Tech News: American Express launches new b2b payments ecosystem

Tech News: American Express launches B2B payments ecosystem

December 2, 2022 2:53 PM

American Express launches a B2B payments ecosystem; a new service uses artificial intelligence to fill out tax returns; AvidXchange now offers cross-border payments; an E&Y tool aims at upskilling workers; and other news and updates from the accounting tech world.

AI is filling out income tax returns

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AiTax announced the release of its new proprietary software, which uses artificial intelligence designed specifically to prepare income tax returns for business owners, self-employed individuals and entrepreneurs. The software runs extracted data through novel interpretations of the Internal Revenue Code to identify present and future tax planning strategies. AiTax uses a contingent fee method that guarantees a positive result, or the filing is free. Further, all filings come with free audit and legal defense at no additional cost.

American Express launches B2B payments ecosystem

Andrew Harrer/Bloomberg

American Express announced the launch of its new Amex Business Link, a business-to-business payments ecosystem. Network members gain access to digital onboarding of buyers and suppliers; lending solutions that give buyers and suppliers access to working capital; access to more commercial customers on the American Express network; and hands-on training, onboarding, and service for third-party issuers and acquirers providing Amex Business Link to their business customers. Buyers and sellers working with network members can manage payments and connect directly with other businesses; connect to ERP/CRM systems via APIs; use multiple payment methods including card, ACH, wire, check, etc.; and access reports that allow automatic reconciliation.

E&Y platform measures skill gaps

Simon Dawson/Bloomberg

Big Four firm E&Y announced the launch of a new platform, EY Skills Foundry, aimed at addressing the rapidly growing global skills gap. The platform uses artificial intelligence and machine learning technology to map the exact size and shape of an organization's skills gap. Its benchmarking and assessment engine enables businesses to compare their current skills supply against a global, cross-sector, skills benchmark, and to create a data-driven business case for learning. With this, organizations and employees can track and measure their progress, accelerating talent development and career progression.

AvidXchange offers cross-border payments

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Payment automation solutions provider

AvidXchange

announced that it now offers cross-border payment capacities, allowing U.S.-based customers to pay both domestic and international suppliers without leaving NetSuite. Payments can be made from a U.S. bank account, and currencies offered include the Australian and Canadian dollars, euros, English pounds, Indian rupees and Mexican pesos. The embedded payment experience will be available first to Oracle NetSuite customers and accessible in AvidXchange's newly launched SuiteApp within NetSuite's SuiteCloud platform.

A new CPA exam review company

Thumbnail for Video: The New CPA Exam: Breaking It Down

Those studying for the CPA exam can prepare for the test online with the newly launched Maxwell CPA Review. The Comprehensive CPA Exam Review Course includes more than 30 hours of video lectures, 1,300 practice questions and more than 240 pages of study outlines. The company also offers the option to purchase study materials for individual courses, including the FAR Exam Comprehensive Review Course, the REG Exam Comprehensive Review Course, the Audit Exam Comprehensive Review Course and the BEC Exam Comprehensive Review Course.

Awards and honors

Spend management solutions company Airbase said it has been named a Customer Leader in Spend Matters' most recent release of its AP Automation/Invoice-to-Pay (AP/I2P) SolutionMap benchmark report. … Wolters Kluwer Compliance Solutions announced it has won three awards in the 2022 International Business Awards program, including Best Artificial Intelligence/ Machine Learning Solution, Best GRC Solution and Best Cloud Application/SaaS Service. … Bloomberg Tax & Accounting today announced that senior product lead Akmal Nasimov has been named to CPA Practice Advisor's "20 Under 40 Top Influencers" list. … Paychex Inc., announced it has received the IDC 2022 SaaS Customer Service Satisfaction Award for Core HR. … IRIS Software Group announced it has been Great Place to Work-Ccertified for the third year running. 

Other news

Automated finance platform Rho announced the release of Custom Attributes as a new accounting reconciliation feature. The solution is integrated with NetSuite and QuickBooks, with plans for more in the future. … Ecologi, a climate tech startup, announced it is offering U.K. service-based small businesses access to a free carbon footprinting tool, available in the UK Xero App Store. … AI accounting platform Trullion announced that three new people have joined the company's leadership group: Martin Binau as vice president of sales; Rocky Brody as vice president of marketing; and Gil Marx as vice president of product. … CyVers, a provider of Web3 security for centralized, decentralized finance and smart contract applications, announced raising $8 million by Elron Ventures, joined by Crescendo Venture Partners, Differential Ventures, Cyber Club London, and HDI digital innovation. The funding will help enhance the company's ability to protect against fraudulent cryptocurrency purchases before they reach the ledger. … Cloud security company Fortanix said that Fortanix Data Security Manager now works with the AWS KMS External Key Store.