Tech News: 2022's Top Firms for Technology

May 6, 2022 9:28 AM

NetSuite launches a SuiteLife training program; automated invoice processing times get faster; AuditBoard reveals new capacities for CrossComply; and other tech news and updates from the accounting world.

Top Firms for Technology 2022

Accounting Today released its 2022 list of the top firms for technology (see the list here and the full report here). Among this year’s cohort are firms that stated they took a measured approach to technology investment, versus manic adoption of every trend possible (see full story).

NetSuite launches ‘SuiteLife’ training program

NetSuite launched its "SuiteLife" training initiative to assist partners who lack the time or capacity to train new talent. The program offers accelerated training to new college graduates or career changers. The six-week instructor-led course is intended to develop students’ business knowledge and acumen; consulting skills; knowledge of NetSuite products; and training on the NetSuite deployment methodology.

Automated invoice processing times getting faster

Olivier Le Moal/Olivier Le Moal - stock.adobe.com

Processing time for automated invoice systems fell between 2020 and 2021 as more businesses adopted digital tools, according to a recent study from cloud automation company Medius. The study, which looked at $180 billion worth of automated invoices worldwide, found that, compared to 2020, non-purchase-order invoice cycle time fell 7%, from 7.2 days to 6.6 days; purchase-order-invoice cycles, meanwhile, were processed 4% faster in the same time period, going from 6.55 to 6.29 days. The average time to process invoices is 10.3 days, meaning there has been a significant speed increase in just a short time.

Partnerships and acquisitions

Sphera, an ESG performance and risk management software company, announced a strategic partnership with Big Four firm PwC to scale its operations up and improve its user base. … Cloud platform company Cloud at Work has been accredited by Sage as an approved Sage X3 Strategic Hosting Partner. … IRIS Software Group has acquired Ireland’s Paycheck Plus, partially as a way to expand its service offerings in the U.K., U.S. and Ireland. ... Security tech firm Radiflow is in the process of being acquired in a two-phase process by Sabanci Group. The first phase involves a $45 million primary and secondary investment into the company, and will be followed by the second phase, where Sabanci will acquire a 100% stake in the company by 2025.

Other news

Financial management software developer The Neat Company has expanded its platform with new bookkeeping, invoicing and document management capabilities designed for small businesses. … Government risk and compliance software company Quantivate has enhanced its Governance, Risk and Compliance Insights engine, which includes Quantivate Report Builder enabling banks and credit unions to create customized reports, visualize data and draw actionable conclusions. ... The IRIS Software Group said its AccountantsWorld Payroll Relief solution has achieved SOC 2 Type II compliance. … Modern Treasury announced a new Compliance product that provides users with know-your-customer identity verification, transaction monitoring and case management so customers don’t need to manage multiple vendors and systems for compliance, fraud and payment operations. … Fintech company Boast announced that Alok Tyagi will be joining as the new CEO for the next phase of the company’s growth.