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Dublin, Ireland; 6th May 2025: Triathlon Ireland, the national governing body for triathlon and multisport in Ireland, has today announced AccountsIQ, a leading provider of advanced financial management software, as its new Finance and Insights Partner.

With AccountsIQ’s finance software, Triathlon Ireland will streamline its financial and operational workflows and improve efficiency, accuracy and scalability. By removing the need for manual data reconciliation, the organisation can benefit from enhanced reporting, better decision-making and empowering the team to focus on higher-value activities.

In addition to the partnership, AccountsIQ will also power Triathlon Ireland’s  My Tri Ranking Ireland pages for 2025 and 2026, further strengthening the collaboration between the two organisations. The My Tri Ranking initiative provides participants with a platform to track their personal achievements and progression in the sport as well as providing the all-important rankings for the Triathlon and Duathlon National Series.

AccountsIQ and Triathlon Ireland’s partnership is founded on a shared belief in the power of data, insights and performance. Both organisations recognise the parallels between financial management and elite sport, where accurate data and actionable insights are crucial to achieving success at both corporate and athlete levels.

This new agreement strengthens an already close relationship: Triathlon Ireland has partnered with ExpenseIn, part of the AccountsIQ Group, since 2018 to manage its expenses and streamline financial processes.

Darren Coombes, CEO at Triathlon Ireland, commented: “We are delighted to welcome AccountsIQ Group on board as our new Finance and Insights Partner. Data is a key element for us as an organisation, as well as for our triathlon community who utilise the numbers to gauge performance at all levels.

“As a long time user of ExpenseIn to track our expenses, there is a natural synergy between our organisations,” Coombes continued. “I'm really excited to see our partnership develop and what we can achieve together over the next two years. AccountsIQ is also going to be powering our My Tri Ranking pages going forward, an increasingly important area for our sport in providing accurate and timely updates for the Triathlon and Duathlon National Series as well as athlete rankings.”

Darren Cran, CEO of AccountsIQ, added: “This partnership is the latest for AccountsIQ with National Governing Bodies (NGBs) in the sports sector, adding to our relationships with Hockey Ireland, Athletics Ireland and more. Data sits at the core of success, whether in business or in sport. Accurate insights enable better decision-making, stronger performance, and more effective strategies. As a committed triathlete myself, this partnership is particularly meaningful to me. It’s fantastic to support an organisation that empowers athletes at every level to achieve their goals, while also equipping its internal teams with the financial tools they need to thrive.”

ENDS

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About Triathlon Ireland

Triathlon Ireland is the National Governing Body for one of Ireland’s most dynamic and inclusive sports. Since the first triathlon event was held in north Co. Dublin in the early 1980s, the sport of triathlon has experienced unprecedented growth to the extent that Ireland now ranks fifth in the world for participation rates in triathlon per capita.

From its roots as a sport for the ultra-fit, triathlon has become a mass participation activity for all ages and abilities. Each summer over 10,000 people take part in the Triathlon National Series, making it the largest endurance sport league nationally.

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About AccountsIQ 

AccountsIQ delivers advanced financial management solutions to meet the accounting and business needs of ambitious mid-market companies with a growth mindset. Providing automated processes that increase productivity, group accounting features and next-level business intelligence, AccountsIQ offers finance leaders an easy route to digital transformation, with technology that streamlines their workflows and enriches their lives. With a go-live period 5x faster than competitors, AccountsIQ stands out in the market as an easy-to-use, cloud-native platform that delivers next-level insights and empowers better business decisions and faster results. Headquartered in Dublin with a second office in London, the business has over 100 employees and supports over 35,000 users worldwide. 

https://www.accountsiq.com/ 

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Excel has been the go-to for finance professionals for as long as anyone can remember. It’s flexible, familiar, and seems to be able to handle just about anything you throw at it if you know the right formulas. 

But here’s the catch: while spreadsheets no doubt have their place, they no longer measure up to the demands of modern financial reporting. As the role of the CFO continues to expand, so too does the need for sophisticated, yet easy-to-grasp insights when it comes to reporting. 

There’s also a time element to consider; finance teams pushing for real strategic impact simply can’t afford to spend hours bogged down in manual inputs and hunting for error-prone workarounds.

It’s time to get out of the spreadsheet trap and level up to something smarter, faster, and more future-proof. Something to empower your team to reach their full potential. 

