The HMRC recognized leading cloud-based accounting and payroll software provider, My Digital Accounts has announced that the company has appointed Nic Scott as the chairman of the company, effective immediately. The hrtech news community knows Nic Scott as the former CEO and co-founder of Fairsail that was acquired by the Sage Group Plc.
Fairsail was a pioneer in the mid-market SaaS HR sector and was acquired by the Sage Group Plc which is the largest software company of the U.K. in 2017. Sage Group bought Fairsail for an undisclosed 9 figure amount for the purpose of developing its cloud offering- Sage People.
My Digital Accounts was founded by a trained accountant and now CEO, John Whelan. The investors of My Digital Accounts include the Northern Powerhouse Investment Fund which was put in place in order to foster and further drive innovation in Northern England.
My Digital Accounts was originally put in place as a response to the Making Tax Digital initiative of the government of the U.K. Since then, over the past 12 months, the user base of the company has doubled, inclusive of recruitment and accountant firms. In today’s date, the company processes more than a million transactions every month.
With regards to the onboarding of Nic, John commented that appointing a high-profile chairman who has a background of SaaS, is a watershed moment in the 5-year history of My Digital Accounts. The growing client base of the company is returning from the lockdown and will be required to navigate uncharted waters while they adapt to the newer employment models as well as the ever-shifting sands of the tax regulations of the country. Having Nic and his expertise would prove to be invaluable to the company as it scales up to cater to the several unmet business needs.
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