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Sensibill, the customer data platform that “enriches” SKU-level data for the financial services sector, and FreeAgent, a provider of cloud accounting software for SMBs and accountants, will be supporting over 110,000 business clients to “better manage their business expenses.”
As mentioned in a release, the companies will help small businesses and accountants with automating and organizing their finances, accounting, and taxes.
As noted in the announcement, FreeAgent recognized their business clients required a simple, user-friendly alternative to manual-based administrative activities, like receipt management. These businesses needed more automation, enabling them to “spend more time running their businesses instead of managing the back-end operations.”
This partnership “removes two common pain points: 1) reconciling receipts with statements continues to be time-consuming for businesses; and 2) manually organizing and filing receipts requires too much effort,” the announcement revealed.
As stated in the release:
“Understanding the problems small businesses face in day-to-day expense management and receipt tracking, the two companies partnered to offer a more comprehensive solution. Leveraging Sensibill’s technology within the FreeAgent solution in a new feature called Auto Extract, small businesses can capture, organize, and categorize their receipts, attaching them to corresponding bank transactions.”
This ultimately makes receipts a lot easier to find and reference. By extracting data from receipts, Sensibill and FreeAgent are “reducing errors from manual entries, providing greater visibility and accuracy behind purchases while helping alleviate the stress of tax season,” the announcement explained.
Roan Lavery, CEO and Co-founder of FreeAgent, noted that automation is “at the center of our business, which is why partnering with Sensibill was a natural choice.”
He added that through this partnership – which powers their Auto Extract feature – they intend to increase customer satisfaction and engagement, “while making the lives of our small business customers and accountant partners much easier.” He also mentioned that it is “great to be working alongside Sensibill to help businesses get back to pursuing their passions – without all of the administrative hassles.”
Danny Piangerelli, CTO at Sensibill, remarked:
“By joining forces with FreeAgent, we’re eliminating the time and money businesses have traditionally spent manually entering data into clunky and cumbersome spreadsheets and systems. Instead, we’re delivering item-level details that enable faster, better expense management. Our combined technologies make it possible for these businesses and accountants to take care of their business, anywhere and anytime. Together, we are arming small businesses with the right tools to run their businesses with more efficiency, speed, and accuracy – something that has never been more important than in the current climate.”
As noted in the release, FreeAgent offers Cloud accounting software “specifically designed to meet the needs of small businesses, contractors, freelancers and their accountants.” Over 110,000 UK businesses use FreeAgent “to manage their business finances.”
FreeAgent aims to empower company owners to “look after much of the day-to-day bookkeeping admin, which means accountants can spend more time delivering valuable services such as providing tax or business advice.”
In 2018, FreeAgent was “acquired by the NatWest Group where it is run as an operationally independent entity,” the update confirmed.
As mentioned in the announcement, Sensibill is “the only customer data platform that enriches SKU-level data specifically for the financial services industry.” The AI-enhanced platform “combines ethically sourced first party data with real-time, actionable insights, helping financial institutions drive personalization at scale while creating compelling digital experiences for their customers.”
Over 60 million users across more than 150 financial institutions in North America and the U.K. “leverage Sensibill’s platform today.”
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