Draft:Crunchafi


Crunchafi Crunchafi is an American software company that develops financial technology products for accounting and finance professionals. The company provides purpose-built tools designed to automate complex accounting tasks, reduce manual processes, and improve compliance with financial reporting standards. Its main areas of focus include lease accounting and financial data extraction.

Originally founded as LeaseCrunch in 2016, the company rebranded as Crunchafi in 2025. Headquartered in Milwaukee, Wisconsin, Crunchafi’s software is used by more than 750 certified public accounting (CPA) firms and over 27,000 companies. Its products are primarily tailored for CPA firms, including audit, client advisory services (CAS), and financial due diligence (FDD) teams, but are also used by corporations, government entities, and fractional chief financial officers (CFOs).

HISTORY

LeaseCrunch was founded in 2016 in Milwaukee, Wisconsin. The company was established to simplify the transition to new lease accounting standards, particularly in response to updated requirements issued by the Financial Accounting Standards Board (FASB), the Governmental Accounting Standards Board (GASB), and the International Accounting Standards Board (IASB). Its initial focus was on providing lease accounting software that was easy to use and designed for CPA firms to help their clients maintain compliance.

In November 2024, LeaseCrunch expanded its product suite through the acquisition of Finagraph, a financial technology company. The deal added Strongbox, a financial data extraction tool. This addition reflected the company’s strategy of addressing the broader needs of CPA firms by automating data-intensive processes and providing actionable financial insights.

In 2025, LeaseCrunch announced its rebrand as Crunchafi. According to the company, the new name signaled a broader commitment to purpose-built financial technology solutions that automate complex accounting tasks and reduce workflow friction. The brand name combines the concept of “crunching numbers” with “accounting and financial intelligence,” represented in the suffix afi. Company leaders described the rebrand as a reflection of Crunchafi’s mission to streamline accounting processes, deepen client relationships, and provide tools that help CPA firms expand their impact.

Products and Services

Lease Accounting Crunchafi’s Lease Accounting software is designed to simplify compliance with multiple accounting standards, including ASC 842, GASB 87, GASB 94, GASB 96, and IFRS 16. The platform includes dual-access functionality for CPA firms and their clients, allowing for collaborative work. Key features include audit-ready reports such as journal entries, amortization schedules, and footnote disclosures, along with live and on-demand training resources. The software also provides annual Service Organization Control (SOC) reports to support security and compliance requirements. The tool is used by CPA firms in audit and assurance, client advisory services, and transaction advisory services for financial due diligence, as well as by corporations, government entities, and fractional CFOs.

Financial Data Extraction The company’s data extraction software, originally called Strongbox, connects directly to client accounting systems and enterprise resource planning (ERP) platforms, including QuickBooks Desktop, QuickBooks Online, Oracle NetSuite, Xero, Sage Intacct, MYOB, and Microsoft Dynamics 365 Business Central (beta). The system extracts financial statements, trial balances, AR/AP transactions, chart of accounts, and general ledger entries, while excluding sensitive personal data unless entered manually into ledger notes. The software standardizes and validates extracted data, enabling auditors and advisors to conduct deeper financial analysis more efficiently. Common use cases include audit preparation, client advisory services, and financial due diligence.

Technology and Security Crunchafi operates as a cloud-based software-as-a-service (SaaS) platform. The Lease Accounting software regularly completes SOC 1 Type II and SOC 2 Type II reports. They offer Single Sign-On, role-based access, and comprehensive access and change audit trails for enhanced visibility, security, and accountability.

The system uses a secure, temporary, read-only connection to client or target ERP systems. Data is only accessible to the requesting accounting firm and is protected by encryption alongside other industry-standard security measures. The Data Extraction software is certified as SOC 2 Type II compliant and adheres to the General Data Protection Regulation (GDPR).

Crunchafi employs encryption for data both in transit and at rest. The platform enforces privacy practices that restrict access to sensitive information, ensuring that client financial data is only accessible in a controlled manner. Personal details are not collected by default unless manually entered into general ledger notes, and role-based access controls further protect data integrity.

Audience and Use Cases Crunchafi’s software is used by a range of accounting and finance professionals, including CPA firms, corporate finance teams, government entities, and fractional CFOs.

CPA Firms CPA firms use Crunchafi across multiple service lines. Audit teams employ the lease accounting and data extraction products to generate audit-ready reports and complete engagements more efficiently. CAS teams use all three tools to analyze business performance and support client decision-making. FDD and mergers and acquisitions (M&A) teams primarily use the data extraction product to obtain standardized financial data and export it directly into spreadsheets for analysis.

