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July 1, 2021

Eight20 Consulting announces acquisition of GoVirtual CFO

Eight20 Consulting, a leading provider of analytics and consulting services for local governments across the state of Texas and owner of the revenue analytics software ZacTax, today announced the acquisition of GoVirtual CFO, a highly-respected and fast-growing contract finance and accounting consultancy.

GoVirtual CFO provides contract accounting and finance services to local governments, including bank reconciliation, financial reporting, budget development, audit preparation, and more. Led by former auditor and government finance officer Doug Martella, GoVirtual has established itself as an innovator, helping small cities across the state of Texas gain access to cost-efficient professional accounting services.

"GoVirtual CFO has identified a niche that no one else is serving, which is the need for professional financial management among small cities without the cost of a full-time equivalent finance position," said Chad Janicek, Eight20 Consulting CEO. "It's hard for smaller cities to justify the expense associated with a full-time, degreed finance officer, when that person may only spend 40-50% of their time on finance-related work."

"We believe contract financial services are the future for smaller cities," said Eight20 Consulting COO Patrick Lawler. "When you work in a small city, you have to wear so many hats. It's extremely difficult to find a finance professional that can fill that role. That's why GoVirtual has been able to establish itself as a superior alternative to the traditional staffing model."

In addition to contract financial services, the acquisition will provide additional capacity to expand Eight20's growing consulting practice. "We love working with our clients beyond our analytics software, ZacTax," said Chad Janicek, "but our resources to fulfill their needs for additional consulting work have been limited until now."

"Having previously worked with the ZacTax team, I'm excited for this opportunity to build the GoVirtual CFO brand as part of an organization that's so highly respected across the state," said Doug Martella, CEO of GoVirtual CFO.

GoVirtual CFO will become a division of Eight20 Consulting, expanding Eight20's consulting footprint. Eight20 Consulting is a local government consultancy based in the Fort Worth/Dallas area. Since 2014, its flagship analytics software ZacTax has been a leader in the field of revenue analytics for local governments, providing unparalleled innovation for benefit cities, counties, and special districts.

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