E-conomic reports 40% growth

Online accounting provider expects similar growth in 2010

E-conomic, the international online accounting provider saw turnover increase by 40% to over $7.5 million dollars and with a more mature market, a growing appetite for cloud solutions and a stronger hold in a variety of European locations, CEO Torben Frigaard Rasmussen believes that this impressive growth rate can be replicated in 2010.

“We already have operations in the UK, Denmark, Norway and Sweden and have recently opened up applications in Spain, Poland, France, Finland and Germany with excellent feedback from users.”

Continued growth

“We have around 24,000 customers throughout Europe and in the UK two of the top ten accounting practices are currently test driving the product, “he said. “In Denmark, IT company Ithuzet has stopped offering Microsoft’s C5 and are introducing E-conomic in its place – a major coup for us.”

"We are currently moving customers from C5 to E-conomic. The huge demand for E-conomic has really exceeded our expectations. And the savings are enormous", says Steffen Nielsen, manager of Ithuzet.

An online migration

"I believe that our stringent focus on product development means that we can now take market share from established competitors. About 50% of our new customers are migrating from other ERP systems,” added Torben Frigaard Rasmussen.