Cloud-based accounting system e-conomic has been integrated with Outlook

The Outlook app for e-conomic allows products and services to be invoiced and sold directly through Outlook. The app is developed by Danish company iAdvice, whose primary area of business is in delivering customized solution on major ERP platforms such as Visma. Developed based on iAdvice's own needs, the app has increased consultants' invoicing by 20%.

- We use e-conomic ourselves and noticed that we didn't invoice many smaller tasks since our consultants don't use the accounting system on a daily basis. They don't register time in e-conomic, but they use Outlook all the time. Thus, it's much more natural to register time in Outlook and then transfer the data to their e-conomic invoice with a single click, says iAdvice CEO Johnny Hansen.

No limitations

The integration app connecting the world's largest online accounting system, e-conomic, with Outlook is called e-cotime (www.e-cotime.dk) and appears as an additional menu item in Outlook. You select time in your calendar, enter a description for your work, and then choose customers, orders and products. Time and documentation entered is then automatically transferred to e-conomic. This way, all required information is available for the accountant or bookkeeper when sending invoices to customers.

- We have used our experiences and ideas from the major ERP platforms where all options are available when tailoring individual solutions. e-conomic is targeted at a broad market segment, and so e-conomic is consciously opening up for solutions that make invoicing and bookkeeping easier and more efficient. e-conomic's product is improved, and we will enter a new business area that will hopefully grow, says Johnny Hansen.

iAdvice employs five people in Denmark and also collaborates with developers in India.

Great demand for cloud-based solutions

The Outlook app is only available in Danish for the time being, but over the next months the app will be localized so e-conomic users in all countries will be able to integrate with Outlook. iAdvice has also created a reporting tool for use with e-conomic, and the company has a clear strategy to focus on products that integrate with cloud-based solutions.

- We're seeing a significant increase in the demand for cloud-based solutions, and our strategy is to develop more apps and integrations in the future, says Johnny Hansen.

Attracting new customers

At e-conomic, they know of more than 100 named apps, but figure that there are probably many more apps out there. According to e-conomic CEO Torben Frigaard Rasmussen, the intention with the large number of apps is to make bookkeeping and accounting easier and more fun for small and medium businesses.

- For business owners without accounting experience, bookkeeping can be very time-consuming. That's why we strongly support the development of apps that streamline and simplify these processes. We don't make money on apps, but the number of apps has increased by 40% in the last year, and they play a significant part in attracting new customers and so help us increase our growth, says Torben Frigaard Rasmussen.

Today, e-conomic has close to 40,000 small and medium businesses as customers and has experienced yearly growth rates of 30-40% in Denmark over the past 3 years.

Further information

Torben Frigaard Rasmussen, e-conomic CEO, +45 26 16 33 90