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Virtual Accounts Office

Prime is proud to have been chosen in the Midlands to be part of the launch of an online Virtual Accounts Office in an alliance with the International Association of Accountants Innovation and Technology Consultants (IAAITC).

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. 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 Prime fit in with Mamut's partnership to add new ingredients to the software plus sevices portfolio.

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."

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Prime Coventry
29 Warwick Road, Coventry, CV1 2ES
T: 024 7622 0208 E: coventry@primeaccountants.co.uk

Prime Solihull
Marlborough House, Warwick Road, Solihull, West Midlands, B91 3DA
T: 0121 711 2468 E: solihull@primeaccountants.co.uk