IRIS Software Group, an accounting software company based in the United Kingdom, has bought Conarc, a U.S. provider of document management solutions.
Terms of the deal were not disclosed.
Conarc offers iChannel software, which enables CPA firms to connect all information in one place. Accountants can create reports and manage workflows from within the software.
The buy is IRIS’ latest move to expand in the United States; the company just completed the acquisition of Doc.It in June. This strategy has been driven in part by the COVID-19 pandemic, which made the need for a secure document management system indispensable.
“While CPAs aim to provide advisory services in the quest for market growth, firms have also navigated significant regulatory changes during the pandemic,” said IRIS Software Group CEO Elona Mortimer-Zhika in a statement. “Through workflow automation, Conarc frees up time, allowing CPAs to provide the insight required to improve collaboration with clients and support advisory services. Conarc complements our IRIS mission of helping accountancy professionals thrive and I’m delighted to welcome the team to our family.”
“The last 18 months have proven CPA firms need the right tools to connect all of their activities in one place so they can create a complete picture and connect with their clients in meaningful ways,” added Conarc CEO Meredith Jolly, also in a statement. “We’ve spent over two decades at Conarc working with CPA firms to design and develop solutions that enable them to enhance their productivity and expand their operations. With the incredible IRIS resources, and working with a brilliant IRIS team, we’ll be able to take our offering to the next level. We’re delighted to be joining the group.”
