Exchequer Software Moving to Extended Support
It is now official as Exchequer accounting software has now been downgraded to “extended support”. That means that any updates to the software will purely be for legislative or security reasons only. Any queries regarding its day-to-day use or ongoing development will simply not be dealt with. This is a sure sign that the software will be sunsetted within the near future and users will have to move to another platform.
The History of Exchequer Software.
Exchequer has had a chequered history, as when it was with Iris it was one of the leading packages of its day. It combined advanced accounting functions with stock control and bill of materials, making it an enticing option for businesses who required more functionality than what Sage Line 50 could provide. It then moved to CHS until they were bought out by Advanced Software PLC in 2013. Advanced Software had made their reputation in developing solutions for the health and education industries working directly with the NHS. Under their banner, The Exchequer brand was being to be continually maintained so they could extend their reach into medium sized businesses across the UK. Yet the company was focusing on their own cloud-based offering called “One Advanced” and it is our belief that Exchequer was always going to be phased out and then the user base moved across onto the new offering. Unfortunately, as with many entrants into the cloud space, they found it a bit more involved than what they had originally intended. When we were looking at One Advanced for our client base a few years back we came across certain limitations within the system in the way it deals with exchange rates and other costing functions. Eventually we had to move to other platforms as we found the software too rigid to adapt to our customers needs. This was brought out as we have heard reports from their customer base that One Advanced was also not being developed.
Why has Advance software changed it mind:
According to the last set of accounts filed on Companies House, the company had been hit with two major events, a cyber attack in August 2022 and a difficult implementation that went over budget. The result has been an operating loss of 37.8 million and although they still had a healthy balance sheet it seems that they have gotten their fingers burnt. From their annual report, they are regrouping their efforts by going back to familiar grounds of health and education, and limiting their exposure to other sectors.
What now for users of Exchequer.
For users of Exchequer this will not come as welcome news as the software still functions and probably is intertwined with existing workflows so it will be difficult to replace. For those needing to begin the review current processes, we can scope your requirements and source a number of different options that may be suitable for your operations. As qualified Business Systems Analysts we can be a sounding board to look at the risks and advantages of upgrading your software options to best suit your needs. We have contacts with modular software platforms such as Xero to Cin7 or traditional ERP models such as SAP Business One. We also have contacts across the industry so we can assist you in accessing other software options if none of the others are appropriate.
Please Read Update News:
Announcement: we now are able to offer direct support for Exchequer with monthly rolling contracts click here for details.
Exchequer price increase
