- The alliance lets companies manage new regulations, data, risks
- It makes crypto payments simpler, speeds up close with automated accounting
Deloitte, a leader in financial consultancy, risk, tax, audit and assurance services, and Bitwave, a major corporate accounting digital asset platform, announced a groundbreaking strategic partnership, Bankless Times learned from a press release.
Cutting-edge software, novel accounting services
Bitwave's top-of-the-line software platform automates data flow from dozens of blockchains and DeFi ecosystems into Sage Intacct, Oracle NetSuite, and other ERP systems. Deloitte is renowned all over the world for its innovative risk, tax, accounting, governance, and advisory services.
The partnership combines both companies’ strengths to achieve speed and process efficiencies, enhance compliance, and save costs on behalf of clients.
Managing new data, risks, regulations
The lightning-speed evolution and disruptive essence of the digital asset realm has resulted in a vast range of new regulations, data, risks, and complicated compliance requirements that need to be addressed. The partnership between Deloitte and Bitwave offers clients a series of digital asset approaches to manage them.
Making crypto payments easier
The approaches include making crypto payments simpler, speeding up monthly close with automated accounting, and connecting blockchain data to the ERP system to help businesses achieve valuable insight in almost real-time.
More transparency, less risk
The partnership will also help businesses increase transparency, reduce risk, and comply with generally accepted accounting principles in the US (GAAP) and International Financial Reporting Standards (IFRS). This will be possible through enhanced control and processes, meeting international tax compliance requirements, and considering tax in the transaction flow.
Rob Massey, partner at Deloitte Tax LLP, commented:
Our complementary skillsets will bring unique opportunities to collaborate with the Bitwave team as we memorialize this relationship into an official alliance.
Patrick White, cofounder and CEO of Bitwave, added:
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. The collaboration with Deloitte's passionate and skilled team has been a pleasure, and marks a commitment to excellence, efficiency, and addressing compliance.
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