H&R Block has made its Wave small business accounting software available to developers. The tax services company made the announcement this week’s webcast for earnings for the third quarter ended January 31.

 

“We have opened our API  to  third-party developers to extend the functionality and reach of our tools,” CEO Jeff Jones said during the webcast.  H&R Block acquired Wave during its October quarter. Wave contributed $11 million revenue for the second quarter.

Allowing developers access to APIs (application program interfaces) is necessary so they can develop applications that work with another program.  Opening previously closed applications is a strong trend in the software business.

Block is also completing integrations to provide more functionality to Wave. “We are also releasing new integrations to make it easier for small businesses to track all of their transactions from various sources in a single system,” Jones said. The first integration launched is with Shopify.

The company has also started cross selling Block and Wave customers. “We are emailing qualified H&R Block clients about Wave; we will be emailing qualified wWve clients about Block," Jones said.

The third quarter is usually a weak one for Block since it is largely outside of tax season. For the most recently ended quarter, the company $184 million, compared to a loss of $171 million the prior year. Third-quarter revenue was $161 million, an 8-percent increase from $149 million in last year’s corresponding period. Most of the increase came from Wave.

Bob Scott
Bob Scott has provided information to the tax and accounting community since 1991, first as technology editor of Accounting Today, and from 1997 through 2009 as editor of its sister publication, Accounting Technology. He is known throughout the industry for his depth of knowledge and for his high journalistic standards.  Scott has made frequent appearances as a speaker, moderator and panelist and events serving tax and accounting professionals. He  has a strong background in computer journalism as an editor with two former trade publications, Computer+Software News and MIS Week and spent several years with weekly and daily newspapers in Morris County New Jersey prior to that.  A graduate of Indiana University with a degree in journalism, Bob is a native of Madison, Ind
Last modified on Friday, 06 March 2020
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