AccountsIQ partners Deloitte Ireland on mid-market push

AccountsIQ has partnered with Deloitte Ireland Corporate Finance to target mid-market companies in Ireland.

Under the agreement, Deloitte Ireland Corporate Finance will introduce portfolio companies to AccountsIQ's cloud accounting platform as they prepare for growth, investment, restructuring or sale.

Deloitte Ireland Corporate Finance works with about 200 mid-market companies each year and has identified a gap in the market for businesses with revenues of £30 million to £100 million that have outgrown entry-level finance systems but do not want the cost or complexity of larger platforms.

That gap has become more visible as investors demand stronger financial controls and reporting from smaller companies entering a new phase of ownership or expansion. Many of the businesses Deloitte advises are still relying on older software or spreadsheets at a point when reporting requirements become more demanding.

Reporting needs

The partnership focuses on companies with more complex finance operations, including those managing multiple entities and those seeking more automated reporting. AccountsIQ said its system is designed for mid-sized businesses that need more structure in finance management without moving to larger systems.

For Deloitte Ireland Corporate Finance, the tie-up provides a finance software option for clients during transactions and post-deal integration. That is particularly relevant for private equity-backed businesses, where investors often expect a clearer reporting framework soon after an acquisition.

Ian Whitefoot, Partner at Deloitte Ireland Corporate Finance, said: "In recent years, we've seen a significant increase in the attractiveness of Irish SME assets and companies to private equity investors in Ireland, the UK and the US.

"When institutional investors buy businesses, there is an expectation of a step up in financial reporting. Many want to know how financial information is maintained and reported against the value case for an acquisition. Spreadsheets cannot be relied upon at this stage.

"With that in mind, we are pleased to introduce our portfolio companies to an award-winning finance platform designed for the next stage of growth. Businesses acquired by private equity firms often carry accounting inaccuracies, something the AccountsIQ platform can address, with implementation costs suited to private equity houses' post-investment budgets."

The comments reflect a wider shift in the lower mid-market, where due diligence and ownership changes often expose weaknesses in finance systems. Advisers and investors are placing greater emphasis on the quality of financial data, audit trails and the ability to produce timely management information.

Mid-market focus

AccountsIQ, based in Dublin, provides accounting software for mid-market businesses and says it supports more than 35,000 users in more than 85 countries. The group was founded in 2008 and also includes the expense management software business ExpenseIn.

Its platform includes financial reporting, automation and multi-entity management tools. Those functions are increasingly sought by businesses that have expanded through acquisition, entered new markets or taken on outside investment.

For software suppliers serving finance teams, the mid-market has become a more contested segment. Smaller businesses often start with basic accounting packages, but changing ownership structures, investor scrutiny and operational complexity can push them towards systems with broader reporting and consolidation functions.

Darren Cran, Chief Executive Officer at AccountsIQ, said: "Deloitte works with some of the world's leading business teams and, through this partnership, we can help ambitious mid-market companies build finance functions fit for growth.

"Unlike many competing platforms, our platform is designed with mid-market businesses in mind. In the age of AI and automation, AccountsIQ's current features and product roadmap will support Deloitte Ireland's future strategy."