A NEW solution has been launched to enable small and medium-sized enterprises (SMEs) collect money, make payments and reconcile effortlessly, through a single interface and account.
Sage Smart Money Movement, launched by Sage, the market leader for integrated accounting, payroll, and payment systems, simplifies collections and payments, reducing manual work for SMEs and giving more control over cash flow.
Sage Smart Money Movement is said to be a South African first in the way it offers SMEs the ability to track the movement of money from where a transaction originates in a desktop or online accounting or payroll application, to how that transaction is then executed and reconciled in the accounting system.
Anton van Heerden, Executive Vice-President and Managing Director, Sage South and Southern Africa, said over 250 000 SMEs in South Africa used Sage software to simplify, control and manage their business processes. While Sage Pay Managing Director, Charles Pittaway, said they turned collection, payment, and reconciliation into a smart, easy, and seamless for small businesses.
South Africa has an estimated 2,8 million SMEs, which contribute over 50p% of gross domestic product. SMEs also provide about 60% of jobs, and contribute more than 40% of the country’s total remuneration.