Corefino, a provider of outsourced accounting solutions, announced that its combined offering of software-as-a-service (SaaS (News - Alert)), business process outsourcing (BPO) and custom-built technology portal is being accepted as an alternative to traditional on-premise enterprise resource planning (ERP) solution.

 

The firm’s three part people-place-platform solution is designed for chief financial officers (CFOs) who wish to outsource the routine accounting function for mid-market organizations.

 

The company’s custom-built triple-C Platform, which includes more than 500 business processes, workflow and quality assurance checks and reviews, outsources the audit-ready financials function with a best practices outsourced approach similar to the outsourced payroll solutions now in general practice.

 

Since the formal launch of the solution in May, Corefino’s solution has drawn the attention of leading analysts in the world. Company officials said that some of these analysts are meeting in Boston on June 26 for the Grape Escape Analyst Event to meet with Corefino CEO Karen Watts.

 

Corefino outsourced accounting solution is providing a cost-effective resource-light alternative for mid-market CFOs, officials said citing various industry reports about the new solution. It insulates organizations from a myriad of increasingly complex on-premise technology, staffing and changing accounting requirements, enabling the CFO’s to become more strategic.

 

Brian Sommer of Vital Analysis, a market research organization specializing in strategic technology guidance, recently said that the combined offering of SaaS and cloud-computing is bringing together a new generation of technology compelling to mid-sized organizations.

 

Sommer added that Corefino offering could be a compelling option for CFOs and controllers looking to significantly reduce capital outlay and personnel headaches. The solution combines world-class finance and accounting technology in the cloud in a secure, accessible format along with a team of trained accounting professionals.

 

“If firms are looking to: minimize the high-costs of on-premise ERP software; eliminate the difficulties in attracting and retaining top-notch finance and accounting talent and, find better processes and systems, then they may want to evaluate a firm like Corefino,” Sommer said in a statement.

 

Another analyst William McSpadden founder of analyst firm PWR, in his executive series report about ERP, said that a combined offering of SaaS, BPO for accounting and best practices is resonating with strategic CFOs.

 

“Corefino is delivering a solution that is going to shake up the old-guard because it delivers everything a strategic CFO wants in one place and at one time – and on a subscription model – there is a new game in town and Corefino is a major player,” McSpadden said in a statement.

 

According to Predrag Jakovljevic, principal analyst, Technology Evaluation Centers, a strategic ‘super role’ is what the new breed of CFO’s and controllers are dreaming of, but the ability to become a dynamic C-level contributor with true impact can only be realized by outsourcing both the nonessential people and IT tools.

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