Salt Edge and Sorted team up to boost accounting tasks for freelancers

By Megha Bhattacharya

Germany-based accounting app Sorted has selected open banking solutions provider Salt Edge in a bid to gain instant access to banking data, thus making its accounting processes more efficient. Sorted’s accounting app helps freelancers with their taxes and enables them to reduce their accounting expenses.

“Proper financial management is a crucial point for every freelancer’s business. And we are certain that when everything gets synced, accounting doesn’t make one break out into a cold sweat anymore, but may actually become enjoyable. Assisting our customers to improve their accounting experience is very important to us and the partnership with Salt Edge will help to optimise financial routine. Getting access to real-time banking data and obtaining all the transactions structured well in a pragmatic and visual way, help us to offer the best service for self-employed professionals and freelancers anywhere and at any time,” said Tom Raz, Co-Founder of Sorted.

According to Salt Edge, Sorted will leverage its Partner Program and connect to the customers’ bank account to retrieve the business transactions in a clear and categorised format and use them to automatically create the accounting records. The accounting platform will also be able to connect to major German banks via one platform.

“Living in the current uncertain conditions, it is truly important to build services that are useful and bring value to freelancers, being, in some ways, underserved members of the labour market. That is why it is crucial to introduce valuable data-driven digital services that today’s customers expect and create decent conditions for people who want to build a career in the freelancing field. Here at Salt Edge, we are excited to team up with Sorted, holding similar views to create something worthful and significant together,” said Vasile Valcov, VP at Salt Edge.

Recently, UK-based alternative lender ThinCats partnered with Salt Edge with an aim to boost the efficiency of its upfront credit assessment and ongoing loan monitoring processes. The collaboration is expected to enable ThinCats to build up its Open Banking dataset for supporting customers through earlier identification of changing circumstances or additional funding needs. Data aggregation will help ThinCats to integrate real-time information in its credit decisioning and portfolio monitoring.