Wolters Kluwer partners with Xero to streamline professionals’ working lives
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Wolters Kluwer partners with Xero to streamline professionals’ working lives

Wolters Kluwer Tax & Accounting in North America’s CCH Axcess Financial Prep (AFP) is a software solution for grouping accounts and creating tax reports. The tool eliminates a lengthy manual process and, as a result, has become a wildly popular piece of tax preparation software. Now, to extend its appeal and help it become even more indispensable, Wolters Kluwer has decided to work with market-leading accounting app Xero, letting the two systems integrate for better functionality.

Wolters Kluwer’s share price grew by 4% in the first three weeks of the year

graph 22 wolters

Source: Yahoo Finance

Jim McGinnis, executive vice president and general manager of Wolters Kluwer Tax & Accounting North America, Medium and Large Firm segment, said: “With our open integration platform, professionals can use the tools directly within CCH Axcess to easily integrate client account data, allowing them to spend less time completing tax returns and more time advising clients. An integrated relationship between client data and our tax preparation software means we can deliver automation tools such as predictive intelligence to drive the professional’s strategic advisory services.”

According to the two companies’ press release, news of this integration is “generating excitement” from professionals. It quotes Donna Bordeaux, a certified public accountant with Calculated Moves, PC, saying: “We are excited about the new integration, in North America, between Wolters Kluwer and Xero. We will no longer have to spend time diagnosing why a return won't balance or if an expense account entry was omitted. Using CCH Financial Prep allows us to standardize the review process and verify that the tax return and the trial balance truly match. We look forward to the coming tax season and the time savings this software will help our firm achieve.”

Disclosure

Dominion holds Wolters Kluwer in its Global Trends Managed Fund.


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