Tech and Telecoms, Finance and Accounting

Accounting tech firm iplicit in record growth as it prepares to welcome 60,000 users by 2025

Award-winning accounting software firm iplicit is on-track to onboard more than ten-times the amount of active daily users taking advantage of its true cloud solution – in under four years.

Launched in January 2019 by the founders of finance solution Exchequer Software Ltd, iplicit integrates with other cloud applications and provides users – from industries including accounting, not-for-profit, recruitment, and education – with real-time reporting capabilities, automated data migration, rapid implementation, and a public API to break down data silos.

More than 350 organisations and 5,000 active users currently access iplicit’s software daily. The London-headquartered organisation also now has international customers in 52 countries and recorded a 162% growth in revenue last year.

To continue its upward trajectory, the business has since deployed an experienced in-house team to specifically build partner relationships with accounting and finance software resellers, and is on-track to deliver its solution to over 2,000 organisations and 60,000 daily users by 2025.

Paul Sparkes, an iplicit director, said: “We’re already speaking to vendors who are frustrated and shackled by legacy, inflexible systems because they no longer want to work this way – effectively with one arm tied behind their backs.

“They’ve outgrown previous software and don’t want the cost or complexity that many software platforms currently offer on the market. They’re looking for efficiency and a way to alleviate overwhelming workloads and time-pressures, utilising the myriad benefits delivered by today’s modern cloud solutions.

“Finance and accounting resellers are absolutely vital when ensuring our product gets into the right mid-market organisations, at the right time. It’s another step forward for iplicit in how we continue to add value for customers, and build on momentum that supports our nationwide and overseas growth ambitions.”

Further software feature roll outs include authorisation workflows to provide organisations with transactions and approvals control, automated currency rates with live updates of exchange rates, dashboards – via iplicit’s mobile app – to better understand KPIs, and purchase-to-pay solutions so businesses have visibility of requisitions, orders, goods received, and invoices. A stock control function is set to be launched before the end of the year.

Additionally, iplicit is on course to becoming an international provider of leading-edge Enterprise Resource Planning (ERP) software, and a mid-market Original Equipment Manufacturer (OEM) partner of choice for existing vendors who currently have legacy, on-premise systems and require a true cloud solution.

An Accounting Excellence ‘mid-market and enterprise accounting software of the year’ 2020 winner, iplicit is also focused on welcoming 20 new recruits in the next 18 months and has recently opened a third office, a Customer Services Centre in Bournemouth, adding to its London and Dublin presence.

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