Australian accounting software company MYOB has signed an agreement with American Express that will extend the number of bank feeds available for small businesses and partners using MYOB.
The deal means, MYOB partners and clients who transact with American Express using a personal or small business card will have their transactions feed directly into MYOB’s cloud software and BankLink Practice.
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The facility will be available from first quarter of 2016. American Express will offer a paperless sign up process.
MYOB general manager of industry solutions Andrew Birch said: "This industry first integration with American Express, really solidifies our position as the accounting software provider with the best coverage of bank feeds. What this means is that we’re able to further reduce administration duties for SMEs and their accountants and offer business owners the flexibility to focus on doing what they know best, and what they love."
According to MYOB research, bank feeds – a service that automatically imports and matches financial transactions into cloud accounting software -saves business owners an average of 10 hours per month.
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