In what is believed to be an industry first, Barclays has announced the launch of a new online tool that helps businesses manage all their own data in one place.

The bank has collaborated with a number of app providers to enable businesses to import their everyday business data and information provided by these apps into one dashboard within its online banking site.

The SmartBusiness Dashboard enables businesses to import their existing apps or download new apps from a range of providers across bookkeeping, sales and inventory, marketing and analytics and workforce management.

For the first time, businesses can view their real-time banking data and information about their business side by side. For example, rather than accessing each app individually, a shop owner can now securely log in to their online banking and view not only their financial information, but bring in their product sales data, website analytics and staffing rotas, all alongside their cash flow. Barclays believes this will boost business productivity and save owners time.

Available to half a million of the bank’s business customers, the SmartBusiness Dashboard can be accessed by just one click in online banking and there is no charge to use the platform.

Ian Rand, CEO of Barclays Business Banking, said: “This is a significant step in transforming day to day banking- meaning SMEs can see everything about their finance and data about their business in the one place through Barclays online banking. Busy business owners shouldn’t have to spend time sorting through different spreadsheets, reports or switching between apps - we’ve created a tool to give businesses time back - and this is an efficient way to run and grow their business.

“In giving businesses the choice to import their data and working closely with partners through the platform, we believe this is a game-changer and will boost competition. No other bank is offering this to businesses. Crucially, if you are a business owner this is a safe and easy way to access a range of data about your business, putting control firmly in the hands of businesses.”

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