KashFlow signs international SaaS distribution deal with BAG Networks, Brunei

Thursday, 30th July 2009 - For Immediate Release

UK software company KashFlow has today signed a deal with BAG Networks to supply online accounting software to Southeast Asia.

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Chairman:
The Rt Hon Lord Young of Graffham

Founder & CEO:
Duane Jackson

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BAG Networks is a joint venture company between the Brunei Government and Accenture.
The KashFlow software was the first in the world to be certified by PayPal for automating accounting and has won numerous awards in the UK, including beating FTSE100 giant Sage to win the coveted “Best Small Business Accounting Software” award in a survey of small business owners by the Software Satisfaction Awards.

The software will be marketed under the brand name “Ikhlas”, provided via www.ikhlas.com.bn. Ikhlas is the Brunei Malay word meaning “sincerity and honesty”.

Haslina Taib, CEO of BAG Networks, said “ We needed a simple, easy to use system that does not have excess 'accounting jargon'.
Faizul Yahya, the Team Lead of the Ikhlas team, said that he had singled out KashFlow from a competitive marketplace based on its suitability for local uses. As a result of market research into the needs of the local users, the team has found KashFlow to best meet the requirements of local SMEs within the price range. “We were also very pleased with the level of local technical support and encouragement from their end. One of their strong points is the simplicity and intuitiveness of the Service ”, Faizul explains.

KashFlow founder and CEO Duane Jackson said “We’re really pleased to have been chosen from what is a very competitive range of SaaS accounting applications.”

“Entering foreign markets is always a challenge due to the cultural differences. I believe working closely with local organisations as we are here should make an overseas launch much more effective"

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About KashFlow

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.

Contacts

For further editorial information, contact:

Carolyn Gordon-Smith
PR Manager
cgs@cimma.co.uk
01386 859090 / 07710 537 928

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Notes to Editors

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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