Tenet Fintech Group, the owner and operator of the Cubeler Business Hub, has joined forces with bookkeeping automation company Dext Software.
The collaboration aims to deliver Dext’s platform to Cubeler Business Hub members and their bookkeeping partners. This is expected to offer more value to small and medium-sized enterprises (SMEs).
Under the two-year agreement, Dext’s software will become part of the Cubeler Business Hub’s platform offerings.
This integration includes access to Dext’s advanced bookkeeping automation tools, such as its approvals, supplier statements, and mileage features.
The partnership will also grant Tenet Fintech a seat on Dext’s North American Partner Advisory Council, enabling the company to contribute to the evolution of Dext’s product portfolio.
Based in the UK, Dext claims to offer financial data extraction accuracy of 99.5%. It has been trained on more than one billion receipts and invoices.
The platform is said to seamlessly integrate with various accounting software, as well as over 11,500 banks, suppliers, and marketplaces globally.
Dext’s services are said to be leveraged by 12,000 accounting and bookkeeping firms as well as 700,000 businesses. It has reportedly saved bookkeepers over 35 million hours of manual data entry.
Dext North America general manager Rachel Fisch said: “The businesses that both Dext and Tenet serve are eager to leverage technology to drive innovation, efficiency, and growth.
“The availability of Dext’s platform as part of Cubeler’s Business Hub is a natural fit, enabling firms and businesses to gain real-time control over financial data and business insights.”
Tenet Fintech, through its subsidiaries, offers various analytics and artificial intelligence (AI)-based products and services to diverse stakeholders, including capital market professionals, financial institutions, government agencies, and SMEs.
Tenet Fintech chief operating officer Mayco Quiroz said: “The macroeconomic indicator indexes that we’ll be commercialising through our Tenoris3 subsidiary are based on data from the Business Hub.
“Those indexes will be far more valuable if they can show how the economy is evolving daily instead of providing monthly data. So, having timely and accurate data from the SME members of our Business Hub is an essential aspect of our business model.”
