IRIS Software Group has agreed to acquire Level10 Ltd including its forecasting and reporting software Gearshift; enabling accountants to provide greater value to their clients in the run up to Making Tax Digital.

Gearshift provides IRIS accountants with reporting and forecasting capabilities, enabling them to deliver high-value advisory services to their clients through its integration with KashFlow. The forecasting software is designed to predict long and short term funding needs more accurately, making more from data and informing smarter business decisions.

The acquisition comes at a time when the accountancy industry is going through its biggest change in recent history, moving towards HMRC’s Making Tax Digital strategy. This is an opportunity for accountants to demonstrate the real added value to their customers and ensure they build stronger partnerships.

Kevin Dady, CEO of IRIS, says, “As we move closer to Making Tax Digital, it is crucial accountants demonstrate additional value to their customers. While this is significant, we see this as an opportunity for practices of all sizes to utilise innovative technology tools to deliver financial and business consultancy; ultimately bring accountants closer to their clients while guiding them through the transition.”

Kevin Cowan, managing director of Level10, adds, “It is becoming increasingly important for accountants to be able to produce financial information quickly, easily and in a format clients can understand. It’s exciting for Gearshift to be part of the next chapter in financial management.”

Gearshift will be re-branded into different editions for accountants and businesses; introducing a bundled edition of KashFlow that will include the new functionality.