15 May 2009 AccountsIQ has announced that Deloitte Australia has today launched an online accounting service to its clients based on the accountsIQ software. After a detailed tendering and evaluation process over the past few months the contract was officially signed today in Melbourne, Australia. The online accounting service will be offered through its Deloitte Digital division as an own-branded solution.
Deloitte Digital is pioneering the delivery of online professional services in Australia, which to date have included benchmarking tools, online education and collaboration products, compliance and HR solutions. It expects accountsIQ to play a central role in expanding the services it offers helping it to change the paradigm for delivery of professional accounting services.
“Businesses are becoming increasingly impatient with the inflexibility and cost of traditional financial systems. AccountsIQ provides customers with the ability to securely record transactions, monitor performance and prepare financial reports. We see this as a fundamental change in the way accountants work and in the type of the work they can do. It changes the nature of the client-accountant relationship from a ‘once a year’ contact to an ongoing conversation; from accountant to business advisor. It includes collaboration capability such as a clever bulletin board feature which allows our accountants and clients to post messages for one another in a secure online forum,” confirmed Peter Williams, CEO of Deloitte Digital.
The features made available to Deloitte’s clients through AccountsIQ include:
- Customised dashboards highlighting key financial information
- Single data entry for tax reporting and financial management purposes
- Integration with internet banking
- Outsourced IT infrastructure, data back-up and security
- Multiple entity consolidation for reporting purposes
- Paperless office functionality including document management
- Webservices integration with client’s front end systems
Tony Connolly, CEO at accountsIQ said: “We are delighted that Deloitte has chosen accountsIQ to spearhead its online services. Software-as-a-Service (SaaS) is set to revolutionise the delivery of IT solutions and we believe SaaS accounting plays a key role in revolutionising the way accountants service and collaborate with their clients. This new approach results in significant productivity improvements for the accountant and cost savings for both the accountant and their clients. It also contributes considerably to the Green Agenda through increased emailing of documents, electronic payments and reduced travel. The Deloitte deal recognises the considerable investment we have made over the past 4 years in R&D and shows that Ireland can be at the forefront of the SaaS revolution.”
At today’s announcement, Ireland’s Ambassador to Australia & New Zealand, HE Mairtin O’Fainin commented: “Ireland today is a knowledge economy, with the Irish software industry being a prime mover in delivering the type of innovative solutions that will drive the economy forward in the next few years. The partnership between Deloitte and AccountsIQ is a great example of global companies leveraging the exciting innovations arising out of Ireland in this sector.”
According to a report published in November 2008 entitled ‘Online Accounting Software’ by the Institute of Chartered Accountants England and Wales (ICAEW): “Online accounting now seems less like a ‘big risk’ and more like an idea whose time has come bringing some significant business benefits along with it.”
About Accounts IQ
AccountsIQ is an online accounting and business application which revolutionises the way businesses manage their accounts.
AccountsIQ is a software solution delivered via the Internet that cuts costs, increases revenues and boosts productivity via a full featured multi-currency business and accounting software solution designed to move your entire accounting procedures online, allowing collaboration between multiple independent entities such as franchises, subsidiaries, branches and outsourced accounting services.
For further information please visit www.accountsiq.com.au