Paychex Announces Strategic Partnership with Leading Cloud Accounting Provider

Paychex, Inc., a leading provider of payroll, human resource, insurance, and benefits outsourcing solutions for small and medium-sized businesses (SMBs), today announced it has formed a strategic partnership with Kashoo, a leading provider of cloud accounting software. Available on the web and via the Kashoo iPad® app, Kashoo helps small business owners easily manage their business finances and collaborate with their accountants.

Paychex president and CEO Martin Mucci says Paychex’s strategic decision to make an equity investment in Kashoo reflects the latest expansion of products and services Paychex provides to its small and mid-sized clients and the accounting community, and helps set the stage for future innovative solutions.

“We are very excited to be investing in and partnering with Kashoo, one of the leading small business accounting applications in the marketplace,” Mucci says. “Paychex has a history of great partnership with the CPA community, and now offering our clients and CPAs a simple to use and effective cloud accounting solution that will be integrated with the leader in payroll and human resource offerings will be very powerful.”

Based in Vancouver, British Columbia, Canada, Kashoo gives small business owners the ability to take control of their accounting—from invoicing to bank reconciliation to report generation—anywhere, anytime. Kashoo CEO Jim Secord notes that this partnership holds massive promise for small business owners.

”Naturally, this is an exciting moment for Kashoo,” Secord says. “But, ultimately this announcement is going to help our customers do what they do best, and that’s run a great small business.”

As part of the partnership, two Paychex executives are now members of the Kashoo board of directors: senior vice president of information technology, product management and development, Michael E. Gioja, and vice president of marketing Andy Childs.