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Professional services firm

Grant Thornton (US)

Grant Thornton offers AI-powered finance and accounting outsourcing with Auxis; its licensed CPA firm, Grant Thornton LLP, provides attest services.

1 offering in the directory Last verified

Ownership
Not stated

Not stated in the sources read. New Mountain Capital closed a significant growth investment in Grant Thornton in May 2024, with minority investments by CDPQ and OA Private Capital; the release does not say who holds the majority or which entity received the investment. Grant Thornton LLP is the licensed CPA firm that provides attest services; Grant Thornton Advisors LLC provides tax and business consulting services and is not a licensed CPA firm.

Headquarters
United States
SourceInspection Data for U.S. Global Network Firms
Subprocessor list
Not stated
Contract terms
Not stated

Offering · Managed service

Grant Thornton | Auxis Finance and Accounting Outsourcing & Transformation

Directory recordLast verified Compare with othersBuild questions for this vendor

Grant Thornton says its finance and accounting outsourcing combines professionals certified in United States GAAP and IFRS with AI-powered automation, process excellence and nearshore delivery. SourceOutsourcing services (Grant Thornton + Auxis)

The work runs on Auxis' platform, anchored in Latin America, with partnerships across Microsoft, OpenAI, Oracle and Workday, for enterprises and mid-market companies. SourceOutsourcing services (Grant Thornton + Auxis)

An operate-to-transform model uses guaranteed outsourcing savings to fund AI and automation inside the outsourced operations. SourceHow AI-powered outsourcing helps you operate to transform (article)

Where it fits

Nearshore finance and accounting outsourcing for enterprise and mid-market companies, with automation funded from the savings. SourcesOutsourcing services (Grant Thornton + Auxis)How AI-powered outsourcing helps you operate to transform (article)

CoE analysis The guaranteed-savings mechanics and the two-entity structure are the points to settle.

What it does

Workflow areas
Not stated

The page describes finance and accounting outsourcing across the finance value chain without listing workflows; AR collections for consumer packaged goods companies is named only as one industry model.

Customer size
  • Enterprise
  • Mid-market
SourceOutsourcing services (Grant Thornton + Auxis)

AI

Kind of AI
Not stated

Not classified. Grant Thornton describes AI-powered automation, and AI and automation on Auxis' platform, without naming the technique or saying whether any of it acts in client systems.

Suggests or acts
Not stated
Availability
Not stated

No availability statement.

Models named
Not stated

Control

Who controls it
Professional services firm

Delivered by Grant Thornton and Auxis teams; which Grant Thornton entity contracts is not stated.

SourceOutsourcing services (Grant Thornton + Auxis)

Commercial

Pricing model
Not stated
Public price
Not stated

Evidence

Independent outcomes
None found in the sources read.
Sources read
  • Vendor-stated 3
  • Independent market evidence 7
  • Independently verified outcomes None read
  • Pricing 1
  • Known limitations None read
Coverage
Directory record
Last verified

Delivery and lock-in

Delivery model
Service you rent

Grant Thornton describes finance and accounting outsourcing delivered through Auxis' platform under an operate-to-transform model.

SourcesOutsourcing services (Grant Thornton + Auxis)How AI-powered outsourcing helps you operate to transform (article)
Team qualifications published
Says its finance professionals are certified in U.S. GAAP and IFRS; Auxis cites a team of 200+ accounting professionals and an Accounting Center of Excellence of CPAs and top-performing managers. Leaders listed: Raul Vega (Partner & CEO) and Eric Liebross, Keith Sayewitz, Dan Day and Eduardo Diquez (Partners, Business and Finance Transformation & BPO), Grant Thornton | Auxis.
SourcesOutsourcing services (Grant Thornton + Auxis)Finance and Accounting Outsourcing Services
IP and post-engagement license
Not stated

Not stated in the sources read.

