“This release marks a huge opportunity for Reckon and is a significant milestone for the company,” said Mr Rabie.
“The lack of payroll functionality was curbing the uptake of Reckon One,” Mr Rabie added, while noting that the software launch will allow the company to significantly expand market opportunities.
“[The] introduction enables us to expand from targeting sole traders, to small and large businesses, significantly increasing our potential market," he said.
“Our Reckon One solution has had a big boost today. It’s game on.”
Mr Rabie praised the decision to construct a payroll solution in-house, forgoing an acquisition-based strategy.
“Reckon has built payroll from the ground up. We consulted clients and the broader industry to ensure our tool could fit their needs better than anyone else," he said.
“In a very short time we’ve caught up to, and I believe have now surpassed, the competition in a number of key ways.”
Reckon One allows super contributions to be processed automatically on its $5 per month ‘medium’ payroll version, and has partnered with NAB to facilitate this across all major banks from launch date.
The provider has also revealed a $3 per month payroll offering that will allow businesses to process their contributions manually from 30 June.
Mr Rabie noted that as Reckon approaches its launch date within the UK, the future is looking bright for the company.
“I'm glad to report that Australian software innovation is alive and well. We will prove that an Australian company based in North Sydney can battle with the best of them and win on the world stage.”