Why business software integrations are essential for growth

No matter your business size, systems, tech, and software integrations are bound to play a big role. From accounting software and invoicing to CRM and video conferencing tools, we rely on many SaaS finance tools to get our jobs done, stay scalable, and promote transparency.

However, once companies have selected their different tools, it's common to implement them in silos and at different times. This gap can cause inefficiencies, lower productivity, and even create customer churn. In particular, this inefficiency can cause real headaches at many high-growth companies, as they often prioritize opening new markets over internal system integrations.

At Payhawk, we know how valuable your time is. We cover many financial business needs as an all-in-one finance tool, including payments and expense management. Our corporate Visa cards cards and expense management software allow finance teams to digitise all their company spend in a single solution.

Our solution also lets you give employees access to company funds easily. And helps your finance team reimburse and pay bills in no time. Plus, you can push all this information to your accounting software and ERP in just one click.

Payhawk’s business software integration can be used with popular accounting platforms

We understood early on that business software integrations would be vital for our clients. Accountants, by the way, are always the toughest people in the room when it comes to selling expense software. Why? Well, because we actually do a lot of their jobs. Though, we think this should be a positive thing. Thanks to us, they can focus on other essential finance tasks.

Our OCR tool reads the important information from receipts and invoices and reduces manual data entry in the system. In addition, our exports file — where all expense information is itemized and includes attachments of receipts — can be directly sent to your accounting software.

Real time information in Xero

Payhawk enables automatic Xero bank feeds as soon as you connect to Xero. Every incoming and outgoing transaction that happens on our tool is automatically exported to Xero when the payment is settled. Apart from being available in real-time, this practically eliminates the chance for human error since all payments will be automatically recorded, and your balances with Xero will always be synced.

Clever export in Datev and QuickBooks

Payhawk's Datev and QuickBooks business software integrations allow customers to reduce manual work. After extracting all relevant information from expenses  —thanks to next-generation accounting tools such as automatic expense categorisation, customisable expense fields, default tax rates, and dynamic supplier recognition  — these can automatically get pushed to the accounting software.

All of this is coupled with clever insights that tell the user whether they're missing some essential information before expenses are exported. Our customers have complete control over the data that gets pushed to their accounting software. We've also taken an extra step to prevent users from exporting the same expense twice or without any vitality for the tax consultant data. When an expense on our tool is reviewed, it will automatically appear on Datev or QuickBooks, without any extra work.

Payhawk integrations with ERPs

As businesses grow, their systems also get more sophisticated. ERPs started in the manufacturing industry but soon became a must-have in all sectors. Companies can manage employees, procurement, accounting, finances, inventory, etc., in a single platform.

Payhawk has direct integration with Microsoft Dynamics 365 Business Central. This ERP is suitable for SMEs, particularly organisations with up to 250 employees. It can operate across different departments and groups within the business entity and displays its overall performance. The tool's main capabilities focus on supply chain and finance operations, depending on the customer needs.

Companies can reconcile expenses made through Payhawk company cards with the ERP, giving customers complete control over all financial transactions.

Payhawk integration with TravelPerk

You may have heard that TravelPerk recently became a unicorn. You might think, how can a business travel software company achieve that amid a pandemic with travel restrictions? That's easy. They invested a lot in connecting their platform to travel-related services, and expense management is one of them.

Once enabled, the integration between Payhawk and TravelPerk facilitated the automated reconciliation of all TravelPerk expenses made using company cards from Payhawk. The integration fetches the invoices from TravelPerk and matches them to the card transactions. It also comes with the ability to recognise invoices with different VAT amounts and group them together. That way, it's easier to reclaim VAT on business trips and save up to 20% to your organisation.

What's next

At Payhawk, we take business software integrations very seriously. We have a dedicated team of engineers solely working on this topic. As the company grows and we get to talk to more and more prospects, we understand just how much they value integrations. That's why we're launching a NetSuite integration in April.

As the number of software for business solutions keeps growing, it's impossible to integrate with all of them. For that reason, and to support scalability, we'll soon be exposing our developer APIs so that customers can build their own custom connection to Payhawk.

If you're ready to integrate your company expenses with your accounting or ERP systems, book a demo with us, save valuable time, and focus on your company's growth.