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UK-based business management software provider The Access Group is consolidating its technology holdings in Australia with the acquisition of ATO SmartDocs, a Melbourne company that automates document processing with the tax office for accounting firms.
The acquisition for an undisclosed adds to The Access Group's purchase of recruitment onboarding software company Onboarded and its conversion platform smartAI late last year, as well as the acquisition of ChangeGPS in early 2024 and Reckon’s (ASX: RKN) Accountants Practice Management Group in 2022 for $100 million.
Founded in 2015, ATO SmartDocs currently processes more than 1.5 million documents annually, and claims to achieve 95 per cent efficiency compared to manual processing across the full range of 600 Australian Taxation Office (ATO) document types.
Serving a large number of accounting firms across Australia, ATO SmartDocs' SmartBOT AI technology reduces administrative time while maintaining ISO27001 security standards recognised by the ATO and accounting firms.
ATO SmartDocs CEO Ron Drost says joining The Access Group opens "tremendous opportunities" for the company's accounting firm customers to access complementary solutions to maximise their potential.
"Our clients will benefit from market-leading innovation in AI technology via the Access Evo platform, opportunities to explore enhanced product capabilities and potential integration with broader business management solutions, as well as significant ongoing investment in Australian regulatory requirements," Drost says.
"This partnership delivers immediate value by bringing together the benefits of a global software group with the local knowledge and expertise essential for our compliance-heavy industry.
"We can now offer even greater value to customers seeking integrated accounting solutions, and this combination creates a powerful platform for sustainable growth across the Australian accounting sector."
Jared Baker, general manager of Access Accountants at The Access Group, says the acquisition represents a "pivotal moment" in the group's mission to provide Australian accounting firms with best-in-class, connected software solutions.
"This platform addresses specific regulatory requirements for Australian accounting firms while creating possibilities for integration with our broader business software portfolio," says Baker.
"By bringing ATO SmartDocs into our connected suite alongside HandiSoft, APS, Fathom, ChangeGPS and Elite, we're delivering on our vision of providing integrated solutions while maintaining open standards. We understand the importance of flexibility in technology choices."
Baker says ATO SmartDocs will continue to maintain its existing integrations with third-party practice management systems, with the new owners "committed to supporting open APIs and data portability standards".
"This enables our customers to drive profitable and sustainable growth while focusing on higher value-added services rather than manual compliance tasks that eat up time and divert attention away from driving growth," he says.
"The combination addresses the software market's fragmented nature by offering customers an integrated experience from practice management through to automated ATO communication and compliance support.
"Existing Access customers gain access to ATO SmartDocs' established functionality and regulatory workflows, while ATO SmartDocs clients can explore our broader product capabilities for enhanced operational efficiency.”
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