UK software company KashFlow has today signed a deal with BAG Networks to supply online accounting software to Southeast Asia.
BAG Networks is a joint venture company between the Brunei Government and Accenture.
The KashFlow software was the first in the world to be certified by PayPal for automating accounting and has won numerous awards in the UK, including beating FTSE100 giant Sage to win the coveted “Best Small Business Accounting Software” award in a survey of small business owners by the Software Satisfaction Awards.
The software will be marketed under the brand name “Ikhlas”, provided via www.ikhlas.com.bn. Ikhlas is the Brunei Malay word meaning “sincerity and honesty”.
Haslina Taib, CEO of BAG Networks, said “ We needed a simple, easy to use system that does not have excess ‘accounting jargon’.
Faizul Yahya, the Team Lead of the Ikhlas team, said that he had singled out KashFlow from a competitive marketplace based on its suitability for local uses. As a result of market research into the needs of the local users, the team has found KashFlow to best meet the requirements of local SMEs within the price range. “We were also very pleased with the level of local technical support and encouragement from their end. One of their strong points is the simplicity and intuitiveness of the Service ”, Faizul explains.
KashFlow founder and CEO Duane Jackson said “We’re really pleased to have been chosen from what is a very competitive range of SaaS accounting applications.”
“Entering foreign markets is always a challenge due to the cultural differences. I believe working closely with local organisations as we are here should make an overseas launch much more effective"