Online accounting system – e-conomic blog » Press http://blog.e-conomic.co.uk dialogue on the e-conomic accounting system Sat, 31 Jul 2010 04:00:31 +0000 http://wordpress.org/?v=abc en hourly 1 Online Accounting Revolution http://blog.e-conomic.co.uk/online-accounting-revolution/ http://blog.e-conomic.co.uk/online-accounting-revolution/#comments Fri, 28 May 2010 09:40:51 +0000 Kirsten Bjornsbo http://blog.e-conomic.co.uk/?p=2021 Online Accounting Revolution is a post from: Online accounting system – e-conomic blog

]]> Many new and current SME’s have realized that online accounting provides benefits both for themselves and their accountant that a regular bookkeeping system just doesn’t do.

Access from anywhere with an internet connection, real-time viewing of accounts together with your accountant, and security that is reliable are all aspects that attract numerous businesses.

PwC, one of the largest international accountancy firms has just released a report with evidence of an increase in online accounting of greater than 40% over the past two years.

The SME’s included in the report were very open-minded  towards  implementation of new technology and pleased with the idea of saving money at the same time.

More of PwC experiences can be read on our news page.

Online Accounting Revolution is a post from: Online accounting system – e-conomic blog

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]]> http://blog.e-conomic.co.uk/online-accounting-revolution/feed/ 0 E-conomic launches in Spain http://blog.e-conomic.co.uk/e-conomic-launches-in-spain/ http://blog.e-conomic.co.uk/e-conomic-launches-in-spain/#comments Thu, 07 Jan 2010 16:51:38 +0000 Jacqui Sullivan http://blog.e-conomic.co.uk/?p=1420 E-conomic launches in Spain is a post from: Online accounting system – e-conomic blog

]]> E-conomic is very pleased to announce today the establishment of its operation in Spain.

This growth brings the firm’s international reach to six countries including Denmark, Norway, Sweden, and the UK and is part of a strategic expansion programme which will see the business established in 12 countries by 2012.

E-conomic launches in Spain is a post from: Online accounting system – e-conomic blog

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]]> http://blog.e-conomic.co.uk/e-conomic-launches-in-spain/feed/ 0 E-conomic UK appoints Communications Director http://blog.e-conomic.co.uk/e-conomic-uk-appoints-communications-director/ http://blog.e-conomic.co.uk/e-conomic-uk-appoints-communications-director/#comments Mon, 16 Nov 2009 17:34:27 +0000 Anders Bjørnsbo http://blog.e-conomic.co.uk/?p=1302 E-conomic UK appoints Communications Director is a post from: Online accounting system – e-conomic blog

]]> E-conomic is pleased to announce that Marilyn Messik joins us as Communication Director. Marilyn has communication experience in a wide variety of different business arenas although, as she keeps pointing out, she’d label herself more technophobe than phile! 

However, she has already indicated in no uncertain terms, that’s probably not a bad thing since everyone else around here seems to only talk in three letter acronyms and she looks forward to translating what we’re talking about into everyday language, so everyone can understand!

Read more about Marilyn in our Newsletter

E-conomic UK appoints Communications Director is a post from: Online accounting system – e-conomic blog

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]]> http://blog.e-conomic.co.uk/e-conomic-uk-appoints-communications-director/feed/ 2 Payroll integration with e-conomic http://blog.e-conomic.co.uk/payroll-integration-with-e-conomic/ http://blog.e-conomic.co.uk/payroll-integration-with-e-conomic/#comments Thu, 05 Nov 2009 17:43:49 +0000 Jacqui Sullivan http://blog.e-conomic.co.uk/?p=1261 Payroll integration with e-conomic is a post from: Online accounting system – e-conomic blog

]]> The online Payroll solution MyPAYE is now fully integrated with e-conomic which means you can now run your payroll and update e-conomic with one click. This partnership with MyPAYE is an important step forward towards the future of an affordable and truly integrated online solution for SMEs.

