AccountantsWorld Is Now Part of the IRIS Family
Big news: AccountantsWorld has been acquired by IRIS Software Group. IRIS and AccountantsWorld share a deep commitment to professional accountants, and we're excited to be a part of a highly successful UK company that continues to expand dramatically in the North American market.
For AccountantsWorld customers, this will be business as usual. AccountantsWorld has a longstanding team who are committed to continue delivering the highest-quality service to customers. Joining a prominent international business like IRIS will enable AccountantsWorld to propel its solutions and services to the next level. The combined Group will continue to develop cloud-based solutions for CPA firms, empowering them to manage and grow their practice, and to be better advisors to clients.
After many wonderful years in the industry, co-founders Chandra and Sharada Bhansali will be retiring from the operational leadership of AccountantsWorld at the end of January 2022. They will be supporting the business from a strategic and vision perspective in a consultancy role over the next few months, guiding AccountantsWorld through the start of its transition into the IRIS family. The wider team will remain with the business to drive it forward on its next chapter of growth.
You can learn more in IRIS' full press release below.
29th December 2021: IRIS Software Group (IRIS), a leading global software provider of accountancy solutions, is today announcing it has acquired AccountantsWorld, a pioneer in cloud solutions for accountants in North America.
The acquisition of AccountantsWorld is a further strategic step in IRIS’ mission to revolutionize the professional accounting market in North America, bringing together leading technology, capability and deep sector knowledge to help accountants address the challenge of growing and supporting North American businesses. Accounting firms require dependable compliance, powerful productivity and aggregated insight that allows them to provide value add Client Accounting Services (CAS), helping both them and their clients thrive in the coming years.
Founded in 2003, AccountantsWorld offers a complete suite of cloud-based solutions for thousands of CPA firms including accounting, payroll and document management, client portals, practice management, and a website builder.
Both businesses share the fundamental view that CAS are proving to be a foundational shift for the accounting profession and an attractive, high-growth segment for firms looking to further demonstrate their value and transform their business model. IRIS and AccountantsWorld also believe vendors must go above and beyond to support accountants providing these services, as they hold a wealth of knowledge from their portfolio and are consultants, growth partners and virtual CFOs to clients, not just a source of protection and compliance.
IRIS plans to continue supercharging its presence in North America, combining the power of its recent acquisitions (Doc.IT, Conarc) along with its existing CPA offerings (including Star Practice Management, Innervision, FMP, PSI, Senta and Practice Engine) as well as future acquisitions and product developments.
50 of the top US 100 CPA firms currently work with IRIS Software Group as well as many small and midsized firms that turn to IRIS for its ability to provide solutions for any sized accounting firm, and scale to match their future needs and growth.
Elona Mortimer-Zhika, CEO of IRIS Software Group says, “We are excited to welcome AccountantsWorld into the IRIS family as we continue to expand our North American presence to empower accounting firms to manage and grow their practices more efficiently and become better advisors to their clients. The AccountantsWorld founders pioneered cloud technology for accountants, and the holistic suite of cloud-based solutions they have created are an exceptional addition to our offerings. Together they help accountants transform their practices with solutions that drive automation, efficiency, and productivity, and allow them to introduce new and value-added services.”
An established and highly regarded partner to accounting firms, AccountantsWorld is one of the few independent cloud platforms of scale serving the accounting profession in North America. Based in New York, its deeply embedded solutions complement and extend the IRIS accountancy portfolio and are well aligned with IRIS’ core philosophy; to provide accounting professionals with a single source of truth about their customers so they can help them succeed and move forward with certainty and confidence.
Chandra Bhansali, co-founder of AccountantsWorld says, “For the past 30 years, we have made it our mission to deliver innovative ways for accountants to utilize technology that empowers them to become indispensable, trusted partners to their clients, ingrained in critical business functions. Joining IRIS further advances our mission. CAS services are critically important for accountant firms and joining IRIS allows them to deliver more financial value to their clients and let them focus on their business.”
About IRIS North America
IRIS North America is part of IRIS Software Group. It exists to take the pain out of processes and let professionals working in CPA firms and businesses comply with regulations, drive productivity, and better engage with key stakeholders. Its brands include IRIS Star Practice Management, IRIS FMP, IRIS Innervision, Practice Engine, Doc.It, PSI Payroll, Senta and Conarc.
IRIS works with thousands of CPA firms in North America, including 50 of the top 100 CPA firms in the US, and provides innovative solutions to serve accountancy customers in the North American market, making IRIS the go-to partner for CPAs. IRIS has over 100,000 UK and international customers, with 80% having a tenure of five or more years.
About IRIS Software Group
IRIS Software Group is a global provider of mission critical software and one of the UK’s largest privately held software companies. IRIS provides software solutions and services for finance, HR and payroll teams, educational organizations, and accountancy firms that takes the pain out of processes and lets professionals focus on the work they love. Through simplifying, automating and providing insights on everyday mission critical tasks for organizations of all shapes and sizes, IRIS ensures customers can look forward with certainty and confidence.
IRIS is the largest third-party online filer with the UK Government. Ninety of the top 100 UK accountancy firms use IRIS software. Circa 20% of the UK’s workforce is paid by IRIS payroll offerings, and globally, six million employees receive their payslip via IRIS software every month. More than 850,000 UK employees are managed by IRIS HR solutions. Over 12,000 UK schools and academies use IRIS, with four million parents and guardians using IRIS apps to connect with their children’s school; 300 million messages are delivered between schools and parents each year, and over £15 million transactional payments are processed every month. IRIS is placed in the Sunday Times PwC Top Track 250 and the Megabuyte50. It is certified as a Great Place to Work® and recognized as one of UK’s Best Workplaces, one of the UK’s Best Workplaces in Tech and one of the UK’s Best Workplaces for Women.
Most accounting and payroll solution providers have chosen to grow their businesses by offering accounting software and payroll services directly to accountants’ clients. This approach has weakened accountants’ control over these core business services and hampered their ability to best serve their clients.
Since 2000, AccountantsWorld has been committed to bringing control of accounting and payroll services back to accountants. Stronger control of these services helps accountants better serve their clients, raise their profits, and regain a sense of pride in their work. Today, AccountantsWorld offers a complete suite of professional accountant-centric cloud solutions to thousands of CPA firms for accounting, payroll processing, document management, client portals, after-the-fact payroll, and practice management. For more information about any of AccountantsWorld’s cloud-based solutions, please visit www.accountantsworld.com.
For all media enquiries, please contact:
UK: Emma Lawton | IRIS@octopusgrp.com | +44 7539 713 763
North America: Wendy Schechter | Articulate Communications | +1 917 687 9696