TORONTO, Oct. 12, 2017 /CNW/ - Royal Bank of Canada (RBC) and Wave (waveapps.com) have
collaborated to integrate invoicing, accounting and business
financial insights into RBC's online business banking platform.
This first-of-its-kind offering from a bank in North America will enable RBC's small business
clients to seamlessly manage their full business financial
services' needs — from banking and bookkeeping to invoicing — in a
single place with a single sign-on.
Wave is the producer of award-winning financial software and
services — including free invoicing, accounting, payment
processing, receipt scanning, reporting and more — for nearly 3
million registered businesses around the world.
Accessible through a small business owner's online banking site,
Wave's financial management suite, coupled with the power of RBC,
will revolutionize how small business owners manage their finances.
The simple, easy-to-use interface will give owners insights into
their business by combining their banking and accounting
information under one view, which will help them make more informed
decisions. In addition, business owners can leverage Wave's suite
of state-of-the art services, like invoicing in virtually any
currency, automated billing, and the ability to digitally manage
receipts and track expenses.
"We're always exploring how we can use emerging technologies to
simplify the complex issues our small business clients face and
help them achieve their goals," says Jason
Storsley, Vice-President of Small Business, RBC. "Small
businesses generally don't have dedicated accounting and billing
staff; it's typically the owner of the business who is managing the
finances, and completing these tasks takes up valuable time.
Working with Wave, we've created a unique platform where the
business owner's financial life is contained under one roof, making
it easier for them to manage their business. This means a small
business owner can spend more time being the CEO of their business
and less time being the CFO."
Launched to coincide with Small Business Month, the inclusion of
Wave's financial management suite is just one of the many offerings
for RBC's small business clients that goes beyond traditional
banking services. As the leader in commercial and small business
banking, serving the most clients with the broadest range of advice
and best-in-class products in Canada, this complements the specialized
service and tailored advice provided by RBC business banking
advisors.
"Entrepreneurs and small business owners have a range of
financial activities and tasks they need to accomplish. On a daily
basis, they're sending invoices, processing payments and doing
their bookkeeping." says Kirk
Simpson, CEO and co-founder of Wave. "By embedding Wave's
complete small business tools into RBC's online business banking
platform, small business owners now have one single destination to
manage their financial life."
About RBC
Royal Bank of Canada is Canada's largest bank, and one of the largest
banks in the world, based on market capitalization. We are one of
North America's leading
diversified financial services companies, and provide personal and
commercial banking, wealth management, insurance, investor services
and capital markets products and services on a global basis. We
have approximately 81,000 full- and part-time employees who serve
more than 16 million personal, business, public sector and
institutional clients through offices in Canada, the U.S. and 35 other countries. For
more information, please visit rbc.com.
RBC helps communities prosper, supporting a broad range of
community initiatives through donations, community investments and
employee volunteer activities. For more information please see:
http://www.rbc.com/community-sustainability/.
About Wave
Wave is changing the way small businesses
make money, spend money and track money. Wave delivers cloud-based
financial management software with seamlessly integrated financial
services to business owners around the world. Nearly 3 million
business owners around the world have used Wave to help manage
their finances, and 70,000 new businesses join the Wave ecosystem
every month. For more information, visit www.waveapps.com.
SOURCE RBC Royal Bank