Find out more about this

Payroll integration with e-conomic is a post from: Online accounting system – e-conomic blog

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]]> http://blog.e-conomic.co.uk/payroll-integration-with-e-conomic/feed/ 2 e-conomic survey into accountants lifestyle http://blog.e-conomic.co.uk/e-conomic-survey-into-accountants-lifestyle/ http://blog.e-conomic.co.uk/e-conomic-survey-into-accountants-lifestyle/#comments Thu, 15 Oct 2009 09:21:40 +0000 Jacqui Sullivan http://blog.e-conomic.co.uk/?p=1101 e-conomic survey into accountants lifestyle is a post from: Online accounting system – e-conomic blog

]]> We surveyed 2,000 accountants to find out the true state of their work/life balance and what impact technology and in particluar online accounting could have on their daily lives. It makes very interesting reading. Let us know how you manage or have you got it sorted ? we would be interested to hear.

read our findings

e-conomic survey into accountants lifestyle is a post from: Online accounting system – e-conomic blog

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]]> http://blog.e-conomic.co.uk/e-conomic-survey-into-accountants-lifestyle/feed/ 2 Vantis moves to e-conomic http://blog.e-conomic.co.uk/vantis-moves-to-e-conomic/ http://blog.e-conomic.co.uk/vantis-moves-to-e-conomic/#comments Fri, 09 Oct 2009 16:55:59 +0000 Jacqui Sullivan http://blog.e-conomic.co.uk/?p=1056 Vantis moves to e-conomic is a post from: Online accounting system – e-conomic blog

]]> Dennis Howlett, the never knowingly under opinionated independent software consultant interviews Richard Messik, the Vantis partner responsible for the groups online accounting projects on the many advantages of moving over to e-conomic and how Vantis are ramping up to move the first 200 online clients over to the e-conomic system by the end of December, with more to follow in the New Year.

Listen and enjoy!

Vantis moves to e-conomic is a post from: Online accounting system – e-conomic blog

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]]> http://blog.e-conomic.co.uk/vantis-moves-to-e-conomic/feed/ 0 Microsoft cooporation – Online CRM http://blog.e-conomic.co.uk/microsoft-cooporation-online-crm/ http://blog.e-conomic.co.uk/microsoft-cooporation-online-crm/#comments Thu, 20 Aug 2009 12:49:24 +0000 Anders K. Hansen http://blog.e-conomic.co.uk/?p=815 Microsoft cooporation – Online CRM is a post from: Online accounting system – e-conomic blog

]]> Just before Summer we had the pleasure of soft launching the integration betweeen e-conomic and Microsoft CRM. The “potential poster childs” were up-and-running, data could start flowing between the two applications.

microsoft-dynamics-crm-logo_hq

Microsoft were not the early bird of SaaS CRM offerings – nor the first CRM application to integrate with e-conomic.

Or as Bjorn Eilertsen of Microsoft puts it: “Microsoft may not be a first mover on the hosting market, but we want to be a fast mover”.

eilertsen_-_hansen_27_reduced

Thanks to Rachael Singh from Accountancyage.com for the article.

I was somewhat startled by the header claiming that “Microsoft has  joined forces with e-conomic”. In my non-english native ears this sounds just a bit  overly enthusiastic. But yes, we are indeed proud to hold this cooporation with Microsoft, enabling for bringing even more integrations into the SaaS marketspace.

Monoliths being part of the past.

[UPDATE: AccountingWeb also decided to post on this subject ]

Microsoft cooporation – Online CRM is a post from: Online accounting system – e-conomic blog

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]]> http://blog.e-conomic.co.uk/microsoft-cooporation-online-crm/feed/ 0 Mixam successfully tackles credit management with e-conomic and TAK-Outsourcing http://blog.e-conomic.co.uk/mixam-successfully-tackles-credit-management-with-e-conomic-and-tak-outsourcing/ http://blog.e-conomic.co.uk/mixam-successfully-tackles-credit-management-with-e-conomic-and-tak-outsourcing/#comments Mon, 10 Aug 2009 14:48:30 +0000 Jacqui Sullivan http://blog.e-conomic.co.uk/?p=807 Mixam successfully tackles credit management with e-conomic and TAK-Outsourcing is a post from: Online accounting system – e-conomic blog

]]> Mixam Ltd, a specialist UK printing firm in the UK, successfully reduces its debt by £65,000 in less than three months using online accounting software.

During a recession it is more important than ever to keep on top of debtors – nearly 5,000 businesses became insolvent in the first quarter of 2009, up 56% on this time last year. A good online accounting solution can help businesses to manage their finances better as Mixam found out. By choosing online accounting software e-conomic, Mixam is able to benefit from using an outsourced credit control service, which has reduced its outstanding debt by £65,000 in less than three months.

