Investment Notes: Amaka

Manual data entry and reconciliation into accounting systems

Small businesses struggle with manually inserting and reconciling sales and payments transactions daily into their accounting systems.

Manual entry is not only time-consuming but also fraught with mistakes. Small businesses deal with different sales and payment amounts, must factor in platform or processing fees from their software or point-of-sales provider, and be aware of sales taxes, which put SMBs at risk of compliance and tax issues. This becomes especially difficult for small businesses that must reconcile transactions from multiple stores and/or multiple sales channels.

Streamline sales and payment reconciliations into accounting systems

Amaka syncs sales and payment transactions into small businesses’ accounting systems in minutes, automating their accounting workflow and freeing up time.

Amaka groups and categorises transactions across multiple locations to keep small businesses' books up-to-date. It also maps each transaction to the right accounts, removing hours of manual data entry and ensuring accuracy.

All of this allows for an easier, lightning-fast reconciliation process, which is loved by merchants. Amaka has received glowing reviews across Xero marketplace (900+ five star reviews) and Capterra (4.8/5 stars).

Power accounting integrations for B2B software products

Amaka also delivers managed accounting integrations for B2B software companies to connect data from their software to their customers’ accounting systems. These integrations are often requested by their customers, who tend to be small businesses; however, B2B software companies struggle to prioritise such features in their product roadmap. B2B software companies often lack the necessary expertise for complex accounting integrations and find it hard to put together a business case to allocate valuable engineering and customer support resources to such initiatives.

Amaka helps these B2B software companies to extend the functionality and usefulness of its product for their small business customers by unlocking an array of accounting integrations that complement their core software product. Amaka provides not only the technical expertise but also the relevant documentation and support assets to help B2B software customers onboard and support their small business customers. This boosts customer acquisition and retention for B2B software companies, without the need to drain internal resources to develop and maintain accounting integrations.

Integration layer for all small business software to accounting systems

The goal is for Amaka to manage as many integrations for its small business customers, with the vision of becoming the Zapier for accounting. Accounting data is the source of truth for any business — and Amaka can be the integration provider that can connect your eCommerce software, and your Point-of-Sales software, and your e-Signature platform and more — all back to your accounting system.

By connecting the long tail of niche, domain-specific (yet mission critical) B2B tools to accounting systems, Amaka can provide deeper value for customers within key sectors in ways that others cannot.