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Reckon Business Division 2009 Review & 2010 Strategies Update

Gavin Dixon, CEO, provides a detailed review of Reckon's accomplishments in 2009 and outlines key strategies for 2010. Highlights include revenue growth, new features, QuickBooks Online success, and future plans. Join us as we look back on our achievements and forward to exciting opportunities ahead.

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Reckon Business Division 2009 Review & 2010 Strategies Update

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Presentation Transcript

  1. Corporate Update Gavin Dixon CEO, Reckon Business Division

  2. 2009 Review • QuickBooks 2009 consolidates QBirelease • 29% growth in Enterprise revenue, 7% growth in QuickBooks overall • 39% market share by Dec 2009 • Good quality of 2009 release • POS grew market share (38%) • 106% up YoY (MYOB 67% YoY) • Lots of new features in POS 2010 – excellent opportunity for APs • QuickBooks Online launched successfully • Over 1000 users signed up in 4 months, 2000 users by end of March 2010 • Encouraging growth in AP and PP memberships • Reckon Docs, Elite improved market share, new offerings • Thank you for your support in 2009

  3. 2009 Review • Some process improvements • Call Centre hours extended to 7pm • Increased head count in PSG Tech Support • Voice Of Customer (VOC) survey feedback implemented • QB 10/11 two beta phases to improve quality assurance • Early release process implemented • to AP council, APs, PPs and then end-users • Web site revamps • Enterprise, Partners, Knowledge Browser

  4. Performance Highlights – year ended December 2009 • Reckon Group • Operating revenueup 42% to $85.3m • EBITDA* up 38% to $26.1m • NPAT* up 27% to $14.4m Professional Division Operating revenue up 32% to $28.1m EBITDA up 26% to $11.6m nQueueBillback Operating revenue $7.3m EBITDA $2.4m Business Division Operating revenue up 29% to $49.9m EBITDA up 29% to $15.9m

  5. Trends over last 5 years

  6. Key 2010 Strategies • Leverage QuickBooks 2010 QBi Series release • Broad user acceptance now achieved • Increasing organic growth • Attractive new capabilities and offerings • Leverage scalability of QuickBooks Enterprise Edition • Leverage QuickBooks Online service • Expand Reckon Online offerings for a broader addressable market • Continue to grow Reckon Docs market share • Add new service offerings • Take advantage of expanded direct sales team

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