KashFlow, the award winning cloud-based accounting software company has appointed seasoned software CEO Raj Patel as Vice Chairman. Raj joins KashFlow in the new formal capacity following 5 years as CEO of global business software company, Exact.
- Raj has been working with KashFlow for the past nine months in an advisory position
- Raj has also bought an equity stake in the accounting software business
- The appointment has been noted by industry analysts
- The support for the Executive team that Raj will bring will allow Founder and CEO Duane Jackson more time to investment in youth startup projects
- Raj is an entrepreneurial IT executive with more than 20 years' international experience
- Raj has worked with PC World and Exact and achieved notable titles including CEO of the Year 2007 and Entrepreneur of the Year 2008.
Raj Patel commented: "The traditional accounting software market is in the midst of a significant paradigm shift based on new technology, new business models and a new generation of users. Over the past few years, it's become apparent that traditional vendors are struggling with the magnitude and speed of change, which allows smaller, more nimble and agile players to create disruption in what has been a very mature industry."
Raj continued: "With incumbent players struggling in a changing macro-economic environment where new businesses are formed every day, a huge growth opportunity emerges. Duane was one of the first IT entrepreneurs to envisage and capitalize on it. With its track record, innovative products, superior customer engagement and growth plans for the coming years I am convinced KashFlow will further its lead. I am excited to be able to play a role in this journey and look forward to working with our team, our customers and our partners in making what has already been great journey even greater."
Leading industry analyst, Richard Holway commented: "I've followed KashFlow for many years. They really have given Sage, and other established companies in the market, a run for their money. It's difficult enough to grow a company from scratch to £1m, but even more difficult to make th the transition from 'startup run by the founder' to the next stage. The appointment of highly experienced new executives to join Duane Jackson is extremely good news and bodes well for the future of KashFlow and its customers"
Duane Jackson, Founder and CEO commented: "We've been working with Raj for much of 2012 and he has already had a significant impact on the business working part time and behind the scenes with the management team. I'm really excited to be bringing him on board full time.
Duane continued: "We've rushed into senior appointments in the past so we wanted to take our time to make sure we got this one right, and we're confident that Raj is the perfect addition to our team."