Does your business need an effective online software accounting package which has handy features?
Saasu is something that you might be looking for as an online retailer.
Saasu has been known for working as a cloud accounting software in Australia. A husband and wife Marc and Emma founded the company in the year 2000.
In the same year, QuickBooks Online was launched in the US by Intuit. Marc saw the opportunity when he was working in Deutsche Bank as a Vice- President and principal trader. He noticed that bank’s transition to online trading and heaps of receipts were lying on the desks of the traders. He recognized the need for an online accounting system that can save a huge amount of time.
Fast- forward 15 years, Saasu became the most lucrative online accounting software company in Australia. Its customer base was estimated to be around 20000 businesses.
Regardless of this success, Saasu had to bear critical comparisons with Xero’s rocket ride. Many of the detractors were of the perception that Saasu was not selling rapidly. It was not able to appeal the identical numbers of bookkeepers and accountants. Hence, its pace of development was slow.
But Saasu does not fail to stick to its business plan. It made a very strong product which was known as the production of its CEO- Marc Lehmann.
Marc Lehmann was known as a quiet achiever who believed in following the minimalist philosophy in his life as well as business.
What exactly Saasu does?
The priorities of Saasu are different from the competitors and it has an entirely different feature set. It was the main attraction to cloud accounting and was late to enhance bank feeds.
For instance, Saasu’s bank feeds came out from Beta last year. The online accounting software includes rules and assimilation of the bank with PayPal and fast coding.
The e-commerce retailers got benefitted from the integration with PayPal. As compared to the competing programs, this cloud application was designed to scale with high-volume online organizations. The software is capable of handling a large number of transactions. For retailers selling overseas, the software handles 50 foreign currencies.
Saasu’s another retailer- friendly feature is that it is an extremely capable inventory module. Expiry dates, serial numbers, bundle combinations, and multiple locations can be tracked by it. It is also capable of running voucher promotions. Whenever the supply of an item runs low, Saasu auto- flags the refill levels.
On the other hand, Xero is only known for releasing a basic module of inventories.
However, there is a reduction in debtor days and it leads to speeding up of price negotiations because Saasu lacks online quoting and invoicing.
What makes Saasu different?
- Saasu has lightened up the roles of a customer relationship management program. Activities like following up the prospects, attaching documents for the approval of clients, reminders for project invoice dates can be assigned by the users to the members of the staff. Also, the client can track all these activities.
- A list of the customers can be created by the users on the basis of geographical areas, industries, or another area of interest. The users can then run the reports to benchmark and can also compare the volume and frequency of sales. The same feature known as Smart Lists was added by Xero last year.
- Basic time sheets, payrolls with automatic calculations of tax and the approvals of pay officers are also included in Saasu. The updates related to the annual tax tables are included in this software for free. Numerous pay runs can be set up by the users to pay the staff members at different times.
- A new function was added by Saasu in the year 2014, with the main aim of automatically correcting or predicting related terms that will help in finding out information very quickly. All this is done by using artificial intelligence as it acts as a crucial tool of navigation.
- Cash flow forecasting is also included in the software which helps in finding out the amount of cash which an enterprise has in hand if bills are paid on time and invoices are collected.
- Through an amalgamation with Oz Forex- an online currency trader, users of Saasu can pay invoices at competitive rates of exchange to the online suppliers.
Downsides of Saasu
If you talk about the drawbacks of Saasu, the software is not that much attractive to the sole traders and the entrepreneurs who are not familiar with the accounting software. On the other hand, software like MYOB, Xero, and Intuit are known for moderating the jargons and their interfaces in order to appeal the entrepreneurs who make use of Excel to handle and manage their finances.
Modules like invoices and bills are more related to this large market as compare to receivables and accounts payable.
Also, Saasu has to pick its projects more cautiously as it’s not able to match the numerous developers employed by MYOB, Xero, and Intuit. Thus, in some significant areas, Saasu lagged behind.
For a single trader, Saasu initiates $15 per month and 1000 transactions per year are included in it. In addition, three bank feeds are also included in the software.
If a business enterprise wants to add a basic inventory, payroll for up to 20 employees and a multi-currency, it has to upgrade to the medium plan which costs $40 per month. The software also includes annual transaction cap of 20000.
A large plan costs $70 per month which can work for 40 employees and 40000 transactions per year. It also includes progressive inventory, a key performance indicator, and a consolidated profit and loss.
100000 transactions per year and 100 employees can be covered by taking up an extra- large plan which costs $180 per month.
There are nearly 60 add-on programs in Saasu out of which the most popular one is e-commerce solutions.