Founded in 2016, AutoEntry automates data entry for accountants, bookkeepers and businesses.
Today (27 September), cloud business management solutions company Sage announced that it has acquired Irish start-up AutoEntry.
Dublin-based AutoEntry, which provides data entry automation for accountants, bookkeepers and businesses, was acquired after a two-year partnership with Sage. Following the purchase, AutoEntry’s ecosystem will remain open and independent, according to Sage.
Founded in 2016, AutoEntry aims to eliminate the pain point of manual data entry for businesses, automating data entry by capturing, analysing and posting all receipts, purchase and sales invoices, expenses and statements into a user’s accounting software.
Brendan Woods, founder and CEO of AutoEntry, said: “This is naturally a very exciting step for AutoEntry and presents a great start to our next chapter. Bringing automation to the front line of accounting has become arguably one of, if not the most, influential step changes to accounting in recent years.
“Having seen AutoEntry adopted for the automation of over 150,000 businesses in just three years since its launch, we are very excited about what we can do over the coming years with the support and reach that Sage can offer around the globe,” he added.
“We’ve always believed that if we committed to building the best product, give the best customer support, with fair and transparent pricing, everything else would fall into place.
“This has been our mantra and it’s not going to change now. We are here to deliver the best solution to all accountants, bookkeepers and business owners, regardless of the accounting products they use.”
‘Acquiring great technology’
Sage said that AutoEntry’s 200 employees will continue to work with the company, including the 26 staff members based at its Dublin HQ.
The automation solution is currently used by more than 3,000 accounting and bookkeeping practices, and it services in excess of 150,000 businesses. According to Sage, AutoEntry will be offered to its customers worldwide in the coming months.
Chief product officer at Sage, Lee Perkins, said: “Part of Sage being a great SaaS company means building and acquiring great technology to help accountants and businesses focus on what matters most.
“AutoEntry provides intelligent technology and an open ecosystem that allows us to automate the inflow of business-critical data, whatever the source, and reinforces our commitment to accountants and their evolving role in helping their clients thrive.
“Having worked with AutoEntry for the last two years, we’ve been hugely impressed with the team and the technology and are delighted to welcome them to Sage.”
Terms of the acquisition were not disclosed.