Quicken Australia to Distribute Flow’s B2B Solution to Small, Medium and Large Enterprises in Australia, March 2007

Reckon Limited (ASX: RKN) which trades as Quicken Australia has entered into an agreement with Flow Software Limited of New Zealand to exclusively distribute the company’s B2B solution in the Australian market.

Quicken Australia will initially market this software – called Flow - to its QuickBooks customers in Australia via Flow’s existing resellers in the Australian market place.

Flow is recommended not only by resellers of accounting software such as QuickBooks, but also by resellers of accounting software such as Exonet, MYOB, Microsoft Great Plains, Microsoft Axapta, Microsoft CRM and Sage Pastel/Accpac.

“We are also going to offer the product to all small, medium and enterprise businesses whose business management software interfaces with Flow’s software – such as MYOB, Microsoft Dynamics and SAP Business One,” says Gavin Dixon, the CEO of Quicken Australia.

“One of Flow’s first customers in this country will be Quicken Australia because we are going to adopt this B2B solution for our own use in processing all our sales orders from retailers who sell our products - such as Officeworks,” he adds.

Gavin Dixon said that the move had been prompted by growing demand from businesses – ranging in size from small to enterprise - who, in an increasingly connected world, are trading with large organizations and are embracing electronic commerce to drive profitability and improve customer service.

“Even if, for example, you can already send invoices and purchase orders electronically, there is no benefit to your business unless your customers and your suppliers are able to automatically import such transactions. To do this they will also need a B2B solution so they can interact with you,” he says.

“As soon as a transaction – such as an invoice - is ready within your accounting software, Flow will package it up and deliver it to your trading partner. Conversely Flow will receive electronic documents from your trading partners.

“Flow not only automates the delivery of business transactions such as invoices, orders, pricelists and shipping notices between trading partners, it also aids systems integration within corporate information systems.

“In particular, it excels in the corporate retail sector where seamless integration is essential between head offices and branches. Flow has already established a successful track record of helping a diverse range of businesses from small suppliers to major national companies.

“Flow is in the unique position of being able to provide an EDI solution to fit complex multi-partner B2B interchanges, as well as being able to scale to solutions for your smaller or larger customers and suppliers.

“Simply put, Flow is all about enabling a business to interact more efficiently with customers and suppliers, reduce costs and streamline the supply chain,” he adds.

The signing of the distribution agreement between Reckon Limited and Flow Software Limited comes shortly after Reckon Limited announced that, effective 1 March 2007, it had acquired the business of its New Zealand distributor, Rafael Technology Pty Limited.

Since April 2006, Rafael Technology has been a reseller of the Flow solution in New Zealand where users include retailers, distributors and building/construction companies.

NOTE TO THE EDITOR:

What can Flow do for my business?
Flow will enable to send purchase orders to your suppliers, receive packing slips from you suppliers and receive invoices and match these to stock receipts.

Flow will enable you to receive sales orders from your customers, send invoices to your customers and send customers product catalogues and pricing.

Which EDI systems does Flow work with in Australia and New Zealand?
Flow works with many EDI systems in use by companies in New Zealand and Australia. Below is a list of the EDI systems that Flow supports.

a) Building / Construction
JA Russell
Ideal Electrical
Coreys Electrical
Stewarts Electrical
Rexel
Mastertrade
Mico Plumbing and Pipelines
Plumbing World
Chesters
Placemakers
ITM
Mitre10
Bunnings
Carters
CRC Industries

b) Grocery
Foodstuffs (three regions)
Progressive Enterprises

c) Retail
Farmers
Coles Myer
First Mobile
Digital Mobile

d) Distribution
Brightpoint
Ingram Micro
Sony
Monaco
Delonghi
Fisher & Paykel
Electrolux
IT Wholesale
LG Electronics
Panasonic
Pudney and Lee
Sharp
Nilfisk-Advance

About Reckon Limited and Quicken Australia
Trading on the Australian Stock Exchange as Reckon Limited (RKN), Quicken Australia develops, markets and supports the Quicken range of financial management software – in Australia, New Zealand and Singapore - under licence from Intuit Inc.

Founded in 1983, Intuit has annual revenue of more than $1 billion, and has nearly 7,000 employees with major offices in 13 states across the United States and offices in Canada and the United Kingdom.

