Sage has announced a partnership with business financial platform Tide to offer an integrated banking and accounting product for Tide members.
The platform will provide both business owners and the self-employed with a combined banking and accounting service, supporting those taking the initial entrepreneurial steps.
The addition of Sage’s accounting and compliance as a service platform (ACaaS) to Tide’s existing finance and admin offering is intended to streamline financial and tax compliance processes.
Neal Watkins, EVP of small business segment at Sage, said: “By partnering with Tide, we hope to encourage more people, who have so far only dreamt about being their own boss, to start a new business.
“With this new offering, accountancy and compliance will become a simple and seamless service, meaning that the business owner can sleep easy knowing that they’re getting their tax right and making well-informed decisions.”
The collaboration will be trialled with Tide’s 340,000 members later this year, and will support business owners with upcoming legislation such as Making Tax Digital.
Oliver Prill, CEO at Tide, said that “adding an accountancy offering” to the group’s services is a “huge step towards” its aim to facilitate easier financial administration for business owners.
He added: “Tide has chosen to work with Sage to deliver this product due to Sage’s long and impressive record in accounting and compliance and their strategic alignment with Tide.
“We share a similar customer base, and combining our expertise will bring the right technology solutions to small business owners at the right time.”