About Internet Accounting and Online Accounting from Corefino

Corefino demonstrates that there are still possibilities for innovation in staid business services, like accounting. Corefino’s combination of technology and efficient business practices make them a great choice for a newly funded company that understands the value of an effective accounting solution.

-Susan Lucas-Conwell, Executive Director, SDforum

Corefino Cloud-Based Accounting Solution Delivers 50% ROI to Roost

Real Estate Search Engine Company CFO Slashes Expenses, Identifies New Opportunities Via Corefino’s 3-Part People-Place-Platform Alternative to On-Premise Financial Software

BURLINGAME, Calif. – Corefino, Core Financials Outsourced for the SaaS-Savvy, Strategic CFO, announced today that its customer, Roost, a leading residential real estate search engine company, claims it is saving 50% off the costs it would take to deploy the traditional on-site accounting solution model. By adopting Corefino’s new three-part, cloud-based online accounting solution, Roost has outsourced its recurring financial business process and reports (much the same way that ADP does with the payroll process). Companies using Corefino typically report savings of 25-40% and often much higher through its subscription based accounting solution model.

Corefino is rapidly gaining acclaim from both customers and industry analysts since its formal launch into the mid-market financials solution set in May 2009. Since then, it has been written about by nearly every major analyst firm covering the enterprise technology solutions space as a potential cost-saving alternative to on-premise financial software and staffs. Corefino offers a bundled people-place-platform approach replacing the traditional enterprise resource planning (ERP) implementations with an internet-based Software-as-Service (SaaS) solution backed by accounting staffs and its ‘Triple-C’ platform of more than 500+ business processes.

Chief Financial Officers using Corefino are claiming significant gains in their personal ability to perform strategic activities that promote top and bottom-line improvement, by outsourcing the tactical recurring financial reporting and reconciliation process to Corefino. Roost CFO David Hehman affirms the 50% savings over the traditional on-site accounting model, but adds that improved financial data access/accuracy via the Corefino internet accounting platform has resulted in additional savings. Hehman reports that this improved data transparency led him to identify changing business costs that resulted in savings of 20% on data access charges, and at least a 10% improvement on the company’s monthly capital “burn” rate.

“One of the beauties of Corefino is that our financial data is always accessible and reports are done accurately on time,” Hehman says. “By seeing operational trending data sooner, rather than a few months later, we quickly renegotiated our data access charges and directly improved profitability. Corefino has enabled me to continually shift my time and attention away from technology and people management concerns to instead focus on strategic activities that improve our business model, data access capabilities and keep prices as low as possible for consumers accessing our real estate inventory and solution set.”

About Roost

Founded in San Francisco in 2007, Roost is the premier real estate search engine. To support its mission of making it simple for home buyers to find the house of their dreams, Roost is dedicated to providing the most comprehensive, accurate real estate resource on the Web. By partnering with local Multiple Listing Services (MLS), real estate brokers, builders, and via a strategic relationship with iHomefinder, Inc. (an industry leader in real estate data services and MLS compliance), Roost helps ensure home buyers access to current homes for sale and foreclosure information in more than 40 major metro areas across the US. For example, some of the top homes for sale and foreclosure searches at Roost include Boston Homes for Sale, Denver Homes for Sale, Orlando Foreclosures, Philadelphia Homes for Sale, Phoenix Foreclosures, San Francisco Homes for Sale and Washington D.C. Foreclosures.

About Corefino

Corefino, ‘Core Financials Outsourced for the SaaS-Savvy, Strategic CFO’ — is a completely outsourced accounting on demand solution for replacing the aging on-premise approach to performing routine financials. Corefino offers a turnkey people/place/platform combination of outsourced accounting experts, outsourced technology and its Triple-C (Connect-Correct-Comply) Best Practices/ workflow framework. By removing the on-site technology and headcount headaches from mid-market CFO’s and Controllers, Corefino helps them to become ‘strategic accelerators’ capable of more meaningful business impact.

Corefino operates on a variety of Software-as-a-Service (SaaS)-based platforms via monthly subscriptions, and has formed strategic partnerships including ADP, EASi and Intaact. Corefino has vertical market expertise in digital home services, electronic gaming, health services, municipal government, regional corporate offices, alternate energy and clean technology focused companies. Corefino’s accounting on demand services include reconciliation, GAAP-based financials, plus others that facilitate monthly/quarterly/annual closes, IPO and merger preparation, etc. The company was founded in 2004, the Triple-C platform was completed in 2006, and the company received capitalization in 2008 to challenge the mid-market ERP leaders. Corefino, recognized as a candidate for InformationWeek’s 2009 ‘Top 50’ Start-Ups, is based in Burlingame, CA. For more information on the company, please see www.corefino.com.

Media Contact:

Judith Rothrock, Apparancy

(561) 265-5772 judith.rothrock@apparancy.com