PracticePeople In PracticeIRIS to remove Transaction tag

IRIS to remove Transaction tag

Transaction Technology is to rename itself IRIS Software as part of a 'repositioning' that will offer the company's accountant clients the chance to sell its products to their customers.

The name change, which will take place during September, is designed to identify the company more closely with IRIS, its main product line.

More than 3,200 UK accountancy practices use the company’s IRIS database software, which handles a range of activities from producing client tax returns to generating bills and marketing activities.

IRIS is now extending its range of software with new products and services designed to appeal to the clients of accountancy practices – SMEs.

And the company is planning to form partnerships with its practice clients as its method of expanding in the business market.

Martin Leuw, an Arthur Andersen-trained accountant who took over from founder David Guest as chief executive of the company in May this year, said: ‘By partnering the professional partnership we plan to improve efficiency and increase revenue for our customers, providing them with software and services which they can sell to their clients.

‘Our partnership is with the profession and it is not our intention to establish competing reseller channels.’

The company’s decision to move into the SME market means that it will become a direct rival of companies such as Sage, Microsoft and Pegasus.

Its results for the year ended April 2001 showed turnover of Pounds 9.3m, around 20% up on the prior year, and Leuw said the company is aiming to continue to grow organically by 20% each year.

He also said the company, understood to be frustrated at being pipped to the post in the acquisition of Tas Software by Sage last year, is looking at potential purchases.

Leuw commented: ‘We are active in the accountancy market and are engaged in a number of discussions. We remain fixed on growing our business by both organic means and acquisition, however we are very selective and are determined to retain our independence.’

Links

Transaction updates IRIS software

IRIS website

Related Articles

Is inefficiency stealing your time and money?

Accounting Firms Is inefficiency stealing your time and money?

6m Emma Smith, Managing Editor
CIMA elects new president

Institutes CIMA elects new president

6m Emma Smith, Managing Editor
Transparent currency trade: How to achieve costs visibility

Governance Transparent currency trade: How to achieve costs visibility

6m Emma Smith, Managing Editor
Introduction to KPMG UK’s new leadership team

Accounting Firms Introduction to KPMG UK’s new leadership team

6m Emma Smith, Managing Editor
EY appoints head of UK Infrastructure Asset Intelligence practice

Accounting Firms EY appoints head of UK Infrastructure Asset Intelligence practice

8m Emma Smith, Managing Editor
FRP Advisory expands operation with new office, partner appointments

Accounting Firms FRP Advisory expands operation with new office, partner appointments

10m Emma Smith, Managing Editor
Magma Group announces merger, partner promotions

Accounting Firms Magma Group announces merger, partner promotions

10m Emma Smith, Managing Editor
MHA MacIntyre Hudson advises on management buy-out

Accounting Firms MHA MacIntyre Hudson advises on management buy-out

10m Emma Smith, Managing Editor