US accounting and business app OneUp is starting to talk about challenging the industry’s software giants in the UK.
As its website proudly proclaims, the OneUp was designed in California as a “mobile first” all-in-one business program that handles invoicing, accounting, stock and customer relationship management (CRM).
The app runs on multiple devices and connects the point of sale to inventory levels as well as CRM– so the app can remind users when they need to reorder stock, and when they should follow up with prospects.
OneUp integrates with bank feeds so clients can view and validate transactions on their mobiles. A white label edition is available for accountants who want to support client accounting within their own branded web portal, giving the adviser a way to check-over and close the books.
The automated bank transaction posting facility is OneUp’s main selling points, according to Sebastien Burger, VP Business Analyst at OneUp.
“We believe that CPAs and their clients wish to focus on analysing results and taking better business decisions rather than spending time and money entering data using old-fashioned accounting software,” he said.
As well as prioritising the mobile experience, OneUp has incorporated machine learning from its earliest stages and was recently hailed by Jean Baptiste Su of Atherton Research as one of the most accurate AI accounting solutions. OneUp achieved 95% accuracy recognising transactions from bank feeds compared to QuickBooks Online (77%), Xero (38%) and SageOne (30%).
This level of accuracy can reduce the time it takes to close the books at month end from hours to minutes, Burger said.
OneUp may attract headline attention across the Atlantic, but is less well known in the UK, where Xero, QuickBooks Online and Sage are courting as in the US, were it is one of the major accounting software vendors. Nevertheless, a UK edition is available from £9 for sole traders, rising to £169 a month for an unlimited user licence for all the purchasing, inventory, project, logistics and finance modules.
“OneUp launched in a UK compliant version five years ago,” said Burger. “The UK market represents a growing part of our 800,000 installed users, approximately 10%, and we plan to more than double our installed base in 2018.”