Web-based accounting software company KashFlow has confirmed it is ahead of its business growth schedule after reaching the 2,500 user milestone.
The company now has 2,400 paying SME customers using its software. 95% are UK-based businesses with the remaining 5% from throughout the world including Europe, UAE, Saudi Arabia, Canada, USA, South Africa, Singapore, Hong Kong and China.
In addition to the SME customers, KashFlow also has 120 accountancy practices that are paying members of its Partner Programme, including two of the UK's biggest accountancy franchises; Abacus and TaxAssist Accountants.
Duane Jackson, KashFlow founder and managing director, said,
“To reach so many monthly subscribers in such a short period of time is a magnificent achievement. We're very grateful to the thousands of users who have stuck with us, and recommended us, as KashFlow has evolved and grown into a market-leading product“
KashFlow has been gradually building its customer base and continuously improving its software since it was started with the help of a Princes Trust loan four years ago. It has since attracted praise from Bill Gates, Alistair Darling and Prince Charles.
In October 2008 KashFlow won the main Small Business Accounting Software category at the Software Satisfaction Awards, beating established offline products like Sage 50 and Quickbooks. The awards are based on a survey of actual users rather than the verdict of a panel of experts. The same survey showed that 70% of the votes in the web-based accounting software category were cast by KashFlow customers.
The 2,500 milestone has been reached in the week that major new competitor Sage Live has taken its beta test site offline amidst serious security concerns.
Jackson commented,
"I think they've done the right thing. Security is paramount for web-based applications. I hope Sage come back to the market later in the year with a more mature and more secure product. They need to get on board with SaaS or they'll continue to lose market share to us and other SaaS providers.
“Strong competition is healthy for us all. And the more quality products available in our sector, the more SMEs will realise web-based accounting software is the natural choice for their business.”
KashFlow is an online tool specifically designed to help owner managers in small businesses manage their accounts. KashFlow's aim is to take the boredom out of managing a company's accounts and to make the day to day tasks easier to achieve so that less small businesses neglect this area.
KashFlow keeps accounts management simple: it requires no installation, software training or prior knowledge of accountancy.
All users benefit from a free, no obligation 60-day trial. The monthly subscription price is £15.99 a month - including free support and upgrades.
For further editorial information, contact:
Carolyn Gordon-Smith
PR Manager
cgs@cimma.co.uk; 01386 859090 / 07710 537 928
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In June 2008, KashFlow became the first accounting software package to be certified by PayPal for integration with its payment platform. PayPal and KashFlow now work in partnership to provide a seamless, end-to-end, payment processing and accounting system.
In October 2008 KashFlow won a Business Software Satisfaction award, judged entirely by customer feedback, for the category of small business accounting - beating the likes of Sage 50, Quickbooks Pro and MYOB. Statistics revealed by the awards organisers show that KashFlow has a 70% share of the web-based accounting software market in the UK.
KashFlow has received two rounds of venture capital funding from their now chairman, Lord Young of Graffham. Lord Young is a former Secretary of State for Trade & Industry and ex Chairman of Cable and Wireless.
KashFlow is simple to operate, with users instinctively knowing where to click to perform almost any accountancy task.
Owner managers are able to effectively manage their accounts with no need for software training or prior knowledge of accountancy.
KashFlow has been featured in the likes of the Financial Times, Daily Mail, The Daily Telegraph, The Mail on Sunday, BBC Radio and all the leading accounting titles.
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