Melio, a leading B2B payments platform for small businesses, has announced a new integration with the cloud-based accounting software platform Xero.
The integration will enable Melio to provide small business customers the ability to automatically sync their accounts payable and receivable data with Xero—saving valuable time on paying bills, making reconciliation easier and providing better visibility into upcoming payments.
“This two-way sync with Xero will help small business customers better understand how much money is going in and out of their accounts at a time when it is critical to keep a close eye on cash flow,” says Ilan Atias, Melio’s co-founder and Chief Technology Officer. “Moreover, this integration will help save customers time and simplify the bill-paying process while providing them with more visibility and control over their day-to-day finances.”
There are 33.2 million small businesses in the US, equivalent to 99.9% of all businesses in the nation. The integration will help these businesses spend less time on bookkeeping and more time growing their operations.
Small businesses’ bills, payments and invoice information will be automatically synced between the two platforms, saving time inputting information into separate accounts and removing the guesswork associated with matching payments with open invoices.
“Melio’s integration with Xero offers tremendous value to our accounting and bookkeeping partners and their small business clients,” says Carol Haverty, VP of Partnerships, Americas at Xero. “Melio and Xero have a shared vision of championing small business. We look forward to helping our customers streamline workflows and save time with this integration so they can focus on growing and running their business.”
Founded in 2018, Melio—with headquarters in New York and R&D in Tel Aviv, along with a western headquarters in Colorado—is transforming how money is moved between businesses.
The integration with Xero marks Melio’s fourth synchronization with a top accounting software provider, building upon the company’s record of partnering and integrating with financial institutions, software providers, and marketplaces.
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