Release Note - ABSS Accounting & Premier Connect

Release Date: 1 August 2024

Introduction

This document outlines the launch of two new products within the ABSS product suite:

• ABSS Accounting Connect
• ABSS Premier Connect

ABSS Product Suite

The expanded ABSS product suite now comprises of:

ABSS Accounting Connect (new launch)	Subscription Model
ABSS Premier Connect (new launch)	Subscription Model
ABSS Accounting	On-premise license purchase (remain as usual)
ABSS Premier	On-premise license purchase (remain as usual)
Financio Payroll by ABSS [Essentials]	Subscription Model
Financio Payroll by ABSS [Premier]	Subscription Model

ABSS Accounting Connect & ABSS Premier Connect

ABSS Accounting & Premier Connect is a cloud-connected accounting software. This solution connects you to our cloud services, local government agencies, and statutory boards. Currently, we provide e-invoicing and A.I Scan cloud services. We have mobile app services and bank connect services coming soon.

These subscription-based offerings give you a cost-effective access to ABSS functionality, enabling online connectivity to your on-premise database, and offer the following features:

New Features

Cloud Connect	Cloud Connect connects you to our cloud services, local government agencies, and statutory boards. Currently, we provide LHDN e-invoicing and A.I scan cloud services. We have mobile app services and bank connect services coming soon. For more details, please click here.
E-Invoice Compliant	Generate compliant electronic invoices, with near real-time validation from LHDN for Malaysia for faster invoicing, and quicker payment.  This streamlines Business-to-Business (B2B), Business-to-Consumer (B2C), and Business-to-Government (B2G) invoicing by syncing contacts and eliminating manual processes, saving your time and ensuring compliance. LHDN Direct: Facilitates direct data transfer to LHDN, ensuring legal compliance.  Peppol e-invoicing (chargeable): Grants access to the international Peppol network for e-invoicing with millions of businesses globally (available in Malaysia and worldwide) For more details, please click here.
A.I Scan (OCR)	Automates document upload to your accounting system by scanning bills and receipt, improving efficiency and reducing manual processing errors. Includes a complimentary set of A.I scan transactions, with additional volume available for purchase. For more details, please click here.
Financio Payroll by ABSS	Subscribe to Financio Payroll for integrated solution to manage payroll and accounting. Boost efficiency, save time, and manage everything in one place. *Free up to 3 employees for ABSS Premier Connect subscribers.
Mobile Connect (coming soon)	Allows for processing invoices, purchase orders, receiving payment, and checking customer account status on the go with the ABSS Connect mobile app. (available on all platforms, scheduled for Q3 2024)
Bank Connect (coming soon)	Enables seamless bank reconciliation, reducing manual tasks and saving time and money. Initial connectivity with Maybank, followed by RHB and UOB. Please refer to the ABSS website for a comprehensive list of supported banks by country, scheduled for Q4 2024 onwards.

Transition to Subscription Model

ABSS have transitioned from a perpetual license model to a subscription model. This change allows us to: 

• Enhance customer service and strengthen relationships
• Improve responsiveness to customer needs through timely feedback
• Simplify and standardize the renewal process with automated renewals 
• Eliminate product shipping costs by facilitating direct download and installation 
• Ensure continuous compliance with regulatory updates

Applicable to ABSS Premium Cover customers

ABSS Premium Cover subscribers with active coverage as of 1 August 2024 are eligible to subscribe to ABSS Accounting Connect and ABSS Premier Connect free of charge for the duration of their existing cover's validity period.