KashFlow Blasts Through 2,500 Customer Milestone as SaaS Competitor Stands Down

Discussion in 'Press Releases' started by DuaneJackson, Jan 29, 2009.

  1. DuaneJackson

    DuaneJackson UKBF Legend Free Member

    9,523 1,118
    Thursday, 29th January 2009 - For Immediate Release

    Web-based accounting software company KashFlow has confirmed it is ahead of its business growth schedule after reaching the 2,500 user milestone.
    The company now has 2,400 paying SME customers using its software. 95% are UK-based businesses with the remaining 5% from throughout the world including Europe, UAE, Saudi Arabia, Canada, USA, South Africa, Singapore, Hong Kong and China.
    In addition to the SME customers, KashFlow also has 120 accountancy practices that are paying members of its Partner Programme, including two of the UK's biggest accountancy franchises; Abacus and Tax Assist.

    Duane Jackson, KashFlow founder and managing director, said,
    “To reach so many monthly subscribers in such a short period of time is a magnificent achievement. “

    KashFlow has been gradually building its customer base and continuously improving its software since it was started with the help of a Princes Trust loan four years ago. It has since attracted praise from Bill Gates, Alistair Darling and Prince Charles.

    In October 2008 KashFlow won the main Small Business Accounting Software category at the Software Satisfaction Awards, beating established offline products like Sage 50 and Quickbooks. The awards are based on a survey of actual users rather than the verdict of a panel of experts. The same survey showed that 70% of the votes in the web-based accounting software category were cast by KashFlow customers.

    The 2,500 milestone has been reached in the week that major new competitor Sage Live has taken its beta test site offline amidst serious security concerns.

    Jackson commented,
    "I think they've done the right thing. Security is paramount for web-based applications. I hope Sage come back to the market later in the year with a more mature and more secure product. They need to get on board with SaaS or they'll continue to lose market share to us and other SaaS providers.

    “Strong competition is healthy for us all. And the more quality products available in our sector, the more SMEs will realise web-based accounting software is the natural choice for their business.”

    For more information, see the KashFlow blog: http://blog.kashflow.co.uk/2009/01/29/2500-customers/
    Posted: Jan 29, 2009 By: DuaneJackson Member since: Jul 14, 2005
  2. wilfredw

    wilfredw UKBF Newcomer Free Member

    320 15
    LOL: An I'm supposed to believe that. It's almost like the Chelsea fans wishing Arsenal a better year ;)
    Posted: Jan 29, 2009 By: wilfredw Member since: Nov 22, 2004
  3. cjd

    cjd UKBF Legend Full Member - Verified Business

    15,445 3,069
    Ah, how many time have I heard 'we welcome company X to the marketplace' and similar disingenuous statements. Enough to make your teeth bleed :)

    Good milestone though, well done.
    Posted: Jan 29, 2009 By: cjd Member since: Nov 23, 2005
  4. HC-Martin

    HC-Martin UKBF Newcomer Free Member

    1,717 67
    Well done mate - great work!
    Posted: Jan 29, 2009 By: HC-Martin Member since: Nov 11, 2006
  5. Chris Ashdown

    Chris Ashdown UKBF Legend Free Member

    12,192 2,542
    Well done duane, bu myself I would never have given the numbers out, far to helpfull to others
    Posted: Jan 29, 2009 By: Chris Ashdown Member since: Dec 7, 2003
  6. Chris Ashdown

    Chris Ashdown UKBF Legend Free Member

    12,192 2,542
    Well done duane, but myself I would never have given the numbers out, far to helpfull to others
    Posted: Jan 29, 2009 By: Chris Ashdown Member since: Dec 7, 2003
  7. Martin P

    Martin P UKBF Newcomer Free Member

    341 80
    Well done;)
    Posted: Jan 29, 2009 By: Martin P Member since: Nov 20, 2008
  8. Peter Bowen

    Peter Bowen UKBF Enthusiast Free Member

    853 230
    David 1, Goliath 0
    Posted: Jan 30, 2009 By: Peter Bowen Member since: Jul 2, 2007
  9. Guest

    0 0
    I dont think it is a good release - because of customer perceptions of how big an accounts software company should be.

    If you asked someone how many sage users are there, their answer would probably be "millions"

    Makes 2500 sound a paltry number - and in the eyes of many readers will make them sound too small and flaky to trust

    On the other hand "bill gates praises Kashlow" - is seriously PR able

    "Kashflow now known by the worlds biggest businessmen"

    "prince charles" praises Kashlow makes you a basket case.

    hope your architecture looks OK - or he will giveyou an architecture lesson
    Last edited by a moderator: Jan 30, 2009
    Posted: Jan 30, 2009 By: Member since: Jan 1, 1970
  10. wise

    wise UKBF Newcomer Free Member

    39 4
    It can actually have a positive effect. If Sage or any of the BIG players entered into the SAAS market, they bring with them a huge attention to SAAS and the other players in the market.

    Althought yes I agree - secretly releived for the moment that the market share has opened up!
    Posted: Jan 30, 2009 By: wise Member since: Jan 30, 2009
  11. KM-Tiger

    KM-Tiger UKBF Legend Full Member - Verified Business

    10,121 2,749
    And I doubt the wisdom of mentioning Alistair Darling.

    Or does Kashflow have a special "off balance sheet" feature?
    Posted: Jan 30, 2009 By: KM-Tiger Member since: Aug 10, 2003
  12. PayVector

    PayVector UKBF Newcomer Free Member

    595 147
    UK government announces that it will be using Kashflow for MPs expenses record keeping. Kashflow system subsequently crashes under the huge load.

    Duane Jackson from Kashflow comments, "Damb those are some pretty big numbers. The sex toy purchases alone runs into the billions"
    Posted: Jan 30, 2009 By: PayVector Member since: Jan 8, 2008
  13. sm1

    sm1 UKBF Newcomer Free Member

    4,507 504
    Good to hear Duane :)
    Posted: Feb 2, 2009 By: sm1 Member since: Oct 19, 2007
  14. phillip@ysatisfy

    [email protected] UKBF Newcomer Free Member

    21 6
    Well done, great to see folks doing well even in tough times. It gives all of us hope


    Posted: Feb 24, 2009 By: [email protected] Member since: Feb 24, 2009
  15. Eagle

    Eagle UKBF Legend Free Member

    5,382 598
    Again, well done. A UK company I've been watching. :cool:
    Posted: Feb 24, 2009 By: Eagle Member since: Oct 3, 2004
  16. terry_w

    terry_w UKBF Newcomer Free Member

    7 0
    nice to see the company doing good , well done !
    Posted: Mar 5, 2009 By: terry_w Member since: Mar 4, 2009
  17. stugster

    stugster UKBF Legend Free Member

    9,348 2,080
    Well, up here, Sage have invested heavily in radio advertising and are now crying that they have 780,000 business in the UK using their software.
    Posted: Mar 9, 2009 By: stugster Member since: Feb 1, 2007
  18. i234i

    i234i UKBF Ace Free Member

    2,284 242
    I dread to think what Radio channels you listen too as i have never heard them... was it on after Saga Holiday ad? :p
    Posted: Mar 9, 2009 By: i234i Member since: Jul 16, 2007