Quicken Australia has some 400,000 small business customers using its QuickBooks financial management software.

Further information can be found at www.quicken.com.au

About Flow Software Limited
Flow Software Limited, based in Auckland New Zealand, is an innovative software company specializing in the development, marketing and support of EDI (Electronic Data Interchange) software. Flow Software facilitates the transfer of electronic information between trading partners and works alongside many of the most popular accounting and ERP software packages.

Flow is powerful, sophisticated, and yet extremely cost-effective and straightforward to install and use. Flow has proven popular with small businesses needing to eliminate paperwork with their trading partners, national retailers needing to automate the supply chain between their head offices and branches, and corporations needing systems integration across disparate applications.

Further information can be found at www.flow.net.nz

Issued on behalf of Quicken Australia by:
John Kingsley-Jones, PR & OEM Manager

 The Australian , March 2006: "Criterion with Tim Boreham "

Tim Boreham analyses the current and future growth of Australia's two leading accounting software suppliers, Reckon and MYOB.
- Read more...

Each year, Australian PC User magazine produces a review of the Top 120 products. The annual review identifies the best-value personal computers, portables, peripherals, components, software, entertainment gear and business products for every budget. Three Quicken products were named among the Best Business Products. They were:

• QuickBooks Pro 2004 - named 'Best Small Business Accounting Package'
• QuickBooks Point Of Sale 2004 - named 'Best Point-Of-Sale Software'
• Quicken Personal 2004 - named 'Best Personal Finance Program'

This is what the reviewer had to say about each:

QuickBooks Pro - 'Best Small Business Accounting Package'
QuickBooks is one of the most popular accounting solutions for small-to-medium businesses in Australia. Apart from GST compliance and all the other standard functionality you'd expect from accounting packages these days, QuickBooks Pro also features enhanced inventory management, a payroll module, integration tools for Microsoft Office and multiple currency options.

QuickBooks Point Of Sale - 'Best Point-Of-Sale Software'
Point-of-sale software must be efficient, user-friendly and robust - there is no room in a busy retail environment for glitches, involved data entry screens and complicated functions. QuickBooks POS meets the challenge with a simple shortcut-based entry mode, an excellent range of functions, reliable interface and back office administration.

Quicken Personal - 'Best Personal Finance Program'
Simply balancing your bank account is just the tip of the iceberg when it comes to this program - what lies beneath is an amazing range of tools to help manage your finances. Quicken Personal has set the bar for the depth and breadth of features, offering everything from loan optimising tools to integration with banks and listed share data.

By the way: Only one MYOB product made the cut with MYOB Business Basics being named Best Basic Book Keeping Package.

 PC Authority, July 2004: "QuickBooks Beats MYOB"

A top notch accounting program with something for everyone, QuickBooks Premier 2004 has new features and enhancements that some users will find particularly worthwhile.
- Article 1     - Article 2

 INDUSTRY-SPECIFIC VERSIONS OF THE WORLD'S MOST WIDELY-USED BUSINESS MANAGEMENT SOFTWARE NOW AVAILABLE IN AUSTRALIA

Reckon Limited, which trades as Quicken Australia, has announced the release of seven industry-specific versions of its flagship business management product - QuickBooks... Read More

 RECKON LIMITED LAUNCHES MAJOR ASSAULT ON ENTERPRISE MARKET WITH RELEASE OF BUSINESS MANAGEMENT SOFTWARE

Reckon Limited, trading as Quicken Australia, has announced the launch of QuickBooks Enterprise Solutions for businesses of between 20 and 150 employees.

The debut of this business management software in Australia, New Zealand and Singapore will see Quicken Australia launch a major assault on the enterprise sectors of these markets for the first time.

Until now, the company has focused its efforts on businesses that have 1-19 employees with its flagship products QuickBooks Lite, QuickBooks Small Business, QuickBooks Plus and QuickBooks Pro.

"QuickBooks Enterprise Solutions has been developed specifically to cater for medium-sized businesses that - because of their growth in size - need increased capacity, group reporting requirements and access to their business management software for up to 10 simultaneous users," says Greg Wilkinson, the CEO of Quicken Australia.

"It offers growing businesses the most comprehensive set of business management tools at this price - a 10-user version will cost $4500 - in terms of multi-company reporting, multi-currency accounting and multi-site connections as well as increased capacity, improved performance and better tools to manage growth.

