CLOUDIT Automation & Accounting Services LLC

Background

Founded in 2017, CLOUDIT Automation & Accounting Services LLC is a U.S.-based corporation specializing in remote staffing and automation solutions for accounting firms across North America. The company's mission is to alleviate the operational burdens of accounting professionals by providing expert support in bookkeeping, tax preparation, fractional CFO services, due diligence, audit preparation, and other back-office functions. With a team of over 150 staff members across the United States and remote staff from its headquarters in India, CLOUDIT aims to enhance efficiency and productivity for its clients.

Key Strategic Focus

CLOUDIT's strategic focus centers on delivering specialized back-office support, CRM, and staffing solutions tailored to the unique requirements of accounting professionals. The company addresses the needs of a broad spectrum of clients across various industries, including eCommerce, SaaS, real estate, mortgage, insurance, healthcare, entertainment, medical practice, logistics, supply chain, non-profits, and restaurants. By integrating automation tools with human expertise, CLOUDIT aims to revolutionize firms' growth and back-office workflows, enabling clients to offer exceptional, value-driven services.

Financials and Funding

As of the latest available data, CLOUDIT Automation & Accounting Services has an estimated annual revenue of $8.5 million, with a revenue per employee of approximately $93,500. The company has experienced a 44% growth in employee count, reaching 91 employees. Specific details regarding funding history and notable investors are not publicly disclosed.

Technological Platform and Innovation

CLOUDIT distinguishes itself through its proprietary practice management tool, designed to automate bookkeeping processes directly into client platforms such as QuickBooks, Xero, and MYOB. This automation reduces bookkeeping work from four hours to approximately forty minutes, significantly enhancing efficiency. The company's platform is custom-branded for each firm, ensuring seamless integration and a personalized experience.

Leadership Team

Sachi S. Mazumdar, Chief Operating Officer (COO)

With over 19 years of experience in financial planning and strategic decision-making, Sachi has held senior roles at KPMG, Credit Suisse, GE, and HSBC. As COO at CLOUDIT, she oversees the Financial Performance Improvement department, driving innovation and ensuring transparent financial reporting.

Tracey Ann Gordineer, Enrolled Agent (EA)

Tracey brings a unique blend of financial expertise and behavioral insight, holding a CERTIFIED FINANCIAL PLANNER™ (CFP) certification and a Master's in Social Work. She has served as President of the Georgia Association of Enrolled Agents and as a Director on the NAEA Board, focusing on comprehensive, fiduciary advice to individuals and businesses.

Competitor Profile

Market Insights and Dynamics

The accounting services industry is experiencing a shift towards automation and remote staffing solutions, driven by increasing client expectations and the need for cost-effective operations. Firms are seeking innovative technologies to streamline processes and enhance service delivery.

Competitor Analysis

CLOUDIT faces competition from companies offering similar services, including:

Walton Enterprises: Provides comprehensive accounting and financial services.

Stratagem CPA: Specializes in accounting solutions with a focus on automation.

McGuire Sponsel: Offers tax and accounting services with an emphasis on strategic planning.

These competitors focus on integrating technology with traditional accounting services to meet evolving client demands.

Strategic Collaborations and Partnerships

CLOUDIT has established partnerships with various accounting firms across North America, providing tailored back-office support and automation solutions. These collaborations aim to enhance operational efficiency and client service delivery.

Operational Insights

CLOUDIT's strategic considerations include leveraging its proprietary automation tools and experienced remote staff to offer scalable solutions that address the unique needs of accounting firms. The company's commitment to innovation and quality positions it as a competitive player in the market.

Strategic Opportunities and Future Directions

CLOUDIT plans to expand its service offerings by integrating advanced AI-driven capabilities and exploring new markets within the accounting industry. The company aims to strengthen its technological platform and enhance client engagement through continuous innovation and strategic partnerships.