Ceterus Automates More Than 10 Million Financial Transactions in 2018 for Small Business and Franchise Entrepreneurs

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Small business and franchise entrepreneur company solidifies position as premier done-for-you accounting solution; celebrates successful year highlighted by product innovation, industry award recognition, and continued customer adoption.

“Accounting shouldn’t be something you have to do. It should be a strategic tool to help fuel better business decisions. Ceterus Edge provides a comprehensive, real-time view of my financials to ensure I’m making the best decision for the future of my business."

Ceterus, a done-for-you accounting and benchmarked reporting solution today announced it has automated more than 10 million transactions to date on behalf of small business and franchise owners. This impressive company milestone rounds out a successful year, highlighted by innovative product development, industry award recognition and continued customer adoption as small business and franchise entrepreneurs recognize the power of Ceterus Edge to deliver real-time financials and facilitate strategic decision making on the go.

Earlier this year,Ceterus closed $10M in Series B funding. The additional funding helped expand the leadership and accounting team. The company was also named to the Inc. 5000 for the third consecutive year.

Unlike anything else in the market today, Ceterus relies on a revolutionary approach to accounting called Solution-based Accounting (SbA). In SbA, concept-based coding rules are applied in franchise and small business verticals that automate the process of transaction coding. Ceterus leverages AI and machine learning to intelligently code transactions in the future based on millions of past transactions. This allows accountants to provide customers with a full solution instead of just completing their accounting processes.

In today’s fast-paced, mobile-first business environment, on-demand access to real-time financials is a requirement. To arm customers with the critical insight needed, this year Ceterus unveiled the Ceterus Edge Mobile app, giving entrepreneurs access to their updated financials - anytime, anywhere. Empowered with this insight, small business owners can now confidently execute critical business decisions on the go. The new app was named Best New Mobile App by Best Mobile App Awards shortly after it was announced this year.

"As I grow out my business and build out other concepts, digging down into financials is not where I want to spend my time. I want access to a clear snapshot of my business so I can make the best decision possible. At the end of the day, my job is to hire the best people, train them, and keep them motivated. Ceterus helps me stay focused on my job," said Kal Gullapali, a multi-unit Orangetheory Fitness franchisee.

Ceterus continued its strong foothold among franchisees in 2018, underscoring its leadership position as the de facto done-for-you accounting solution for time-strapped small business owners. Customers in rapidly expanding franchise brands such as Anytime Fitness, Jimmy John's, Orangetheory Fitness, and Pure Barre, rely on the insightful, relevant, real-time financial data delivered via Ceterus Edge to grow and expand their businesses effectively.

According to Rachel True, multi-unit Pure Barre franchisee, “Accounting shouldn’t be something you have to do. It should be a strategic tool to help fuel better business decisions. Ceterus Edge provides a comprehensive, real-time view of my financials to ensure I’m making the best decision for the future of my business.”

Recognizing the intense pressure restaurant franchise owners are under to stay up to date with financial information, this year, Ceterus also unveiled Ceterus Edge Restaurant, an end to end, automated accounting and benchmarking solution designed specifically for franchise restaurant owners. Ceterus Edge Restaurant empowers owners with on-demand access to their financial portfolio across franchise locations, as well as critical peer benchmarking capabilities to assess performance among expenses, revenue, margin and net income. With Ceterus Edge Restaurant, customers including Jimmy John’s and Marco’s Pizza franchisee owners can keep a pulse on the financial health of their business at any time and know exactly where to invest time and capital. Marc Largent, a Jimmy John's franchisee, said, “I appreciate cloud-based solutions that make my job easier and allow me the freedom to stay focused on my business; Ceterus Edge is no exception. Having my financials delivered to my laptop each period has been immensely helpful.”

Todd Recknagel, multi-unit Massage Envy franchisee and former President and CEO of Mr. Handyman Franchise said, “We like speed and the visibility at all levels. We wanted our business to be highly automated - and needed a fast, easy way for our management team to see our numbers. The Ceterus Edge platform saves us a ton of time and offers easy access to the financial information needed to quickly make important decisions.”

“Empowering entrepreneurs is our company mission, and automating their financial transactions so they can have real-time financial data at their fingertips is one way we measure how close we are to that goal,” said Levi Morehouse, Ceterus CEO. “We want entrepreneurs to be able to look at their financial data and make future decisions, and automation, AI and machine learning are tools we are using to build that for them. We are grateful for a successful year and look forward to continued momentum in 2019.”

About Ceterus

Ceterus empowers small business entrepreneurs with done-for-you accounting and benchmarked reporting. Ceterus’ Edge Automation system automates entries into QuickBooks Online and aggregates financial data to provide peer benchmarked reporting. Ceterus pairs technology with people to deliver a one-stop solution for entrepreneurs. Headquartered in Charleston, SC, Ceterus has been named to the Inc. 5000 for three consecutive years. For more information, visit http://www.ceterus.com/solutions.

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