Corporate Finance Teams Corporate controllers and finance departments use Crunchafi to comply with accounting standards such as ASC 842, automate manual processes, and meet strict reporting deadlines. The platform also assists with managing large volumes of lease data and fulfilling cross-departmental data requests.

Government Entities Government finance teams use Crunchafi’s lease accounting software to comply with GASB 87 and GASB 96. The platform automates lease and subscription-based IT arrangement (SBITA) calculations, standardizes reporting, and generates required disclosures, reducing the administrative burden of evolving governmental accounting standards.

Fractional CFOs Fractional CFOs use Crunchafi to streamline financial workflows across multiple clients. The platform consolidates data, automates reporting, and supports compliance with accounting standards without requiring specialized lease accounting expertise. In addition, it standardized data extraction, allowing fractional CFOs to provide strategic insights and advisory services more efficiently.

Partnerships and Integrations Supported Accounting and ERP Systems Crunchafi products integrate with several accounting and ERP platforms through read-only connections. Supported systems include QuickBooks Desktop, QuickBooks Online, Oracle NetSuite, Xero, Sage Intacct, MYOB, and Microsoft Dynamics 365 Business Central (beta). These integrations allow data to be securely retrieved, standardized, and used for reporting and analysis without altering the source system.

Firm Collaborations and Dual-Access Functionality Crunchafi’s dual-access functionality enables CPA firms and their clients to collaborate within the same secure environment. Both parties can share access, enter lease data, review reports, and align in real time, with role-based permissions. This feature is available in the lease accounting software.

The company also maintains affiliations with a number of accounting firm alliances and networks, including:

  • AGN International
  • Allinial Global
  • Aprio Firm Alliance
  • BDO Alliance USA
  • BKR International
  • CPAmerica
  • LEA Global
  • Moore North America
  • PKF International
  • PrimeGlobal

Wolters Kluwer Partnership Crunchafi’s data extraction software is integrated with several Wolters Kluwer products used in auditing, including CCH ProSystem fx Engagement, CCH Axcess Engagement, and TeamMate Analytics. The integration allows data to be extracted directly from client accounting systems and formatted for upload to Wolters Kluwer platforms. Once uploaded, TeamMate Analytics can run tests across entire datasets, enabling more comprehensive audit procedures than traditional sampling.

The partnership is designed to streamline audit workflows for CPA firms by eliminating manual data entry, reducing formatting errors, and providing standardized data tables for analysis. According to Wolters Kluwer and Crunchafi, these integrations reduce the reporting burden on clients while improving efficiency and consistency for auditors.

Recognition and Adoption As of 2025, Crunchafi’s software is used by more than 750 CPA firms and over 27,000 companies. Its client base includes regional and national firms such as Cherry Bekaert and PKF O’Connor Davies.

Crunchafi and its predecessor, LeaseCrunch, have received multiple awards and industry recognitions. In the Fall of 2025, Crunchafi was recognized by G2 with several awards, including[1]:

Easiest to Do Business With (Small Business) Momentum Leader High Performer Best Meets Requirements (Mid-Market)

The company was also named to G2’s list of the Top 100 Best Fastest Growing Software Companies.[2]

Earlier accolades include being named one of the Best Lease Accounting Software by Digital.com in 2021[3] and Top Accounting Product by Accounting Today in 2019.[4] LeaseCrunch was selected for the Best of Milwaukee award in the Accounting Software Company category by the Milwaukee Award Program in 2022[5], and in 2023, was named one of Milwaukee’s best places to work by the Milwaukee Business Journal.[6] See Also

References

Crunchafi. (2025, January). We’re kicking off the new year with some brand-new G2 badges! [LinkedIn post]. LinkedIn. https://www.linkedin.com/posts/leasecrunch_leasecrunch-g2-winter-reports-activity-7283234359078240256-M38q/

G2. (2025). Best fastest growing software companies. G2. https://www.g2.com/best-software-companies/fastest-growing

Digital.com. (2021, January 3). Digital.com names best lease accounting software of 2021. PRWeb. https://www.prweb.com/releases/Digital_com_Names_Best_Lease_Accounting_Software_of_2021/prweb17638979.htm

Hood, D., Lee, D., & Arrowsmith, R. (2019, February 5). The 2019 top new products for accountants. Accounting Today. https://www.accountingtoday.com/list/the-2019-top-new-products-for-accountants

LeaseCrunch. (2022, December 16). LeaseCrunch receives 2022 Best of Milwaukee Award. Crunchafi. https://www.crunchafi.com/newsroom/2022-best-of-milwaukee-award

LeaseCrunch. (2023, July 10). LeaseCrunch named on 2023 Best Places to Work list. Crunchafi. https://www.crunchafi.com/newsroom/named-best-place-to-work-2023

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