e-conomic defies the downturn; world domination next?

Posted by AccountingWEB PM | on Tue, 17/03/2009 - 17:40 3046 3 comments

“We like to share that there’s good news out there; that there are people out there doing well, growing and expanding their businesses.” At a time when other businesses around the world are wrestling with the recession, e-conomic CEO Torben Rasmussen is optimistic, thanks to the success of his company's Cloud accounting application.

Established in Denmark in 2001, e-conomic introduced a local version of its web-based accounting service in UK last year and went on to gain third place in the web-based accounting category of the 2008 Software Satisfaction Awards.

This week, e-conomic p

Continued...

Comparing the players

david_terrar | Thu, 19/03/2009 - 07:08 | Permalink

There's a good piece over at Dennis's place comparing the players:
http://www.accmanpro.com/2009/03/13/how-many-number-1s-are-there/

David Terrar
Business Two Zero.com and Twinfield and WordFrame

"Show the rest of the world that you can do online accounting"

david_terrar | Thu, 19/03/2009 - 07:02 | Permalink

Part of the reason that Torben Rasmussen talks about the SaaS competitors not being rivals and working together is because he knows we've been talking about this for some while. Hamish Edwards of Xero instigated, almost exactly a year ago, a regular meeting of the UK SaaS accounting players. A number of us including Duane Jackson of Kashflow, Mark Davies of e-conomic, Chris Poll of Validis, Dave Turner of CODA2go, and myself on behalf of Twinfield have been getting together informally. We wanted to put aside the competitive element between us and see what we could do to work together to promote awareness of the SaaS topic and address some of the key issues as a group, rather than individually.

Eventually we have decided to formalise the group under the guidance of Intellect, the organization set up to represent the UK's technology industry. Intellect was created in 2002, but can trace its history back 75 years to the British Radio Manufacturers Association. They have over 800 member companies, 500 of which are SMEs.

The Intellect SaaS group has been widened from accounting to cover all SaaS application software, and the aims are to:
- publically raise awareness about the benefits of SaaS.
- connect with media and industry leaders to enhance their understanding of SaaS.
- to act as an independent point of contact for anyone interested in SaaS.
- to act as a forum to meet and network with others with an interest in SaaS.

The group will work closely with Intellect’s existing Software Group. Our second formal meeting is next week. Our web page is:
http://www.intellectuk.org/content/view/4857/136/
If anyone is interested in finding out more, please contact:

Carrie Hartnell
Head of Industry Strategy
T 020 7331 2007
E carrie.hartnell@intellectuk.org

Regards,
David Terrar
Business Two Zero and Twinfield and WordFrame

Hosted accounting harder for vendors to do well

AnonymousUser | Wed, 18/03/2009 - 10:03 | Permalink

Microsoft ONLY does CRM? Hmm.

Microsoft never used to do CRM either, or ERP, but they have moved into both. That said, accounting software is harder to do as a vendor because of the ever changing regulation. I am not sure Microsoft could move fast enough to keep up. Unless they bought a vendor that is already successful in this area.

Ian Hendry
CEO, WeCanDo.BIZ
http://www.wecando.biz