SEPTEMBER 2025
Weelhouse Wire
Your monthly roundup from Weel HQ
Welcome to the September edition of the Weelhouse Wire, your monthly download from the Weel HQ.
If your month-end close still feels like a race against the clock, you're not alone. This issue, we’re digging into the finance bottlenecks no one talks about (but every team feels), and how smart automation is quietly transforming the close process.
Here's what's inside this month:
- Media Watch: 11 headlines reshaping finance in AU & NZ
- Finance Benchmark: How long it really takes to close the books
- Feature Spotlight: tools that automate the month-end chaos
- New in Weel: Smarter controls. Smoother close.
- Xerocon Recap: Highlights, trends & takeaways
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Weel media watch: What we’re reading right now
These stories sparked conversation at Weel HQ, so we’re passing them on to you.
Australia
- ANZ Group will reduce ~8% of its workforce (~3,500 people) under CEO Nuno Matos, including 1,000 contractor roles.(Reuters)
- NAB is eliminating 410 domestic roles in tech & enterprise, while creating 127 new ones overseas, as part of operational restructuring. (Reuters)
- Productivity summit ends with Treasurer signalling tax reforms (ABC)
- CommBank’s AI defence slashes scam loss by 76% in the first half of 2025. (Australian Broker)
- ANZ admits “unconscionable conduct” in bond trading, agrees to A$240 million ASIC penalty. (Reuters)
- Atlassian co-founder Scott Farquhar warns copyright rules threaten Australia’s AI growth, especially around data mining and innovation investment. (The Australian)
New Zealand
- The New Zealand government plans to scrap most in-store card payment surcharges, saving consumers approximately NZ$150 million. (Reuters)
- Charting NZ’s $76B AI future: Aotearoa AI Summit to honour top innovators in AI/data/analytics. (Yahoo Finance)
- NZ proposes reducing lenders' capital requirements for deposit takers from $30M to $5M to boost competition. (Reuters)
- Pulse of Fintech H1’2025: NZ fintech funding shows signs of slowing, but new opportunities emerge in embedded finance and payments. (KPMG NZ)
- ANZ NZ to pay NZ$3.25 million for misleading customers over fees & mortgage incentives. (Finance Feeds)
Finance benchmark: Why month-end still takes 7+ days
Why the real blocker isn’t the close; it’s the clutter.
Closing the books should be a process, not a panic. But for many teams, it’s still a sprint against the clock.
In our latest poll, 42% of finance teams reported their month-end takes 5–7 days, with 1 in 8 saying it takes 11+ days, and less than 10% completing it in 3 days or less.
They’re not alone.
- FloQast CEO Mike Whitmire says the close process is “still painful” for most teams, largely due to disconnected systems and manual checklists that don’t scale with growth.
- A recent CFO Magazine piece highlights that while closing in less than a day is technically possible, most businesses “rely on extensive post-close adjustments,” indicating they’re still operating reactively, not proactively.
This tells us something deeper: the challenge isn’t just closing faster, it’s closing cleaner.
The real blocker? Cluttered systems, fragmented workflows, and manual tasks.
It’s why more teams are adopting finance automation tools to:
- With automated rules instead of manual follow-ups
- With built-in controls instead of offline checklists
- With real-time visibility, not month-lag hindsight
Our take? Month-end shouldn’t be a mad dash. It should be the clean, confident finish to a system that’s working well.
Feature spotlight: We've built the toolsthat'll help you close faster
Spend less time on admin. Get more control.
Whether it’s receipts, approvals, or expense reviews, the manual steps can add up fast. Our AI and automation tools take care of the repetitive stuff, so you and your team can focus on what matters most.
What’s inside:
- Catch receipts before they go missing
Forward any receipt to Weel, and we’ll match it to the right expense automatically. - Spot mistakes before month‑end
We scan receipts using AI to flag duplicates, mismatches, and missing details before they become reporting problems. - Decline with context
Approvers can now give instant feedback when declining expenses, so requests get fixed (and approved) faster. - Card blocking rules
Missing receipts or invoices? Set rules that automatically pause cards until they’re uploaded, no follow-ups needed.
Ready to automate the manual stuff?
Book a demo if you're new to Weel or talk to a Success Manager today.
New in Weel: Designed to make your job easier
We’re not into flashy features for the sake of it. These updates came from customer requests, so if they save you time, you can give some kudos to your peers!
Card blocking, now more flexible
You can now exclude specific users from card blocking and set a start date so that only recent, relevant expenses are counted. That means more ways to tailor compliance to how your team works.
Direct debit progress tracking
No more wondering where your funds are. When you top up your Weel account via direct debit, you’ll now see the full status of your payment from initiated to landed.
See who’s behind the spend
Running a report? You’ll now see the full attendee list in your CSV export, so you know exactly who each transaction involved.
Better visibility for accounting, audits, and compliance.
Xerocon recap: From startup alley to centre stage
Two days. Hundreds of conversations. A whole lot of lime-green.
We’ve just wrapped our fifth Xerocon, and this year felt like a real turning point.
The conversations weren’t just about tools; they were about transformation. One thing came through clearly: finance teams are ready to stop juggling systems. They want one place to manage it all - from cards, to reimbursements, all the way to AP - and they’re looking to Weel to help make that happen.
Our Director of Partnerships, Lauren, summed it up perfectly:
“A customer told me they’ve shaved two days off month-end with Weel, and still feel completely in control. That’s the win.”
And that’s what made this Xerocon different.
From reconnecting with partners like The Breakthrough Office, Sports Accounting, and SRJ Walker Wayland, to swapping ideas with the Xero team and fellow apps, there was real energy around what’s possible and what’s next.
We walked away more energised than ever, with one thing top of mind: finance teams aren’t just asking for better software. They’re asking for a better way to work.
Couldn’t make it to Brisbane? Explore Xero's Xerocon wrap-up
Want to integrate your Xero account with Weel? Check out our Xero integration or book a demo to see what's new.
One more thing
We're building Weelhouse Wire for finance teams who want an edge. What should we keep? What should we drop? What do you want to see in next month's newsletter?
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