Cherry Bekaert Expands ERP Services with Acquisition of ArcherPoint

Overview of the Deal: Raleigh, N.C.-based firm Cherry Bekaert, with a FY23 net revenue of $572 million, has announced the acquisition of ArcherPoint, a Microsoft Certified Solutions partner with a significant presence across North America and Europe. This strategic acquisition enhances Cherry Bekaert’s enterprise resource planning (ERP) services and marks a key expansion of its operations into Canada.

Context and Rationale for the Acquisition: The addition of ArcherPoint builds on Cherry Bekaert’s recent growth in ERP services, particularly following its acquisition of Kerr Consulting. ArcherPoint, headquartered in Lawrenceville, Georgia, generates approximately $32 million in total annual revenue and offers over 20 years of expertise in ERP implementation, integration, development, support, and upgrades for various industries, including manufacturing, distribution, retail/e-commerce, and professional services. This acquisition enables Cherry Bekaert to offer tailored solutions to a broader client base while enhancing its technological capabilities.

Main Goals and Targets: The primary aim of the acquisition is to strengthen Cherry Bekaert’s Microsoft offerings and provide digitally driven, industry-aligned solutions to its clients. By integrating ArcherPoint's services, the firm seeks to improve its advisory capabilities regarding the best business applications suited for clients’ needs, ultimately enhancing operational efficiencies and customer experiences.

Details About the Firms Involved:

• Cherry Bekaert: A leading global technology-enabled professional services firm, Cherry Bekaert offers accounting, tax, and advisory services. With its recent acquisitions, the firm has positioned itself to leverage advanced ERP solutions and consulting services.
• ArcherPoint: As a Microsoft Dynamics Gold-certified partner, ArcherPoint specializes in delivering Microsoft Dynamics 365 Business Central and other modern workplace solutions. The firm also has offices in Canada and India, expanding its geographical reach and service offerings.

Impacts of the Partnership on the Industry: This acquisition is set to significantly enhance Cherry Bekaert's position in the ERP marketplace, enabling the firm to deliver comprehensive technology solutions that align with evolving client demands. By combining the strengths of both firms, clients can expect improved service delivery, innovative technology solutions, and streamlined processes across various sectors.

Statements from Leadership: Michelle Thompson, CEO of Cherry Bekaert Advisory, emphasized, “The addition of ArcherPoint’s capabilities enhances our Microsoft offerings and strengthens our ERP capabilities across the board, providing a great benefit to our clients. This acquisition boosts our ability to bring digitally driven, industry-aligned solutions to the marketplace. This is an exciting step forward for both our firms.”

Greg Kaupp, CEO of ArcherPoint, added, “Joining forces with Cherry Bekaert brings tremendous opportunity for both firms’ clients. We are excited to work with a highly esteemed national firm and look forward to the benefits this will bring our clients and our people.”

Additional Insight: Satish Thomas, Corporate Vice President of Microsoft Business & Industry Solutions, noted, “The combination of Cherry Bekaert’s advisory, audit, and tax services with ArcherPoint as a Microsoft Dynamics 365 solutions partner will enable our joint customers to accelerate their digital transformation journeys. This collaboration enhances operational excellence, improves customer and employee experiences, and opens the door to innovative, digitally driven products and services.”