IRIS snaps up KashFlow

IRIS Software Group has acquired cloud-based bookkeeping software developer KashFlow to create a joint subscriber base of more than 60,000 accounting firms and SMEs across the UK.

IRIS claimed the combined business will lead the market in supplying cloud-based accountancy, payroll and bookkeeping solutions to SMEs and accountants.

KashFlow, which was founded by Duane Jackson in 2006, will benefit from IRIS's nationwide sales, marketing and support teams, and takes its place in the company's growing portfolio alongside IRIS OpenBooks, a rebadged version of KashFlow's competitor FreeAgent in which IRIS holds a 10% stake.

IRIS will continue to provide IRIS OpenBooks to existing customers, but expects KashFlow to provide “even deeper levels of functionality” for accountants and small businesses through integration with KashFlow.

IRIS chief executive Phill Robinson said KashFlow was a perfect fit” with his existing suite of products and explained to AccountingWEB: “[IRIS OpenBooks] has been a good product, and does well, and we want to continue supporting customers that have chosen it. There’s no concept of that partnership dissolving or going away, or not being supported.

While IRIS would continue to support OpenBooks...

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Comments

NOOOOOOOOOOOOOOOOOOO    12 thanks

Mouse007 | | Permalink

Kent accountant's picture

Blimey    2 thanks

Kent accountant | | Permalink

 IRIS (Kashflow and FreeAgent)   V  XERO

Let the battle commence!

 

Paul Scholes's picture

Makes sense

Paul Scholes | | Permalink

Per comment on Any Answers this is a logical progression for Iris which is rich at one end of it's offerings but lagged behind at the other end. 

With Xero being moderately well off at one end and declaring a desire to get up to scratch, in the UK, at the other end, and with other independents like Clear Books also extending their offerings, as KA indicates, interesting times ahead.

.    1 thanks

ireallyshouldkn... | | Permalink

I have a softspot for Kashflow given it was the first cloud package I used, but it was bound to happen, they must have been really struggling against Xero being totally outclassed. 

 

 

KF needs a boost    1 thanks

Ken Howard | | Permalink

Having also used KF since it's early days, I do feel it's lost a lot of ground lately and hasn't been responsive to market needs.

Just take automatic bank feeds - most of the competitors now do it but Duane has been too outspoken against the third party link that KF now looks isolated and would lose face if he changed his position.  He wrongly went against the banks expecting them to change their ways for him.  Now with IRIS in control, it'll be easier for them to start accepting bank feeds which they desperately need to do otherwise they'll lose market share.

Also, I've noticed in the past couple of years that they ignore suggestions for improvements etc.  In the early days, you emailed them with a suggestion and many would be actioned within weeks.  Just look at their "updates" history - go back a few years and there were changes all the time, but recently it's really fallen off and it's started to look as if we were stuck with what we have.  I've certainly made numerous suggestions which would be relatively easy to make but nothing has happened.  They seem to have been preoccupied with doing links to other online systems and forgotten about their core product which is increasingly starting to look dated and lacking compared to the competition.

Let's hope that IRIS breathes new life into KF as I really do think it's run out of stream lately.

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ireallyshouldkn... | | Permalink

@Ken I think that echos our experiences, I have taken our last KF client over to xero about 12 months ago (kicking and screaming I might add) but they seemed delighted once I had as did the other few, I only had 5 or 6 on it peak.

I would bet that their user base has been in decline for some time. 

hopefully with some cash on the table they can catch up with the market leaders. 

The last thing we need is another SAGE in the markeplace, the ideal is 4 or 5 products all with their own specific niche but enough competition to keep everyone working hard for us, not for themselves.

Practice management in the cloud

mgh | | Permalink

We don't use Iris, but I believe all existing practice management software providers need to move to cloud based systems. This will not be easy for them as the software will need to be completely re- engineered. Xero sees this need and seems to be well ahead of its competitors in this area, with Workflowmax and Workpapers, and UK accounts production hopefully not that far away.

Iris or Xero or both

boaters | | Permalink

The question for those of us who are serious users of Iris and Xero is how do we integrate the two so we can make use of the best of both market leaders?

Exciting times!    1 thanks

Gary@BackToBlack | | Permalink

Having come into the KF arena quite late I for one am looking forward to see what happens next.

With the integration they are talking about it could make for a interesting package indeed! Submitting VAT returns is one thing, but for the software to prepare and submit self assessments and CT600's that does look promising. Even the Payroll options look as though it may work for me!

I can only hope Duane stays on and helps improve on what he started!

Re: Practice management in the cloud    3 thanks

jonbryce | | Permalink

Why do they need to move to cloud based systems?  I feel much happier when I can actually see the server my data is on.

Paul Scholes's picture

See the server my data is on    1 thanks

Paul Scholes | | Permalink

Hi jon - I looked at my servers for years and paid them particular attention when they needed a kick, refused to re-boot, updated Windows, refused to back up, would only talk to a doctor or just played dead.

Then I let a hosting company do it and so all I do now is switch on my pc, laptop, wife's ipad or client's kit, from where ever I am, to get to "my" server.  I don't need to see it, or to even see the state of the art building/bunker it's sitting in, to know that it and my clients' data is 100 times more safe & secure than it was when it sat behind me in the corner gathering dust and mice droppings.

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The public cloud

boggey79 | | Permalink

Just following on from Paul's comments.. What about some of the big public cloud providers like Amazon Web Services and Microsoft Azure. I'm a programmer not an accountant but I can see a great opportunity here for those tentatively moving towards the cloud. There's a great deal of redundancy built into these systems.. triple replication, incremental backups along with all the native data integrity features of Windows, Linux etc. You can fire up a cloud server in just a few minutes and use Remote Desktop to access your data anywhere in the world. Just a thought!

carnmores's picture

if you read my comments after Accountex

carnmores | | Permalink

you will see that i talked about this sort of thing

 

http://www.accountingweb.co.uk/article/more-cloud-accounting-tools-hit-uk/543034

 

KF    2 thanks

nickr | | Permalink

Too dated and not kept up to date with the trends - never liked the package from day one!

Cloud Based Accounting - Clear books    2 thanks

bharathathi | | Permalink

There is another great alternative which has not really been mentioned.  Clearbooks is a great cloud based accounting software that we have started using over the last 8 months for all our new clients.  The system works really well and we are in the process of migrating most of our existing clients.

Clearbooks give Zero and other similar systems something to think about and long may it remain independent.

IRIS will probably raise prices and

makingiteasynow | | Permalink

IRIS will probably put the price up and lock people in like they do with their accounts software. Can you tell I bon't like their contracts...

Iris Accounts Office Online (IAOO)

post131 | | Permalink

I have been using IAOO for nearly two years now and lately I am  having lot of problems with Iris servers being down during peak hours. It is very frustrating when you are locked out for several hours on a week day in the middle of your postings. 

Also, Iris is doing a "Sage" on cloud accounts........hiking up the price in Year 2 and 3 with no significan improvement in software or service.

If this continues I would be looking for an alternative supplier very soon.

(Disappointed Iris user, Birmingham)

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