Tony Connolly is a Chartered Accountant who founded and serves as the Chief Executive Officer of AccountsIQ, a cloud-based Financial Management Software (FMS). It simplifies capturing, processing, and reporting financial information across multiple locations. The platform also offers tools to automate tasks like consolidation, budget management, audits, digital VAT returns, and cash flow.
Connolly quit his job as a partner in an accounting firm to found AccountsIQ, his Dublin-based company, in 2005. He saw an opportunity to harness the power of the Internet and took it to deliver a cloud-based FMS to manage multi-entity businesses on a single platform.
The company won the UK Mid-Market and Enterprise Accounting Software of the Year Award for two years in a row in 2018 and 2019.
“I had been advising tech entrepreneurs for a long time and now I was at the coalface myself starting something from scratch. I didn’t foresee that it would take as long as it did to get the business up and running or indeed that the global recession would hit as we launched AccountsIQ – so it was probably more of a risk than I realised when I left my job.”
Tony Connolly, CEO, AccountsIQ
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Tony Connolly Net Worth
Unfortunately, we do not have enough information available on Tony Connolly’s net worth. As soon as we come across any credible source of information, we will update this section. However, it is worth noting that Tony Connolly has been the CEO of AccountsIQ since its founding in 2005. The company’s software is being used by more than 4,000 businesses worldwide.
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Education
Tony Connolly attended Blackrock College from 1971 to 1977.
He then pursued a Bachelor of Commerce (BComm) in Marketing & Information Technology at University College Dublin in 1977, where he was also the Secretary of the Swimming Club.
Following this, he studied for the FCA in Chartered Accountancy at the Institute of Chartered Accountants in Ireland.
Afterward, he completed a Diploma in Systems Analysis at Trinity College Dublin from 1984 to 1986, where he continued his involvement with the Swimming Club.
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Career
Tony Connolly began his professional career as an Accountant at KPMG in 1984. He then became a Manager in the Technology Consulting division at KPMG Consulting (now BearingPoint), specializing in the design and implementation of Finance and ERP Systems.
Following this, he served as the Managing Director of AHC Systems Consulting in 1987, focusing on designing and implementing accounting and ERP systems.
From 2000 to 2004, Connolly was a Partner at Farrell Grant Sparks, in charge of IT Consulting and the Tech sector Corporate Finance.
In March 2005, he founded AccountsIQ and has been serving as its CEO since then. AccountsIQ provides cloud computing solutions for accountants, franchises, and multiple entity businesses, delivered as a Software-as-a-Service to various countries including the UK, Ireland, USA, Australia, and India. It ranks 18th in Deloitte’s Technology Fast 50 and supports over 20,000 users in 40+ countries.
In addition to his role at AccountsIQ, Connolly has been the Chairman of Bizmaps Ltd since 2001, a company specializing in cloud computing mapping, and location-based information services. Today, AccountsIQ is used by top accounting firms like Mazars and Grant Thornton in Ireland, and PwC and BDO in the UK.
Since 2006, he has also served as Chairman of Emydex Technology, which provides software solutions for the food manufacturing and distribution sector.
From 2009 to 2017, Tony Connolly was a Non-Executive Director at Continuum Commerce Ltd, focusing on cloud computing credit card payments and dynamic currency conversion solutions for eCommerce. He also served as a member of the ICAI IT Services Committee from 2004 to 2017, providing IT advisory services for the Institute of Chartered Accountants in Ireland.
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Latest Updates
AccountsIQ has raised €60 million (about $65 million) in a funding round to enhance its services for midsized companies. This funding will be used to build “the finance function of the future” through cloud-based, automated services boosted by AI. The company has gained around 1,000 customers, covering 10,000 entities and 20,000 users, maintaining a compound annual growth rate (CAGR) of 30% for several years. The funding round was led by Axiom Equity.
Also, the company has launched an eLearning platform called ‘AIQ Academy’ to provide users with “just-in-time” training on the system’s functionality. It aims to improve the onboarding process and fast-track training for new customers, their users, and new partners.
Looking ahead at the future, Tony Connolly said, “We have ambitious growth plans and have a great team of people, which we will be growing significantly over the next few years. It’s a very exciting time for us.”
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FREQUENTLY ASKED QUESTIONS
What does AccountsIQ do?
AccountsIQ is a financial management system that simplifies capturing, processing, and reporting financial information across multiple locations. It offers tools to automate tasks like consolidation, budget management, audits, digital VAT returns, and cash flow.
Who is the CEO of AccountsIQ?
The CEO of AccountsIQ is Tony Connolly. With over 30 years of experience in IT and finance, Connolly founded the cloud-based Financial Management Software (FMS) in 2005 after leaving his job at an accounting firm.
