SMPLR platform, shortly after announcing the opening of public alpha access, reveals new features in development, including the first full-scale production release and its plans for 2023 to outpace competitors.
Shortly after it was announced on Yahoo Finance, that the platform is ready to welcome its early users, SMPLR’s product team shared some interesting details with us. Considering the new information given, the product will not only allow entrepreneurs to control crypto and fiat transactions from one pilot seat. SMPLR will move towards a one-stop super-app for any company or individual, involved with crypto payments, that will help companies to automate payment processes. It will include collecting other must-have capabilities like counterparties’ management, risk scoring, and tax tools under one roof. Such an innovative approach is surely new to the market of accounting, and here is what the product team has to say on that topic:
“When the very concept of SMPLR emerged, we already had some thoughts on how we could provide additional help to Web2 and Web3 businesses. Indeed, apart from transaction data and managing spending and income, each blockchain company all around the world faces many obstacles. Security, tax compliance, and delegating payments could slow down your company’s development and limit growth and profits. Thus, our product shall receive two major updates in 2023: SMPLR Pay and SMPLR Shield, to help the companies deal with these issues. These features will provide new opportunities for solving the financial management tasks of companies”.
SMPLR aims to provide solutions to the following important questions related to our client’s key questions to an accounting app:
- How can you analyze your company’s cryptocurrency and fiat expenses using a single dashboard?
- How can you conveniently review your company’s financial status by aggregating all expenses and incomes in one place?
- How can you effectively plan your cryptocurrency spending?
- How can you consolidate all cash flows, including both cryptocurrency and fiat, in a single location?
- How can you delegate payments without any associated risks?
Features that are already introduced and that are to be implemented in 2023, are answering these key customer pains. Solving them ensures that SMPLR will enter the top of accounting apps. Alongside its future development plans, SMPLR already offers a range of features including contacts and transaction reports, which were recently announced on the company’s Twitter. With these tools, SMPLR users can easily manage their contacts, and payments to counterparties, as well as receive detailed financial data. As SMPLR continues to evolve, users can look forward to even more features and capabilities to help them stay organized and on top of their financial activities. With existing multichain and multi-token support alongside already available financial management tools, this product could already have an impact on the financial lives of its clients. And the upcoming year will surely take SMPLR to the top positions in the world of accounting apps, and here is why.
The world of cryptocurrency accounting is evolving and presenting new challenges apart from already known and stated that need to be addressed. Some of the most pressing issues include building transparent and reliable financial relations, navigating the different regulations that exist all over the globe, and ensuring the secure delegation of payments.
Fortunately, SMPLR is stepping up to the plate and releasing new products that will help to address these challenges. With a focus on providing transparent and reliable financial information, SMPLR’s solutions are designed to help businesses build better relationships with their customers and partners.
One of the key features of SMPLR’s new releases is their ability to navigate the complex regulatory landscape of the crypto world. With different regulations in place all over the globe, it can be difficult for businesses to stay compliant and avoid costly penalties. SMPLR’s solutions take this burden off their client’s shoulders, ensuring that they are always operating within the bounds of taxes.
Another essential aspect of SMPLR’s new releases is their focus on securing payments. In the world of cryptocurrency, the potential for fraud and hacking is always present. Let’s look through each of these updates to see how these important questions are to be answered by the platform.
The nearest update, SMPLR Pay, is planned for Q3. It will include several vital functions, such as a delegation system for executing payments with the custodial wallet. Such a system will provide companies with an additional level of security, as the trusted employees will be able to perform different financial operations. Besides, already in Q1 SMPLR Pay will implement a system of budgeting and expense tracking management to see what your company spends mostly on, and business contacts (like your counterparts’ bank accounts and crypto wallets), so you won’t have to keep this essential info in separate documents.
The other key milestone for the start-up in 2023 is SMPLR Shield, scheduled for approximately Q3-Q4. Alongside this update, the platform will receive the functionality of ongoing risk scoring for company contacts to know precisely, with whom you plan to build your financial relations, a transaction monitoring system (KYT) to ensure that your funds are not at risk of being frozen. SMPLR will also work with tax compliance, so your enterprise could operate fully legally and fulfill all regulatory demands. With SMPLR Shield, each client would be able to check its clients against 1000+ global watchlists, sanctions, and PEP lists, as well as build custom payment strategies based on blockchain data received from KYT, accurate risk scores, and tax policy of the country you operate in.
SMPLR’s approach to financial management stands out from its competitors due to its unique combination of tools that cater to both Web2 and Web3 companies. Its platform offers users the ability to consider all possible regulations, ensuring compliance and minimizing risk. While its competitors are trying to keep up with accounting trends, SMPLR foresees the upcoming challenges for entrepreneurs all over the world and will offer a wide variety of tools to solve them. Alongside the convenient functionality, useful for every type of business, and dedicated to financial data analysis, SMPLR will have to offer much more than just accelerating the accounting process. With SMPLR Pay and Shield, all its clients in 2023 would become protected from the additional risks while making payments and creating innovative business strategies, while the platform would solve the delegation, security, and compliance questions.
Learn more about the platform here
About SMPLR
SMPLR is a full-cycle platform for SMB companies, self-employed businessmen, freelancers, and individuals that allows you to effectively track, use and manage cryptocurrencies and fiat funds. It allows to fully automate transaction records, to generate profit and loss statements in real time. A proprietary non-custodial wallet will help you securely manage assets and delegate payments within a team in one click.
