Airwallex and Onlineone's new NetSuite bank feed integration simplifies reconciliation of business expenses

MELBOURNE, Australia, May 12, 2022 /PRNewswire/ -- Building on its growing suite of accounting integrations, global fintech Airwallex announces a new bank feed integration with leading accounting software NetSuite, developed in partnership with Onlineone, a NetSuite Solution Partner.

From today, Airwallex's customers in Australia, Hong Kong, EMEA and the US will be able to automatically synchronise transactions in their NetSuite accounts for the latest view of their financial position in a single platform. By eliminating the need for manual data entry, customers can enjoy easier, faster and more accurate reconciliation of business expenses.

"We're excited to extend our integration partnerships to include NetSuite. By offering our customers the added convenience of automatically synchronising their Airwallex transactions to NetSuite, they stand to benefit from time savings and reduced risks associated with manual errors, allowing businesses to manage their finances more efficiently." said Gajia Parsons, VP, Head of Product Partnerships at Airwallex.

"Being customers of Airwallex ourselves, and using Airwallex's APIs, we saw the perfect opportunity to build innovative solutions on top of NetSuite," said Craig Traub, Chief Operating Officer at Onlineone.

Earlier this year, Airwallex successfully trialled the integration with a group of businesses before today's launch. Matthew Jie, a financial controller at Devcos International, an Australian brand development firm and one of the businesses that took part in the trial, said that the integration has helped them overcome challenges with manual payment reconciliation.

"We have been using the Airwallex bank feed in our NetSuite account for the past few months. It has saved us a significant amount of time on the daily manual uploads, and allows the team to perform bank reconciliation at any time in NetSuite without the worry of whether the transactions match up with our bank statements. This is absolutely a great feature for improving efficiency," said Matthew.

This latest integration follows a string of other major partnerships that Airwallex has inked with some of the biggest brands in the world. Earlier this year, the company announced that it has been selected by Qantas Loyalty to power its new and upcoming financial services offering, Qantas Business Money. More recently, Airwallex partnered with UK-based investment app Plum to support the launch of its new US investing product.

About Airwallex

Airwallex is a global payments platform with a mission to empower businesses of all sizes to grow without borders, and by doing so, contribute to the global economy. With technology at its core, Airwallex has built a financial infrastructure and platform to help businesses manage online payments, treasury and payout globally, without the constraints of the traditional financial system. Airwallex has raised over US$800 million since it was established in 2015, and is backed by world-leading investors. Today, the business operates with a team of over 1,000 employees across 19 locations globally.

For more information www.airwallex.com.

About Onlineone

Onlineone is an Oracle NetSuite Solution Partner of some twenty years' experience with a goal of using NetSuite to help our customers' business flourish. We provide solutions for medium sized businesses that address the accounting and ERP needs via NetSuite throughout the whole buying journey leading to a successful project outcome. We are based in Melbourne, Australia with a presence throughout Australia & Asia Pacific.

For more information www.onlineone.com.au/airwallex