BANKING

accountant , means it ’ s most probably fit for purpose . And , finally , we have to consider if the software is a necessary expense for them , particularly in the current economic environment .”

Vrillaud points out that small businesses have different needs from larger ones , comparing it to bank accounts : “ Small business owners have very similar expectations to retail banking customers – they want software that is largely self-serve , quick and easy to use , and increasingly mobile-first .” This explains why a high number of challenger banks , taking advantage of the opportunity to appeal to SMEs , are launching bookkeeping features like invoicing , transaction categorisation and receipt capture , he says .

“ Large corporations , on the other hand , will most likely want software that can be made bespoke to their needs , integrated within their existing software stack , and with stringent access control to allow for the various functions within their finance organisation to perform their specific duties .”

Can small businesses be fully reliant on B2B software ? As small businesses increasingly lean on B2B software to keep them informed of regulatory changes , do they risk becoming

NICOLAS VRILLAUD HEAD OF PARTNERSHIPS , METTLE

complacent ? Although many platforms are good at informing clients about upcoming changes and how they ’ re likely to affect their business , it ’ s no substitute for actually having a thorough understanding of the regulatory environment .

“ As competition heats up between incumbents and new entrants , an option to differentiate propositions is to provide regulatory updates , nudges and educational content to customers ,” Mettle ’ s Nicolas Vrillaud says . “ This is something that is increasingly happening in the small

NICOLAS VRILLAUD HEAD OF PARTNERSHIPS , METTLE

44 December 2022