Caseware Enhances Audit Processes with Extractly.ai Acquisition

Caseware Strengthens Position in Audit Technology

Caseware, a leading provider of cloud-enabled audit, financial reporting, and data analytics solutions, has made a strategic move to acquire Extractly.ai. This acquisition marks a significant milestone for Caseware, as it combines cutting-edge technology with exceptional capabilities in streamlining the audit process.

Understanding Extractly.ai and Its Capabilities

Founded in 2021, Extractly.ai specializes in intelligent document processing solutions tailored for accounting and finance teams. Their flagship solutions, Validate and Extractly+, offer groundbreaking ways to process financial and accounting documents. These tools are designed to deliver actionable insights while automating workflows, thus enhancing productivity.

Key Features of Extractly.ai

Validate utilizes AI algorithms to automate the review of financial statements, ensuring accuracy and internal consistency across reports. This cloud-based solution is a game-changer for accounting professionals, allowing them to focus on higher-value tasks rather than tedious data validation.

Enhancing Workflow with Extractly+

Extractly+ is another innovative tool that optimizes workflows through automated PDF data extraction and document matching. By minimizing manual data entry, teams can achieve greater efficiency and accuracy in their work. This feature promotes collaborative data access, allowing team members to share vital information easily and expedites the decision-making process.

Insights from Industry Leaders

Danielle Supkis Cheek, Senior Vice President of AI, Analytics and Assurance at Caseware, emphasized the significance of this acquisition. According to her, Extractly.ai is recognized for its fast and secure solutions, which can handle large document volumes effortlessly. With the integration of Extractly.ai's technology, customers can expect improved user experiences and enhanced functionality in Caseware's connected ecosystem.

BDO's Perspective on Extractly.ai

Damian Wright, National Leader of Audit & Assurance at BDO, remarked on Extractly.ai's transformative impact on their workflows. For the past three years, the implementation of Extractly.ai's tools has delivered exceptional efficiency, allowing BDO to allocate resources toward delivering deeper client insights.

Future Innovations and Global Reach

As Extractly.ai joins forces with Caseware, they aim to unlock new potentials in audit technology. Alastair Raphael, former CEO of Extractly.ai, expressed excitement about the synergies created through this partnership. Both entities share a vision for advancing solutions that enhance overall customer experience in the audit landscape.

This acquisition represents Caseware’s commitment to providing unmatched service and value in the market. Since being acquired by Hg Capital, Caseware has made numerous acquisitions to bolster its position in the global market.

About Caseware

Caseware is renowned for its innovative cloud-enabled solutions servicing accounting firms, corporations, and government regulators globally. With more than half a million users across 130 countries, Caseware is committed to helping professionals transform insights into impactful results.

Frequently Asked Questions

What is the purpose of Caseware's acquisition of Extractly.ai?

The acquisition aims to integrate Extractly.ai's innovative solutions into Caseware's offerings, enhancing audit processes and efficiencies for finance professionals.

What are the main products offered by Extractly.ai?

Extractly.ai offers solutions like Validate, which automates financial statement reviews, and Extractly+, which optimizes document data extraction and workflows.

How will this acquisition benefit customers?

Customers can expect enhanced integration of solutions, improved user experiences, and innovative features that add value to their audit and financial processes.

What are the synergies anticipated from this partnership?

Collaboration between Caseware and Extractly.ai is expected to enhance overall solutions, driving greater value and customer satisfaction in the audit sector.

Where is Caseware headquartered?

Caseware is a global provider and operates in multiple locations worldwide, serving a diverse range of customers.

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