Cegid acquires Loop, the leading cloud-based accounts management and taxation solution, designed with KPMG
Paris-Lyon, 6 September 2018 – Cegid, a major player in terms of management solutions for professionals in Accounting, Finance and Taxation, Payroll and HR, announces the acquisition of the Loop Software company, thereby bolstering its expertise in the accounting sector. Loop Software, the web software company designed for accountants and EPTs/SMEs, was founded in 2012 from a strategic partnership between KPMG France and a team of experts in web technologies.
In the general context of the digitalisation of the accounting sector, Loop Software and KPMG wanted to link up with Cegid, a leading player in the market, to fast-track the development of Loop and continue to break new ground through technological and human investment.
Loop Software has developed a collaborative cloud-based accounts management and taxation solution for EPTs/SMEs and the accounting sector with help from KPMG. Loop is already used by 35,000 clients, who will join the 150,000 EPTs already using Cegid’s collaborative solution.
Loop’s solution is currently used by over 4,000 accountancy professionals at KPMG and allows the firm to rethink staff practices to offer clients greater added value.
From the beginning, Cegid’s goal has been to help accountants transform their profession, allowing them to look to the future with confidence. For Cegid, Loop represents a strategic solution for developing a comprehensive offering that builds on its existing offerings for the accounting sector.
“In acquiring Loop, we are further enhancing our strategy towards the accounting sector. As a leader, we are committed to positioning ourselves as trailblazers in the digital transformation of this sector. Combining Loop and its technology with our know-how and established expertise in this market will enable us to take up this challenge more quickly and with greater power; Cegid is in the best position yet to provide innovative and useful solutions for the sector. ” said Pascal Houillon, Cegid’s CEO.
“Merging with Cegid, a well-known and ambitious player in the industry, represents a fantastic opportunity for Loop and its staff. It will reinforce the progress made since 2012 to make Loop an industry leader, while giving it the means to move faster and have an even more significant impact on the market thanks to Cegid ” added Christian Taltas, Founder and Director of Loop.
KPMG will continue to use Loop and expand its use within the organisation for maximum possible benefit. “We are pleased to have helped nurture Loop and the first successful stage of its development. Linking Loop to Cegid will help fast-track its development, especially outside of KPMG’s ecosystem. Drawing on effective technology solutions and Cegid’s know-how, KPMG is further enhancing its expertise and service provision to clients,“ added Jérôme Kieffer, KPMG Partner and Executive Committee member responsible for Accountancy and Consultancy.
About KPMG France
A leader in auditing, consulting and accountancy, KPMG France is part of KPMG International, a network of independent auditors practising in 154 countries through 190,000 professionals. In France, our 9,000 staff are involved with LARGE CORPORATIONS in France and internationally, ETIs and family groups, as well as SMEs/EPTs and start-ups across all areas of activity. Dealing with managers for more than a century, KPMG supports close to 30% of SMEs, 50% of ETIs, 47,000 small businesses, large numbers of start-ups and more than 6,500 SSEs.
Loop develops web software for accountants and SMEs/EPTs. The company was born in 2012 from the meeting of accounting professionals and experts in web technologies. Its DNA is unique: taxation and accounting expertise with recognised competence in all professional fields, coupled with a thorough understanding of new Cloud technologies. Loop’s main focus involves simplifying the user experience, reducing the time spent on accounting tasks and minimising costs, all while incorporating the best technology around.