Software provider admits cloud accounting space ‘quite saturated’

Software provider admits cloud accounting space ‘quite saturated’

One cloud accounting software provider is pursuing partnerships with various SME networks to promote its software in a market which it recognises as “very competitive”.

Speaking to Accountants Daily, Reckon managing director Sam Allert revealed that the company is pursuing partnerships with networks to improve its reach in the business community.

Reckon has recently formed partnerships with both the Housing Industry Association and AusMumpreneur.

“We're really excited about both partnerships and they've come on at slightly different times and for slightly different reasons but the core is that we want to look after small business in Australia and both networks have a huge reach,” Mr Allert said.

“It’s not just about providing our accounting software, but it’s also offering training, attending their conferences, giving advice on social media and setting up websites. We don’t purport to be absolute experts in those areas but we're doing way more than just providing an accounting software.”

Mr Allert said that this strategy is one that they plan to continue to pursue in the face of competition.

“Obviously in our competitive space, in accounting software, one big and important channel to market is accountants and bookkeepers, but it is a very competitive space, and I think it’s fair to say it’s quite saturated,” Mr Allert admitted.

“So we are absolutely working on these types of partnerships to get a wider reach into the small businesses in Australia and New Zealand.”

This follows news earlier this year that Reckon demerged its document management division, which Mr Allert said has allowed them to focus more on the accounting software division.

Further, last week 7.97 million Reckon shares were traded at $1.45 a share, which represents a 7 per cent stake of the software provider according to Fairfax Media.

Mr Allert told Accountants Daily that the block trade “doesn't have an impact on the operation of business at all.”

It was also revealed last week that director Christopher Woodforde resigned from the company, with Mr Allert informing Accountants Daily they are still in the process of replacing him.

Software provider admits cloud accounting space ‘quite saturated’
accountantsdaily logo
promoted stories

Latest Opinions