Ever heard of Reckon? Here are eight little-known facts about the cloud accounting software provider:
Who is Reckon? Reckon is an Australian-based accounting software vendor. It’s a publicly-listed ASX company employing more than 500 people around the world. It’s a company that’s long been well-established in NZ.
Who are their clients? The Reckon cloud hosted offering has 600,000 active customers and growing across Australia, New Zealand, and the UK.
The company is separated into two divisions - the business and accounting groups. The business group is the actual accounting software that businesses would use. The accounting division has a totally separate software used by accountants to pull together all their clients’ data into one place.
Within the business group, they have three product sets - a desktop application, Reckon One and Reckon Hosted. Reckon Hosted is similar to the desktop product, but is hosted on the Amazon Web Services data centre and has a complete web browser experience.
Reckon One is its cloud accounting offering, launched in Sept 2015, and developed in New Zealand. Since then, they have implemented 500 new features and are constantly looking to bring more to it, such as inventory features that are currently being developed. Reckon One is the ultimate as-a-service accounting software with a high level of customisation available. Clients can sign up for modules with features they need, and pay only for those. The core product starts at $5 but there are also bank fees, invoicing, projects that you can add to them. Clients with seasonal businesses can turn these features off in their off season months, and the data remains accessible in read-only mode when features are turned off.
Reckon is on the IRD’s software development liaison unit, helping to smooth the compliance issues accounting software will be facing as the IRD continues to roll out more of its digital bookkeeping initiatives.
The Reckon office in New Zealand has 80 developers writing code for Australia and New Zealand. It’s about to undergo a refit to include more organic, open, and collaborative workspaces in order for it to better support its shift to Agile methodology, a method of project management.
Looking ahead, the company is looking to implement a lot more artificial intelligence in its future offerings, mainly around dashboards that can collate relevant data into a single view to help business owners identify trends, highlights and issues in their business.