Wednesday, 20 April 2016 18:24

Reckon responds to market demand with release of Payroll solution

By

Australian accounting software provider Reckon has finally released its new Payroll software in response to what it says was the “most frequently requested’ functionality for its Reckon One solution.

Reckon says the long-awaited release now makes the online accounting software a strong and affordable product, “uniquely engineered to be a perfect fit for any business”.

Reckon CEO Clive Rabie says the new payroll solution has been built by Reckon from the ground up after extensive consultation with clients and the broader industry to ensure the tool “could fit their needs better than anyone else”.

And according to Rabie, the Payroll solution is “uniquely engineered” to simplify the day-to-day accounting complexity of a business and allows them to only pay for what they need.

“Unlike the acquisition based strategies of many of its competitors, including Xero with Paycycle and Quickbooks with Keypay, Reckon has built its own Payroll system in-house.”

Rabie says Reckon saw its own software build as the only way to ensure a well-priced product, “unhindered by the issues that often burden tacked-on solutions”. “The strategy has paid off and Reckon One’s Payroll module has received high praise from user testing groups.”

“This release marks a huge opportunity for Reckon and is a significant milestone for the company. The lack of Payroll functionality was curbing the uptake of Reckon One. Its introduction enables us to expand from targeting sole-traders, to small to large businesses, significantly increasing our potential market.

“We now have a very strong offering with all the advantages of the competition, and in many respects, better due to our custom build with unlimited employee management, fair pricing for a premium solution, and a next generation user experience. We’re excited to see what it can do to improve operations for Australian business owners. Our Reckon One solution has had a big boost today. It’s game on.”

Rabie cites a 2016 benchmarking report by the Australian Payroll Association’s showing that Payroll-related costs were one of the biggest expenses for SMEs, and for companies with less than 50 employees, the average cost per payslip annually is $4,766.03. “A situation not helped by Reckon’s competitors who charge businesses ever higher prices for online accounting software as they hire more employees,” the report observed.

Rabid says that in June 2015 the Counts of Australian Businesses ABS report showed 37% of businesses in Australia have between 1 to 19 employees, which is more than 780,000 businesses.

“Reckon’s new Payroll functionality for unlimited employees means those businesses will immediately see a benefit using Reckon One, and won’t be charged more for Payroll when growing their workforce.

“Payroll is an essential tool for business owners but can be expensive, especially for SMEs. As we developed our Payroll software in-house, we were able to keep costs much lower for our customers so business owners can rest assured they won’t be charged extra for Payroll as they grow and employ more staff.”

According to Rabie, Reckon couldn’t be launching its Payroll at a more ideal time, with the ATO requiring all employers to be Superstream compliant by the 30 June.

Rabie says Reckon believes that its Reckon One offering is a "compelling solution for the large number of businesses who need to comply with the impending law".
 
Reckon One allows super contributions to be processed automatically on its $5 per month ‘medium’ Payroll version, and has partnered with the National Australia Bank to facilitate this across all major banks from launch date.

There is also a $3 per month ‘lite’ Payroll offering that will allow businesses to process their contributions manually from the 30 June.
 
The ‘lite’ Payroll option also includes:

•         Unlimited employees

•         Pay employees and track leave

•         Automatic compliance updates

•         Calculate superannuation and obligations

•         Process manual and scheduled pay runs

•         SAFF download for SuperStream (from 30 June)


Subscribe to ITWIRE UPDATE Newsletter here

GRAND OPENING OF THE ITWIRE SHOP

The much awaited iTWire Shop is now open to our readers.

Visit the iTWire Shop, a leading destination for stylish accessories, gear & gadgets, lifestyle products and everyday portable office essentials, drones, zoom lenses for smartphones, software and online training.

PLUS Big Brands include: Apple, Lenovo, LG, Samsung, Sennheiser and many more.

Products available for any country.

We hope you enjoy and find value in the much anticipated iTWire Shop.

ENTER THE SHOP NOW!

INTRODUCING ITWIRE TV

iTWire TV offers a unique value to the Tech Sector by providing a range of video interviews, news, views and reviews, and also provides the opportunity for vendors to promote your company and your marketing messages.

We work with you to develop the message and conduct the interview or product review in a safe and collaborative way. Unlike other Tech YouTube channels, we create a story around your message and post that on the homepage of ITWire, linking to your message.

In addition, your interview post message can be displayed in up to 7 different post displays on our the iTWire.com site to drive traffic and readers to your video content and downloads. This can be a significant Lead Generation opportunity for your business.

We also provide 3 videos in one recording/sitting if you require so that you have a series of videos to promote to your customers. Your sales team can add your emails to sales collateral and to the footer of their sales and marketing emails.

See the latest in Tech News, Views, Interviews, Reviews, Product Promos and Events. Plus funny videos from our readers and customers.

SEE WHAT'S ON ITWIRE TV NOW!

BACK TO HOME PAGE
Peter Dinham

Peter Dinham - an iTWire treasure is a mentor and coach who volunteers also a writer and much valued founding partner of iTWire. He is a veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

Share News tips for the iTWire Journalists? Your tip will be anonymous

WEBINARS ONLINE & ON-DEMAND

GUEST ARTICLES

VENDOR NEWS

Guest Opinion

Guest Interviews

Guest Reviews

Guest Research

Guest Research & Case Studies

Channel News

Comments