Exchequer is putting pressure on customers so sign up for years in advance.
Further horror stories are being shared amongst Exchequer customers of strong-arm tactics from One Advanced to lock companies into long term contacts with little to show in return. Even though it has been confirmed that there will only be minimal upgrades to the platform (legislative only) it seems hard to justify the recent doubling in price of the licence fees. Originally it was thought that this was a tactic to force people on to their cloud version of One Advanced. Yet even this platform seems to have suffered the same fate with no further significant upgrades in sight. It may be that as with other software vendors that have rushed into cloud space, the client uptake has not been as great as anticipated to cover the R&D cost of building the new platform. Exchequer users are weighing up whether to stay with a legacy product or move to something new.
Locking Exchequer from seeing historic transitions.
On top of all that we have confirmation from a recent client that they have been threatened with not only cutting off the ability for data entry after the renewal date, but also any capacity to view historic transactions. This is unprecedented as normally software providers allow analysis of previous transactions to satisfy the requirement of a HMRC audit which is currently 6 years. If they lock this feature it places business owners in a difficult position of balancing their legal requirements with the intransigence of the software vendor.
What can be done.
We are in negotiation with several companies affected to move their data across onto an alternative platform. We have a number of options available depending on the budget and business requirements. We have specialists who can extract information out from anywhere in the table structure and format that in a manner ready to be uploaded to a new platform. Yet even with that, it doesn’t solve the problem of viewing historical transactions. This is where or data extraction service comes in. With the tools that we have we can transfer all the related information into a SQL database and then write specific queries and reports that can meet any requirements of a HMRC audit, or management accounts process that you may have. For those whose business processes relies on Exchequer then we can transfer the licence to us, and we can then keep the program running. This is a more cost-effective solution which will make not interrupt your day to day operations. For those interested in exploring either option then please contact us directly on our details below.
