Digital Business Bank Penta Integrates DATEV Digital Solution

Digital Business Bank Penta Integrates DATEV Digital Solution

· Penta becomes official DATEV Marketplace Partner and integrates the DATEVconnect online interface.
· Penta customers can now prepare their accounting and digitize their receipt management directly from their bank account with a few clicks.
· It is the first cooperation between the leading accounting IT service provider and a German digital business banking platform.

Penta, the digital platform for business banking, becomes an official partner of the DATEV marketplace and integrates the DATEVconnect online interface.

For Penta customers, this means that they can now manage their preparatory accounting conveniently and digitally directly from their business account – the perfect symbiosis between banking and accounting. It is the first cooperation of this kind between DATEV and a digital business banking platform and is part of Penta’s strategy to also assist larger medium-sized companies with many employees and more complex accounting. The DATEV integration is now available to all customers with the Penta Premium Plan.

Now Penta customers have the ability to attach receipts directly to any bank transaction and synchronize them, for example, as part of the monthly statement directly to DATEV Unternehmen online via the DATEVconnect online interface with just a few clicks. In DATEV Unternehmen online, the customer can now simply complete preparatory accounting and hand it over to the tax accountant.

This saves entrepreneurs valuable time and money. According to a study (Plum Consulting, 2017), small and medium-sized companies spend around 80 to 100 days a year on administrative tasks – 23 percent of which are swallowed up by accounting alone. Tax offices that already work digitally with DATEV report time savings of 25 to even 50 percent, which is particularly evident in the preparation of annual financial statements. In addition, the risk of data loss is reduced because incoming and outgoing invoices no longer have to be passed back and forth between the company and the tax accountant by means of a physical “pendulum folder”, but can be forwarded securely in a digital form.

DATEV eG is the leading software house and IT service provider for tax accountants, auditors and lawyers and their mostly medium-sized clients. The company can now look back on decades of success and has around 382,000 customers. DATEV is also GoBD-compliant (principles for the proper management and storage of books, records and documents in electronic form and for data access).

Lukas Zörner, Chief Product Officer and Managing Director at Penta: “With the integration of DATEV, we are fulfilling a long-awaited wish of our customers. DATEV is the market leader in the field of accounting, with which the majority of German tax consultants work. With its digital and full service, DATEV is the perfect partner for Penta. We are very pleased to be the first digital banking platform to take this step and create a new service that finally brings banking and accounting together.”

The successful integration of DATEV is a further milestone on Penta’s path to provide a complete all-round service for entrepreneurs and their finances. In addition to the now integrated, preparatory accounting, this includes the already digital expense management and cooperation with credit platforms such as iwoca for financing.

About Penta

Penta is the digital platform for business banking for small and medium sized companies, as well as self-employed and freelancers. Within minutes, companies can digitally apply for a business account and receive a German IBAN, debit cards, digital expense management and other financial solutions. The company is headquartered in Berlin, with another office in Belgrade. The management consists of Jessica Holzbach, Lukas Zörner, Henrik Jondell and Igor Kuschnir.