New capabilities provide deeper integrations and key automation across the cloud-based platform
SYDNEY–(BUSINESS WIRE)–Wolters Kluwer Tax & Accounting (TAA) Asia Pacific (APAC) today announced the strategic release of new capabilities and key integrations for Australian customers of CCH iFirm, its award-winning, cloud-based practice management and compliance software platform. The enhancements, which were co-designed and beta-tested by CCH iFirm customers in Australia, provide a seamless end-to-end workflow enabling firms to complete their compliance work faster.
The release allows accounting firms to save valuable time by leveraging deeper integrations and data automation between CCH iFirm Client Accounting and CCH iFirm Tax that reduce the need for manual data entry or administrative work.
“These enhancements within CCH iFirm allow our customers to focus on the most material aspects of their job. By enabling technology advancements to help reduce manual processes, they will have greater capacity to meet client expectations and help generate sustainable revenue growth which is of key importance to firms in the APAC region,” said Rakesh Naidu, Head of Product, Professional Software, Wolters Kluwer TAA APAC. “Looking ahead, we are planning further enhancements to our customers’ workflow in 2024, including the development of integrated workpapers backed by our unique expertise in both tax software and knowledge solutions.”
A notable enhancement that helps drive efficiency is the introduction of a single-click import of ledger data from CCH iFirm Client Accounting to the tax return in CCH iFirm Tax that can save accountants an estimated 45 minutes per return. Additional time savings year-over-year can also be realized due to the unique data mapping approach that connects key points in each tax return to the chart of accounts. This has the potential to translate into an estimated $49,500* worth of billable hours unlocked simply by leveraging the newly integrated solutions as a CCH iFirm customer.
Further benefits of the most recent software release include improved automation within CCH iFirm Tax that delivers features, such as an option to prefill data from the Australian Tax Office (ATO), to help reduce manual data entry and time spent on non-billable work.
The release provides deeper integration between the compliance and communication modules within CCH iFirm, such as CCH iFirm Client Portal and CCH iFirm Signatures, which now require only a few clicks to get a tax return sent, signed and saved securely. Pairing these new enhancements with the existing integrations of CCH iFirm’s suite of products allows accountants to benefit from the simplicity and ease that comes from using a single cloud-native software platform for all their firm needs.
“Working with our customers in a co-design process has been and will continue to be integral to delivering superior designs and solutions that solve customer needs. We want to thank our customers who have been working with us to develop and refine our innovative solutions,” Naidu added.
CCH iFirm is a multi-award-winning platform of integrated cloud solutions designed specifically for accounting firms. The platform includes modules for practice management, tax preparation, client accounting, document management, and secure exchange with clients as well as digital signatures. Experienced consultants provide a fully supported and tailored onboarding process for the software, with ongoing support available from a local customer support team.
Wolters Kluwer TAA enables tax and accounting professionals and businesses of all sizes to drive productivity, navigate change, and deliver better outcomes.
PLEASE NOTE: These materials are designed to provide accurate and authoritative information in regard to the subject matter covered. The information is provided with the understanding that Wolters Kluwer TAA is not engaged in rendering tax advice or accounting, legal, tax or other professional service.
About Wolters Kluwer
Wolters Kluwer (EURONEXT: WKL) is a global leader in information, software, and services for professionals in healthcare, tax and accounting, financial and corporate compliance, legal and regulatory, and corporate performance and ESG. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with specialized technology and services.
Wolters Kluwer reported 2022 annual revenues of €5.5 billion. The group serves customers in over 180 countries, maintains operations in over 40 countries, and employs approximately 20,900 people worldwide. The company is headquartered in Alphen aan den Rijn, the Netherlands.
*These figures assume 330 returns completed annually at an average rate of $200/hour.
Associate Director, External Communications
Wolters Kluwer Tax & Accounting
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