Combines Core Capabilities from Accrual Automation Provider, Gappify, and Leading Accounting Advisory Firm, CFGI
Gappify and CFGI have formalized a partnership that helps accounting teams automate and streamline the cumbersome monthly accruals process. The combined offering leverages Gappify’s first-to-market Accrual Cloud and the collective experience of the nation’s largest non-audit accounting advisory firm. The partnership will help clients transform their monthly close, reduce compliance risk, and improve the completeness and accuracy of financial data.
“As the nation’s largest non-audit accounting advisory firm and the market leader for Pre-IPO Consulting among Life Science companies, CFGI provides a broad range of services for the Office of the CFO,” said Oscar Palacio, Partner, Finance Transformation, CFGI. “And because these leaders understand the tremendous upside of automation, they have a strong desire to transform their finance functions by leveraging new and innovative solutions. The Gappify Accrual Cloud will enable our clients to elevate their team out of manual spreadsheets, strengthen SOX controls for a potential IPO or Big-4 audit, and drive more accurate reporting. Although the product is industry agnostic, we see particular value for our life sciences clients, an industry with highly complex accruals processes, and for all our clients that prioritize compliance and scalable processes.”
Latest Fintech News: Airalo, World’s Largest eSIM Marketplace, Raises $60 Million in Series B Financing
“This is really a perfect match,” said James Hall, SVP of Sales, Gappify. “The total number of financial restatements has increased by almost 300% since 2021, with Accrual issues cited as the third most common root cause. Establishing a strong, documented accruals process is mission-critical for publicly traded and pre-IPO companies. The challenge is even more pronounced for life science organizations, which traditionally have complex accruals and operate with lean teams. We’re thrilled to join forces with a team of industry-leading consultants at CFGI to solve this shared pain point in the accounting field.”
Latest Fintech News: New Survey from Radial Shows 48 Percent of Cart Abandonment is Tied to Security Concerns
Product Availability
The combined solution allows CFGI’s 1000+ team members, who are typically heavily involved in their clients’ accounting functions, to offer its clients Gappify’s Accrual Cloud to automate the monthly accruals process. CFGI consultants will be trained on implementing and optimizing Gappify, and the combined solution is available for immediate demonstration by contacting either Gappify or CFGI.
Latest Fintech News: SoFi Invest Midyear Investing Report: Optimistic Investors Face Down a Pessimistic Economic Environment
[To share your insights with us, please write to sghosh@martechseries.com]
