Odoo, which works in CRM and ERP, has selected financial application programming interface (API) platform Salt Edge to help it boost invoices and payments reconciliation.
Salt Edge works in letting third parties access bank channels with a unified gateway. Salt Edge’s service will provide Odoo instant access to banking data and will let businesses expedite the reconciliation of invoices and payments.
Read More: Odoo taps Salt Edge to accelerate invoices and payments reconciliation via open banking
Odoo, based in Belgium, works as an all-in-one business management and accounting software that can handle accounting, billing, ERP, CRM, e-commerce, inventory, point of sale, project management, manufacturing and more.
With Salt Edge Account Information, the company improves its bank synchronization in its accounting platform. Odoo can help Salt Edge retrieve bank transactions easily while also allowing for more transparent pictures of a company’s fiscal health.
“We needed to cover a large number of banks in a maximum of countries, quickly,” said Benjamin Stiénon, product owner at Odoo. “Salt Edge turned out to be our best choice as open banking partners; [t]hey have a qualitative and well-documented API, transparent communication, and a much-appreciated ability to simplify complex legal issues. Our goal is to integrate all business flows and keep them simple for our users. Salt Edge’s open banking solution helps us achieve it.”
“Open banking revolution is spreading across the financial services market, and accounting and business management are already reaping a rich harvest from it,” said Salt Edge Vice President of Sales Vasile Valcov. “Live bank feeds powered by open banking transform many accounting processes from physical to digital, boosting efficiency and reducing operational costs. Salt Edge’s main goal is to build a stable and secure infrastructure making integration with our solutions smooth and flawless. We are excited to join hands with Odoo, a user-friendly all-in-one business tool to automate the management of crucial business operations via open banking technology, thus helping more companies to grow their success.”
Valcov spoke with PYMNTS last year, saying that the ability to access banking information in real-time was important as a way to manage money better.
Related: Exploring The Future Use Cases Of Open Banking For Corporates
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