From www.accountingtoday.com: Bench Accounting, once a promising fintech specializing in bookkeeping for small businesses, declared bankruptcy after struggling to implement AI technologies and facing operational challenges.

Despite impressive client growth and over $100 million in venture financing, internal conflicts led to layoffs, cash shortages, and an inability to meet tax season demands.

Following its closure, Employer.com acquired Bench’s assets, promising to honour customer contracts and return to basic operational practices.