Accounting, banking and technology set to converge, as providers aim to combat ‘app fatigue’ and give SMEs unprecedented visibility of their finances
On the 27th June, Hokodo assembled a group of fintech experts and thought leaders for the launch of our Blurring Lines report. Delving into the convergence of banking, accounting and technology, the report shines a light on the race to build an ‘SME Cockpit,’ exploring who, out of accounting platforms, neobanks and third party apps, will emerge as the go-to finance hub, and crucially, what these developments mean for real-life accountants.
Small businesses are the driving force behind the UK economy. Yet, when comparing their situation with large corporates, it still feels like an unfair battle. Small businesses don’t enjoy the same benefits or have access to the same tools as large corporates. This is particularly true when it comes to accessing financial services or being paid on time.
As the dust settles on Accountex 2019 which took place earlier this month, we wanted to share a few of our biggest highlights and pass along some of the key lessons from our second year attending the event.
First partnership between insurance firm and banking and accountancy company to deliver invoice-by-invoice income protection to UK SMEs
For decades, small businesses have been at a disadvantage compared with larger corporates, because they simply haven’t had the tools, expertise and resources to manage their financial performance effectively.
Data is the new gold, and forward-thinking businesses are in a race to become more data-centric. Even insurance companies are getting on board.
Most business owners can relate to the feeling of not knowing if their invoices are going to get paid. To address this problem, we are delighted to announce an exciting partnership with InvoiceInsure which brings a simple solution — single invoice insurance — to small businesses trading in the UK.
Without online tools and cloud-based resources we would have never built Hokodo in the timescale we did. So, in tribute to them, and to help any other aspiring insurtech and fintech entrepreneurs looking to do the same, we thought we’d share our top 10