NASHVILLE, TN and MUMBAI, MAHARASHTRA, INDIA – May 10, 2016 – Confirmation.com announced today that it has expanded its global presence with the acquisition of VeriFirm.in, an electronic audit confirmation solution based in Mumbai, India. This acquisition reinforces Confirmation.com’s leadership position as the global provider of secure online audit confirmation services and brings in VeriFirm.in’s local expertise of the Indian market.
"According to a recent market analysis, India is considered one of the largest markets for online audit confirmations," said Chris Schellhorn, CEO of Confirmation.com. "We are excited to have VeriFirm.in on board and are looking forward to expanding our service in this important market."
As part of this acquisition, VeriFirm.in will remain in Mumbai and integrate into the company's India subsidiary, Confirmation.com India Private Limited. VeriFirm.in's acting principles and employees will oversee operations for the Confirmation.com India office including marketing, sales, and support of the Confirmation.com service.
"We continue to see significant growth in online audit confirmations internationally because of the efficiency it brings to the audit process," said Dave Malone, president of Confirmation.com International. "India has been of great interest to us because of its growth potential and I'm pleased with our acquisition of VeriFirm.in because of their tremendous expertise in this region."
“As a Chartered Accountant, the confirmation process meant going back and forth between our office, client location and banks, carrying around confirmation letters and client authorisation letters,” said CA Kiran Uttam Bafna, country head of Confirmation.com India. “What should have been a simple process was not, which is why we created VeriFirm.in. I’m thrilled to join Confirmation.com and looking forward to expanding this global service into the Indian market.”
"With more than 100,000 auditors around the globe using our service, growing our international reach is extremely important to us," said Brian Fox, president and founder of Confirmation.com. "We're making great strides in making paper-and-post audit confirmations obsolete."
In addition to this acquisition, Confirmation.com has offices in North America and Europe, and reseller partners Confirmations Asia Pacific covering the Asia Pacific region, and CQS Technology Holdings covering Sub-Saharan Africa.
Confirmation.com is the world's leading provider of secure online audit confirmations. Today, 13,000 audit firms confirm over $1 trillion annually for 400,000 clients worldwide. Confirmation.com is used in over 140 countries by banks, companies and law firms to respond to audit confirmation requests. For more information, visit Confirmation.com.