Mamut goes online with Virtual Accounts Office
Norwegian business software developer has launched an online Virtual Accounts Office in an alliance with the International Association of Accountants Innovation and Technology Consultants (IAAITC). John Stokdyk reports
In what is becoming a flood of such announcements, Mamut visited the Swindon offices of accountants Morris Owen to train users on the new system and unveil it to the rest of the profession.
Under the Virtual Accounts Office (VAO) arrangements, IAAITC member firms will be able to support their customers via a hosted version of the Mamut Business suite.
The VAO service is being positioned as a system for foreign companies looking to set up operations in the UK, or for small businesses that want to outsource their finance functions. The VAO software includes sales ledger, invoicing, purchase ledger, cashbook and nominal ledger modules, and supplementary services are available for electronic invoice handling, sales and purchase order processing and credit control. The concept is designed to give client businesses access to what is effectively an outsourced finance department, backed with compliance services to cope with VAT, statutory accounts, auditing, corporation tax and payroll requirements.
"IAAITC members using VAO can widen their client base by offering a new service, and save on time as the system is hosted online," said the association's CEO, Dave Reynolds. "Member firms can also attract international clients looking to set up business in the UK, who need local financial expertise."
The VAO service is underpinned by Mamut's Business Platform, part of a "software plus services" strategy intended to broaden the Norwegian developer's market share in the next few years. The Mamut Business Platform combines traditional business software with online services such as web hosting and email, and packages them together in an environment that can talk to PCs, browsers and handheld devices. The developer's intention is to put al of these options together - along with extras such as the VAO - into a single log-in portal called Mamut One, which is due for commercial release in the next few months.
The IAAITC partnership and recruitment of UK accountancy firms such as Morris Owen, Newcastle-based RMT and WKH of Letchworth fit in with Mamut's partnership to add new ingredients to the software plus sevices portfolio. The company has also formed alliances with the Validis accounts checking system and UK tax software house Forbes, which is working to create an automated filing mechanism for corporation tax and annual accounts.
Forbes has embraced the XBRL web reporting language to enable electronic filing of both CT computations and annual accounts at Companies House. The link with Mamut means that accounts data can be handled electronically through to final accounts production and filing, and then through the CT process.
Mamut's UK general manager explained that the "software plus services" strategy was all about catering for customers fast-changing needs with a business solution that was simple to run and came with a fixed monthly price tag attached.
"Information flows are getting faster and the user experience is changing," he said. "Over the past couple of years, we're seeing more and more mobile users and people with laptops who have the ability to get at the information they need while they're on the move. Salespeople can go to customers and book their orders in front of them.
"The differentiator for Mamut is that we focus on small businesses. We have a hybrid in terms of online, offline and in-between - or software plus services. Mamut isn't just an accounting application, it's a business management system. Instead of going to two or three suppliers for all of these business systems, you can come to us."
This article originally appeared on AccountingWeb on the 13 February 2008
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