Whilst corporate confidence is now returning, the climate for SMEs has changed dramatically. Organisations are increasingly demanding far more than the traditional accounting practice which offers no more than an annual meeting to sign off year-end accounts. They recognise that successful business now demands regular updates and financial advice, preferably supported by real time information on cash flow management and forecasting. By embracing the Twinfield business model, accountancy firms can improve interaction with their clients and evolve rapidly from the delivery of annual book-keeping services to true financial consultancy that delivers quantifiable value.

Mark Davies, UK Country Manager of Twinfield, says, "I am delighted to be joining Twinfield and I believe there are some fantastic opportunities for business growth in the accountancy practice market. Whilst many vendors have jumped on the Software as a Service (SaaS) bandwagon, Twinfield has been providing online accounting services to practices and SMEs for the last ten years, which means the company has a long-standing history in this marketplace."

Davies continues, "SMEs are now far more willing to break with tradition, questioning accountants' fees and comparing firms on the basis of the quality and extent of services offered. This is where the adoption of a SaaS model enables firms to move up the value chain and evolve from the role of annual auditor undertaking a necessary but uninspiring task to a true financial consultant with the expertise and experience to deliver quantifiable corporate value."

Prior to joining Twinfield, Davies was responsible for setting up the UK subsidiary of E-conomic. Davies recruited and led the UK team, developed the UK marketing strategy and business plan and established E-conomic as a UK brand leader in online accounting.

Commenting on why he decided to join Twinfield, Davies explains, "Twinfield is a company and offering that's differentiated from others in the way it works and the maturity of its service.  Most online accounting systems have focused too much on the needs of the SME and too little on the needs of the accountant.  In fact some online software vendors seem to foresee the accountant's role becoming marginalised to the extent that they're not needed and the SME can handle everything themselves. I don't agree." 

Davies concludes, "Most business owners want to concentrate on growing their business by acquiring, servicing and retaining customers.  They're learning to expect up-to-date financial information to be available at their finger tips but they don't want to spend time managing the financial processes needed to provide the information.  They want to work with an accountant who can provide this as part of the service and it means a lot more than basic bookkeeping, VAT and annual returns.  What we're beginning to see is more and more accountants looking for ways to evolve their practices to deliver these ‘added value' services.