Confirmation.com has expanded its global presence by acquiring Mumbai, India-based electronic audit confirmation solution VeriFirm.in.
Confirmation.com’s acquisition takes advantage of VeriFirm.in’s regional expertise to grow the secure online audit confirmation provider’s market presence.
VeriFirm.in will remain in Mumbai and integrate into the company’s India subsidiary, Confirmation.com India Private Limited. VeriFirm.in’s acting principles and employees will oversee operations, including marketing, sales and service support, for the Confirmation.com India office.
“According to a recent market analysis, India is considered one of the largest markets for online audit confirmations,” stated Chris Schellhorn, CEO of Confirmation.com. “We are excited to have VeriFirm.in on board and are looking forward to expanding our service in this important market.”
“We continue to see significant growth in online audit confirmations internationally because of the efficiency it brings to the audit process,” stated Dave Malone, president of Confirmation.com International. “India has been of great interest to us because of its growth potential and I’m pleased with our acquisition of VeriFirm.in because of their tremendous expertise in this region.”
The India expansion adds to Confirmation.com’s offices in North America and Europe, and reseller partners Confirmations Asia Pacific covering the Asia Pacific regions and CQS Technology Holdings covering sub-Saharan Africa.
“As a Chartered Accountant, the confirmation process meant going back and forth between our office, client location and banks, carrying around confirmation letters and client authorisation letters,” stated CA Kiran Uttam Bafna, country head of Confirmation.com India. “What should have been a simple process was not, which is why we created VeriFirm.in. I’m thrilled to join Confirmation.com and looking forward to expanding this global service into the Indian market.”
“With more than 100,000 auditors around the globe using our service, growing our international reach is extremely important to us,” stated Brian Fox, president and founder of Confirmation.com. “We’re making great strides in making paper-and-post audit confirmations obsolete.”
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