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Scope and Fyorin join forces to provide an end-to-end financial operations solution for SMEs

Press Release
By
Karolina Jarosinska
|
February 7, 2024

Fyorin is pleased to announce its partnership with Scope, a leading EMEA software reseller specialising in accounting solutions. This strategic partnership aims to empower SMEs with a comprehensive financial operations solution that simplifies and streamlines their financial needs across a broad spectrum of b2b cross border payments, treasury, accounting and reporting.

SMEs today are burdened with multiple banking relationships and need to rely on different financial operations systems to expedite processes such as payables, receivables, reporting, and treasury management. The disjointed nature of this set-up means fragmented data, and increased manual work which significantly delays payment processing, month-end closing and hikes operational costs.

Scope has built a reputation as a partner and specialist dedicated to optimising and transforming SMEs' operations into efficient, reliable, and secure business engines. And at Fyorin, we’ve built a comprehensive financial operations platform to streamline b2b cross-border payments, AP/AR automation and treasury management across a network of global financial institutions. Together, Scope and Fyorin recognized the importance of integrating financial operations with accounting solutions to save time on accounts payable and receivables as well as provide real-time access to cash positions across multiple financial institutions without the need for additional human resources or multiple tools.

The partnership allows Scope's clients to benefit from:

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Better control of treasury: Fyorin aggregates financial data from multiple financial institutions under one roof, giving Scope clients a real-time and accurate picture of their cash position, spending, and treasury across entities, currencies, and banks.
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Multi-banking: With Fyorin, SMEs can manage multiple banking relationships in one place, open bank accounts in nearly 220 currencies and move globally as a local. This means less banking fees and less systems to rely on.
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Real-Time Reconciliation: Fyorin's accounting integration with major tools like Xero, Quickbooks and Zoho automatically reconciles invoices by marking them as paid or partially paid and saving hours of manual work.
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Fast multi-currency payments and budget control: Scope clients can initiate supplier payments directly from their accounting solution, with payments automatically routed through Fyorin, in the supplier's preferred currency and method. In addition, they can accept payments from customers in any currency. This eliminates the need to access multiple bank accounts for payments. By using our sub-accounts feature, businesses are able to automatically separate receivables into distinct accounts. Additionally, each sub-account comes with its own dedicated IBAN.
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Virtual multi-currency cards: Fyorin multi-currency cards enable Scope clients to securely manage their subscriptions and make online payments for products and services. With a remote dashboard, they can issue multi-use or single-use cards, set limits and controls. Finally, they can turn costs into earnings and earn cashback every time they pay with the card.
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Transparent approvals: Fyorin streamlines payment approval workflows with roles and permissions. In addition to ensuring prompt and timely payments to vendors, suppliers, and customers, this also reduces operational costs.

Brian Ferris, Managing Director of Scope commented:
We are thrilled to partner with Fyorin, a leader in financial operations solutions. This collaboration is a strategic step in enhancing the financial management capabilities of SMEs. Together, we're bringing a holistic approach to financial operations, combining Scope's expertise in accounting solutions with Fyorin's innovative platform. This partnership empowers our clients with an integrated, efficient, and comprehensive system that not only simplifies their financial processes but also offers real-time insights for smarter decision-making. Our commitment to this partnership reflects our dedication to providing SMEs with the tools they need to thrive in a competitive global market.

Using Fyorin's expertise in financial operations, Scope has evolved into a comprehensive provider of financial operations solutions for SMEs. Scope has also recently expanded its operations to UAE and, by utilising Fyorin's global network of financial institutions, will provide the same comprehensive services to clients in that region.

Through this partnership, Scope clients can now truly operate globally from a financial operations standpoint while having the flexibility and efficiency to better manage their treasury, across a network of financial institutions, with ease. This partnership will also enable scope clients to be more efficient by saving time and money through a 2-way automated integration with Accounting Platforms like Xero and Zoho.

James Camilleri, Co-founder and CEO. Fyorin

Scope and Fyorin have partnered to provide SMEs with a simplified, efficient, and secure financial solution that empowers them to grow and succeed globally. The partnership represents a commitment to innovation and a dedication to meeting the evolving needs of businesses in the EMEA region and beyond.

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Karolina Jarosinska
Product Marketing Manager
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Karolina is the product marketing manager at Fyorin. She deep dives into topics like fintech, payments, unified treasury to extract the recent trends and insights and bring them to Fyorin's audience.

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