Sage and Stripe have partnered to help improve cashflow management and payment processing for small- to medium-sized businesses (SMBs).
Stripe’s financial infrastructure platform for businesses will be integrated into Sage’s solutions for SMBs, providing Sage customers with more ways to pay and get paid, the companies said in a Thursday (July 25) press release.
The integration is currently available through Sage Accounting, Sage 50, Sage 100, Sage 200 and Sage Connect, though the availability varies by country, according to the release.
“We are committed to harnessing the power of technology to drive innovation, enhance efficiency and pave the way for growth,” Sage Chief Product Officer Walid Abu-Hadba said in the release.
One of the benefits of this partnership is that SMBs will be able to make it easier for their customers to review their accounts and pay by using Sage Connect’s customer account portal and Stripe Checkout, according to the release.
SMBs will also be able to accept multiple payment methods from customers, including digital wallets, cards and bank transfers, the release said.
They will also be able to collect payments online and in person without terminal hardware, provide a safe and secure payment experience that leverages Stripe’s security protocols and compliance with global financial regulations, and streamline the payment and reconciliation process with bank transfers, per the release.
“Sage understands the importance of innovating for its customers, and we’re thrilled to be part of its journey,” Eileen O’Mara, chief revenue officer at Stripe, said in the release. “Stripe is building a suite of software-defined financial services to enable leading platforms like Sage to provide integrated features that make their customers’ lives easier.”
In another collaboration, Sage teamed up with Amazon Web Services (AWS) in February to help SMBs optimize their operations with generative artificial intelligence (AI). In that partnership, Sage will use Amazon Bedrock and Amazon Lex to develop a domain-specific large language model (LLM) for accounting and compliance purposes.
In September, Sage partnered with Swoop, a FinTech company specializing in funding solutions, to provide business funding and cost-savings solutions. Together, the companies aim to provide SMBs and their trusted advisors with easy access to a wide range of funding activities.
