Tie-ups between big banks and cloud accounting systems are increasingly common, like this one.
Last week Xero and NAB announced a major simplification of the process for connecting their common customers' bank and financial accounts, and now Saasu and Westpac (including St George Bank) say they are working closely together.
For some people, an important part of the Saasu/Westpac deal will be the availability of direct bank feeds. Most Saasu bank feeds are processed through US-based Yodlee (which does have a local office in Brisbane), and not everyone is comfortable with an intermediary being involved.
The direct feeds will be available "soon," giving real-time insight into cash flow, better cash flow forecasts, and fast and smooth bank reconciliations, according to Saasu.
Westpac business bankers and financial advisors will provide their clients with support for Saasu.
"By making it easy to combine banking data with the business tools available in Saasu accounting software, we save our business customers time and give them greater confidence to make informed decisions,” said Kalpana Gee, Westpac's head of business digital.
Westpac business customers not currently using Saasu will be offered a heavy discount if they adopt the cloud accounting system: 12 months for the price of three.