The firm has acquired SmartVault, a Software as a Service (SaaS) online document management system, which is based in the United States.
SmartVault lets users store business documents online and share files securely over the internet or from their mobile device or tablet.
Reckon said that investing in market-leading document management and portal solutions is a key growth strategy for the Reckon Group. SmartVault will complement Reckon’s Virtual Cabinet product, which offers an enterprise-level document management and portal solution to businesses and accountants.
Clive Rabie, Reckon Group CEO, said the acquisition will help Reckon deliver significant productivity gains to its customer base.
“We are dedicated to accelerating and supporting our cloud-based document management journey and bringing SmartVault into the group represents an important step in this direction," Mr Rabie said
“We have been very impressed with the quality of SmartVault’s offering and the productivity gains they are delivering to small businesses and accountants.”
In keeping with Reckon’s acquisition model of acquiring leading companies and operating them independently, as wholly-owned subsidiaries, SmartVault will operate under its own brand, led by CEO and founder Eric Pulaski and will maintain its employee base and head office in Houston, Texas.
Mr Pulaski said he is excited to join the Reckon Group, adding that the move will allow SmartVault to greatly expand its user base and to deliver increased value to users.
“I am convinced that this acquisition and the synergies between Reckon and SmartVault will increase SmartVault’s value for our customers and our employees,” he said.
“I’m looking forward to this new chapter in SmartVault’s history and to building on the foundation we started eight years ago – to be the trusted partner to accounting professionals and the businesses they serve."
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