Tech news: Sikich rolls out AI studio

November 8, 2024 8:57 AM

Sikich rolls out AI studio; Thomson Reuters integrates AI CoCounsel with tax solutions; Sovos introduces 1099 Professional solution; and other accounting tech updates.

Sikich rolls out AI studio

Sikich lobby in Naperville, Illinois

Photo: Matt Stout

Top 50 firm Sikich has expanded its artificial intelligence capabilities with the launch of its Sikich AI Solutions Studio. Touted as an extension of its data and AI practice, the Sikich AI Solutions Studio provides organizations with a strategic framework for adopting AI. The framework helps clients with setting the course, choosing the right AI tools, upskilling and training, navigating challenges, maintaining human oversight, monitoring progress and achieving goals. It offers a methodology designed to identify AI use cases, assess ROI potential and highlight gaps in talent, technology and data governance. The framework aims to ensure scalable, responsible AI implementation aligned with regulatory standards and organizational values. The team will be delivering customized AI tools and solutions across multiple sectors; and enhanced training programs to help clients develop internal AI expertise and cultivate a culture of innovation. The studio will also develop and implement AI solutions to optimize the firm's own operations and deliver services more efficiently. Sikich also announced the appointment of Ray Beste as principal AI strategist.

Thomson Reuters ONESOURCE corporate tax solutions now has AI CoCounsel

The offices of Thomson Reuters in Stamford, Connecticut

Chris Ware/Bloomberg

Thomson Reuters is launching ONESOURCE with CoCounsel to customers globally. The enhanced solutions combine a new AI Product Support skill with CoCounsel, Thomson Reuters' professional-grade generative AI assistant. The AI Product Support skill offers customers "how to" guidance, delivering assistance on complex compliance tasks by offering access to relevant answers. It utilizes large language models to offer an interface for natural language queries, delivering immediate answers to questions, drawn from Thomson Reuters' proprietary content. First to market is ONESOURCE Indirect Tax with CoCounsel, which covers indirect tax determination, compliance and e-invoicing. This solution is now generally available to customers in North America, Europe, the Middle East and Africa.

Following this launch, CoCounsel capabilities will be incorporated into ONESOURCE Direct Tax solutions in November 2024, with further tax and trade solutions arriving in early 2025. Expansion to regions including Australia is planned for next year.

Tax compliance solutions provider Sovos launched 1099 Professional, a solution designed to simplify tax information reporting for small and medium-size businesses. 1099 Professional is designed for businesses with hundreds up to several thousand forms. The software offers capabilities including IRS e-file, print and mail services, 1099-NEC direct-state reporting and Form 1042 Modernized e-file reporting. 1099 Professional offers flexible plans based on form volume and can be purchased with a credit card, providing immediate access to the software.

IT Alliance announces new members

The Information Technology Alliance, an independent membership association of leading mid-market technology professionals, consultants and product/service providers in North America, announced its new member firms during this week's ITA Fall Collaborative in Indian Wells, California. The new members include ERP solutions provider Stellar One; Top 50 firm Frank, Rimerman + Co.; Top 25 firm Carr, Riggs and Ingram, which has expanded its membership with the ITA to include the CAS track; Top 25 firm Cherry Bekaert Advisory LLC; Top 100 firm Hogan Taylor; Equify Advisors, a NetSuite Alliance Partner specializing in centralizing, optimizing and automating key business processes; and Keystone Business Services, a NetSuite ERP partner for industries including manufacturing, technology, services, wholesale, e-tail, and food and beverage. ITA members will next convene at the 2025 Spring Collaborative, April 27-29 in Memphis, Tennessee.

Bloomberg Tax & Accounting announces 2024 Author Awards for International Tax

Bloomberg Tax and Accounting announced the winners of its 2024 Author Awards for International Tax. Gary Sprague, this year's recipient of the Leonard L. Silverstein Award, is a partner with Baker McKenzie based in Palo Alto and an author for the Bloomberg Tax Portfolio Federal Taxation of Software and Digital Transactions. Irene Yong and Anand Raj — partners with Shearn Delamore & Co. — were recognized as International Tax Portfolio Authors of the Year for their work on the Business Operations in Malaysia Portfolio. Arthur Kristoffersen — head of section, transfer pricing, large business in the Norwegian Tax Administration — received the International Tax Portfolio Author of the Year award for his contributions to the Transfer Pricing Rules and Practice in Norway Portfolio, including extensive details on transfer pricing rules, practice and procedural matters in Norway. Wim Panis — a partner in the Brussels office of Stibbe, a member of the editorial board of the tax journal Tijdschrift voor Fiscaal Recht — was recognized as the International Tax Contributor of the Year Award for his years of dedication to updating and enhancing the Belgium chapter of the VAT Navigator.