CliftonLarsonAllen acquires Engine B to bolster client services with AI technology
CliftonLarsonAllen LLP (CLA), the eighth-largest accounting firm in the United States, has significantly expanded its technological capabilities with the acquisition of Engine B, a pioneering AI-driven technology company based in the UK. This marks CLA’s first global acquisition, emphasizing its commitment to integrating cutting-edge technology to enhance client services and optimize operational efficiency.
Strategic Global Expansion
The acquisition of Engine B aligns with CLA’s strategic $500 million investment in digital technology and artificial intelligence, aimed at transforming the accounting profession. Engine B, renowned for its innovative use of generative AI and Large Language Models, offers tools that enhance the depth of business and financial insights available to clients. This technology enables CLA professionals to devote more time to client engagement and the pursuit of new business opportunities.
“CLA is investing in the future of our people, of our clients and our profession,” said Jen Leary, CEO of CLA. “With the addition of Engine B, CLA is becoming a force for positively disrupting the profession, creating a path for our professionals to spend more time directly with clients, leaning into our promise to know and help them. Engine B’s generative AI-powered technology aligns closely with our vision of leveraging digital solutions to drive operational excellence and deliver greater value to our clients.”
Engine B’s Impact on CLA
Founded in 2019 by Shamus Rae and Donne Burrows, Engine B has quickly gained recognition for revolutionizing how firms access and standardize client data. The acquisition will integrate Engine B’s team and its advanced AI tools into CLA’s existing systems, enhancing the firm’s capability to harness data for added value to its clients.
“This connection is the right step for Engine B and for CLA,” stated Shamus Rae, founding partner of Engine B. “Our technology will seamlessly integrate into CLA’s existing systems and give us all a head-start in ingesting client information and extracting clear data sets to provide strategic client initiatives. For both firms, this is a strategic step toward growing revenue while further investing in our professionals.”
James Watson, CLA Board Chair, emphasized the strategic importance of staying ahead in technology adoption. “The automation capabilities that Engine B brings to the table will enable us to redirect valuable time toward client engagement while pursuing new business opportunities,” Watson noted.
The acquisition of Engine B by CLA not only marks a significant advancement in the use of AI within the accounting sector but also sets a precedent for how global acquisitions can enhance service delivery and client relationships in professional services.