Analysts Reporting Corefino 3-part SAAS Accounting Alternative
Technology Breakthroughs Enable Newfound Freedom, Savings for 'Strategic CFO's'; Outsourcing Routine Accounting via SaaS + BPO a 'No Brainer' Alternative to On-Premise ERP
SUNNYVALE, Calif. - June 22, 2009 - Corefino, the Future of 21st Century Accounting(tm), today announced mounting technology analyst coverage of its unique three-part solution offering of software-as-a-service (SaaS), business process outsourcing (BPO) and a custom-built technology portal as an alternative to traditional on-premise ERP. In just one month since the company's formal launch on May 18, 2009, analyst reports from three leading companies have reported on Corefino, and leading analysts from around the world will be gathering in Boston on June 26 for the Grape Escape Analyst Event to meet with Corefino CEO Karen Watts. The event has been held annually for nine years by JRocket Marketing and draws analysts from throughout the world.
Reports on the new Corefino outsourced accounting alternative cite that the advent of new technology and outsourcing breakthroughs are providing a cost-effective and resource-light alternative for mid-market CFOs. By insulating organizations from a myriad of increasingly complex on-premise technology, staffing and changing accounting requirements, Corefino is enabling CFO's to become more strategic.
According to Predrag Jakovljevic, principal analyst, Technology Evaluation Centers, today's CFO's are falling into two camps - the traditional and the strategic. In a June 2009 "Industry Observation" blog by Jakovljevic, he cites a "new breed of CFO's and Controllers."
"A strategic 'Super Role' is what avant-garde CFOs 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," said Jakovljevic. "These Boardroom power brokers have been locked down by routine technology and workforce issues. They understand that by safely outsourcing non-strategic responsibilities, their ultimate value (both organizationally and personally) has a much greater chance of being realized."
Brian Sommer of Vital Analysis, a market research organization specializing in strategic technology guidance, stated in a recent ZDNet blog that a combined offering of SaaS and cloudcomputing is bringing together a new generation of technology compelling to mid-sized organizations.
"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," says Sommer. "Corefino combined world-class finance and accounting technology in the cloud in a secure, accessible format along with a team of trained accounting professionals. This could be a compelling option for CFO's and Controllers looking to significantly reduce capital outlay and personnel headaches. Competition is creating choices in the marketplace and companies owe it to their shareholders to review the new players/options out now."
William McSpadden, founder of analyst firm PWR, (formerly Plant-Wide Research) drafted an April 2009 "Executive Series Report" titled "Look Out ERP: Accounting Without 'Borders-Boarders' is Here." The report breaks down the upfront cost, complexity, and constant upgrades of traditional ERP. McSpadden drives home the point that Corefino's combined offering of SaaS + BPO for accounting + Best Practices is resonating with strategic CFO's.
"Once financial leaders taste this newfound technology freedom, they turn themselves into innovative problem solvers, adept communication/team players and sound advisors that realize the benefit of being armed with strong financial information so they can realize their vision of strategic 1management," said McSpadden. "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."
To access full copies of these articles/reports, please go to www.corefino.com or directly to these
analyst research links:
About Corefino
Corefino is the 'Future of 21st Century Accounting' -- a completely outsourced solution for replacing the aging on-premise
approach to performing routine financials. Corefino offers a turnkey people/place/platform combination of outsourced accounting
experts, outsourced technology and its Triple-C (Connect-Correct-Comply) Best Practices/ workflow framework. By removing the
on-site technology and headcount headaches from mid-market CFO's and Controllers, Corefino helps them to become 'strategic accelerators'
capable of more meaningful business impact.
Corefino operates on a variety of Software-as-a-Service (SaaS)-based platforms via monthly subscriptions, and has formed strategic
partnerships including ADP, EASi and Intacct. Corefino has vertical market expertise in digital home services, electronic gaming,
health services, municipal government, regional corporate offices, alternate energy and clean technology focused companies. Corefino
services include reconciliation, GAAP-based financials, plus others that facilitate monthly/quarterly/annual closes, IPO and merger
preparation, etc. The company was founded in 2004, the Triple-C platform was completed in 2006, and the company received capitalization
in 2008 to challenge the mid-market ERP leaders. Corefino, recognized as a candidate for InformationWeek's 2009 'Top 50' Start-Ups,
is based in Sunnyvale, CA. For more information on the company, please see www.corefino.com.
Marketing Contact
Corefino, Inc.
415-595-5538
