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Cloud Accounting Player Gem Accounts Enters U.S. Market

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Australia-based Gem Accounts has launched a U.S. version of its midmarket-focused cloud accounting product, with plans to staff a newly opened office in San Francisco.

Gem Accounts claims to be targeting medium to large-sized businesses interested in replacing their desktop accounting systems with a cloud product, or perhaps upgrading from existing small business cloud accounting products.

The U.S. version of Gem Accounts cloud accounting features inventory management, full quote to cash workflows, purchase orders, standard U.S. chart of accounts, and a flexible payroll system.

Other key features of Gem Accounts include an accounting workflow from creating quotes to sales transactions, invoices, cash collection, full reporting set and multi company consolidations; a recurring transaction manager; project tracking and billing including timesheets; and partner and reseller portals.

The company has offices in Melbourne, Australia; Aukland, New Zealand; and London and just opened an office on Mission Street in San Francisco. Gem plans to have it more fully staffed this month, meanwhile its support center runs 24/7 for ticketing but its call center currently runs for Asia, Australia and New Zealand business hours only. Gem is in the process of expanding capacity in the call center and will have 24-hour availability in the U.S. by the end of this month, according to chief technology officer Jonathan Eastgate.

Along with a U.S. office, Gem Accounts will be looking to establish a partner network with accountants and resellers as well.

Other features coming to the Gem Accounts product in the next few weeks include a fixed asset register, automated depreciation tools, and batch processing for large payrolls.

“At Gem we aren’t looking to compete with the existing cloud accounting packages already on the market, we are creating a new space for those businesses that don’t fit into the limitations of these existing packages be that either through structural limits like transaction volumes or feature limitations,” said Gem founder David Wilson. “It’s now possible to start off a small business on something like Quickbooks Online, Kashoo, Xero, MYOB Live or Saasu so your client can start to adapt to the benefits of the cloud, but when they grow and need more accounting functionality or start hitting system limits, then you can move them up to Gem. Once they grow into an enterprise or need even greater functionality, the options are to move them off Gem and onto something like SAP. The beauty is that now with Gem the entire lifecycle of a business can run accounting in the cloud.”

Pricing and additional information can be found on the Gem Accounts site.

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