Australia’s small and medium enterprises (SMEs) are now able to access the Commonwealth Bank’s (CBA) new SME business management tool, Wiise. Wiise empowers SMEs to take control of their business by combining accounting, payroll and banking, and operational functions, including HR, inventory and manufacturing.
Announced in May, Wiise is an end-to-end, integrated, cloud-based business management platform and is designed to help growing SMEs solve their financial and operational pain points. The platform is a collaboration between CBA, KPMG Australia and Microsoft, and combines the business expertise and software development teams of the three partners.
Wiise provides seamless integration with CBA’s banking systems and credit card payment platform, CommBank Simplify. This allows customers to connect their CBA transaction data to Wiise, easily manage their payroll, invoicing and e-commerce requirements all through the Wiise business management platform.
Adam Bennett, Commonwealth Bank Group Executive for Business and Private Banking said: “The increasing complexity of book-keeping, payroll, and tax are just some of burdens that Australia’s SMEs have to navigate as they grow. While these administrative tasks are necessary, it is not the reason that so many Australians choose to run their own business and often takes them away from doing what they love. By combining our expertise with the capabilities of KPMG and Microsoft, we are empowering our customers to take control of their business and reduce the burden of administration.”
As a cloud-based platform, Wiise combines business management capabilities with online banking and payments, and integrates into other software, such as Microsoft Office 365. It connects with any CBA business transaction account account - linking customers’ banking and accounting platforms together, and also provides seamless integration with CBA’s credit card payment platform, CommBank Simplify.
Adam Bennett continued: “Businesses can now utilise a platform specifically built to help them grow in the future. By linking their payments and payroll platform together with their accounting system, businesses can significantly reduce the time they require to manage their business. Wiise allows SMEs to focus more on their customers and less on administration.”
Wiise packages start at $49 per user per month for the Lite version, $119 for the Business version and $199 for the Premium version – with a one-off set up cost of $99, $990 and $2990 respectively*. All versions offer accounting, finance management and reporting, basic inventory management, receivables and payables, auto-reconciliation, HR and payroll. The more advanced versions offering more complex functionality for larger or more complicated business through advanced additional operational modules like distribution and warehousing, service management, and manufacturing.
Over the coming months, Wiise will be further improved and will launch industry specific versions aimed at some of Australia’s key growth sectors including Retail, manufacturing, agribusiness, distribution/logistics, healthcare.
More information on Wiise is available at www.commbank.com.au/wiise.
Wiise software is available in Australia for trial and purchase at www.wiise.com.
- All prices are AUD and exclude GST