Isabel Group acquires ClearFacts to accelerate digital accounting
Brussels, November 20, 2018 – Isabel Group announces the acquisition of ClearFacts, a digital collaboration platform for accounting firms and their clients. ClearFacts helps to simplify and streamline the accounting function by digitalizing documents, processes and payments, and enabling digital accounting collaboration. The management team of ClearFacts remains on board to help accelerate the growth of the company as part of Isabel Group.
The acquisition of ClearFacts will significantly expand the portfolio of digital accounting solutions of Isabel Group. It greatly underpins Isabel Group’s mission to help enable entrepreneurs to run their business without hassle. Isabel Group already has several solutions to enable digital accounting, such as e-invoicing, electronic bank account statements, electronic social security documents, digital signatures, and payments using Isabel 6, Belgium’s leading multibanking platform used by 27,000 companies. The combination of these with ClearFacts will bring digital accounting collaboration within reach of every accounting firm, and will help digitally transform paper document flows and business processes.
The ClearFacts solution provides an easy-to-use portal to receive, approve and pay invoices regardless of format. ClearFacts consolidates the input of invoices across all channels and formats, such as Peppol, Dropbox, CodaBox, and Zoomit, as well as in paper format, through smart text recognition and intelligent accounting scheme generation.
Today, ClearFacts integrates with 6 of the largest accounting software solutions used by 85% of Belgian accountants. Isabel Group will support the continued expansion of ClearFacts’ partner ecosystem with complementary solutions focused on invoicing and management reporting, all while strengthening the existing alliances with accounting software partners.
Early 2019, ClearFacts and CodaBox – a subsidiary of Isabel Group – will introduce an integrated solution to facilitate digital accounting collaboration. The solution will create an easy-to-use digital inbox for every accountant and his SME clients.
Pieter Evenepoel, CEO, ClearFacts, comments: “The combination with Isabel Group will help us accelerate the execution of our business plan. We will continue to focus on automation and efficiency gains for accounting firms and software partners, while delivering innovative solutions faster. With our joint solution with CodaBox, we want to increase the adoption of e-invoicing and stimulate digital accounting in Belgium.”
Jean de Crane, CEO, Isabel Group, says: “I’m greatly looking forward to working with the ClearFacts team. Their innovative approach to digital accounting is a perfect match with our e-invoicing, digital signature and payments solutions. As such, we will provide accounting firms with a one-stop shop collaboration solution to process, approve and integrate any business document.”
ClearFacts was established in 2014 and is headquartered in Antwerp. Today, the ClearFacts team of 15 serves over 100 accounting firms and more than 12 000 SMEs in Belgium and Luxembourg.