In this case, Paychex showed just what it was after with its investment in Kashoo, which built the application to Paychex's specifications. "We asked them to develop certain feature functionality. We asked them to accelerate some things that were already on their road map," says Andy Childs, VP of marketing for the payroll services provider. That includes inventory, which puts the product in a bit different place than some other entries. The Paychex version emphasizes access via the iPad, just as Kashoo does. It is priced at $27 per month, and while there is a $275 yearly rate, Paychex is not marketing that heavily with the company preferring to push the monthly "pay-as-you go, no commitment," plan, says Childs. Start ups are the target initially. Childs says his company will later turn its attention to marketing the accounting application to its small business payroll clients. While Paychex plans to add functionality, it wants keep the program suited for business people who do not understand accounting.
PAYCHEX ENTERS LOW-COST ACCOUNTING FRAY Featured
Just what we need – another low-cost web-based accounting package? Paychex became the surprising entry is this crowded field this week with the introduction of Paychex Online Accounting. And yes, it targets companies with 10 or fewer employees and which don't have a large reservoir of accounting knowledge. Isn't this where most of the competitors are playing?
