the efficiency of Xero’s latest productivity software to help them save time, cut costs, and make better use of their resources," he added.
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