Mini Release: November 2011

We have completed another update to Saasu. Included are some changes listed below. We were also under the hood working on some highly requested features you have asked for via feedback.saasu.com. You will see these arrive in December and January. Last nights changes include:

Inventory Item History Report
The Inventory Item History Report now has additional information and filters that will help you better understand your margins, average costs and cost of goods numbers. It includes:

  • reporting of average cost
  • reporting of margins
  • gross profit margin for your entire sales
  • the ability to export to spreadsheet/CSV
  • the ability to filter by transaction type

Merchant Fees
Saasu has improved the handling of reconciling against fee items. If you have not nominated an account to record Merchant Fees against, Saasu will prompt you to do so in your bank account setup.

Fast Coding
The new Pending Transactions feature in Bank Feeds we released two weeks ago has been well received. Your Fast Coding screen in Bank Feeds now also displays pending transactions as read-only (greyed out). If Bank Rules are set up and applied to your transactions, Pending Transactions are excluded from this.

Pending Transactions

In this latest release of Saasu we are handling Pending transactions in our Automated Bank Feeds differently. We used to display Pending transactions and let you reconcile them. If the data changed significantly we had a rule built into Saasu to un-reconcile the transaction automatically. This would ensure you re-reconcile the transaction to confirm it is correct.

With hindsight we have found allowing our customers to reconcile Pending transactions to be more problematic than helpful. Accordingly, in our release last week we changed Pending transactions to be Read-only until Yodlee, our bank feed provider, updates them as finalised.

You can elect to view (but not reconcile) Pending transactions as an option on each Bank Feed you use in Saasu. By default this feature is OFF. You can turn this ON by going to View > Bank Account > Click on the Bank Account name to open it in edit mode > Tick the option Include Pending Transactions > Save the screen.

Release: September 2011

You may have noticed that we have been a bit quiet on major features. Well we have some big things brewing and the fruits of our effort will be seen in early October. However, last night’s release was about some significant engineering improvements and some highly requested features.

Not Getting Bank Data Fast Enough? Pending Transactions Now Supported
We have been feeling the frustrations that some of you have had due to the delay in getting finalised bank transactions via the Bank Feed. The reason was a number of banks had both a pending and finalised status of each transaction. The bank feed was only accessing the finalised transactions in order to remove the chance of duplicated transactions. We now have a way that will access the pending transactions in the next bank feed refresh and prevent duplications.

Payrun Matching in Bank Feeds Now Supported
If you use Pay Runs in Saasu and you’re not using our Bulk EFT file for processing payments, and instead paying your employees one at a time, you can now match these bank feeds transactions against your Pay Run.

More Banks Added to Bank Statement Importing
The new bank formats now available for bank statement importing include ME Bank (AU), Select Credit Union (AU), Berrima District Credit Union (AU), Southern Cross Building Society (NZ).

Remittances, LinkedIn and Bank Feed updates

We have been busy building some highly requested features from all the great feedback you have given us. Remember to vote for your features or give us a call/email and we’ll add a vote for you.

Remittances and Receipts

Remittances and Receipt Templates have been the highest requested enhancement through the service desk. They are now live and ready to help you get even more efficient in your business.

If you navigate to the Payment associated with your Purchase you will see you have new print options at the top of the screen. We have also provided a Receipt template for your Sales (which in essence is the opposite to a Remittance). If you are paying multiple invoices for a supplier Saasu will list all the related invoices and payment amounts in a single Remittance. Find out how to create a remittance in our help system

remittance

LinkedIn ID’s

Many of you have said you love how we store Skype names, Twitter ID’s and other Social Network data. However, you said “we need LinkedIn!”. So we have added it to the Contact Screen with an easy click and go link to navigate to the profile.

linked in field in Saasu

Bank Feed enhancements

We have been working on enhancements to our Bank Feeds area. This release allows you to:

  1. Match foreign currency Sales/Purchase payments against local currency amounts in your bank account. We nicely handle the FX conversion for you.
  2. By popular request we’ve changed the sort order of the bank feed to be newest to oldest.
  3. Next update will give you the ability to match Pay Runs in bulk against the single bulk payment amounts in your Bank Feed data.

Fast Cash Coding

Today Saasu has released a Fast Coding view in our Automated Bank Feeds area. Fast Coding enables you to quickly categorise your transactions to their appropriate income, expense and other accounts as cash journals. It’s perfect for micro and small businesses cash bookkeeping. If you have your GST/VAT codes assigned to your chart of accounts then you simply type the account code, hit enter and repeat until done for each transaction. Saasu lets you store these categorisation rules as a Bank Rule so that you can bulk process automatically next time you need to code transactions.

To use this feature simply choose Automate > Bank Feeds > More > Fast Code View

We spent a lot of time getting this to a minimal amount of keystrokes. It’s incredibly simple and ensures you keep your hands on the keyboard and off the mouse. This is important for speed, accessibility and simplicity. Sometimes systems get too cute with shortcuts that end up being longcuts and heavy amounts of mousing around. That’s not us. Keep it simple.

Bank Feeds Release Delay

We were planning to release the first round of access to Saasu’s new bank feeds feature last night but we have decided to delay until January after new years.

We have set ourselves high quality assurance and usability benchmarks and in our self assessment we don’t think we are there yet. We have thousands of very keen customers wanting access so this isn’t something we want to do but it is the right thing to do.

So we decided to be the ant and not the grasshopper. We’ll spend a few more weeks getting it just right and in January when everyone is back fresh from a break you’ll see the new Saasu.

