Deloitte, a leader in audit and assurance, consulting, tax, and risk and financial advisory services, including more than a decade of experience providing end-to-end blockchain and digital assets services to clients – from traditional enterprises to digital asset-specific companies – and Bitwave, a leading enterprise accounting platform for digital assets, announced a groundbreaking strategic alliance.
The alliance brings together Bitwave’s cutting-edge software platform, which automates the flow of data from more than 70 blockchains and Decentralized Finance (DeFi) ecosystems into ERP systems such as Oracle NetSuite and Sage Intacct, with Deloitte’s innovative accounting, tax and governance, risk and controls advisory services to help deliver speed and process efficiencies, cost savings and compliance enhancements to businesses that utilize digital assets.
The rapid evolution and disruptive nature of the digital asset space has introduced a flurry of new data, risks, regulations, and complex compliance requirements that should be managed. The Deloitte-Bitwave alliance offers clients a suite of symbiotic digital asset offerings to manage these new complexities, including connecting blockchain data to the ERP system to help companies unlock valuable insights in near real-time, accelerating monthly close with automated accounting, and streamlining crypto payments. The alliance also addresses assisting companies with their compliance with accounting principles generally accepted in the United States (U.S. GAAP) and International Financial Reporting Standards (IFRS), mitigating risk and increasing transparency through enhanced processes and controls, considering tax in the transaction flow, and navigating global tax compliance requirements.
“Bitwave’s sub-ledger offering brings a thoughtful approach to supporting the complex nature of digital asset-based transactions. It is a technology that resonates with the early-stage crypto natives as well as mature corporate enterprises, across industries. Our complementary skillsets will bring unique opportunities to collaborate with the Bitwave team as we memorialize this relationship into an official alliance,” said Rob Massey, partner, Deloitte Tax LLP, and global US tax blockchain and digital assets leader.
“Serving hundreds of customers has taught us an incredible amount about the landscape of digital assets at enterprises. We’ve learned that successfully adopting digital assets is often about more than just the technical offerings that Bitwave brings but a complex dance of process choices, accounting decisions, and implementation queries. Our alliance with Deloitte allows us to leverage their deep professional services, multidisciplinary specialization in finance, tax, and digital transformation to help solve not just technical challenges, but organizational ones as well. Together, we’re not merely navigating this burgeoning space; we’re redefining it. The collaboration with Deloitte’s passionate and skilled team has been a pleasure, and marks a commitment to excellence, efficiency, and addressing compliance. We’re invigorated and inspired to set new benchmarks in the industry,” said Patrick White, co-founder and CEO of Bitwave.
SOURCE: Prnewswire