CHICAGO, April 8, 2021 /PRNewswire/ -- Sikich announced Thursday that it will acquire the assets of Process Stream, a leader in digital transformation services for regulated industries, including life sciences and insurance. Process Stream specializes in quality management, IT compliance, and insurtech systems implementations and consulting.
"Increased regulation, more exacting customer demands and enhanced competition will force organizations across industries to improve their quality management efforts in the coming years," said Ryan Spohn, CFO and leader of Sikich's business advisory services. "The addition of Process Stream expands our existing technology services and industry expertise and enables us to meet these evolving needs for clients across regulated industries."
Process Stream offers holistic support for organizations' digital transformation roadmaps. The company implements, manages, and optimizes quality and claims systems and their associated processes for innovative global pharmaceutical, biotechnology, medical device, and insurance organizations. The Process Stream team includes system engineers, software developers, quality management and claims systems administrators, and industry subject-matter experts.
"We're thrilled to join Sikich," said Bobby Roy, CEO of Process Stream. "The company's national footprint and extensive technology and consulting talent will strengthen our ability to assist clients along their digital transformation journeys. This move will also enable us to bring our best-in-class services to a wider audience."
Process Stream complements its consulting services with proprietary technology solutions that help organizations achieve their digital transformation goals by managing data migrations and conversions, data archival, and more.
"The acquisition of Process Stream advances our efforts to support businesses with end-to-end technology-enabled professional services," said Sikich CEO Chris Geier. "Process Stream's quality management expertise will complement our existing enterprise resource planning and validation capabilities. Our combined teams will offer clients sophisticated technology implementation support and business consulting rooted in deep industry expertise."
Approximately 60 employees from Process Stream will join Sikich and continue to work from their office in Princeton, New Jersey. The transaction is scheduled to close on April 30.
Sikich LLP is a global company specializing in technology-enabled professional services. With more than 1,000 employees, Sikich draws on a diverse portfolio of technology solutions to deliver transformative digital strategies and ranks as one of the largest CPA firms in the United States. From corporations and not-for-profits to state and local governments, Sikich clients utilize a broad spectrum of services* and products to help them improve performance and achieve long-term, strategic goals.
*Securities offered through Sikich Corporate Finance LLC, member FINRA/SIPC. Investment advisory services offered through Sikich Financial, an SEC Registered Investment Advisor.