Newsletter
September 2005
Online50

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Recognition For Success

As the summer draws to a lingering end, here at Online<>50 we are entering what is traditionally our busiest season. We have had to take the reluctant decision not to exhibit at Softworld this season as we have so many other events happening.

In this edition of the newsletter we bring you news of further commercial success, with the announcement that Tenon Group has signed with Online<>50, as well as industry recognition as we are shortlisted for the prestigious Accountancy Age Awards.

We have also been awarded LIR status (Local Internet Registry) which gives us the resources we need to launch some exciting new services in the coming months.

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In This Issue:

New Faces, New Places
Rising Oil Prices Fuel Online Accounting
ITIO Awarded LIR status
Tenon Signs with Online<>50
Online<>50 Shortlisted for Award
Graduates Favour Accountancy

New Faces, New Places

Dominic Harwood, who will be known to most of our Online50 bureaux, and has been with us since launch, is relocating to the USA for family reasons. He will continue to work to support our bureaux although due to time zone differences he will not be available on the telephone during the mornings. As Dominic departs to the US we welcome Jamil Perkins and Robin McCartney onboard who will be working with the accountants community to explain the benefits and opportunities of Online Accounting.

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Rising Oil Prices Fuel Online Accounting

With the cost of oil rising, and the price of petrol at the pumps reaching an all time high, more accountants are considering the advantages of Online Accounting. Working with clients online does not remove the need for onsite visits, but can reduce the number of visits that are required, and can allow time to be used more effectively.

One Online<>50 bureau, for example, sends book-keepers to customer sites to enter source data and ensure that all paperwork is properly filed on site. However all management accounting is carried out in-house and the more qualified staff can support many more clients as they do not waste time travelling to site.

To find out more about how Online Accounting can reduce travel times and allow you to provide a more efficient service to your clients call the Sales Desk on 0800 195 0835.

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ITIO Awarded LIR status

IT Inside Out (ITIO) has been awarded the status of Local Internet Registry (LIR). This means that we have access to a much larger range of resources, and are equipped to offer a whole range of additional services that complement the Online<>50 service.

As a direct result of this change we now 'peer' directly with Tier 1 Internet providers and can support multiple independent routes through the Internet. We have upgraded the Cisco equipment in both data centres to take advantage of this. Although the redundant routing and faster access may not be directly visible to our clients, we are now prepared to scale up the delivery of our service.

Watch for information on our further services which will be announced in this Newsletter as they are rolled out. If you have a particular requirement and you would like 'advance notice' of any development plans please speak to your account manager.

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Tenon Signs with Online<>50

Tenon have signed a nationwide agreement with IT Inside Out to offer the Online<>50 service to their clients. The Tenon service went live on 1st September 2005 and is a landmark both for Tenon and the industry.

Tenon's Director of Outsourcing, Michaela Johns, comments: “We strongly believe that online accounting is the solution that progressive practices and their clients will increasingly use to get the most out of their relationship. In today’s world, where SMEs have less time than ever available for decision-making, and are having to cope with ever more complex regulations, the need for timely data and accurate professional advice means that online accounting is an option which every small business needs to consider.”

We are very pleased to have Tenon using our service, this provides further validation of the Online Accounting model and shows that our platform is scaleable to support firms of all sizes.

For more information on how Online<>50 can help your firm please contact the Online<>50 sales desk on 0800 195 0835.

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Online<>50 Shortlisted for Award

IT Inside Out has been short-listed for 'Small Business Product of the Year' at the Accountancy Age awards in November for the Online<>50 service. The other 'hopefuls' are: NetSuite, Mamut, Digita and Signifo

Congratulations to the whole Online<>50 team, and also to our bureaux and their clients who use the service every day. It is the growth in the use of our platform that attests to the relevance of Online Accounting, and to our model of providing standard software.

The actual winners will be announced at the award ceremony on 9th November 2005 in Battersea Park, London.

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Graduates Favour Accountancy

For the second year running, PricewaterhoueCoopers has come out top in a survey of 16,000 graduates. The survey asked which employer offered the best opportunites for graduates. Also in the top ten where KPMG and Deloitte.

Martin Birchall from High Fliers Research, who conducted the survey, said it was "no surprise" that leading accountancy firms dominated the results. "Graduate vacancies for trainee accountants have increased by more than 60% over the last two years and two of the leading firms are set to hire over 1,000 graduates each in 2006" he said.

The survey results come after speculation in the press that firms need to recruit more staff to enable their fee base to continue growing. (See Accountancy Age's Top 50 survey editorial).

The increased profile of accountancy is good news for the profession generally, not just the largest firms. With an influx of trainees into the larger firms, the partners of tomorrow are in training. With careful use of their resources, for example by using Online Accounting, to improve recoveries it is possible to achieve a high growth rate in fees without a comensurate increase in staffing levels. To discuss how firms are becoming more productive please call the Online50 sales desk on 0800 195 0835.

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Disclaimer

Every effort is made to ensure the accuracy of the information presented in this document, however we cannot warrant that the information is free from errors. There may be omissions or inaccuracies in the information and it is provided to you on an "as is" basis without warranties of any kind. We assume no responsibility for the consequences of any errors or omissions in the content or otherwise relating to the information.

Copyright and all other intellectual property rights subsisting in the information presented in this document is owned by us or by the providers of such information and is protected by Copyright Law.

The Online50 service is provided by Online50 Limited, a Microsoft Gold Certified partner and Sage Authorised Application Service Partner. We are also independently audited and accredited to the ISO 27001:2005 standard for Information Security and the ISO 9001:2008 Quality standard. We are a private company, and independent of the software vendors whose applications we host. Online50 Limited is registered in England Number 3144276. Registered Office: Ternion Court, 264-268 Upper Fourth Street, Central Milton Keynes, Bucks. MK9 1DP. Correspondence Address: Unit 57 Skylines Village, Limeharbour, London E14 9TS.


Copyright © Online50 Limited 2005



With a world shortage of refining capacity, Online<>50 helps you to save on unecessary journeys.

Line 50 v12 Under Test

We participated in the beta test programme for Line 50 version 12, and we are now testing the software for release onto the Online<>50 platform.

The new version offers enhancements to the Project Costing functionality and a number of 'Dashboards' and 'Process Maps' to provide information and drive use of the software.

All subscribers to Line 50 on the Online<>50 service are entitled to version upgrades whenever they choose. From past experience we expect that users will typically wait to see what problems are reported with the software before choosing to upgrade. New users will still be able to come on board with available earlier versions if they choose to (approximately 20% of users choose a version earlier than the most current when coming on to the service).

Upgrade Conversion Challenge

We offered a 6 bottle case of Bollinger Champagne to the Online<>50 bureaux that added the most client users in the period June to August 2005. Despite the holiday period being slow we still saw a net 17.5% increase in the number of client companies using the Online<>50 service over this period. Our congratulations go to E-Financial Management based in Luton who added the most client companies in this period.

Diary Dates

We will be exhibiting at Sage Visions in Edinburgh, and the new Sage Accountant's event, 'Equal Partners' in London, in November. Please visit us at either of these events whether you are an existing user or just interested in the service.

Sage Visions: Edinburgh ICC, 1st November 2005
Sage Accountants - Equal Partners: Vinopolis, London, 15th November 2005

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