Digits Acquires Basis Finance to Enhance FP&A Capabilities

Author

Slice of Finance Team
25 Jun

Key Highlights:

  • Digits acquires Basis Finance, enhancing FP&A capabilities.

  • Accelerates Digits' FP&A roadmap and extends dashboard reporting.

  • Basis Finance enables easy budgeting and forecasting with integrations.

  • Co-founders and team continue at Digits post-acquisition.

  • Launch planned for later this year.

Source (PR Newswire)

Notable Quote

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"Good FP&A is an extension of good accounting. One of the key challenges in running a good budgeting and planning process is access to clean financial data and expertly built financials. Digits is the source of that good data, and Basis will be able to accelerate the use of this data to support forward-looking decision making."

Jeff Seibert, Co-founder and CEO at Digits

Our Take:

The acquisition of Basis Finance by Digits represents a strategic move to bolster its FP&A capabilities amid a challenging economic landscape. By integrating Basis Finance's advanced budgeting and forecasting tools, Digits is poised to offer startups a comprehensive financial management solution that combines automated bookkeeping with robust financial planning. This acquisition not only accelerates Digits' FP&A roadmap but also underscores the growing importance of accessible and accurate financial data in decision-making processes for startups. The continued involvement of Basis' co-founders and team ensures a seamless transition and augments Digits' expertise, setting the stage for a successful product launch later this year.