This week’s news that Tradeshift, the business interactions and e-invoicing platform, has taken a ‘multi-million’ pound strategic investment from legacy accounting software maker Intuit is bound to have made others in the accounting software space sit up and take notice. One such player is the UK’s KashFlow who, in what could be perceived as a feisty move, has announced that it’s integrated with Tradeshift to enable SMBs who use its cloud-based accounting software to accept and issue e-invoices through the latter’s platform.
However, in a turn of events that adds a little colour to the story, we’re hearing from sources that KashFlow may have been blindsided somewhat by news of the Intuit deal, having spent months working directly with Tradeshift on integration with its platform with a planned co-marketing drive once it went live. That part of the arrangement now seems in doubt, and in what looks like a bid to move more quickly than Intuit’s competing QuickBooks, KashFlow has elected to roll out the new feature immediately, anyway.
Writing on the company blog, KashFlow CEO Duane Jackson explains how Tradeshift integration works:
The key word here is invoicing, i.e. it’s not accounting. Until today, if one of your big customers asked (or insists) that you start using Tradeshift to invoice them then you had to enter your invoices twice, once in your accounting package and again in Tradeshift. Meh.
We love automation, and we’re all about making the life of small business owners easier. That’s why I’m really pleased to announce that we’re now fully integrated with Tradeshift.
Create an invoice in KashFlow and submit it to your customer on Tradeshift in a single click. You can even see the status of the invoice right there in KashFlow, along with a link through to the relevant Tradeshift page to deal with any enquiries from the customer.
The integration works the other way, too. If a KashFlow user receives invoices via the Tradeshift platform a supplier record is created in KashFlow.
Showing a degree of humility, Jackson signs off the blog post congratulating Tradeshift on the Intuit deal, though he does note that KashFlow has beaten them to the punch with today’s new feature.
“So if you’re a Quickbooks user, you may get similar functionality in there too… eventually”, he writes.
KashFlow provides intuitive, easy to use accounting software for small business owners. Its focus is on automating repetitive accounting tasks and removing the jargon and complicated language associated with incumbent account software. The company offers an API and over forty add-ons in the areas of payroll, payroll processing, e-commerce systems, CRM and time and/or project management. As well as being the leader in user-friendly accounting software, KashFlow is a pioneer of the SaaS (software as a service) business model. They pride...
As a platform for all your business interactions, Tradeshift helps companies run more efficiently, harnessing the power of their network to create new value from old processes like invoicing, payments and workflow. For smaller companies, a free account with apps like e-invoicing can become a route to getting paid faster or even open doors like dynamic discounting. Meanwhile, Tradeshift Apps allow them to securely link in other key processes like online accounting in seconds. For enterprises that work with tens of...