Press Release

Abacus conducted a review of the entire range of online accounting software products that are currently on offer in the UK marketplace and selected KashFlow as its provider of choice.

The software package will be white-labelled in order to facilitate it being branded as the Abacus Accountancy Network and is currently being recommended to the company’s entire network of accountants who will, in turn, recommend it to their client base that is currently comprised of over 5000 businesses and rapidly growing.

Speaking about winning the contract the Managing Director of KashFlow, Duane Jackson said,

“We're delighted to have been chosen as the exclusively recommended online accounting software for the abacus network of accountants. Having met most of the accountants in their network, the thing that really struck me was how pro-active they all are.”

He continued, “This sits well with our ethos of enabling accountants to focus more on their roles as knowledgeable advisors and not have to worry about making sure their clients are maintaining accurate and up-to-date records."

Managing Director, abacus Franchising Company ltd, Stephen Jackson, said,

“After extensive market research of online products, there was in my opinion only one choice, KashFlow. They have robust systems, flexible approach to client needs ensuring the product is tailored for each individual client’s requirements without losing the capability of integration with statuary accounts production packages such as CCH.

“As a company kashflow have a strong client orientated ethos, and a very friendly and approachable management style.

“I am looking forward to a long and successful association between our two companies.”

As part of the contract process, representatives from KashFlow, including the Managing Director, travelled to the abacus Franchising Company Annual Conference in June in order to demonstrate the software’s capability and functionality to existing franchisees.

Currently, over 25% of abacus accountants use the KashFlow software with a further 25% expected to make the switch by the end of August. The company is the only franchise approved by the British Franchise Association (BFA) that stipulates that their accountants must have qualifications from one of the UK’s recognised accountancy bodies.

The latest significant contract win comes at an exciting time for KashFlow who also recently signed a partnership deal with global payment gateway provider PayPal as well as TaxAssist Accountants.

The company is also in discussions with a major international company to deliver further relevant services to its users and hopes to make an announcement about this shortly.

Speaking about the company’s wider growth and business strategy moving forward, Duane Jackson of KashFlow said,

"We've taken the strategic decision to focus on what we do best - providing easy to use accounting software. To deliver other value-added services, we are integrating with other companies that excel in their own particular area of business.”

Payment processing, payroll and accounts production aren't our main area of competency, so rather than produce a second-rate product to cover the additional needs of our customer base, we're instead actively working on providing close integration with key players in these industries.