New software to solve SME pain points launched

Fintech start-up Wiise has this week launched its software specially designed to help growing SMEs solve their financial and operational pain points.

Created by KPMG Australia, built on Microsoft, and supported by Commonwealth Bank, Wiise is an end-to-end, integrated, cloud-based business management platform. It is specially designed to help solve the pain points of Australian SMEs.

Research of over 1000 SMEs conducted during the development of the product revealed three common pain points for SMEs – they are time poor, lack the data and insights needed to make critical business decisions, and are unable to see their complete cashflow.

John Munnelly, Wiise Executive Director, said, “For too long software has been a headache for Australia’s growing small and medium-sized business. We are hugely excited to be launching a new platform that gives them the scalable tools they need to grow. Wiise leverages the combined insight and skills of KPMG, Microsoft and CBA to create a truly unique product. Most importantly, Wiise has been designed to be simple to set up and cost effective, with a low entry price point that offers amazing capabilities at a fraction of the cost of traditional enterprise-level software.”

The various versions all offer accounting, finance management and reporting, basic inventory management, receivables and payables, auto-reconciliation, HR and payroll. The more advanced versions offer more complex functionality for larger or more complicated business through advanced additional operational modules like distribution and warehousing, service management, and manufacturing.

Wiise is a cloud-based platform that combines business management capabilities with online banking and payments, and integrates into other software, such as Microsoft Office 365. It connects with any bank account – linking customers’ banking and accounting platforms together, and also provides integration with CBA’s credit card payment platform, CommBank Simplify. Over the coming months, Wiise will be further improved and will launch industry-specific versions aimed at some of Australia’s key growth sectors including retail, manufacturing, agribusiness, distribution/logistics and healthcare.

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