IRIS Software & Services has completed a strategic equity investment in FreeAgent Central, an award winning online bookkeeping software as a service (SaaS) vendor.   Phill Robinson, managing director of IRIS Accountancy Practice Solutions (APS), joins the board of directors at FreeAgent.  This agreement reflects the IRIS commitment to investing in, developing and supporting, hosted applications and solutions that can be delivered to its customers through the Cloud, that provide complementary services and drive greater productivity for their existing IRIS installations.
 
Under the terms of the agreement, IRIS APS will also gain exclusive rights to collaborate on and resell FreeAgent Central developed products and services to UK accountancy firms.  FreeAgent Central, will continue to sell its existing service directly to the small business community. Commenting on the strategic nature of the agreement, Ed Molyneux, chief executive officer of FreeAgent, said: “With more than 14,000 accountancy practices already using IRIS software, partnering with IRIS gives us wide and deep access to the sector and directly supports our high-growth business objectives.  The faster we can reach this market, the sooner our products and service becomes the market leader.”
 
The FreeAgent online bookkeeping service is already used by thousands of freelancers, contractors and small businesses across the UK wanting to simplify their bookkeeping and accounts processes.  It is a true SaaS application with both the platform and all client data hosted securely online.  IRIS Software & Services (part of the IRIS Group which includes IRIS Legal) sells into the UK accountancy sector under three brands: IRIS, PTP and Drummohr.