IRIS Software Group cements position as leading provider of cloud-based accountancy solutions

3 minutes length

Posted: 22nd December 2023

IRIS Software Group (IRIS) is today unveiling the significant growth and market adoption of its powerful and award-winning cloud-based accountancy solution, IRIS Elements.

Using the unparalleled technology platform, customers can significantly reduce errors that arise by entering data into multiple applications and save time with an integrated, automated workflow. IRIS Elements ensures even the smallest accountancy teams can take on the biggest tasks such as proposal management, practice-wide Anti Money Laundering (AML) compliance, client ID checks, filing tax and accounts, customer relationship management and practice management.

IRIS Elements which recently won ‘Cloud Innovation of the Year’ at the UK IT Industry Awards 2023 and ‘Cloud Vendor of the Year’ at the Computing Cloud Excellence Awards 2023, is used by 4,500 IRIS customers for running at least some of their business activities. With 2,000 new customers joining the platform in the past 12 months, it continues to gain momentum in the UK market. This significant growth and adoption cements IRIS’ position as the largest single direct supplier of accountancy solutions in the UK. More than 24,500 UK accountancy and bookkeeping firms use IRIS, and 91 out of the top 100 UK accountancy firms rely on IRIS’ fully integrated cloud-based solution to drive productivity and generate more profit.

More than 3,000 accounts were filed on the IRIS Elements platform from October 2022 to June 2023, and since April 2022, 3.7 million tax returns have been submitted through IRIS’ tax products, making IRIS the largest third-party online filer with UK government. In addition, almost 51 million tax calculations have been run through the SmartTax module alone and 56,000 AML checks have been completed.

Steve Cox, Director of Business Intelligence at IRIS comments, “Moving to the cloud is a necessity for firms who want to create a strategic partnership with their clients. But it is not a simple task. At IRIS, we support accountants and bookkeepers at every stage of their technology journey, whether it is moving from desktop or diversifying services. Our significant investment in the IRIS Elements platform ensures accountants have the right technology to support business growth.”

Designed by accountants, IRIS Elements puts the client at the heart of the practice. For the first time, firms have a 360-degree view of the client without moving data between disparate applications. Accountants can onboard, service and advise their clients as well as manage their practices in an integrated cloud-based platform they can access from desktop.

Cox continues, “We have been the champion of the accountant for over 45 years. To ensure we innovate at the pace our customers need and expect, we established a separate business unit with a distinct strategy and structure, and customer insights at its core. This enables us to embrace open innovation and experiment with new technologies to ensure we ultimately deliver the best solution for accountants. IRIS Elements has changed the game. Firms can now optimise practice performance and increase value in the longer term. Whether firms want to move to the cloud or simplify their current cloud patchwork infrastructure, IRIS Elements ensures they can focus on driving deeper client relationships, provide more advisory services and build more profitable businesses.”