Savings claims (firm-stated)

Stated by the firm, not verified

  • 95% of invoices from 20 of a retail client's largest vendors processed without human intervention ("95% touchless"), and more than 40% greater invoice processing capacity with the same sized staff, at a lower cost per invoice.

    Auxis accounts payable automation case study for one private equity-backed specialty retailer (published June 2024), shown as a teaser on the Auxis F&A outsourcing page. Automation-rate and capacity figures, not a cost saving: the 95% covers 20 vendors only, the cost reduction per invoice has no figure, and baseline and period are not stated.

  • 70% touchless invoice processing, equivalent to freeing up more than 2,500 human hours per month; a 75% increase in invoice volumes absorbed with the same-sized AP team.

    Auxis healthcare AP automation case study for one U.S. healthcare system (published April 2024), shown as a teaser on the Auxis F&A outsourcing page. Automation rate, not a cost saving: the case study says the cost per invoice fell significantly without a figure, and baseline and period are not stated. Auxis says it helped the client set a realistic target for the touchless share and that the target typically falls between 60-80% depending on a client's circumstances.

Grant Thornton says the operate-to-transform model uses guaranteed outsourcing savings to fund AI and automation (C-4253) but gives no savings figure. The two figures recorded are automation rates from two of the Auxis case-study teasers shown on the Auxis F&A outsourcing page (C-5046): single-client results stated by the firm, not cost savings.

SourcesFinance and Accounting Outsourcing ServicesAccounts Payable Automation Case Study for Retailer (case study page)Healthcare AP Automation: 70% Touchless Invoice Processing (case study page)
Alliance partners
  • Microsoft
  • OpenAI
  • Oracle
  • Workday
  • UiPath

Named as partnerships on Grant Thornton's outsourcing page; the UiPath honors are vendor-stated.

SourceOutsourcing services (Grant Thornton + Auxis)

Security and control

Single sign-on
Not covered in this record
User provisioning
Not covered in this record
Role-based access
Not covered in this record
Administrator controls for AI
Not covered in this record
Audit logs
Not covered in this record
Certifications
Not covered in this record
Data retention
Not covered in this record
Data residency
Not covered in this record
Training on customer data
Not covered in this record

AI features

As the vendor or firm describes them. Notes in small print record what the sources leave open.

Not stated

Questions to ask

For this offering

  • If Grant Thornton audits our financial statements, has our audit committee pre-approved this service, and how does Grant Thornton assess it against the SEC non-audit service categories (bookkeeping, financial information systems design and implementation, internal audit outsourcing, management functions) and, for ICFR-related work, PCAOB Rule 3525? Ask our audit committee and counsel to confirm.
  • Which entity would contract for the service, Grant Thornton Advisors LLC or another, and how does that interact with Grant Thornton LLP's audit relationship with us?
  • How are guaranteed savings defined, measured and paid, and how is that structure assessed against the contingent-fee rule where Grant Thornton is the auditor?
  • Which AI and automation would run in our processes, and does any of it post or approve transactions?
  • Where would our data be processed across the Latin American and other delivery centers?

From the diligence question set

  1. DQ-31 Who, by name and role, will design, build, test and run the AI in our finance process, and what AI has each of those people personally put into production?
  2. DQ-32 How does your firm decide that someone is qualified to build or govern AI for financial reporting, and who outside the delivery team reviews model risk before anything goes live?
  3. DQ-33 When the engagement ends, what will we own and be able to run ourselves, and what will work only with your firm? On what terms are your accelerators licensed afterward, and what does it cost to leave a run service?
  4. DQ-34 What will this cost in years two to five, including run fees, platform licenses, AI usage fees and change requests, and how does that compare with the savings case once the internal oversight roles we keep are counted?
  5. DQ-35 Do you receive fees, rebates, resale margins or other incentives from the software you are recommending, and do you, or will you, audit our financial statements?
  6. DQ-36 What results from clients like us can you show that someone other than your firm has verified, and by what method?