Mixam is a young successful company that has grown rapidly since its inception two years ago. Rami Zetuny, Mixam Director said: “As with many businesses, our management team focused heavily on winning and retaining clients in the early years and consequently some business processes had been neglected. In fact, it came to light that there was a problem with unpaid customer invoices, which in total amounted to over £100,000 and dated back nearly a year.”

Mixam chose e-conomic as its accounting software because, being online, it is possible to get instant up-to-date accounts from anywhere in the world. This proved to be the ideal when Mixam opted for credit management firm TAK-Outsourcing Ltd to manage its credit control. Despite being physically hundreds of miles apart, TAK can work seamlessly as part of Mixam’s business using e-conomic in a way that’s not possible with traditional accounting software.

Rami continued: “Handing over responsibility for credit control to TAK has meant that we have been able to concentrate on growing the business, safe in the knowledge that the sales ledger would be managed in a pro-active and professional manner. e-conomic has been very beneficial in facilitating a smooth partnership between the companies and it is very easy to use. Directors can access the most recent copy of our accounts at anytime and have a clear picture of the company’s finances.”

e-conomic is an online accounting system, which is provided as Software as a Service (SaaS), meaning that companies access the system through a web browser. There are no installation costs, upgrades are continuous and free, and support is unlimited. The basic subscription of £12.99 for businesses includes all the core finance modules needed by a business – general ledger, accounts payable, accounts receivable and electronic invoicing – plus a number of innovative time-saving features such as automated bank reconciliation and direct integration with Microsoft Excel. Additional modules are available including stock management, project accounting and scanning. e-conomic does not charge for the administrator’s module which is free to accountants and bookkeepers. e-comomic is used by nearly 20,000 companies and 3,000 bookkeepers/accountants.

Mixam successfully tackles credit management with e-conomic and TAK-Outsourcing is a post from: Online accounting system – e-conomic blog

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]]> http://blog.e-conomic.co.uk/mixam-successfully-tackles-credit-management-with-e-conomic-and-tak-outsourcing/feed/ 2 e-conomic cleans up its pricelist and delivers dramatic savings compared to Sage http://blog.e-conomic.co.uk/e-conomic-cleans-up-its-pricelist-and-delivers-dramatic-savings-compared-to-sage/ http://blog.e-conomic.co.uk/e-conomic-cleans-up-its-pricelist-and-delivers-dramatic-savings-compared-to-sage/#comments Tue, 30 Jun 2009 16:18:33 +0000 Mark Davies http://blog.e-conomic.co.uk/?p=630 e-conomic cleans up its pricelist and delivers dramatic savings compared to Sage is a post from: Online accounting system – e-conomic blog

]]> I am pleased to announce that we are revising our pricing for subscription invoices sent on or after 1st July 2009.  The new prices, which apply for both existing and new customers, include reductions in the base subscription and the cost per additional user.

This is the first time that we’ve revised our pricing since the company was launched over 8 years ago, which is a testament to the decision made at that time to adopt the model of a simple fee structure for companies plus free use for accounting and bookkeeping practices.  We remain committed to the provision of free access for users within accounting or bookkeeping practices as we believe it to be the most compelling long-term model in the market.

So why are we making these changes?  Primarily because we want to make our pricing even more simple and transparent than it was before.  We were already maintaining a competitive pricing level, especially when you take into account that e-conomic is a complete accounting solution that provides functionality to suit both companies and accountants.  No other online accounting system has the same amount of basic functionality plus the level expandability that we provide through the optional add-on modules.

By making these changes we will maintain our competitiveness and resolve some anomalies in the way we used to charge for additional users within the Stock Management and Project Accounting modules.  Now there is just one price per additional user no matter which modules they have access to.

These price revisions will help us maintain our leading position as we work towards our target of over 100,000 companies using e-conomic by the end of 2011.