Bank Feeds Preview

We are about to release our bank feeds preview next week. I’ll be in New Zealand with Acclipse on a roadshow to give the industry a good look at our approach. I’m very excited about it as we are doing something quite special and ahead of the curve.

bank feed sneek peek

Our competitors have taken a bank feed approach whose idea came from a company I have a lot of respect for called Banklink. It’s an excellent method for Micro Business data creation and coding. It has a major catch though which it’s usefulness as a company grows and needs real time billings (often inventory based) and capture of payables for cashflow monitoring. Our approach is a leap ahead.

What is this difference? We believe Bank Feeds are only one piece of the picture we need as businesses have many real time sources of data that are more useful than bank data (which is a day or more old). As an example eBay and Trade Me traders have inventory based transaction and drop shipping automation requirements. We can manage most of their automation requirements by pulling data feeds directly from these systems. We were the first to launch a Trade Me connector only last week. We are talking about the basics here like sending a detailed invoice in realtime, not creating it a day or two later from a bank feed which only has limited information. That said, bank feeds are great for Micro Business and we will be announcing a Micro Business product available from your Saasu Accountant with bank feeds.

Data Feeds is how we are looking at this space. Bank feeds are a subset of Data feeds.

Merchant gateway transactions, ecommerce website data, transaction feeds from PayPal and shopping sites like eBay and Trade Me are very useful streams of real time data. It’s a much bigger picture we are addressing. Some will be direct connections built by us and some will be via data brokers like OneSaaS, Boomi, Yodlee and others which we won’t disclose just yet (I let the cat out of the bag too early once before).

People often ask us why we left building bank feeds for so long. Well the answer is simple. Sometimes in business it’s better to let others go first. Particularly if you have an approach you don’t want to them to know about. The second reason is we were more focused on Small Business, who haven’t been demanding the bank feed feature as much, it is typically a Micro Business or Sole Trader type feature request. Small businesses tend to create invoices and send them rather than create them from a bank feed. They also enter purchases they haven’t paid so they can get a feeling for their future cash position rather than finding out how much cash they have after they pay their bills. Bank feeds don’t give them a future cash position.

So now we are about to close out another point of difference and provide an offering for Micro and Small businesses. Most importantly at the right price. We have built Saasu methodically and efficiently over 10 years so that the price is right for clients.

We will be issuing a formal press release soon providing complete details including pricing. If you registered to be a beta tester you will be sent an email when your file is ready to try out the new preview release. We hope you enjoy it.

Asia’s Rise

Asia shouldn’t be underestimated, it is growing so quickly that it will rival the power balance the West holds in this very generation. In this revealing video from TED India Hans Rosling depicts Asia’s Rise.

There is clearly a rise of infographics going on in the web. Just like meta data gives us information about data (data about data), infographics enhance what would otherwise be very vanilla looking graphs. Infographics appeal to humans because we are visual creatures.

In his video’s on GapMinder or TED you can see other examples of how Hans adds a new dimension of time to create dynamic infographics. The result is that he can get the data across in ways that static words and numbers can’t.

Creating customer attention

In Alvin Toffler’s world of information overload, our businesses have a constant struggle with diminishing attention offered by customers. To tackle this the creation of a per customer communications profile can help. The metaphor is a pre-nuptial. It specifies how your relationship will exist between your business and your customers. How you create this communications profile can vary from a social unwritten contract like a retailer has with their customer or it might be more explicit like a form your customer fills in to specify when and what correspondence they want to receive from your business.

Every piece of communication you send to your customer demands their time. There is an equation that roughly says the more you demand then the less attention the customer will probably give your demands. If you annoy them too much, they stop listening and reading. So logically you can attribute a cost to each piece of communication. This attention economy is all about treating this attention like a commodity. Every single email, letter or phone call is an exchange of value. If you are selling something and not giving anything then you are spending a large piece of the attention dollar the customer affords you. If you give education then it is lower. If you solve a problem or save their time then you will probably be adding to the attention piggy bank you have with that customer. They will want more.

So you can design this relationship so both you get more attention and the customer gets more value. If you can monitor customer behavior and reaction so as to understand how they would like to relate to your business rather than how much, then you can grow the attention piggy bank. The customer will give you more time because you have created a bespoke or targeted approach to their communication needs, to solving their problems or giving them the actual information they want rather than fire the 12 gauge information shot gun at them. The catch is that this costs time or else money to automate it.

There are many approaches to move to a communications profile model and some very interesting business models are springing up to help businesses achieve this. Companies like Datarati are dealing with medium enterprise in this area using bleeding edge technologies like Marketo. It’s a data driven approach that at the end of the day will have a robustness above the implied or gut feel approach that most business owners currently rely on. Other simple things that can be done by small business are forms that asks customers what they want from your business when they become a customer. Many inexpensive email systems now have features built in to give you insight into customer behaviour so you can provide them with just what they want and when they want it without even asking them.

This is all about the customer deciding rather than the business. Put the customer first, then the business and sales will follow. Listen and watch their behaviour or ask them what they want rather then serve up an overload of communications and information.

All business will be done this way in the future so it really is just about how fast you get there.

Photo by See-ming Lee

Web 3.0 Data Generation

Ever wondered what Web3.0 is shaping up to be? There are two things generally agreed in the technology industry. It’s not clear and it’s complex.

The following presentation on this topic is from my talk at CeBIT Webciety this year. The topic was What web Web3.0 will look like. This is all about the "Data" and the "Data Generation". Concepts such as the Semantic Web, Data-on-Data and more recently the Datarati have evolved in recent years to deal with the concepts.

If you are interested in the data area and how to use your business data to influence your business then Will Scully-Power’s blog is a great read. Previously of MarkSydney (part of the M&C Saatchi Group) he is seeding a new business in the data space.

We generally upload our presentations to Slideshare. See ~ Saasu | Marc Lehmann | Peter Cooper