FRIDAY, 26 FEB 2021

 

CONNECT

Facebook Linked In Twitter
GAP Vassilopoulos
GloriaJeans_266x90px
IMH LTD

Perdios Presents Main Goals of the 2030 National Strategy for Tourism

President Expresses Strong Determination To Participate In Informal Meeting In Geneva On Cyprus

IMH LTD

PROFESSIONAL SERVICES

brought to you by PWC

Accounting Software Firm Big Red Cloud to Expand in Cyprus and Malta

Accounting Software Firm Big Red Cloud to Expand in Cyprus and Malta

Accounting software company Big Red Cloud has identified Malta and Cyprus as its main new markets to expand into after Brexit.

The Dublin-based business, which turned 25 last week, targets small and medium enterprises with programs that make it easier for them to manage their accounts.

According to the Independent, it has secured €35,000 from Enterprise Ireland to assess the viability of the two countries through a market discovery grant. It is also planning on launching two new automated products.

Chief executive Marc O'Dwyer said that he felt the reaction to foreign-based accountancy services will be "negative" after Britain leaves the European Union. "The two closest countries with the highest English-speaking population are Malta and Cyprus," he said.

"The accounting rules are also the same, that way we obviously don't have to do any translation on the software. In saying that, we have a database of accountants and banks in those countries that we're starting to work on. We won't be based there initially until we have some traction."

O'Dwyer said that he is still receiving requests for assistance from accounts in the UK ahead of the digitisation of VAT and tax payments with Her Majesty's Revenue and Customs. He said that it remains unclear whether or not the business will continue to operate in the UK. Around 2pc of the company's customer base is in the UK.

"We are looking at popping that in to our development road map or not, that's still up for debate," O'Dwyer said.

The company, which originally started out as an on-premises accounting service called Big Red Book, now boasts more than 50,000 customers. O'Dwyer also outlined plans to future-proof his company's software and introduce automation into its services.

"We're about to launch automated purchase invoicing," he said. "So a small business would say invoice accounts@x.com and then that invoice would automatically go into Big Red Cloud. We're doing away with the manual processing of bookkeeping that has been synonymous with bookkeeping until now. A lot of the grunt work that smaller firms don't like will all be automated."

O'Dwyer currently operates a separate automated system with point-of-sale service Clover, renowned for its white, iPad-style checkouts that have become very popular in the food and drink sector.

Big Red Cloud is now developing a system to take on Clover in its entirety.

 

MORE ON PROFESSIONAL SERVICES

Advanced Tax Study Materials Launched In Cyprus

Tax is a complex issue, so ACCA (the Association of Chartered Certified Accountants) and ...

Investment Funds Are Turning Into A Key Pillar Of The Cyprus Economy

The ongoing interest from investment funds, even during the pandemic, to register and ...

2nd Cyprus Forex Summit

IMH is organising the 2nd Cyprus Forex Summit as a digital event on Thursday, 8 April ...

FROM AROUND GOLDNEWS

   

11th Nicosia Economic Congress

IMH, in association with the Institute of Certified Public Accountants of Cyprus (ICPAC), presents the 11th Nicosia Economic Congress on Tuesday, 20 April 2021 ...
   

4th Cyprus International Tax Conference

IMH is organizing the digital event “4th Cyprus International Tax Conference” on Thursday, 30 March 2021.   Distinguished speakers from ...
   

Danos | International Property Consultants & Valuers: Thessaloniki Market Report

Greek Economy Overview Greece had to face the outcomes of a ten year economic crisis, which officially came to an end in 2019. Before yet witnessing the ...
   

Alphamega Hypermarkets: New Stick & Win Loyalty Programme Featuring Top Quality MÖVE Products

Alphamega Hypermarkets have launched a collaboration with the brand MÖVE as part of the company’s Stick & Win loyalty programme, rewarding ...
   

Perdios Presents Main Goals of the 2030 National Strategy for Tourism

Cyprus Deputy Minister of Tourism Savvas Perdios presented the main goals of the 2030 National Strategy for Tourism, during a teleconference with the World ...
   

European Leaders Are Calling For A “Vaccine Passport” Before The Summer Tourism Season Arrives.

European leaders, deeply concerned that another summer’s lucrative tourism trade could be lost to the pandemic, are escalating calls for the European ...
   

President Expresses Strong Determination To Participate In Informal Meeting In Geneva On Cyprus

President Nicos Anastasiades has expressed strong determination to participate in the informal meeting on Cyprus which will take place in Geneva.  The UN ...
   

G.A.P. Vassilopoulos Group Proudly Announces Its Cooperation With DSV PANALPINA A/S

G.A.P. Vassilopoulos Group proudly announces its cooperation with DSV PANALPINA A/S, one of the largest Freight Forwarding companies in the world. ...
 

YOUR COMMENTS

HEADLINES

MOST POPULAR

Gold_February_Issue_300x250px
Enter_Cy_10/20-4/23

IMH LTD