The problem with business-as-usual

1. Excel's hold on finance

Excel has been a lynch pin of finance teams for decades. In fact, research shows that over 70% of companies still lean on spreadsheets quite heavily when it comes to budgeting, forecasting, and consolidation. 

Why? Its accessibility and user familiarity have helped it thrive across finance departments all over the world.

But the software is not without its issues. As organisations scale, so do their data volumes, reporting needs, and compliance requirements; things Excel just isn’t designed to manage at the enterprise level. 

2. The hidden costs of spreadsheet dependency

Every extra minute spent updating formulas, cross-checking figures, or manually consolidating data is time your team could spend on something more impactful. 

Productivity takes a hit. Errors tiptoe their way in. You don’t want your highly skilled finance professionals to be stuck doing tedious, repetitive work; your resources should be focused on mission-critical tasks and strategic initiatives. 

And the cost attached to spreadsheet-related errors is just staggering. Businesses have suffered multimillion-pound losses as a result of simple copy-paste mistakes or overlooked formula issues. Ouch. 

3. Pain points you know all too well

If your team is wrestling with multiple spreadsheet versions, struggling with version control, and constantly having to root out inconsistent data, you’re not alone. Excel-based reporting is rife with a number of annoying issues, such as:

• Disjointed collaboration
• Difficult change tracking and poor audit trails
• Slow, cumbersome processes for handling large or complex datasets

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The bigger picture: Risk and vulnerability

Snowballing errors

Even a tiny formula error can have huge knock-on effects, from distorted forecasts leading to shaky decision-making, to actual compliance failures. 

And we’ve seen in the headlines how spreadsheet errors have led to stock misvaluations, reporting inaccuracies, and major regulatory fines. For example, in 2024, Thyssenkrupp Materials Ltd were hit with an unexpected £8 million tax bill after submitting incompatible "bills of discharge" to HMRC. 

The source of the issue? Excel spreadsheets. An error in manually updating a spreadsheet led to the submission of incorrect data, resulting in significant financial repercussions.

Security and compliance concerns

Shared spreadsheets aren’t just inefficient—they’re not secure. Without the right access controls, audit trails, or encryption, sensitive financial data is very much at risk. With cyberthreats coming thick and fast, and AI-powered attackers looking for that kind of vulnerability, companies need their data locked down. 

And it’s not just about keeping your data safe; there’s GDPR, SOX, and other compliance frameworks to consider, too.

Risk management issues

Need to stress test your financial models? Plan for multiple scenarios? Excel just doesn’t cut it. It’s not built for systematic risk analysis, and attempting to force it into that role creates unreliable outputs and painful bottlenecks.

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Better begins now: What modern reporting looks like

Modern finance teams are making the move to cloud-based financial consolidation tools and cloud-native financial planning and analysis (FP&A) software to overcome spreadsheet limitations. These tools don’t just replace Excel—they reimagine how finance works:

• Real-time data syncing
• Automated consolidation
• Rich visual dashboards
• Seamless collaboration across teams

This isn’t a ‘nice-to-have’ anymore, but a strategic upgrade that you need if you want to keep pace with the competition.

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Features that pack a punch

Today’s advanced reporting tools offer:

• Automated data aggregation from multiple sources
• Real-time cloud reporting for finance teams, so decisions are based on the latest numbers
• Predictive forecasting and scenario modelling
• Interactive dashboards that make insights easy to share

With centralised data management, data governance frameworks, and built-in quality controls, these platforms provide the clarity and control that spreadsheets simply can’t.

Integrated finance ecosystems

The best solutions don’t exist in isolation. They integrate with your ERP, accounting software, payroll systems, and BI tools—creating an ecosystem where data flows freely, workflows are automated, and reporting is no longer a reactive scramble.

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4 business benefits of smarter accounting software

1. Win your time back

Automating manual processes and ditching the repetitive spreadsheet tasks makes for faster period closes, less stress at month-end, and more time for high-impact work. It’s a no-brainer. 

2. Faster, better decisions

With real-time insights, improved accuracy, and more granular analytics, finance becomes your strategic partner. You’re empowered to drive smarter business decisions, more accurate forecasts, and responsive planning.

3. Smoother collaboration

Cloud platforms allow multiple team members to collaborate in real-time. No more version conflicts. No more email chains with conflicting data. Just clean, up-to-date, accessible information—shared across finance, operations, and leadership.

