Sage To Enhance SMB Accounting & Payroll With New Tie-ups

The age of digitalization and high-speed internet has made the process of payroll, accounting, cash flow management and other financial management processes much simpler.

Not just big companies but even small and medium-sized businesses (SMBs) can leverage the services to manage their finances.

At the same time, digital financial platforms find the need to innovate and offer their customers safe, secure and modern services. A move that requires them to collaborate with other industry leaders to streamline and simplify operations.

Keeping to this thought, Sage, the leader in accounting, financial, HR, and payroll technology for small and mid-sized businesses (SMBs), announced it has partnered with two financial institutions to enhance its offerings.

One includes a team-up with Stripe, a financial infrastructure platform for businesses, while the other consists of a collaboration with VoPay, a leading provider of embedded payment solutions.

So, let’s explore what Sage’s new partnerships will offer its customers and benefit the company! 
 

What Is The Sage And Stripe Partnership About?

 

• Through a news release published on its website, Sage announced that it has partnered with Stripe to improve its cashflow management and payment processing offerings for SMBs.

• The partnership will enable Sage to offer its customers with more options to pay and get paid quickly, which includes streamlined checkout and payment processing, Tap-to-Pay contactless payments and auto-reconciling bank transfers.

• It will also allow Sage to expand its payments ecosystem, providing its customers with enhanced services to manage cash flow.

• Overall, the extended partnership will bring benefits such as streamlined checkout and payment processing, multiple payment methods, a unified payments experience, a safe and secure payment experience and auto-reconciling bank transfers.

• Stripe’s integration into Sage is available to UK customers through Sage Accounting, Sage 50 and Sage 200, while also being fully integrated into Sage Network.

• The partnership adds to the broad range of payments and banking partners within Sage’s ecosystem. 

 

What Did Sage And Stripe Executives Say?

 

• Walid Abu-Hadba, Chief Product Officer, Sage, said, “This partnership signifies a shared vision between Sage and Stripe to transform how SMBs pay and get paid, helping our customers to simplify cashflow management.”

• “We are committed to harnessing the power of technology to drive innovation, enhance efficiency, and pave the way for growth.”

• Eileen O’Mara, Chief Revenue Officer at Stripe, said, “Sage understands the importance of innovating for its customers, and we’re thrilled to be part of its journey.

• [Contd.] “Stripe is building a suite of software-defined financial services to enable leading platforms like Sage to provide integrated features that make their customers’ lives easier.”

 

What Is The Sage And VoPay Partnership About?

 

• Through a press release, VoPay announced a tie-up with Sage, which will embed VoPay's advanced payment technology into Sage’s platform.

• The move will enable streamlined financial operations for SMBs through Direct Deposit.

• The partnership directly addresses a challenge faced by SMBs, which comes in the form of inefficient processes and includes using spreadsheets for payroll processing through manual and repetitive tasks.

• It will provide SMBs using Sage’s services with enhanced payroll functionalities such as direct deposit payments, self-serve portals and comprehensive reporting, reducing the use of paper cheques, cash or manual funds transfers.

• VoPay’s services through Sage will offer automated direct deposits, a self-serve employee portal and advanced reporting and reconciliation services, through seamless integrations, robust security and scalable solutions.

• “By integrating VoPay's payment technology, Sage's payroll system becomes more efficient, secure, and reliable.”

 

What Did Sage And VoPay Executives Say?

 

• Ceara Metcalf, Head of HR and Payroll Business Unit at Sage, said, “We’re thrilled to collaborate with VoPay to bring a new level of efficiency and automation to SMB customers.”

• [Contd.] “By integrating VoPay’s advanced payment technology into Sage Business Cloud Payroll, we are empowering SMBs to streamline their payroll processes and improve efficiency, allowing them to dedicate more resources to their core business activities and strategic growth initiatives.”

• Hamed Arbabi, Founder & CEO of VoPay said, “Through our collaboration with Sage, we are excited to introduce our robust embedded payment solutions to a wider array of small and medium-sized businesses, ensuring that payroll management becomes as efficient as possible.”

• [Contd.] “This partnership underscores our dedication to financial innovation and our vision of simplifying intricate payment processes for companies of all sizes. Expect ongoing advancements through our collaboration with Sage in the near future.”

Do you think this move by Sage will allow it to boost its customer base and gain a stronger position in the SMB fintech market? Do you think its competitors should make similar moves?

Let us know in the comments below!