The partnership introduces integrated receivables and payables solution for small business accounts

Jack Henry & Associates, Inc. (NASDAQ: JKHY) is a leading provider of technology solutions and payment processing services primarily for the financial services industry. Its JHA Payment Solutions™ group today announced the availability of Autobooks, a secure, integrated receivables and payables solution that enables small businesses to manage their finances more effectively and accurately.

Small business accounts represent an important market and growth opportunity for community and regional institutions. The Autobooks solution positions these financial institutions as a small business’ one-stop destination for invoicing, digital payments, and accounting tools. The solution provides a comprehensive small business platform that can be deployed quickly and cost effectively to help financial institutions expand their existing small business relationships while attracting new ones.

Adom Greenland, Chief Operating Officer of Sparta, Mich.-based ChoiceOne Bank, said, “Small business owners juggle many priorities at once, including sales, training and building customer relationships; they simply don’t have time to manually manage finances via spreadsheets and multiple cumbersome systems and processes. With Autobooks, ChoiceOne Bank can enable our small business customers to manage their financial activity with cost-effective tools that simplify processes and save time. It is the perfect recipe for boosting small business customer loyalty.”

Autobooks allows small businesses to electronically send invoices, collect payments, and automate aspects of accounting and reconciliation while supporting budgeting and cash flow forecasting. It can aggregate and streamline financial activity from multiple institutions, bringing an easy visibility to financial health and management.

Steve Robert, CEO of Autobooks, stated, “This partnership with Jack Henry & Associates and Autobooks enables progressive financial institutions to more easily keep up with advances in small business account technology and more effectively attract and retain small business customers, a segment that has been challenging to efficiently serve. With Autobooks, small businesses can better manage and understand their current financial health while planning for upcoming goals.”

Small businesses can easily customize Autobooks to support their unique near- and long-term business objectives, and all of its features can be managed through single sign-on digital banking for a secure, convenient, and intuitive experience. It can function as a small business’ back office, enabling financial institutions to provide timely and relevant offerings based upon their customers’ unique needs.

Autobooks integrates with Jack Henry & Associates’ SilverLake System®, CIF 20/20®, Core Director®, and Episys® core platforms, and seamlessly integrates with its Enterprise Payment Solutions™ suite, RemitPlus® remittance processing solution, iPay Business Bill Pay™, and NetTeller® online banking to create a powerful payments hub.

Greg Adelson, General Manager of JHA Payment Solutions, added, “Small business services is a competitive market, and we are committed to helping financial institutions find and leverage the best tools available to successfully compete and gain market share. By partnering with Autobooks, Jack Henry & Associates enables banks and credit unions to deliver the comprehensive functionality that small businesses need to easily manage both payables and receivables in a single, intuitive platform.”

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