IRIS's Americas M&A Strategy and Innovation Drive 2022 Growth

3 minutes length

Posted: 24th January 2023

Commitment to global vision and top executive hires fuel nearly 30% revenue growth as over 6,800 accounting firms now utilize IRIS to improve internal efficiencies and ensure compliance

IRIS Software Group (IRIS), a leading global software provider of accountancy and document management solutions, today announced record growth in the Americas region for 2022. Driven by M&A, innovation and strategic senior hires, IRIS recorded 28 percent revenue growth as it successfully executed its vision to supercharge the company’s operations in the Americas. Accounting firms continue to select IRIS solutions to support their business objectives, drive efficiency at scale and help them introduce new value-added services to their clients.

2022 saw IRIS accelerate its M&A and innovation strategies to deliver solutions that meet critical market and client demand while making data security, compliance, and customer experience a top priority. As accounting firms struggled with talent attraction and retention, they’ve recognized how important it is to deploy best-in-class solutions that enable them to drive efficiency and deliver the quality services their customers expect with limited staffing. To meet this need, IRIS continued its aggressive M&A strategy in the Americas to ensure firms can remain compliant while introducing new client services. Key milestones included:

myPay solutions – IRIS acquired myPay solutions in October 2022 to strengthen the company’s payroll offerings. myPay by IRIS provides comprehensive outsourced payroll and associated banking and tax services via CPA firms to small and medium-sized businesses across all 50 states in the United States.
AccountantsWorld – The December 2021 acquisition drove the launch of the IRIS Employee Self Service (ESS) module for Payroll Relief that enables accountants to offer clients a streamlined payroll onboarding process for their employees and allows employees to manage data updates through a single, centralized portal. The AccountantsWorld by IRIS Payroll Relief solution also achieved System and Organization Controls (SOC) 2 Type II compliance in 2022, a testament that the solution provides enterprise level security to protect vital customer data.
Doc.it – Following its 2021 acquisition of Doc.it, IRIS expanded its document management capabilities in 2022 to include the most recent release which provides cloud-based document management to meet growing demand for systems that offer accountants flexibility and scalability and enable them to migrate to the cloud at their own pace.

As a result of this progress, IRIS now supports 52 of the top US 100 CPA firms as well as 6,800+ small and midsized firms including Baker Tilly, PSB Boisjoli, Kassouf & Co., Farm Credit East, ACA and BBFS, Inc. This is a testament to IRIS’s ability to provide the solutions that any sized accounting firm requires to be more efficient and increase margins while growing their businesses.

IRIS also invested in key strategic C-level hires in the Americas in 2022, appointing Jim Dunham President and General Manager and Paul Nagy Chief Product Officer. Strengthened leadership in the Americas allows IRIS to work directly with clients and staff to drive sustained growth and innovation. Over the past year, IRIS experienced 61% employee growth in the region.

Jim Dunham, President and General Manager, IRIS says, “For more than 40 years IRIS has consistently invested in its people, products and professional services to enhance how we collaborate with clients to take the pain out of processes. Our growth in 2022 is a testament to our commitment to the Americas and positions us for continued growth in 2023 as we continue our focus on customers while delivering best in class solutions for Practice Management, Document Management and Payroll.”

IRIS also received continued industry recognition throughout the year for its innovation and service including the Prime Award, Technical Support Award and Small CPA Solution Award at the K2 quality awards. IRIS CEO Elona Mortimer-Zhika was also recognized in the top 100 influential people in accounting by Accounting Today for IRIS’s entrance into the Americas market and M&A strategy.

Barry Brown, CIO, MS Tiller says, “Historically, the accounting industry has had two major players that dominated the landscape. IRIS is definitely leading the charge to be that third big player in the industry.”