"QuickBooks Enterprise Solutions 2.0 is based on the same ease-of-use principles that have made QuickBooks - which is used by some 3.5 million businesses worldwide - the best-selling accounting software in the world," he says.

Greg Wilkinson said much of the success of this software was the result of a massive investment in software development.

"Quicken Australia develops, markets and supports the Quicken range of financial management software under licence from Intuit Inc. Last year Intuit invested around 20% of its revenues into research and development of the Quicken range of products. In 2002 this represented a development spend of over US$200million - a spend that none of our competitors can match," he added.

• 36,000 medium-sized enterprises that employ between 20 and 150 staff
• existing users of QuickBooks Pro 2002 and 2003 software
• users of MYOB's Premier software

Quicken Australia's research shows that in the Australian market, these 36,000 businesses spend about $630 million a year on software and related expenditure - with each business investing about $17,500 on software a year.

The company will also target existing SME users of QuickBooks Pro 2002 and 2003 who are looking for more robust financial management and accounting software because their businesses have grown in size beyond the small business category (of less than 20 employees). For such companies, upgrading to QuickBooks Enterprise will be available at the special introductory price of $2500.

According to Quicken Australia's research, there are over 600,000 companies in the 3-19 employee category. "About a quarter of these would be companies of between 10-19 employees - and many of them, such as MYOB Premier users, are finding that their current software is being stretched to its limits because of their growth," says Greg Wilkinson.

Greg Wilkinson says that these growing businesses have more complex needs than those with fewer employees - including more complex finances, more customers and multiple locations.

They often rely on more than one application to run their business and their daily workflow involves multiple people and functions. QuickBooks Enterprise Solutions addresses these complex needs by providing:

New multi-user capacity - up to 10 employees on networked computers can edit the same company file at the same time

New multi-company reporting - parent companies and head offices will be able to use QuickBooks Enterprise Solutions to pull company data from subsidiaries, divisions or branches

Multi-currency accounting - companies that purchase or sell goods and services overseas, can use the new multi-currency feature to create sales receipts, invoices, adjustment notes, estimates and sales orders in foreign currencies; as well as to enter and pay bills from foreign suppliers

New multi-site and remote workers - a business can now manage the growth across multiple locations by connecting these locations and remote workers using the third-party software and operating systems. This allows users in different locations to run QuickBooks from a centralised server at the company's headquarters.

Increased Capacity - QuickBooks Enterprise Solutions will also support the growth of businesses because a user can add twice as many customers, products, employees and suppliers - up to a total of 29,000 - and a total of 29,000 inventory, non-inventory, and service items to the same company file

Improved reporting performance - faster generation of reports such as a standard balance sheet, profit and loss by job, and income by customer will save time.

New financial tools - QuickBooks Enterprise Solutions can help quickly create a business plan to use when trying to secure a small business loan or line of credit or to plan for the future

More Integration - QuickBooks Enterprise Solutions now integrates and shares data with a growing number of business applications developed specifically for a variety of businesses

• 12 months of products upgrades - users will always have the most recent version of the product in the form of software upgrades and access to the latest features
• Enhanced product support - users will receive an unlimited number of support incidents
• Access to an exclusive web site - users will receive product and business tips geared to growing businesses as well as access to information on annual licence membership status
• Payroll compliance - users will have peace of mind that their payroll is compliant

NOTE TO THE EDITOR

Trading on the Australian Stock Exchange as Reckon Limited (RKN), Quicken Australia develops, markets and supports the Quicken range of financial management software under licence from Intuit Inc.

The company has some 320,000 small business customers using its financial management software which includes QuickBooks Lite, QuickBooks Small Business, QuickBooks Plus and QuickBooks Pro.

More information can be found at www.quicken.com.au

Intuit Inc. (NASDAQ: INTU) is a leading provider of business and financial management solutions for small businesses, consumers and accounting professionals. Its flagship products and services, including QuickBooks®, Quicken® and TurboTax®, simplify small business management and payroll processing, personal finance, and tax preparation and filing.

Founded in 1983, Intuit has annual revenue of more than $1 billion. The company has nearly 7,000 employees with major offices in 13 states across the United States and offices in Canada and the United Kingdom.