Dubai: Zoho, a global privately held company that offers the most comprehensive suite of business software applications announced its partnership with Mashreq, one of the leading financial institutions in the UAE to bring connected banking solution in the region through Mashreq NeoBiz.
With this solution, NeoBiz account holders will have access to Zoho Books, the most powerful VAT-compliant accounting software, to eliminate manual data entry and automate reconciliation.
NeoBiz is the first digital banking proposition in the UAE exclusively aimed at small and medium enterprises to empower them with smart choice to initiate, transact and manage their banking requirements.
Prashant Ganti, Head of Product Management, Global Tax, Accounting, and Payroll solutions, Zoho Corp said, “Until now, corporate banking and ERP integration was a luxury that only larger businesses enjoyed. We are happy to join forces with Mashreq to equalize this for businesses of all sizes and make everyday banking and accounting easier,”
Rohit Garg, Head of NeoBiz and Business Banking at Mashreq said, “Mashreq continues to be at forefront of digital transformation and we believe that our partnership with Zoho will further enhance customer experience and make banking simple. The collaboration will enable SMEs in the UAE to streamline their business operations by combining seamless banking transactions through NeoBiz and leverage the accounting software of Zoho on a single platform thus increasing productivity and reducing manual errors.”
Benefits of the Zoho-Mashreq partnership:
Single sign-on
Business owners can seamlessly log in to both NeoBiz and Zoho Books with a single sign-on and securely access Zoho Books right from the NeoBiz portal without additional logins or authentications, making it more convenient for businesses to manage their banking and business finance.
Automatically fetch and reconcile bank statements
All NeoBiz transactions are automatically fetched into Zoho Books from the NeoBiz account. Zoho Books’ powerful reconciliation engine automatically reconciles these transactions with the ones already recorded in Zoho Books and helps recreate missing transactions easily. This saves the time that businesses currently spend on manually entering and reconciling bank transactions.
Experience smart accounting with Zoho Books
With NeoBiz, UAE businesses not only have a digitally advanced banking solution, but they can also streamline day-to-day financial operations like invoicing and collecting online payments, run advanced financial reports for deeper insights, and stay VAT compliant.
Pricing and Availability
Mashreq’s NeoBiz account holders get six months of free subscription of Zoho Books. Businesses that don’t have a NeoBiz account can apply for one within 20 minutes. Once it is approved, they can instantly access Zoho Books right from the NeoBiz digital portal.
For more information on NeoBiz, please visit https://www.mashreqneobiz.com/en/.
Zoho Books is FTA-approved, VAT-compliant accounting software that includes online invoicing, payments, bank reconciliation, inventory management and more. Run 40+ built-in reports including trial balance, profit & loss, and balance sheet, and generate VAT return reports in the format specified by the FTA. Zoho Books makes accounting and tax compliance a breeze. For more information on Zoho Books, please visit https://www.zoho.com/ae/books.
About Zoho
With 45+ apps in nearly every major business category, including sales, marketing, customer support, accounting and back office operations, and an array of productivity and collaboration tools, Zoho Corporation is one of the world’s most prolific software companies. Zoho is privately held and profitable with more than 8,000 employees. Zoho is headquartered in Austin, Texas with international headquarters in Chennai, India. Additional offices are in the United States, India, Japan, China, Singapore, Mexico, Australia, the Netherlands, and the United Arab Emirates.
Zoho respects user privacy and does not have an ad-revenue model in any part of its business, including its free products. More than 50 million users around the world, across hundreds of thousands of companies, rely on Zoho every day to run their businesses, including Zoho itself. For more information, please visit www.zoho.com.
About Mashreq
One of the UAE’s best performing banks for five decades, Mashreq is a leading financial institution with an expanding footprint across the Middle East. We have international offices across Europe, Asia, Africa and the US, and a strong presence in all the financial capitals of the world.
As the oldest bank in the UAE, our 51-year old journey can be traced back to humble beginnings in 1967, followed by periods of rapid growth and strategic expansion. Throughout our history, Mashreq has differentiated itself by pioneering new-to-market concepts and launching unique products and services.
Our innovative approach sets us truly apart. It also continues to win us numerous awards and accolades in all the fields of banking we operate in – Digital, Corporate, Retail, International, Treasury and Islamic, and across the multiple banking channels we deploy – mobile, digital, online, traditional and telephony. Mashreq is proud to be the only institution in the UAE to be awarded the Gallup Great Workplace Award for six consecutive years from 2014 to 2019.
