In keeping with our open approach as a business, I am pleased to unveil our UK Accounting Software Market Report. For a copy please click here: UK Accounting Software Market.

If you would like to use this report or quote from it, you may do so providing you reference and link to the Clear Books website

In particular gratitude must go to the three students from The Judge Business School at the University of Cambridge who put together this report over a period of just one month. These students were set objectives on the premise that they were acting as consultants to Clear Books, and were then left to carry out their research independently.

As far as I am aware this report is the first ever serious piece of consolidated work on the online accounting market in the UK. That’s not such a surprise in our young industry.

The interesting snippets that I picked up were:

  • Estimate that 2m businesses in the UK use accounting software and that more than 2m don’t
  • UK user number estimates: KashFlow (5000-6000) Xero (3000-4000) FreeAgent (1500-2000)
  • The big four desktop accounting vendors between them have UK estimated revenues of just over £200m and approximately 1m users.
  • Quality of product is critical in evaluating IT products
  • FreeAgent probably raised approximately £800k from recent Iris investment
  • Clear Books performed favourably against competitors in a usability questionnaire

Posted by Tim Fouracre

Tim founded Clear Books in 2008. Like many small business owners he worked from home for 15 months to get his startup off the ground. Today Tim enjoys helping Clear Books, its customers and its growing team innovate and achieve. Tim did his GCE O Levels in Ghana.