The Sage Group has announced plans to buy Lockstep, a provider of automated accounting workflows technology.

Sage, which develops accounting, financial, HR, and payroll technology for SMEs, said that the move would accelerate its strategy for growth by broadening its value proposition and expanding Sage’s digital network.

Seattle-headquartered Lockstep develops products and services designed to streamline accounting processes. Its solutions include applications to automate accounts receivable and accounts payable workflows, while its API platform expands the ecosystem by enabling third parties to develop connected services.

“The acquisition of Lockstep represents an important milestone in our growth strategy,” said Aaron Harris, chief technology officer, Sage. “Its complementary portfolio of products, resources, and know-how accelerates our ambition to be the trusted network for SMBs.

“Working together we will continue to knock down the barriers that limit CFOs and accounting teams by streamlining their workflows, improving productivity and efficiency, and enabling them to focus on more valuable, human work.”

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