Author: Gugu Lourie
CAPE TOWN, February 1st, 2016 – GreatSoft today announced that it has acquired Axia, a cloud-based payroll business, and PaperFreeWeb, a South African cloud-based document management and scanning solution company, for an undisclosed amount.
Effective 1st December 2015, GreatSoft, a leading African cloud-based solutions provider to the Accounting profession, bought 75% of Axia from Prosol Group and 75% of PaperFreeWeb from First Coast Technologies.
These acquisitions solidifies GreatSoft’s position as a Africa’s leader in providing fully integrated cloud-based practice management software solutions for accounting and auditing practices.
“These acquisitions are an ideal addition to GreatSoft and represent a natural progression in our ongoing global strategy to develop and grow customer relationships by providing comprehensive cloud-based practice management solutions,” said Bruce Morgan, CEO of GreatSoft.
“We value Axia’s world class, cloud-based employee management system and through this deal will use the combined strengths, experience and expertise of both these firms to position GreatSoft Payroll software solution to the world stage,”
“The acquisition of Axia will also enable our clients, which are global leading accounting firms such as Nolands Africa and Grant Thorton to diversify their sources of revenue by providing world-class cloud-based payroll services,” explains Morgan.
The acquisition of PaperFreeWeb will also enable GreatSoft to swiftly move its clients to a paperless society, where electronic documents are stored and retrieved from the cloud.
“The deal with PaperFreeWeb will provide our clients with encryption algorithms on documents inside their repository and provide users with a firewall to protect movement of data, and this is already setting us apart from bricks and mortar companies that provide storage of documents in store rooms that are at risk of being destroyed by elements such as fire,” said Morgan.
With the acquisition of Axia, its Managing Director, Dereck Gibbs, remains a 25% shareholder in the cloud-based payrol firm.
“This acquisition enhances our profile and reputation. And, as part of a much larger cloud-based technology Accounting Practice Management company, we are able to offer greater value to our customers and new ones through growing GreatSoft Payroll capabilities and their shared growth strategy,” said Gibbs.
Furthermore, Grant Stott Managing Director of PaperFreeWeb, will continue to hold 25% of the cloud-based document management firm.
“We expect GreatSoft CRM’s increased competitiveness following the acquisition of PaperFreeWeb Documentation business to be significantly enhancing to our shareholders,” said Stott.
About GreatSoft(Pty) Ltd
GreatSoft is an award winning CRM firm based in Cape Town, South Africa. GreatSoft provides fully integrated cloud-based management practice software solutions to Accounting practices and Firms. GreatSoft won the First National Bank (FNB) Business Innovation Award. As the recipient of this accolade GreatSoft CEO Bruce Morgan became a member of the Endeavor Entrepreneurs.
Axia is a comprehensive payroll and human resource information system (HRIS) solution that is centrally hosted and simply distributed. Standard browser based access reduces the amount of system administration and therefore the cost of ownership. It can be seamlessly integrated with other systems in the enterprise, and is fully secure from both a financial management and disclosure of sensitive information perspective.
PaperFreeWeb is a cloud based Document Management and Scanning Solution. PaperFreeWeb is based on CMIS standards and offers a range of solutions from electronic document management, filing and tagging, through to localised scanning and synchronisation, Microsoft Office productivity tools, mobile applications (iOS and Android) and version control. PaperFreeWeb amalgamates many aspects of the digital office and provides a one-stop solution from scanner (or electronic document) to the cloud in 60 seconds.
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