Mature company roundup: Lightspeed launches Accounting, Busbud hires new COO

Lightspeed is unveiling a new, integrated accounting system that syncs POS data with accounting systems while Busbud hired a new COO and announced the launch of Busbud Business.

Lightspeed unveils Accounting

Lightspeed, which calls itself the leading cloud-based commerce solution, is launching its new tool, Lightspeed Accounting. The new product syncs POS data with accounting systems like Quickbooks and Xero. The company said retailers and restaurants can now avoid spending hours exporting data from POS into accounting, not to mention human error.

Lightspeed Accounting “bridges the gap, posting revenues, revenue offsets, taxes, tenders and cash drawer events daily without any action required.”

Users will also get a reporting dashboard, providing a picture of a business’ daily, weekly, monthly and annual performance. Ideally, business owners can set benchmarks and goals, track trends and forecast.

The product will come in two formats: Restaurant and Retail. For Lightspeed’s 36,000 customers, the new offering should be yet another nice perk.

Busbud hires former Expedia exec as COO, announces new B2B platform

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Busbud, a successful Montreal company that sells bus tickets online, made a few big moves recently.

First, it hired former Expedia managing director, Sean Shannon, as its new COO. The move comes as Busbud looks to expand more rapidly across the globe.

“Sean brings a wealth of knowledge with 25+ years of executive leadership experience. As one of the in-country team founders, he scaled Expedia Canada to well over USD $2 billion in annual bookings, led Expedia’s expansion into Latin America, and oversaw the fast growing business in Australia/New Zealand,” said CEO LP Maurice.

According to Busbud, April 2016’s sales were 600 per cent higher than April 2015’s.

The company also announced a B2B bus booking platform, called Busbud Business, which will open its APIwhite label and widget tools up to partners.

A number of major travel companies, like Liligo and Easyvoyage, have recently signed distribution agreements with Busbud and will be making intercity bus inventory available on their platforms in the coming weeks.

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