Story image

KPMG, CBA and Microsoft partner to simplify SMB business management

15 May 2018

KPMG Australia, the Commonwealth Bank of Australia (CBA) and Microsoft today announced the launch of Wiise, which will offer enterprise software to Australian small and medium businesses (SMEs) from July 2018.

The venture is the first time a professional services firm, a bank and a technology company have come together in Australia to start a fintech venture targeting SMEs.

CBA, KPMG and Microsoft have formed a strategic partnership to co-develop innovative solutions that support Australian businesses.

Wiise is a standalone company based at Stone & Chalk’s Sydney fintech hub.

Combining the business expertise and software development teams of the three partners, Wiise’s platform provides small and medium businesses with an end-to-end, integrated, cloud-based business management solution. 

Wiise will help SMEs digitally manage their business through an integrated cloud-based platform spanning accounting, payroll and banking, and operations including HR, inventory and manufacturing.

Wiise users will typically be struggling to keep pace with the needs of their growing business and as a result, are seeking a scalable cloud-based software that combines business management capabilities with online banking and payments, and integrates into other software, such as Microsoft Office 365. 

“The idea for Wiise was sparked by our acquisition of Microsoft systems implementer, Hands-On Systems,” says KPMG Australia markets and growth national managing partner James Hunter.

“It opened our eyes to a gap in the market between existing cloud accounting software providers to SMEs and enterprise-scale ERP solutions.

“By collaborating with market leaders, CBA and Microsoft, we have been able to develop a single platform at an affordable price to unite SMEs’ accounting, financial and business needs,” he says.

Wiise is targeting SMEs that see themselves as having more complex needs. 

Recent research of over 300 SMEs conducted for Wiise found that 78% of Australian SMEs view their business and operations as having either medium or high complexity.

This is often due to the technical nature of the services they provide and issues around compliance, tax and employee payments. 

Microsoft Australia managing director Steven Worrall says, “As businesses mature, they experience the inevitable ‘growing pains’ and complexity that come with growth.

"The technology solutions that served them well when they first started out are no longer fit for purpose and they just want a solution that makes their business simpler to run and faster to grow but without the complexity of deploying large, expensive ERP solutions.”

“With Wiise, we’ve brought together the strengths and expertise of CBA (banking), KPMG (business advisory) and Microsoft (technology platforms) to help tackle the mounting complexity that businesses face with a business management solution that can scale and grow as they do," he says.

CBA’s collaboration in Wiise directly tackles the complexity faced by small business.

Wiise provides seamless integration with CBA’s invoicing platform, CommBank Simplify, as well as banking data feeds - linking customers’ banking and accounting platforms together.

Users will also be able to inquire, and in some cases apply, for specialised business banking products directly through the platform.

How big data can revolutionise NZ’s hospitals
Miya Precision is being used across 17 wards and the emergency department at Palmerston North Hospital.
Time's up, tax dodgers: Multinational tech firms may soon pay their dues
Multinational tech and digital services firms may no longer have a free tax pass to operate in New Zealand. 
Spark’s new IoT network reaches 98% of New Zealand
Spark is the first company to confirm the nationwide completion of a Cat-M1 network in New Zealand.
WhatsApp users warned to change voicemail PINs
Attackers are allegedly gaining access to users’ WhatsApp accounts by using the default voicemail PIN to access voice authentication codes.
Robots to the fore – Key insights for New Zealand Business into RPA in 2019
From making artificial intelligence a business reality to closer ties to human colleagues, robotic process automation is gearing up for a strong 2019.
50 million tonnes of e-waste: IT faces sustainability challenges
“Through This is IT, we want to help people better understand the problem of today’s linear “take, make, dispose” thinking around IT products and its effects like e-waste, pollution and climate change."
Vocus & Vodafone unbundle NZ's fibre network
“Unbundling fibre will provide retail service providers with a flexible future-proofed platform regardless of what tomorrow brings."
IDC: A/NZ second highest APAC IoT spenders per capita
New IDC forecast expects the Internet of Things spending in Asia/Pacific excluding Japan to reach US$381.8 Billion by 2022.