Reckon’s deal with MYOB came two years after its first attempt to offload its accountants practice management division, and chief executive Clive Rabie said the company has been “very stretched” with the resources and development needed to keep it going.
“We believe this is much better for the Reckon group, and it’s better for the technology we will be delivering in the future,” Mr Rabie told Accountants Daily.
Reckon’s focus will now be on its practice management and legal divisions and micro-business, as opposed to the small business market where its competitors like MYOB, Intuit and Xero play.
“We are very focused in terms of price and technology on micro-business,” Mr Rabie said.
“We work on the business which is usually a one or two-man show, and we try and supply a solution which is simpler and more appropriate for them to use,” he said.
Mr Rabie also said there will be no significant management changes if the acquisition goes ahead, with the exception of a handful of roles shifting for those who work across multiple divisions.