Norwegian Tech & Accounting team up to release Intelligent Accounting Services

Oslo, Norway, October 2020

Intelligent Accounting

Intelligent Accounting is a new service for accountants that fully automates sales, refunds and settlement to accounting while also offering control and insights through reconillication and Business Intelligence.

All industries that delivers sales and customer payments are set to benefit, mainly sports & leisure, retail-wholesale and hospitality. 

Intelligent Accounting is made possible by Linked2 - a norwegian iPaaS service which already serves millions of financial transactions daily and is now "linked to" the popular sales and payment systems like Vipps, Klarna, Nets etc moving sales and payment data into cloud accounting systems making use of data for both integration and analysis.

Designed by Accountants for Accountants

TheVit AS were involved in designing the solution bringing experience and demand from their own clients. Quality and control was forefront in the design.

The result is a whitelabelled service any accountant can provide their clients that reduces ineffective hours moving data while at the same time empowering accountant with reconcilliation control and valuable business insights to provide Norwegian business with daily operational control and provide competeitve edge via Key performance indicators.

Intelligent Accounting provides complete audit trail control by providing a reference to the source sale or transaction, syncronising sales with settlement from all sources managed and controlled through one dashboard. Intelligent Accounting will highlight all accounting issues - you no longer need to find them.

By combining industry rich sales data from its source in combination with accounting provides the information necessary to drive industry specific KPIs to boost Norwegian commerce with a competetive edge.

Norwegian financial integrations with Norwegian solutions developed for Norwegian businesses - A Norway First emphasis.

Key Benefits

  • Extra payment gateways bringing your customers new ways to pay.
  • Time spent processing orders to accounts can be spent on real business analysis.
  • Business Intelligence reporting for your sales channels and product range.
  • Accounts oversight reports.
  • Accounts always up to date.
  • POS and online check outs single solution.
  • Unified easy access to your data from your sales, settlement and accounts.
  • GDPR Compliant with all data stored in Norway
  • Norwegian financial integrations with Norwegian solutions developed for Norwegian businesses  - A Norway First emphasis.
  • Simple to match to your Chart of Accounts and customer accounts.
  • Simple to configure transactions to be grouped or detailed depending on your business requirements.

Background

With a packed market place of payment facilitators combined with multiple sales points on phone apps, ecommerce and POS the amount of systems and choices quickly turn accountants days in to data administrators, moving data in and out of systems and running to keep control.

Covid 19 highlighted an increase in requirements for new payment methods. Companys quickly moved to adapt to payments from for phone facilitators like Vipps to keep purchase hands free.

“In April, the proportion of contactless transactions increased by as much as 27 per cent compared with March, the share of contactless payments with BankAxept is now at 64 per cent.” - Vipps CEO

"The demand for automation meeting information suddenly appeared right in front of us" - explains Micael - head of BI from TheVit .." there was a demand for adding new contactless payment services, while on the other hand we needed more data to understand the impact on different areas of payments and commerce - connecting the systems data also helped us provide fast quality control - we needed a strong technology platform that could centralise data feeds for accounting and sales into a cloud accounting and datawarehouse"

"the solution will benefit commerce throughout Norway"

Accounting iPaaS

"We partnered with Linked2.io a Nordic iPaaS with focus on accounting who not only provided us with the link between the data..but also provided a whitelabelled distribution service, meaning any accountant office could make use of the new services as their own, so the solution will benefit commerce throughout Norway not only TheVits customers"

Key advantages identified by TheVit Business Intelligence team

The key advantages of this service lies in combining all data source and making smart links to BI reports. By linking purchase with settlement with accounts through to a datawarehouse we automate data flow and provide crucial accounting control - on demand. The exciting part of the service is we are able to identify what could be critical business KPIs to give a competetive edge.

"Accounting services are changing - intelligent data feeds can now provide competetive advantages for Nordic business through data driven business decisions" Erik Brustad , CEO - Linked2 AS"

"The concepts we are building will give Norwegian commerce a lift at a difficult time. We encourage new safe purchase methods like Vipps and make the adaption easy for any business, we reduce unecessary manual hours and empower accountants with business intelligence to provide their clients with new industry insights while centralising and cutting costs for data integration." - Sven Helge CTO, TheVit

We are seeing some key benefits of cloud SaaS​ towards commerce- CEO Poweroffice

This new service designed by accountants for accountants is made possible first with Poweroffice Go, Norways most popular accounting software owned by Visma.

"We are seeing some key benefits of cloud SaaS - its a first for Business Intelligence; allowing key industry KPIs ready and connected from multiple sources available at affordable prices." -CEO PowerOffice continues :

"Our PowerOffice API team have done a great job to open communications to other systems and Intelligent Accounting is a shining example of Nowegian tech and accounting cooperating to provide a commerce advantage to Norwegian companys."

Credits and references

TheVit AS - contact Micael
Accounting Business Intelligence

Linked2.io - contact Andy Smith
Accounting iPaaS

Vipps - contact xxx
Leader in contactless payment systems

Poweroffice.no
Norways most popular cloud accounting platform

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