XCM Solutions, LLC, a leading provider of Cloud-based workflow management software for the accounting profession, announced the appointment of Mike Sabbatis to the XCM Solutions Board of Directors. Recognized best for his leadership in delivering innovative solutions to the accounting industry, Sabbatis will help the company in the execution of an aggressive growth strategy, as it prepares to meet the growing demand for workflow management software among accounting professionals. "Workflow management seems to have really bubbled up, and XCM has the strongest application on the market," said Sabbatis.
The market for workflow management software is reaching critical mass as firms of all sizes look to technology to streamline and standardize more efficient digital processes. XCM Solutions is planning to significantly expand its presence across all market segments, building on the success it has achieved in serving 30 percent of the Top 200 firms in the nation, in addition to more than 400 small to midsize firms that currently use XCM.
"Serving small, medium, and large companies, XCM absolutely can scale. They have significant customers in all of these spaces. There's no limit to what they can do," said Sabbatis.
According to CPA Trendlines Research, a full two-thirds of tax and accounting firms report that workflow innovation is a high priority item for the coming year. "As a profession, we've gone past paperless – you're either paperless or obsolete – and so the next move is streamlining your workflow. CPAs are looking for vendors that can solve their workflow problems and give them a competitive advantage," said Rick Telberg, CEO of CPA Trendlines Research and CPATrendlines.com.
"It's an exciting time in the life cycle of a software company, as we are seeing a broad market adoption of workflow software," said Sabbatis. "XCM Solutions had the vision in this area and is at a level of maturity where their applications are proven to meet the needs of firms large and small. They have deep subject matter expertise and a passion that positions them well to capitalize on the market opportunity."
Former president and CEO of CCH Tax and Accounting, a Wolters Kluwer business, Sabbatis is widely recognized in the accounting space as an innovator in delivering new solutions and business models for Cloud computing, SaaS, and mobile technology, and for pioneering the "paperless" revolution. His broad industry expertise reaches deep into accounting and finance workflows, extending to solutions that support the end-to-end processes for professional firms.
Since leaving CCH, Sabbatis has been providing advisory services for a number of different companies and industries. "This aligns well with my experience and is really rewarding, it’s a great extension for me and the kind of work I love to do."
Sabbatis was responsible for leading a customer-centric set of business units in CCH's professional and corporate software, information, and services markets. Prior roles included executive vice president of Global Sales and Marketing and vice president of Business Development. He also served as CMO at Advantage MOTI, a joint venture with Datamatics, Ltd. focused on BPO, and as vice president of Business Development and Strategic Accounts at Thomson Corporation.
"Over the years, our experience in working with Mike as a customer, business partner, and a competitor has been one of mutual respect and collaboration – through our common goal of providing the best solutions for practitioners," said Mark Albrecht, founder and CEO, XCM Solutions. "His leadership, deep industry knowledge, and broad expertise will no doubt serve as assets in guiding us through this exciting phase in the life of our company. However, to me, it's really his vision and passion that make him such a good match for our culture."
Sabbatis' appointment to XCM's board is the latest in a series of recent high-profile appointments the company has made in key areas to prepare for growth. Late last year, XCM Solutions announced Kim Hogan's appointment as the director of West Coast Operations and, earlier this year, Joe Manzelli Jr. joined the company as a leader in its Outsourced Workflow Division. The Company also announced record sales results for the 2012 fiscal year – reporting significant growth across all product categories, including growth in net new business by 89 percent over the previous fiscal year and overall growth of 39 percent over the same period.
About XCM Solutions, LLC
Founded by CPAs, XCM Solutions, LLC provides accounting firms with web-based workflow management solutions that increase efficiency, productivity and profitability. The company's management team has drawn on its extensive experience in public accounting and clear understanding of the paper-driven workflow issues facing the profession to develop technology that addresses those challenges.
XCM's customer-guided development process has helped the company continuously raise the bar for business process automation solutions for the accounting profession. The award-winning XCM workflow management software has become a key piece of the technology equation for firms reengineering paper-based processes as they move toward a paperless environment.
In 2010, CPA2Biz, a subsidiary of the American Institute of Certified Public Accountants (AICPA), and XCM Solutions formed a strategic alliance to bring the XCM workflow management software into CPA2Biz's Trusted Business Advisor(SM) Solutions Cloud computing platform. For more information, visit www.xcmsolutions.com.