Tech News: Xero's App Launcher

February 28, 2022 10:41 AM

The online accounting software provider offers an easier way to access apps; the AICPA releases new crypto asset guidance; a new ESG reporting platform; the latest accounting software company funding rounds; and other technology news.

Xero’s new App Launcher

Xero announced a new App Launcher that allows those using the platform to access connected apps through a dropdown tab in their My Xero dashboard. Users will also be able to open the Xero app store from the new launcher. Globally, 3 million subscribers will be able to access the App Launcher, the first update to Xero's store since it was released in August 2021.

AICPA releases new crypto asset guidance

The American Institute of CPAs updated its guidance for accounting and auditing digital assets. The non-authoritative guidance offers resources regarding identifying and evaluating derivatives and embedded derivatives in contracts; accounting for loaned crypto assets; accounting for borrowed crypto assets; accounting for transaction fees and block rewards earned through mining efforts; and how to treat participation in a mining pool account.

Workiva and Persefoni partner on ESG reporting platform

Cloud-based reporting platform Workiva and climate management and accounting platform Persefoni announced a joint product that enables users to convert their financial, operational and supply chain data into certified carbon footprint data. The joint platform will provide information on things like activity data, carbon footprint calculations, climate trajectory models, secondary data sets, and operational, financial and supply-chain data. It will also offer access to carbon benchmarking and a carbon offsets marketplace. Joint users will be able to compare data across multiple ESG frameworks and report them to stakeholders.

Accountants moving in, moving up

Cloud-based ERP developer Acumatica has named John Case as its new CEO; the previous CEO, Jon Roskill, will transition into an advisory role at private equity firm EQT Partners, which Acumatica acquired in 2019. … Lease accounting software company LeaseCrunch announced the appointment of Mike Cook as its vice president of business development. He will be responsible for business development operations and working with customers, partners and CPA firms. … LeaseQuery, an accounting software firm, announced the appointment of Joe Gruca as chief revenue officer, the promotion of Joe Schab to president and chief operating officer, and the promotion of Chris Ramsey to chief strategy officer and Karen Marchione to chief marketing officer. … DataRails, a financial planning and analysis platform for Excel users, announced the hiring of David Rosenberg as vice president of customer success, succeeding Tal Goori, who has been appointed vice president of strategy. … Cloud-based payments and accounts receivable provider Versapay announced the appointment of Ward Schultz as chief financial officer, Nancy Sansom as chief marketing officer and Alex Hoffman as executive vice president of payments. … IRIS Software Group, a business solutions software company, announced the appointment of Jim Dunham as president and general manager, Americas. He will be responsible for strategic leadership across IRIS North America. … TaxBit, which provides tax and accounting software for digital assets, will bring on Nathan Jones as senior vice president and general manager, worldwide public sector sales and government affairs; Miles Fuller as head of government solutions; and Christi Muoneke as corporate general counsel.

New integrations

Tax compliance automation software firm Avalara announced 20 newly certified integrations with accounting, ERP, e-commerce, point of sale, mobile commerce and CRM software applications. … Tax technology company Vertex said its Indirect Tax Chain Flow Accelerator is now certified by SAP for integration with SAP S/4HANA. … Ledgible, a tax and accounting platform for crypto assets, announced native integration with WalletConnect, an open standard protocol to connect crypto wallets to decentralized applications. … Dooap, an accounts payable software provider, announced it has integrated its product with a tax compliance solution from Vertex.

Funding rounds

Practice management software firm Karbon raised $66 million in Series B investment capital, in a round led by Tidemark and including existing investor Five Elms. … Financial automation platform Trullion closed on $15 million in Series A funding, co-led by Aleph and Third Point Ventures. … Tax software startup Taxfyle announced $20 million in Series B funding to keep up with the spike in remote work in the pandemic’s wake.

More news

FYIsoft, a reporting, analysis and planning platform, announced a technological partnership with UiPath, an enterprise automation software firm. … Accounting technology firm BaCo Tech announced it is now changing its name and branding to “Once Accounting Technologies.” … Coupa Software, a business spending management company, formally launched Coupa Travel and Expense, which offers personalized itineraries, real-time price tracking, a “spend coach,” health and safety message options, live agent assistance and travel discounts. … Accounts payable automation software firm MineralTree added three new features to its product: copy coding, credit application and expense allocation. … Bookkeeping automation and document management company The Neat Company will be partnering with scanning technology firm Raven to help small-business customers digitize their documents. … Esker, a business process automation firm, announced a partnership with accounts payable automation provider Corpay, to expand its offerings to payment automation, commercial card, virtual card, cross-border payments and travel and expense cards. … Crypto asset tax and accounting platform Ledgible said users will now be able to report proof of stake awards either the traditional way or a way that accounts for the possible consequences of recent federal litigation between the IRS and the Proof of Stake Alliance. … Corpay One will soon be offering the Corpay Mastercard, which will be fully integrated with its already existing bill pay platform. … Almost three-quarters (73%) of CFOs and finance execs plan to invest in systems to automate revenue recognition, according to a new survey by BillingPlatform.