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Capium providing Accountancy Services

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Been using capium for sometime but found out from a colleague that one of the directors, who is an IT Consultant has recently formed a company to provide Accountancy services. Considering they are holding all our clients' data and as per GDPR people can be contacted for marketing purposes, I am wondering if Capium will eventually try and start providing Accountancy services and start approaching our clients directly. Might be a huge assumption but I just can not see any valid reason why an IT Consultant, who has made an Accountancy software would like to provide Accountancy Services?

Seriously considering not renewing my membership, luckily not all client details were ever loaded on the software but I am just wondering if this is ethically right of them to do? I could have understood if one of the directors was an Accountant but IT Consultant becoming Business Advisor-Accountant?

Should we not have some sort of check and balance?

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By 1 2
19th Jul 2018 11:11

I can understand you being nervous.

Not quite the same but QDOS (predominantly insurance company, especially around things like IR35) started offering contractor accountancy services a few years ago. We were promised no interaction between the two divisions.

On the whole I believe that has happened...though one client who we pointed QDOS's way for insurance did forward us an email from QDOS accounting trying to poach them (the client wasn't impressed and thought we should know). I forwarded that to the QDOS CEO who assured me it was an isolated mistake and would not happen again.

We're only aware of that happening once in several years, and given the number of our clients who have insurance via QDOS, I still have faith in them. Also I don't think we've lost any clients to QDOS accountancy, so even if they have been trying, they haven't been successful...yet.

Obviously I have no idea if/how Capium might abuse any potential opportunities like this...but thought the above may be of marginal interest.

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Replying to Maslins:
By weuk
24th Jul 2018 10:28

Thank you for the reply. My concerns are exactly as you stated.

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By 2shpatel
22nd Jul 2018 12:39

Just saw this and thought to respond and nip this in the bud. Capium does not provide accounting services and have no plans to do so. In fact we refer our accountants to businesses who wish to seek accounting services.

We continue developing fantastic products for our clients, which has and always will be our primary mission. Believe me when I say we have a lot going on here alone, let alone think about setting up an accounting division :)

To provide a bit of context to this, one of the founders has sadly decided to take a break from the business (which the rest of us respect and honour). As I'm sure you understand, this does happen in business, but the show still goes given, we are growing stronger and stronger. It's a testament that we have grown over the past few years to allow this to happen.

To re-iterate - Your data is always your data and it would be suicidal for us to contact them; so you have utmost confidence in this.

If you have any questions on this, feel free to contact me directly.

All the best,

Tush Patel
Co-founder @ Capium

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Replying to 2shpatel:
By weuk
24th Jul 2018 10:22

Dear Tush

Thank you for the reply though I find it very hard to believe most of what you have said. You have failed to answer the actual aggrievance mentioned in my post.

Rather you have gone on a different tangent and mention the founder taking a break, not sure since when did taking a break meant turning from an IT Consultant to a Business Advisor-Accountant.

Nevertheless, I can see changes have been made.

Hoping the concerned founder has no access to Accountant or Client data.

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