Here is a summary of the changes:

  • The monthly fee for Small and Standard subscriptions has been reduced to £12.99 and £24.99 respectively.
  • The number of transactions allowed at the “Small” subscription level has been increased four-fold.  Now you can have as many as 4,000 transactions per annum before being automatically upgraded to the “Standard” level.
  • The price for each additional user has been reduced to £6.99.  (The first user for each company is included with the “Small” or “Standard” subscription.)e-conomic-pricing-summary
  • The additional user charge is now consistent across all modules and types of user.  Moreover, it is only charged once rather than per module.  So the charge will be only £6.99 no matter how many add-on modules the user has access to, giving savings to customers using the Stock Management or Project Accounting modules for users who have access to more than one module.
  • The Dimension module is now free of charge, so that companies can utilise department/cost centre accounting at no extra charge.  Further dimensions will be added in the future.
  • The other add-on modules have had small roundings on their prices, some up and others down, but all customers will experience an overall decrease as a result of the reductions in the Small/Standard subscription levels.
  • The special Project accounting user types “Project manager” and “Time logger” continue as before, but at the new price of £6.99 (previously £13.50 and £4.50 respectively).  Most customers will realise savings because of the reduction for Project managers, but companies with large numbers of Time loggers may experience an increase and are welcome to contact us so that we can resolve any issues.

The effects of the changes and comparisons with Sage

The following examples show the effect of the changes on typical customers, including a price comparison against Sage using prices taken from their web shop last night.  I’ve compared with the Sage products that would typically be chosen as a starting point by most small or medium sized businesses.  In reality, e-conomic provides additional functionality that can only be found in even more expensive Sage products, which is why companies can start small and grow with e-conomic rather than having to switch software at a later date.

The cost of SageCover Extra has been included in order to provide a like-for-like comparison with the service provided by e-conomic which includes support and upgrades as standard.  All figures exclude VAT.

Example 1

Our charge for a Small subscription with one user has reduced by 4% to only £12.99/mth.

The cost of Sage 50 Accounts 2009 with one user, including 12 months SageCover Extra (for support and upgrades) is £1,015.00.  e-conomic gives a saving of 85% in year 1.

The price without SageCover is £550.00, implying that SageCover Extra costs around £450.00.  So e-conomic gives an ongoing saving in the 2nd and subsequent years of around 65%.

Example 2

Our charge for a Standard subscription with two users has reduced by 11% to just £31.98/mth.

The cost of Sage 50 Accounts 2009 with two users and SageCover Extra is £1,405.00.  Therefore e-conomic gives a saving of 73% in year 1.  SageCover Extra costs around £600, so e-conomic gives an ongoing saving of 36%.

Example 3

For a company requiring Stock Management and two users, a subscription to e-conomic has reduced by 24% to only £40.97/mth.

The cost of Sage 50 Accounts Plus 2009 with two users and SageCover Extra is £1,865.00.  Therefore e-conomic gives a saving of 74% in year 1.  SageCover Extra costs around £800, so e-conomic gives an ongoing saving of 39%.

In summary, e-conomic enables even small companies to afford a proper invoicing and accounting system and it provides extra value compared to other software through extra functionality (for example – automatic bank reconciliation, online invoicing, integration to Excel) and free access for accountants and bookkeepers so that they can access clients’ accounts in real time via the internet without having to travel or transfer files.

The fact that backups or upgrades are included in our service adds further value, so that both company and accountant/bookkeeper are always working on the same data, using the same software, while we take care of the technical issues.

e-conomic cleans up its pricelist and delivers dramatic savings compared to Sage is a post from: Online accounting system – e-conomic blog

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]]> http://blog.e-conomic.co.uk/e-conomic-cleans-up-its-pricelist-and-delivers-dramatic-savings-compared-to-sage/feed/ 2 e-conomic on ZDNet and AccountingWeb http://blog.e-conomic.co.uk/e-conomic-on-zdnet-and-accountingweb/ http://blog.e-conomic.co.uk/e-conomic-on-zdnet-and-accountingweb/#comments Thu, 19 Mar 2009 07:45:27 +0000 Kim Sneum Madsen http://blog.e-conomic.co.uk/?p=174 e-conomic on ZDNet and AccountingWeb is a post from: Online accounting system – e-conomic blog

]]> ZDNet
Phil Wainewright is an influential commentator and strategist on internet computing and its impact on business. Following a recent interview with e-conomic’s CEO, Torben Frigaard Rasmussen. Click to read what he wrote on ZDNet.

AccountingWeb
“Already there are e-conomic customers in 60 countries, and the product supports 160 currencies, although Zimbabwe’s hyper-inflationary dollar one of the few not currently supported. We don’t have support for the Zimbabwean currency because there were too many zeroes….” Click to read the article in which AccountingWeb follows up on our planned expansion.

e-conomic on ZDNet and AccountingWeb is a post from: Online accounting system – e-conomic blog

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