Top 25 firm
Cherry Bekaert is, itself no stranger to Sage, as the firm is a North American Sage Platinum Club Winner for the fiscal years 2022 and 2023 and is regarded as a top Sage Intacct Value-Added Reseller Partner. Considering this synergy, CEO Michelle Thompson, in an interview with Accounting Today, said the acquisition (which has been in the works for about a year) made strategic sense.
"We're focused on what are the value-added solutions that a [small to middle market] CFO needs over the lifetime of their enterprise as it grows. … A focus on the Sage ecosystem and its popularity with that type of client–which we see through our outsourcing business–we have a very large outsourcing business [on] the Sage Platform–we saw this as a great complement to provide high end solutions to that underserved market," she said.
The acquisition also fits in with larger changes to the business environment, particularly the increasing importance of technology. As clients modernize their operations, according to Thompson, the firm must keep pace in turn in order to continue to provide value through offering the solutions they need.
"Our partners are a critical part of everything we do at Sage. The combination of Cherry Bekaert and Kerr Consulting creates a powerful force in the Sage ecosystem, ensuring our joint customers can benefit from the most innovative technologies and transformative solutions for small to medium-sized businesses. We are excited to see the expanded reach and enhanced capabilities this union will bring to the market, ultimately benefiting businesses across the country," Hickman said.
While the firm does have considerable in-house expertise with the Sage ecosystem, the acquisition will significantly scale up its capacities, not least of which will be because Cherry Bekaert plans to retain all 100 staff members in Kerr Consulting, according to Thompson. She said the firm intends to be one of the top Sage providers, and the acquisition "helps us get there faster."
She was especially excited for what the acquisition will mean for clients. Thompson said what the firm just bought is an ERP accounting software system implementer. When this expertise is paired with the resources an accounting firm can offer, it offers a much greater value proposition than either by themselves, one that does not stop with ERP implementation.
"We don't wanna be just one thing for a client, we want to be there with them on this journey," she said.
Kerr Consulting will eventually be folded into Cherry Bekaert's branding, though during the transition period they will continue to operate largely as they did before in order to minimize disruption.
Kerr Consulting is a portfolio company of middle market private equity company,
