The next chapter for Cradle Accounting: now part of Prophix

Prophix is proud to announce the acquisition of Cradle Accounting! This is a monumental step in delivering on our vision: a unified, extensible platform that covers every finance job—seamlessly from record to report. By adding Cradle, we have solidified and strengthened the financial close process, ensuring your finance team has a unified, seamless, and completely reliable way to manage complex requirements, like lease accounting, as part of your core financial strategy.  

Confidence in every number, guaranteed.

Cradle brings deep expertise in global lease accounting standards — including IFRS 16, FRS 102, ASC 842, GASB 87, GASB 96, and AASB 16 — with a solution built for accuracy, audit readiness, and ease of use. By standardizing and automating lease financial reporting across these frameworks, Cradle helps organizations reduce manual effort and risk while ensuring consistent, audit-ready compliance worldwide. By integrating Cradle into Prophix One, we’re broadening what finance teams can manage within a single financial performance platform and creating a more complete experience across the full finance lifecycle.

Together, with a shared focus on clarity, compliance, and confident decision-making, we’re excited for what this next chapter brings to our customers. 

Explore Lease Accounting and start your free trial. 

Who is Cradle Accounting?  

Founded in 2019 and based in Toronto, Cradle Accounting is a lease accounting solution built to help teams manage compliance from initial recognition through ongoing measurement and disclosures.

Cradle serves nearly 250 organizations across more than 40 countries, with strong adoption in lease-heavy sectors such as retail, hospitality, logistics, manufacturing, real estate, transportation, and healthcare.

Built for controllers and accounting leaders, Cradle offers multi-entity and multi-currency capabilities, API-based integrations with systems like NetSuite and Xero, and an intuitive experience designed for fast onboarding.

Its global footprint and product design make Cradle a strong fit for the evolving needs of the Office of the CFO. 

Why did Prophix acquire Cradle?

For many organizations — particularly those in lease-heavy industries such as retail, real estate, manufacturing, and logistics — lease accounting plays a significant role in the close process. Yet many teams still manage it through spreadsheets or standalone tools, creating unnecessary risk, inconsistent reporting, and added pressure during month-end and year-end.

Cradle changes that. It gives finance and accounting teams a structured way to handle lease calculations, disclosures, and reporting with clarity and control. Over the past year, we’ve seen how effective Cradle is for Prophix customers, especially those managing multi-entity environments or completing consolidations where lease activity plays a central role. 

What this means for Prophix customers

With Cradle now part of Prophix, customers can extend their Prophix One experience with new lease accounting capabilities designed to bring greater structure, accuracy, and confidence to financial reporting.

Through Cradle, organizations can benefit from:

• A structured, system-driven approach to lease accounting within the same environment they use for planning, consolidation, reporting, and reconciliation
• Greater confidence in the accuracy of lease-related calculations and disclosures
• A clearer audit trail that supports internal and external review
• A more unified experience across multi-entity close cycles
• Reduced compliance and reporting risk through an integrated, system-driven approach to lease accounting 

How does Prophix’s acquisition impact Cradle customers?

Cradle customers will continue using the product as they do today. There is no impact to your current experience, workflows, or reporting.

As part of Prophix, customers will also gain access to:

• A larger team dedicated to innovation. Cradle’s product and engineering teams are now part of a global organization focused on helping finance teams work smarter. That means deeper expertise, more resources, and faster product evolution.
• Prophix One™, the Autonomous Finance Platform. By integrating with Prophix One, Cradle customers can connect lease accounting with planning, reporting, consolidation, and reconciliation — creating more intelligent and connected financial operations.
• Continued investment in Cradle’s capabilities. We’re committed to enhancing Cradle’s compliance coverage, integrations, and automation features while ensuring the product you rely on keeps getting better.
• A stronger foundation for future innovation. As we bring Cradle into Prophix One, customers can expect expanded functionality, deeper automation, and even more ways to turn financial data into insight and action.

Any administrative updates, such as billing or support channels, will be communicated directly with clear guidance before changes take effect.

Our priority is to ensure continuity and support while we bring the two solutions closer together. 

How will Prophix and Cradle work together?

Prophix and Cradle are coming together as one company to expand what finance and accounting teams can manage on a single platform. Cradle will continue to operate while we align our technology and go-to-market efforts.

Our goal is to bring lease accounting natively into Prophix One, automating and connecting it with the broader planning, consolidation, and reporting process. By combining Cradle’s lease expertise with Prophix’s financial close and consolidation capabilities, we’re creating a more unified environment, one that helps teams work with greater consistency and control. 

What does the future have in store for Prophix and Cradle?

As we look ahead, our commitment remains the same: helping finance teams do their best work. With Cradle now part of Prophix, we’re building a stronger, more complete financial close experience. One that brings lease accounting, consolidation, reporting, and close into a single, connected platform.

We’re pleased to welcome Cradle, its team, and its customers to Prophix. This marks an exciting next chapter, and we look forward to shaping the future of the financial close together.