4. Built to grow with you

Need to handle growing data volumes? Pivot to a changing business model? Modern platforms are designed to adapt. Whether you’re moving into new markets or restructuring, they can flex with you without breaking a sweat.

How to go beyond Excel: Step-by-step guide

Step 1: Assess your current state

Start by mapping your spreadsheet usage. Identify critical reporting processes and areas most prone to error or inefficiency. That’s where the business case builds itself.

Step 2: Find the right fit

Measure twice and cut once, as the saying goes, so do your due diligence before making the move. Remember, not all tools are created equal. Look for:

• Cloud-native architecture
• Real-time capabilities
• Integration readiness
• Strong support and training

And check out the total cost of ownership, not just license fees. Think about time saved, errors avoided, and agility gained.

Step 3: Transition strategically

Roll out your new platform in phases, starting with pilot reports. Run your systems in parallel, and upskill your team so they’re empowered to use that software and make the most of it. Oh, and embed change management best practices to ensure buy-in and adoption.

Step 4: Measure the impact

Set clear KPIs to measure success; be sure to include things like time savings, error reduction, report turnaround speed, and decision-making accuracy. Then, let the results do the talking.

The bottom line

Like a favourite pair of walking boots, Excel has served us well. But it’s no longer enough. For finance leaders looking to lead, not lag, now is the time to make the move. 

With cloud-based financial consolidation tools and real-time cloud reporting, you don’t just escape the spreadsheet trap, but unlock a whole new level of performance.

Start your transformation today. We’re here to help you move from manual to modern seamlessly, securely, and strategically.

Find out more about how better begins now with AccountsIQ’s cloud solutions.

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If you’re implementing new accounting software for your company, a bright new future awaits. Cloud-based accounting systems have so many business advantages that you’re bound to reap the benefits when upgrading – as long as you and your staff all understand what the new software can do.

Education is a fundamental part of any software changeover; here we’ll explain why moving to the cloud requires a comprehensive programme of education and staff training.

Get the best out of your software

Today’s technology is so powerful that we don’t always use it to its full potential. Software vendors often observe the 80/20 rule: commonly, 80% of clients will only make use of 20% of their system’s capabilities. That’s a lot of processing power that’s going to waste. There’s no point in going through the effort and disruption of a software changeover if employees revert to habit and continue to use the complex workarounds that they were used to with the old system – so training is vital if you’re going to get the best out of your upgrade.

AccountsIQ not only provide a revolutionary cloud-based accounting system, but also the training, implementation and customer support to go with it.

Adapting to change

In general, people don’t take kindly to change. The longer we’ve been accustomed to our own way of doing things – even if it’s slow, frustrating and inefficient – the more resistant we are to anything that disrupts us from our comfort zone.

So, the importance of education during the changeover can’t be overstated; people need insight into the personal advantages and benefits that a change in their role or habits will bring.

Tips on education and training

Staff education is an ongoing process that can begin as soon as you decide to upgrade your system. Accounting software training is a more hands-on activity that involves learning how to carry out specific tasks.

Here are some tips on educating your employees about moving to the cloud:

• Get them involved: ask for feedback on how their roles are carried out and what changes they’d like to see.
• Offer a demo: get your software provider to let staff ‘play’ with a dummy version of the new system before its implementation, to see for themselves what it will be like.
• Keep talking: by getting enough people engaged, you’re more likely to convince your staff of the merits of the change.

Everyone in the company needs to understand the importance of training and make time for it in their schedules. Software changeovers involve significant changes in everyone’s working day, and employees need to feel confident and happy with the adjustments to their role.

• Remember the 80/20 rule? Don’t be one of those clients: by providing full and comprehensive training sessions from the start, you’ll ensure that your company is using the system to its full potential.
• Split your staff into different types of user: they’ll have different training needs depending on how they use your software.
• Use a variety of different training methods to meet employee needs. These could include everything from group and one-to-one training sessions to online learning resources such as videos and documentation.
• Following staff training, a ‘hand holding’ period allows you to work closely with the software providers to ensure that you are getting everything you need from the system.
• A responsive customer support system will help you with ongoing queries as you continue to use the system.

If you’re needing advice on accounting system changeover, contact one of our experts for more information on 0203 598 7350 or to get an overview of the sophisticated functionality within AccountsIQ, Request a Demo.