#Corporate Management

Pennylane

Pennylane is an accounting and management software designed for companies and accounting firms.

Why use Pennylane?

The start-up has set up a unique operating system based on partnerships with traditional accountants. The latter are rigorously selected by the platform to subcontract on its behalf to its clients. Indeed, Pennylane has temporarily ceased in-house accountancy in order to concentrate on improving its online tool. However, the company still makes its software available to its clients.

The tool is accessible to anyone with an internet connection and a computer or tablet. It stands out because of its functionality. It allows invoices and estimates to be produced easily. Its automatic reminder and recurring invoice functions allow the user to save considerable time.

The designers of Pennylane have integrated functionalities to centralise supplier invoices. It ensures the payment of these and promotes better monitoring at each stage of the payroll process. The tool also helps to manage cash flow. It has a customer service department that can be contacted by telephone, e-mail or chat, depending on the package chosen.

The advantages of Pennylane?

Ease of use

Accessibility of the software

Automatic dunning and recurring invoice functions

The disadvantages of Pennylane?

Lack of a stock management module

No trial offer

Outsourcing of the accounting service

Overview of Pennylane

Full description of the tool

Founded in early 2020, Pennylane offers online accounting and administration solutions. The company was founded by a group of accountants and account managers. Together they set up a start-up which they later sold to Booking.

The platform plans to become a leader in the field of online accountancy. To achieve this, it is strengthening its team with experts in various fields. The aim is to offer its customers even more innovative solutions.

Our opinion

Pennylane is one of the most popular new utilities in the online accounting market. It is aimed at all types of businesses as well as individuals looking for an alternative to the accountant.

Its great flexibility is appreciated. This is reflected in its ease of integration with other accounting management tools. This makes it possible to have a general overview of its activities.

Pennylane may not be as sophisticated as some older software. However, the application has a unique feature. It is the centralisation of all the financial flows of a company under one tool. Thus, from a single interface, a plethora of tasks can be performed. These range from invoice management to cash management, customer payments and accounting.

However, the lack of a trial offer on the platform is a bit unfortunate. Indeed, this option could allow new users to test the software in order to decide whether they should get it or not.