ITWire

Netregistry purchased a 50% share of Reach Accounting last month, and has foreshadowed the integration of the accounting software with its other products and services, for example recording sales made through Netregistry's e-commerce facilities.

"It's great to see so many Australian SMEs embracing cloud functionality - despite media claims that Australian business aren't ready. It proves emphatically that SMEs are desperate for cloud services and are comfortable with cloud security," said Netregistry CEO Larry Bloch.

"The fact is, if provided by a reliable and secure company, the cloud carries no more risk than 'traditional' software. This has been proven by the success of our software and shows that SMEs are happy as long as they are using a trusted supplier," he added.

Taking a dig at MYOB, he went on to say "We expect to overtake other key competitors soon. It seems that SMEs are hungry for a product which is specifically designed for them, something which MYOB fails to deliver."