Provider of cloud-based business software Deskera partners with Salt Edge, leader in offering open banking solutions, to automate financial data aggregation for its SME customers.

In Singapore, business digitalisation is supported on the national level through various initiatives like SMEs Go Digital programme and the Automation Support Package (ASP). Deskera is a SaaS company, based in Singapore, that helps small and medium businesses with digital transformation by providing them with accounting, CRM, payroll, inventory, taxes and financial documentation support. These solutions are now available with one-click banking and easy reconciliation thanks to the collaboration with Salt Edge.

Somesh Misra, Vice President at Deskera said: "The last few months have been challenging for businesses, especially small and medium enterprises across the globe. They are in a transformative phase with evolved financial needs. Going digital is the key to the success of these companies. Deskera has been committed to bringing technology to their businesses and helping them grow. Our collaboration with Salt Edge will allow Deskera users to connect with hundreds of banks in an instant, which means our small business customers will spend less time on tasks like reconciling their banking transactions and can focus on their business and increase productivity. This partnership makes the entire process a lot easier, productive and safer for SMEs."

Salt Edge API enables aggregation of data from over 5000 financial institutions in 50+ countries to offer financial situation overview for businesses and their end-users alike. Instead of manually entering information or uploading CSV files, bank data becomes instantly available to Deskera’s SME customers for digitising their daily business needs from invoices, orders, bills and receipts to inventory and tax-related calculations. By connecting to 21 financial institutions in Singapore, Salt Edge API provides Deskera’s clients with their transaction history in a clean and easy-to-understand format. Transactions can be aggregated from all types of data sources, including e-wallets, banks, and crypto-wallets.

Vladimir Pintea, Head of Open Banking at Salt Edge said: "Digital transformation means that keeping finances in order and tracking them is much easier, as businesses can access all their accounts in one click. At Salt Edge, we are glad that we can help Deskera bring the benefits of open banking to its customers in 8 countries, simplifying internal processes and helping businesses thrive. We hope that our partnership with Deskera and our other Singaporian clients will continue evolving into more open banking exploration for the Asian market."