The UK cloud market got a little bigger at Accountex 2016 when Australian software house Reckon launched its UK iteration of Reckon One.
Reckon One is the new name of document management specialist Lindenhouse Software, known for its product Virtual Cabinet. The Cambridge company joined the Reckon stable in 2012, and has now completed its full rebrand.
According to Mark Woolley, Reckon One’s commercial director, Lindenhouse’s solid customer base offers the Australian brand a good launchpad into the UK to make the first steps into a crowded market a little easier.
Despite the UK market’s maturity, Woolley said cloud accounting still has a lot of potential. “Surprisingly few microbusinesses have made the leap to cloud,” he said. “That’s who we’re after.”
Reckon is appealing to this sector with a starting price of £3 a month – a key element in Reckon One’s strategy to gain a foothold in the UK. The £3 will give users access to the core module, which Woolley likens to a simple cash book. To scale up, a user would add in other elements from Reckon One’s catalogue of other modules, which include bank data feeds, invoicing, time and expenses, and projects. Each new module will add around £2 extra onto Reckon One’s price, explained Jon Martingale, Reckon One’s product manager.
The software also leaves room for seasonal work, allowing users to drop in and out as their work requires. “They can turn it on for three months and then leave it for the rest of the year as required,” said Woolley.
The key idea behind Reckon One is essentially pick and mix. The user curates the modules that suit their needs. This is central to Reckon One’s attempt to capture the majority who still aren’t on the cloud.
“Many micro-businesses don’t want to pay too much,” said Woolley, “and to make the jump from Excel, they need to have freedom to choose how they use a product”.
The software will grow alongside its user, said Woolley. “The software can be used by the smallest microbusinesses, but we also have modules that cater for VAT registered businesses,” said Woolley.
The service can be accessed from desktop, laptop and a mobile app available on both iOs and Android. Reckon also has a free app called Reckon Invoices.
“Many potential customers already have smartphones, they already have the tools to make the jump to the cloud,” said Woolley. “We recognise that, it’s a big part of our strategy.”
Payroll is missing from Reckon One’s portfolio, but Martingale said Reckon isn’t really after that market. “Most people, if they’re using Sage’s payroll product, for example, aren’t going to move away from that,” he told AccountingWEB. “We’d rather concentrate on what difference we can make.”