Zoho partners with Yodlee for auto bank feed upload
04 April 2012 | 3512 views | 0
Helping people work online, Zoho today announced its online accounting software, Zoho Books, now supports automatic bank feeds.
The new feature automatically retrieves transactions from users' bank and credit card accounts and imports them into Zoho Books effortlessly, thereby reducing data entry considerably.
Zoho will be demonstrating Zoho Books and the new automatic bank feed feature at Zoholics 2012, the company's user conference being held today in San Francisco at the Hilton San Francisco Airport Bayfront.
"Our goal with Zoho Books is to make it the must-have accounting software for every SMB"
"Our goal with Zoho Books is to make it the must-have accounting software for every SMB," said Raju Vegesna, Zoho evangelist. "That means making Zoho Books powerful yet easy to use, so they can effectively track their business financials without wasting time and effort. The new automatic bank feeds feature reinforces that efficiency and effectiveness by reducing the burden placed on the user.
Zoho Books Automates Data Entry
Zoho Books simplifies accounting for small and medium-size businesses. It is a powerful tool for managing their money and provides complete visibility of their finances. Among its many features, Zoho Books lets users record, monitor and reconcile their bank and credit card account transactions.
Previously, users had to manually enter the account and transaction information in Zoho Books. To improve the speed and accuracy of this process, Zoho integrated with Yodlee, a digital financial management provider, to establish the automatic bank feeds in Zoho Books. Now, Zoho Books automatically downloads bank and credit card transactions, and users simply match the downloaded transactions and accept or reject them for inclusion in their reports.
Highlights of the new automatic bank feeds feature include:
Bank rules - To reduce further manual intervention, users can set up bank rules to automatically process data based on specific criteria.
Data security - Zoho Books uses 256-bit SSL encryption to secure communications between users' computers and th and the Zoho server.
Broad industry support - Zoho Books supports automatic bank feeds from several thousands of banks and credit card companies.
Joe Polverari, chief marketing and strategy officer at Yodlee, Inc., said, "By taking advantage of our developer tools, Zoho has just multiplied the value proposition of Zoho Books. Users are going to see more accurate information, more quickly because Yodlee is working behind the scenes to bring their account information into the Zoho Books UI. This is particularly powerful for SMBs who don't have the luxury of a dedicated accounting department yet still need to stay informed on their company's financial performance."
Pricing and Availability
Zoho Books featuring automatic bank feeds is available immediately. Users can sign up for a free 30-day trial and evaluate the software for their accounting needs. The monthly subscription charge for two users is $24, and yearly subscribers get a two-month discount. Additional users can be invited in Zoho Books for $5 per user, per month.
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