US-based Zone & Co has acquired Australia-based Infinet Cloud to expand its presence across the UK, Australia, New Zealand and Canada.
Apart from expanding its geographic presence, Zone & Co also aims to improve its existing portfolio of NetSuite enhancing applications, Zone Apps, to also include payroll and HR capabilities alongside finance solutions. This way, the company is improving its ability to help the office of the CFO and adjacent teams work in a smarter, faster, and more secure way while adding platform value.
As part of the acquisition, Infinet Cloud’s global team, its three founding partners and existing clients, will migrate to Zone & Co. The two companies will eventually fully integrate their operations, a process that will likely finalise by the end of 2023.
In the official press release, Infinet Cloud representatives highlighted the shared values between the two companies, as well as the acquisition’s role in accelerating Infinet’s growth. They also talked about a growing trend among their customers to maximize their NetSuite investment and bring Accounting and Payroll functions together.
Officials from Zone & Co emphasised the closely connected nature of HR and finance and mentioned that the addition of Infinet Cloud's Payroll solutions to their portfolio makes sense for them and their customers.
Zone & Co is a provider of cloud-native software solutions built on the Oracle NetSuite platform. Developed by and for finance and accounting professionals, the company’s Zone Apps portfolio was designed to automate and simplify critical financial data and workflows across business entities. In essence, Zone Apps allows customers to manage their back-end operations on a single platform without sacrificing real-time connectivity to their front-end growth.
Delivered as software-as-a-service (SaaS), the product offers various solutions for complex billing and revenue recognition, AP automation, advanced reporting, payments, reconciliations, and approvals that help customers around the world work in a more efficient and secure manner. The end goal is to ensure more accurate finance operations, helping companies focus more on their growth.
Infinet Cloud is a global provider of international payroll and employee-centric solutions. The company is based in Australia and is an Oracle NetSuite partner. Its cloud-native apps help customers across 10 countries streamline payroll and leave management, and automate journal creation, seamlessly in NetSuite.
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