IRIS APS Announces IRIS OpenBooks, a Cloud-based Bookkeeping Service for Accountancy Practices and their Small Business Clients

Online Bookkeeping Solution Liberates Small Businesses from Out-dated Technology and Spreadsheet Hell

Enables Accountants to Offer Online Bookkeeping and Real-time Business Advice to their Small Business Clients through a Live, Shared View of Each Clients Financial Position

Datchet, U.K. – May 18, 2010 -- IRIS Accountancy Practice Solutions (APS) has today announced IRIS OpenBooks, an online bookkeeping solution that liberates small businesses from out-dated technology and spreadsheet hell by providing jargon-free, easy-to-use, online bookkeeping. As an online service, IRIS OpenBooks ensures small business owners have 24x7 access to a clear and accurate view of their financial position, whether they are in the office, at home or on the move.

One of the major frustrations that exist between accountants and their small business clients is the ability to share an accurate view of the clients financial position in real-time. Historically small businesses turn to their accountants infrequently, for instance when their VAT or tax return is due. IRIS OpenBooks redefines this relationship by allowing accountants and their clients to collaborate using a single common system available on the web. Accountants are now able to provide significantly added value to their clients, by offering business advice at its point of need. Small business owners therefore benefit from better help and support from their accountant.

Phill Robinson, managing director of IRIS APS, said: “The majority of UK accountancy firms are unable to adequately support their small business clients, due to infrequent communication, and the low quality of bookkeeping data often provided by business owners. IRIS OpenBooks overcomes these problems and allows practices to enhance their service offering to small businesses. Not only does this allow accountants to add greater value to their smallest customers, the process for doing so has become much more efficient and, subsequently, more profitable.”

Robinson goes on to say: “Bookkeeping software is used by many small businesses, but is often difficult to use or shrouded in jargon. Others may be stuck using spreadsheets. IRIS OpenBooks is a no-nonsense easy to use, jargon free web-based solution that is designed to help small businesses get control of their finances, whilst also giving the same real-time picture to their accountant.”

IRIS OpenBooks is a true SaaS (Software-as-a-Service) based application with both the platform and customer data hosted securely online. It incorporates a UK-specific, tax-aware accounting engine, which automates many bookkeeping tasks and accelerates the compliance process. It is also extremely easy to use, ensuring that small businesses can provide high-quality bookkeeping data to their accountant.

Robinson concluded: “Previously, industry commentators have suggested businesses need to choose between the existing software installed and running within their premises or take advantage of newer Cloud-based internet software solutions. IRIS now blends the benefits of both, allowing customers to leverage their existing “On-Premise” accountancy software without the need for change, whilst exploiting web and internet technologies where there is compelling business benefit. IRIS OpenBooks has the potential to completely change the relationship between accountants and their small business customers, many of whom include the 500,000 new businesses that are formed in the UK each year.”

IRIS APS exclusively sells IRIS OpenBooks through UK accountancy firms, to enable them to offer their own online bookkeeping service to their small business clients, which in turn will dramatically change the way that they interact with each other. IRIS OpenBooks is fully integrated with the IRIS Practice Suite, and also works with IRIS products sold under the PTP and Drummohr brands. Today, half of all UK accountancy practices rely on IRIS to run their business, for instance, using IRIS Practice Suite, to supply services to the UK small business community. Integration between IRIS OpenBooks and IRIS Practice Suite will streamline the entire process of running their business.

To find out more about IRIS OpenBooks please see: http://www.iris.co.uk/irisopenbooks

About IRIS
IRIS Software & Services is the UK’s largest privately-held software company. It serves the UK accountancy sector under three brands; IRIS, PTP and Drummohr. It is the market-leading provider of fully integrated software and services to UK accountancy firms. The company has over 14,000 accountancy practices of all sizes and has 40 per cent of the country’s top 50 firms as clients. IRIS OpenBooks is powered by FreeAgent. IRIS is headquartered in Datchet, UK. More details at: www.iris.co.uk as well as the company’s official CEO blog at: http://www.irisblogs.co.uk/.

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