Sage and KashFlow - again!

(By Richard Holway 7.00pm 8th March 09) We got a pretty big postbag over the article Sage in spat with Kashflow on 4th March 09. Everyone seemed to be on Kashflow’s side and were in wonderment at the amount of free PR Sage were creating for the upstart.

Of course, my interest in Kashflow is because it has been one of the most successful businesses backed by the Prince’s Trust Technology Leadership Group - where I am currently the Chairman. Duane Jackson had written of his background in Would you lend money to this man?

On Saturday, the following letter from Lord Young was published in The Times. See Trust’s investment

Sir,
Martin Waller has been a little selective himself (City Diary, Mar 4). Duane Jackson, who runs KashFlow, pointed out in his blog two substantial security flaws in Sage’s new online accounting software — as a result it withdrew the product within days. When a billion-pound company and an industry leader starts on a small rival it is either bullying or really worried.

Duane Jackson got into trouble as a teenager and was sentenced to five years for running drugs. On release the only people that would help him were The Prince’s Trust and, as a result, I became his mentor and later investor. Their grant of £2,500 has been transformed into the industry leader in online accounting services. His story is typical of many whom the trust helps. Unfortunately, there are many more still waiting.

Lord Young of Graffham
London W1