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Funding boost fuels AccountsIQ brand revamp

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Award-winning mid-market cloud accounting software house AccountsIQ revamped its brand this month to appeal to a more tech-savvy marketplace.

28th Jul 2021
Editor in Chief AccountingWEB
Columnist
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AccountsIQ, the Dublin-based winner of the mid-market and enterprise Accounting Excellence software awards in 2018 and 2019, recently raised €5.8m in funding from Netherlands-based venture capital firm Finch Capital and Enterprise Ireland.

Some of that cash went into a strategic overhaul that included a refresh of its brand and logo.

More than just a new look

“This rebrand represents much more than a new look. It’s repositioning AccountsIQ as a technology brand,” said AccountsIQ head of marketing Jeni Peacock.

To further the company’s mission to deliver “future-proofed accounting software”, the revamp has taken in every aspect of the product, customer experience and support, she added.

“We have been aiming our product at accounting practices, but are also seeing big growth in the financial services and wealth management sectors. Some investors in these markets manage 100+ assets and want to capture costs and business intelligence for multiple entities. They’ve got complex reporting needs and want to see summary information quickly,” Peacock explained.

They are also used to dealing with agile cloud technology brands. To compete in that arena, “We want to be akin to a fast fintech,” she added.

User-driven enhancements

To reinforce the transition, AccountsIQ developers are working on enhancements driven by user feedback in key areas such as accounts payable, bulk payments, Open Banking and reporting.

Currently undergoing tests with users in the field, an “AP Inbox” module will automate payables and approval processes.

For more flexible visual reporting, AccountsIQ has added a connector to make data in AccountsIQ available for analysis and reporting in Microsoft Power BI. This additional output option will supplement the 250 dashboards and reports already included within AccountsIQ, Peacock said.

For AccountsIQ founder and CEO Tony Connolly the company will still be driven by its desire to help finance leaders become more effective and grow their business.

“AccountsIQ was designed by accountants for accountants to streamline and automate the capture, processing and reporting of financial performance across multiple entities, locations and currencies,” he said. “But we don’t stand still. We believe we can always do more to help our customers work smarter.”

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