Tide and Sage join forces to streamline SME tax and accounting

By Megha Bhattacharya

Business financial platform Tide today announced a partnership with cloud business management solutions provider Sage with an aim to offer an integrated banking and accounting product for Tide members. The partnership will provide UK self-employed and business owners with a new product that combines banking and accounting in a single digital environment. By connecting banking data and Tide’s existing finance and admin tools to Sage’s accounting and compliance services, the FinTech’s members will be able to streamline financial and compliance processes, such as self-assessment and year-end accounts.

Oliver Prill, Tide CEO said, “Adding Tide Accounting to the Tide platform is a huge step towards our mission to make life easier for people who work for themselves, saving them time (and money) on their financial admin. Tide has chosen to work with Sage to deliver this product due to Sage’s long and impressive record in accounting and compliance and their strategic alignment with Tide. We share a similar customer base, and combining our expertise will bring the right technology solutions to small business owners at the right time.”

Tide stated that its partnership with Sage will offer a seamless accounting tool from the FinTech’s app, that will provide members with compliant accounts and insights about their businesses to reduce the time spent and stress of traditional accounting.

Neal Watkins, EVP of Small Business Segment at Sage said, “By partnering with Tide, we hope to encourage more people, who have so far only dreamt about being their own boss, to start a new business. Many entrepreneurs are held back from starting a new business by fears around getting their tax right, but with this new offering, accountancy and compliance will become a simple and seamless service, meaning that the business owner can sleep easy knowing that they’re getting their tax right.”