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Rightworks Acquires Cybersecurity Provider Practice Protect

Posted by Matt Raebel on Jun 28, 2024 3:00:00 PM

Rightworks LLC announced that it has acquired the Australian accounting-focused cybersecurity firm Practice Protect. The announcement included plans to integrate Practice Protect into OneSpace, Rightworks' intelligent cloud platform, to improve its efficiency and security capabilities.

"We are excited to welcome the Practice Protect team to Rightworks," Joel Hughes, CEO of Rightworks, said in a press release. "The addition of the team and technology helps us continue our mission to deliver a secure, purpose-built cloud that gives accounting professionals easy access to all the cloud and desktop applications they need to create a profitable and modern business."

Jamie Beresford, CEO and co-founder of Practice Protect, celebrated the news in the press release. “For the last several years, we've searched for the right US-based partner that prioritizes the accounting profession’s interests, shares our mission, and is leading the charge in North America with new innovations, thought leadership, and community. Our team is thrilled to now be part of Rightworks and to embark on a united mission to protect the profession from expanding cyberthreats targeting both firms and their clients.”

Rightworks also announced that it will also continue to offer Practice Protect as a standalone product for those in markets outside of the U.S., including Australia and New Zealand.

New integration adds features, improves capabilities of OneSpace

Rightworks’ platform OneSpace is designed to unify accounting and tax applications—such as QuickBooks—and streamline financial operations for the businesses of its users while ensuring robust user data security.

The company aims to simplify the complexity of managing accounting practices through OneSpace by providing a single point of access to critical applications and resources so users can focus on delivering high-value services to their clients. The platform allows users to collaborate remotely with staff and clients, utilize data insights, and access technical support.

By incorporating Practice Protect’s cloud-based cybersecurity functions into OneSpace, Rightworks seeks to provide more robust and comprehensive solutions tailored to accounting firms' evolving needs, including better client data management, risk management, and compliance solutions.

Driving innovation

Accounting firms today face several significant challenges, including staffing shortages, changing client expectations, and the increasingly competitive tech landscape. With this new acquisition, Rightworks seeks to position itself strategically as a leader in not only accounting technology but also cybersecurity solutions for accounting firms.

Rightworks also offers another platform called “Rightworks Academy,” an online community of client accounting service (CAS) professionals built to support other professionals as they grow their firms, optimize their practices, and expand their expertise as professionals.

Disclaimer

The Woodard Report is proud to have Rightworks as a sponsor. However, this article is intended to serve as a timely source of industry news, not as a promotional vehicle for Rightworks or its products.

Topics: Finger on the Pulse, Business Technology


 

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