More than 100 apps help increase e-conomic's growth

Bookkeeping should be easy and fun. That is the philosophy of Danish accounting software provider e-conomic which has close to 40,000 customers and the world's largest selection of unique accounting apps that all integrate with e-conomic.

e-conomic is structured around an open Application Programming Interface (API) enabling other companies to develop and sell apps that integrate with e-conomic. This strategy has contributed to e-conomic's customer increase over the past 12 months.

Streamlining and simplifying processes

Using e-conomic apps, companies can e.g. report mileage automatically using their mobile phones, automatically record orders and sale of a web shop – or automatically scan all invoices directly through Danish postal service Post Danmark to e-conomic. In the same way, apps are available for helping customers collect outstanding payments, book salary and record time and materials spent on projects.

- We know of more than 100 named apps, but there are probably many more apps out here, says Torben Frigaard Rasmussen, e-conomic CEO. - Our 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.

Connecting systems

In e-conomic, an app is an integration application that works as an intuitive utility to connect e-conomic with other systems such as web shops, CRM systems, payroll systems etc. A lot of the things companies do need to be recorded or interact with an accounting system, and e-conomic has from the very beginning 10 years ago held the view that data should be allowed to flow freely between business systems.

- We have always wanted to connect systems instead of keeping them apart. This is contrary to many of our competitors, whose customers therefore have to make uniform choices regarding technology and suppliers. Our system is so user-friendly and standard that you can code 95% of your app in our API. And it's quite remarkable how happy our customers are with the many apps. Our records show that the load on our API has increased dramatically over the past 12 months. And we are also very excited about the large number of apps ourselves – they create more business for those who develop them and those who sell them as well as for us, says Torben Frigaard Rasmussen.

Automatic invoice scanning

The latest e-conomic app is developed by Faktura-Boks. Using built-in automation and intelligence, this app transfers supplier invoice data directly to e-conomic, allowing the recipient to confirm payment with a single click. Faktura-Boks scans, registers, pays and archives all supplier invoices and also handles all related administrative tasks.

- The largest companies in Denmark have used Faktura-Boks for a number of years, so our concept was well-proven before we put it online and started offering it to the SME market as an app for the e-conomic accounting system. Small and medium businesses are also focused on reducing the number of administrative burdens and related expenses, which is why Faktura-Boks has become so popular. If you can save one and a half minutes per invoice, i.e. from you open the envelope with the invoice until you have entered it into your accounting system and paid and archived it, Faktura-Boks will have proved profitable. Additionally, you ensure that VAT and payments are handled correctly, and you're always on top of things with your bookkeeper or accountant, who has access to your accounts via the web and can check all your documents electronically, says Bodil Gregersen, Faktura-Boks CEO.

e-conomic is the largest Danish provider of online accounting solutions for small and medium businesses. Over the past 3 years, e-conomic has experienced yearly growth rates of 30-40% in Denmark. e-conomic's head office is located in Copenhagen, with subsidiaries in Sweden, Norway and the UK. The company has 80 employees at present.

Further information

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