The acquisition of Cambridge document management specialists, Lindenhouse Software by the Global Reckon Group in 2012 is now set for completion and Lindenhouse will rebrand to Reckon UK in coming months. Reckon Group, is a leading provider of software solutions for accountants, bookkeepers and small to medium sized businesses in Australia and New Zealand.
In 2012, Reckon took a strategic interest in Lindenhouse and its’ new ownership promises exciting opportunities for Virtual Cabinet, the preferred document management & cloud portal solution of professional firms and 30 of the top 100 UK accountancy practices.
The deal will give the Australian publicly listed company, Reckon, the opportunity to enter the UK accounting software market for the first time with the launch of Reckon One in Q2 2016. Reckon One is an affordable and smart cloud accounting solution aimed at offering a modular accounting platform to the small to medium business market. Reckon currently has over 300,000 active customers using its proprietary solutions that are designed to help businesses to become more efficient by managing, processing and sharing information in a secure, compliant and accessible way.
With the rebrand underway the emphasis is on ‘business as usual’ for the team behind Virtual Cabinet; continuing a relentless focus on providing the most advanced industry strength document management backed by best-in-class customer support. Future investment by Reckon is set to provide the agility, efficiency and adaptability in product development required to rapidly grow market share and to open up valuable new markets including America and Australia.
Mark Woolley, Commercial Director, Reckon Software Ltd, comments: “We are excited to be part of such a dynamic and successful Group and having worked closely together over the last 3 years, we know that our strategic vision for Virtual Cabinet is a shared one. Our future product road map includes significant enhancements and although we are entering a new era in terms of ownership, and identification our customers should rest assured that the fundamental principles that make the brand so unique, will not be compromised.”
Clive Rabie, CEO, Reckon Group, comments: “Right from the start, Virtual Cabinet has impressed us and we believe it is an outstanding solution that leads the global document management field in terms of ease of use, efficiency and security. We share a similar philosophy on delivering solutions that help to make business better and this will be at the heart of our bold vision for the future.”
The Virtual Cabinet portal is used in 110 countries with over 1.5 M documents published and during the 12 month period ending December 2015, Virtual Cabinet was installed at an additional 179 sites equating to circa 4236 new users and it is now the preferred system of 30 of the top 100 UK accountancy firms. This demonstrates a 35% increase in market share in one of the most competitive sectors of the accountancy profession. Virtual Cabinet’s distinctive integrated cloud portal is helping speed up the approval process for documents and returns as it allows accountants to publish documents from all their applications in a fraction of the time it used to take.