It will be “business as usual” for Keytime despite being acquired by IRIS, according to the company’s founder James Cryne.
There were nervous comments from some AccountingWEB members when IRIS’s latest acquisition was announced yesterday, but Cryne is eager to lay the fears to rest.
“Our view is that we’re still an independent company still functioning as Keytime within the IRIS Group and the products we have will continue to be developed and we’ll look into enhancing those products and adding some new products to the portfolio,” said Cryne.
Cryne said that there is no shake-up due for Keytime’s exisiting clients. The company will, however, be looking to offer complementary products such as IRIS OpenSpace to its customers.
“It will give our clients the ability to interact with their own clients via the cloud and integrate that in with our desktop products,” said Cryne.
John Coldicutt, the chief marketing officer of IRIS, also sought to allay the fears of existing Keytime customers.
“Keytime has created something special in the way they work with their customers and their products,” said Coldicutt.
“We’re grown up enough as a business to know that tinkering with that is only going to create risk. We want this part of our business to flourish and grow. We know that doing anything to alienate customers is not going to help us to achieve that.”
Coldicutt batted back the comparison of IRIS’s recent acquisitions to Sage’s growth-by-acquisition strategy of the 1990s.
“We’re not looking to copycat Sage’s strategy,” said Coldicutt. “For us, it’s about making sure that small businesses in the UK are as successful and as organised as possible. As we develop this strategy, every time we look at a capability that the market requires we go through a build, buy or partner discussion – and this time was no different.”
As for the year ahead, Coldicutt said IRIS have no further acquisitions immediately planned – but he “wouldn’t rule anything out for the year ahead”.
About Francois Badenhorst
Francois is a writer, editor and broadcaster specialising in business.