Canadian SaaS Gaint (Bench Accounting software) Abruptly shutdown its Operations Leaving its 35,000 Customers in Dismay..
On December 27, 2024 , A Canadian “SaaS” (Software as a Service) Accounting software “Bench Accounting” ( https://www.bench.co/ ) Abruptly Shutdown its Operations , Thereby Its Customer Were Shocked as “They couldn’t Access their Data” and Accounting software Website was not Operational.
As per Bench accounting software Website , it had 35,000 Customers stretched in USA and Canada and had nearly 600 Employees.
This Shocking Saga Went as below
Initially Bench Accounting team sent Email to its Customers about its Sudden Decision of Closure.
Bench Customers , who were in Shock , Went to Bench Accounting website and Found Closure Notice on its Website
Bench Accounting software , on its Websites “Suggested its Customers to Move to Kick” , Kick is Again a SaaS based Accounting software
Finally , When all its Customers Were Clueless “Whether their Data/ Transactions they entered in Accounting software , would be There or not ? Would this be Accessible or not ?
Another Company “Employer.com” , came forward to Acquire Bench Accounting Business and Gave Option for Bench Customer “Either to Accept to Migrate Data to Employer.com” or “Download your Data to Exceed and Leave.. “
Moral/ Lesson from this “Bench Software” Case..
- Never Buy Accounting Softwares under “Software as a Service” (SaaS) Model , as you will Never Own your data always Bear a Risk of Loosing Data.
- Prefer to Buy Accounting software “Licenses” so that you can Own your Software and the data you Entered.
- If you Prefer to go For SaaS Accounting softwares , Try to talk to your Software Vendor , if there is a way to Download your Data ?
- Anyhow , “Nextgen AIS” Is always comitted to Sell Licenses , so you can Control the Software and always Own the data.