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APS revenue growth has come from focusing on 5 aspects of the business:
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Positioning – Traditionally the majority of software providers to the profession have operated in a product/price dimension. The market perception has been that the technology is similar, so the choice has been about price. However, APS has stressed that while price and functionality are certainly factors in the decision, they are not the deciding factor. APS have continued to focus more on value and building exceptional relationships with clients and the key difference in this crowded market is its people and service delivery. Following an audit of its existing client base, APS has recently expanded its client management program and services. Audit feedback highlighted strong demand by clients for additional products and services (82% of clients are using 3 or more core APS products). |
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Understanding the client’s business – A key differentiator for APS is their understanding of their client’s business. APS delivers higher value to its clients through their experienced team, who are able to deliver solutions that drive higher business value for their clients, with technology as the enabler. |
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Growth from new and existing clients. A large number of new firms continue to move to APS each year. In addition, there has been a much higher take up of additional products and services by clients. For example, in addition to the Practice Management and Business Intelligence tools for which APS are renowned, there has been a high take up of compliance and productivity tools such as Accounts Preparation, Desktop Super, Tax and Document management. |
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Track Record – APS has the know-how, the expertise and a strong track record in the market. APS is the supplier of choice for the majority of the top 100 accounting firms, with around 70% of these firms depending on APS for their Practice Management and compliance needs. In addition, two of the Big 4 firms have recently switched to APS. |
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Technology – APS have and continue to lead on the technology front. APS was the first to market in 1995 with a scaleable Microsoft SQL Practice Management solution, also first to market with an SQL Tax and Accounts production solution. .Net Desktop Super (also on SQL) followed and APS will be the first to market with a new .Net SQL Tax solution early in 2008. |
Business Division revenue growth has been due to the following factors:
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High upgrade rate: Reckon Business Division has undertaken a successful upgrade campaign (including cash-back and incentive offers), which has resulted in strong update figures. |
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Retail market share – Reckon Business Division has increased its market share in retail through investing in the relationships with key stakeholders. We engage with our retailers at all levels of management (from CEO down to field level) leading to stronger trust of Reckon than competitors (who don’t have this level of retail engagement). |
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Technology – Reckon has leading edge products that are end-user focused and good value. Quicken & QuickBooks has ensured that its technology is upgraded to keep its products in step with, if not ahead of, the market. For example, all Quicken/QuickBooks products were Vista compliant so customers have the option to upgrade to that operating system when/if they are ready. The next version of QuickBooks, QuickBooks Obi, uses SQL technology and will represent a step-change in functionality, ease of use and scalability (500 new features, including Google functionality, and up to 30 concurrent users). |
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Growing existing customers - Higher level of sales from existing customers in Upgrades, Advantage & Subscription. The Business Division’s online sales and marketing platform has made it easier to segment customers precisely by product version and has made it easier for existing and new customers to navigate the website. Reckon Business Division has increased its online presence by 200% (as measured by independent web monitoring companies) | |
