Corefino Intro`s Outsourced Accounting Solution for Strategic CFO`s

Replaces On-Premise Staff/Tech Headaches with SaaS-Based People-Place-Platform
Model;

Industry Analysts Say, "Now THIS is What `Creative Accounting` Legitimately
Means!"
SUNNYVALE, Calif.--(Business Wire)--
Corefino, the Future of 21st Century Accounting, announced today a three part
people-place-platform solution for strategic Chief Financial Officers (CFOs),
that completely outsources the routine accounting function for mid-market
organizations. Offering a unique combination of software-as-a-service (SaaS),
business process outsourcing (BPO) and a custom-built technology portal,
Corefino executives say they are the first to completely insulate organizations
from a myriad of on-premise technology, staffing and changing accounting
requirement headaches that restrict organizational success. The solution,
available immediately, is already operating successfully at more than two dozen
organizations.

Corefino`s custom-built Triple-C Platform, which includes more than 500 business
processes, workflow and quality assurance checks and reviews, completely
outsources the audit-ready financials function with a Best Practices outsourced
approach similar to the heavily-adopted outsourced payroll solutions now in
general practice. Operating as a value-added-reseller of proven SaaS accounting
software solutions, and deploying its own custom accounting team in a scalable
and modular approach, Corefino is 100% focused on supporting the new breed of
strategic CFO`s.

"For hundreds of years, the business of accounting for money in and money out
has been on the same on-site framework," explains Corefino CEO Karen Northup,
who previously has held several corporate positions as CFO. "We all have heard
the jokes about green eye-shaded accountants who labor heavily over routine
numbers - and, for the last 30 years, expensive and painful to run ERP
deployments that are costing mid-sized organizations millions of dollars. There
have been piecemeal approaches to resolve these accounting pains, and yet, since
no one thought to take a completely outsourced people-place-platform approach to
something that is complex, yet very routine. Corefino is aimed at a large and
growing segment of `strategic CFO`s` who have two agendas: 1) to help their
companies substantially cut a large, recurring expense that adds NO value by
being on premise; and 2) CFOs/Controllers who believe they offer unique
strategic management and Boardroom value by replacing the time they spend on
staffing and technology issues with meaningful financial analysis and inputs."

Technology industry analysts, who have of late reported growing numbers of
companies abandoning on-site technology models in favor of SaaS deployments, say
that the time has come for rethinking the automatic default to building staffs
and technology budgets. "Corefino`s message as `The Triple Play for Accounting
Solutions` resonates with those CFO`s who have bigger fish to fry than routine
accounting," reports PWR in the "PWR Executive Series Report." "The more
delectable part of the financial leadership experience: interpreting the
financial data, creating strategies and visions for its usefulness…and having
the TIME to do it adequately, will make Corefino a strategic accelerator for
CFO`s. This is a very bad thing for the ERP on-premise old guard. Once financial
leaders taste this newfound technology freedom and quit the green eyeshade crowd
babysitting - why would they ever go back to multi-million-dollar
deployment/upgrade headaches?"

Brian Sommer of Vital Analysis, a market research organization specializing in
strategic technology guidance, offers that a re-think to the accounting-as-usual
model is long overdue and in need of creative shake-up. "Controllers have needed
something creative for a long time. Instead of focusing 100% of their energies
on the business, they spend way too much time on managing people within their
department, their ERP vendors, the systems integrators who patch and install
these systems, etc. Controllers and CFO`s need something different - they need
to outsource their accounting transaction processing, most of their accounting
staff and all of the technology headaches that come with their old-school
accounting solutions."

Accounting for the 21st Century; Targeting Mid-sized Organizations

ADP, Saleforce.com and other off-premise solution models have offered a fresh
approach to routine business practices and have been benchmarked as savings huge
sums over predecessor models. Corefino customers are reporting an average annual
savings of as much as 40% off of traditional accounting solution models.
Corefino (which is a euphemism for "Core Financials Outsourced") offers its
people-place-platform solution on a monthly subscription-based model tied to
processes deployed and company headcount metrics. As new SaaS accounting vendor
solutions are introduced, Corefino assesses and partners with those that are the
best match for its clients, adds Corefino remote staffing capability and
delivers its third deliverable: the Triple-C Platform. This custom-built
Corefino technology platform leverages the company`s deep financials industry
expertise to:

* Connect companies 24/7 to a Web Portal for viewing their financials
* Correct information/data flows to accurately stream into accounting programs
that ensure accuracy
* Comply with all current accounting, regulatory and other accounting-related
mandates that impact audit-ready representation of financials for
streamlined/complete monthly, quarterly, annual closes; pre-IPO or merger
activities; Board/venture capital-backed assessments, etc.

Corefino`s `Triple Play` solution is aimed at strategic CFOs and Controllers in
all mid-sized organizations, with a Best Practices/Workflow framework to handle:
comprehensive GAAP-based Accounting, Expense Accounting, Revenue Accounting,
pre-Due Diligence/Audit/Tax Preparation, Reporting, Internal Controls, Finance
Services, Balance Sheet Accounting and Cash Accounting. Corefino guarantees that
clients will always be ready to address any financial or business event with the
full spectrum of the company`s audit-ready financial services.

The company segments its solutions into these categories:

* Accounting for Mid-Market organizations
* Accounting for Health Services
* Accounting for Alternative Energy & Clean Technology
* Accounting for Electronic Gaming & Digital Home Services
* Accounting for Municipalities & Non-Profits
* Accounting for Regional Corporate Offices

Corefino Customers Endorse Value Proposition

Corefino`s first round of customer deployments are reporting high levels of
satisfaction and support for the company`s revolutionary approach to saving
time, resources and business efficiencies.

"Instead of our management team getting bogged down by tedious, repetitive
accounting tasks, we`re applying our business and financial acumen to deal
making and profit taking," said Leon Hounshell, CEO of 4Home, a digital home
services company. "Corefino gives us critical business time to get strategic
tasks done that grow our business."

About Corefino

Corefino is the `Future of 21st Century Accounting` -- a completely outsourced
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 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 Sunnyvale, CA. For more
information on the company, please see www.corefino.com.

Corefino, Inc.
Ethan Parker, 650-267-2977
Marketing Manager
ethan.parker@corefino.com

Copyright Business Wire 2009