Cloud-based software company, Reckon (ASX:RKN), is expanding its Australian Cloud accounting software offering overseas with the launch of the company’s flagship SME software, Reckon One, in the UK.
Reckon is now officially live in the UK, with the software offering a full suite of accounting services, automatic compliance updates, superannuation and leave tracking. In addition to the UK, Reckon also operates in the US and New Zealand.
Reckon CEO, Clive Rabie, said the UK represents a major target market for Reckon One, with the country supporting 5.4 million private sector businesses, of which 99.9 per cent are SMEs.
According to Rabie, the UK possesses a high level of technological literacy but only a small portion of SMEs are utilising Cloud-based accounting solutions.
“The size and demographics of the UK’s SME market represents a compelling opportunity for Reckon. We are well positioned to own the market and educate businesses on the future of online accounting, and support SMEs as they grow from startup to success.
“Our expansion of Reckon One into the UK illustrates our commitment to long-term growth within the company and will cement our reputation as a trusted and innovative software provider,” he said.
Rabie added that unlike the company’s major competitors, it has built Reckon One entirely in-house using exclusively Australian resources.
“We are enormously proud to be expanding and taking on companies in the UK.
“The news caps-off an exciting 12 months for Reckon. We have launched Reckon One, added a payroll module which has expanded the product’s reach from sole-traders to SMEs and large businesses, and we are now launching the completed product internationally,” he said.