Case Study
Lexware's frictionless financial ecosystem for SMEs
Lexware is Germany’s leading business software provider, empowering more than half a million entrepreneurs and small businesses to focus on their success – without the burden of financial and administrative complexities. Including Lexware Office, a cloud accounting solution, the product range covers accounting, taxes, finances, inventory, and payroll. By offering financial services, this web-based software automates all business processes, seamlessly integrating financial services and accounting through the Lexware business account, card and customer identification.
Challenge
Lexware was set to simplify banking and accounting for half a million German small businesses. The traditional multi-banking system lacked real-time updates, and required multiple platforms with different access points. The repetitive labor and complexity clashed with the aspiration to effectively monitor payments and receipts, challenging Lexware's goal of offering an easy solution for small business owners.
- Under PSD2, bank synchronization was inconvenient, lacking real-time updates and often requiring time-consuming manual entries. Lexware aimed to solve the inefficiencies of the traditional multi-banking system for SMEs.
- Multiple systems and access points brought complexity to the integration of banking and accounting processes. To enhance efficiency and user-friendliness, Lexware sought a strategic partnership, recognizing the need to overcome these obstacles and revolutionize payment management and accounting for small businesses.
- To ensure Lexware’s plan to simplify banking for German SMEs and freelancers, a digital and compliant customer identification process was necessary to scale onboarding and growth.
Our solution
A unified solution for small businesses
In pursuit of becoming a primary business solution, Lexware collaborated with Solaris to introduce the Lexware Business Banking. The web-based software not only automates business processes but also seamlessly integrates financial services and accounting from invoice creation to year-end closing. In addition, business customer identification is digital and compliant, which simplifies onboarding and promotes new customer growth. A fully-fledged alternative to external bank accounts, it streamlines workflows, offering efficient processes and a smooth user experience to small and medium-sized enterprises.
Empowering SMEs with seamless financial control
The Lexware Business Banking in combination with VISA Business Debit card provides comprehensive payment management tools. With real-time reconciliation, push notifications, and smartphone accessibility, SMEs gain almost automated accounting processes. This collaborative solution by Lexware and Solaris reduces manual entries, ensuring small business owners have greater control over their finances. The partnership provides Germany's SMEs with a centralized and efficient banking and accounting solution.
What they say about us
“At Lexware, we believe that small businesses deserve the same level of efficiency and financial control as large enterprises—without added complexity. Our partnership with Solaris allows us to deliver a truly seamless banking and accounting experience, eliminating unnecessary manual work for entrepreneurs. By integrating these services directly into Lexware Office, we empower business owners to focus on what truly matters: growing their business.”
Head of Banking at Lexware