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Reckon welcomes Cashflow Manager to software family

Technology

Reckon has acquired Cashflow Manger and its 20,000 clients as part of a $8.75 million agreement with Money Management Group.  

By Imogen Wilson 7 minute read

Cashflow Manager and Okke have been acquired by Australian accounting software provider, Reckon, to further develop and supplement the small business software market.

The acquisition of Cashflow Manger included its 200,000-member client base and software solutions from Money Management Group for $8.75 million.

Reckon CEO Sam Allert said the acquisition included 1,000 accounting and bookkeeping partners currently using the Cashflow Manager desktop accounting solutions.

“We are excited to welcome over 20,000 new clients and 1,000 accounting and bookkeeping partners into the Reckon family,” Allert said.

“Money Management Group has run a high-quality and profitable business for many years with Cashflow Manager and more recently Okke and has focused on supporting their SME clients and partners. It is an ideal match for us to acquire and bring them into the Reckon Group.”

As part of the acquisition, Cashflow Manager customers would continue to use the same software and support to ensure no disturbances to processes and operations were made.

Reckon said it continued to “invest heavily” in cloud-based solutions and the acquisition would provide additional scale to the company’s business group as it pursued a strategy of customer transition to their superior proprietary cloud products.

 
 

Allert said since Cashflow Manager was a strong cash-generating business with a loyal subscriber base, it provided a meaningful contribution to Reckon's growth ambitions and strategic direction.

“We will continue to support Cashflow Manager customers, as we support all our desktop users, as we work with them over the next few years on the perfect time to upgrade to our cloud-based solution.”

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Imogen Wilson

Imogen Wilson

AUTHOR

Imogen Wilson is a journalist at Accountants Daily and Accounting Times, the leading sources of news, insight, and educational content for professionals in the accounting sector. Imogen is also the host of the Accountants Daily Podcasts, Under the Hood and Accountants Daily Insider.

Previously, Imogen has worked in broadcast journalism at NOVA 93.7 Perth and Channel 7 Perth. She has multi-platform experience in writing, radio, TV presenting, podcast hosting and production.

You can contact Imogen at This email address is being protected from spambots. You need JavaScript enabled to view it.

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