April 16, 2019

Eide Bailly LLP is acquiring Utah-based Xerva, a data analytics and data warehouse provider, on May 1.

The move underscores accounting’s future in advanced analytics and the growing importance of data management in the marketplace and offers service targeted toward midmarket clients, Eide Bailly said in a statement.

“With the proliferation of big data in the market, business intelligence and data analytics services are in high demand from businesses of all sizes and industries,” said Scott Kost, director of Eide Bailly’s technology consulting practice.

“Xerva’s addition is the perfect complement to our existing client offerings because, when you think about it, Eide Bailly works in data every day — whether it’s an audit or an ERP (enterprise resource planning) implementation. With this expanded technology specialization, we are better equipped to help our clients understand and get the most out of their business data.”

Xerva was founded in 2014 with the goal to provide enterprise-level data solutions to the midmarket. Its focus is “on helping clients take control of their data chaos and gain real business intelligence from their systems and reporting.”

“We grew from the realization that midmarket companies have all of the same data challenges that Fortune 500 companies do,” said Nate Allphin, co-founder. “Our team brings business intelligence to organizations that often feel enterprise analytics are out of reach.”

The addition is meant to further position Eide Bailly as an innovative and forward-looking business advisory firm in the CPA space, the firm said.

“We believe the future economy is all about your data,” said Jon Ault, Eide Bailly’s data analytics practice lead. “The winners in the next Industrial Revolution will be those that figure out how to effectively use their data to improve their decision making and operations. With Xerva joining our team, we’ll be able to add deeper data understanding to all of our Eide Bailly service areas. It’s a win across the board.”

Traditionally known as a top 25 CPA firm, Eide Bailly has diversified its portfolio of services in recent years, with a series of strategic mergers to grow its cybersecurity, NetSuite ERP and Salesforce CRM practices.

“As a firm, we strive to continually develop and provide innovative services and solutions to clients,” CEO Dave Stende said. “Offering the right technology is an essential element to that success. The Xerva team will be a tremendous addition to our award-winning technology practice and shows the market that Eide Bailly is ready to help them take on whatever challenges they face today.”

Xerva adds more than 20 staff to Eide Bailly’s data analytics team, who will continue to be based in Utah.

Fargo-based Eide Bailly has 34 offices in 15 states, including South Dakota with locations in Sioux Falls and Aberdeen.