Tech news: Trullion offers AI-powered cloud audit suite

Tech news: Trullion offers AI-powered audit suite

Published September 20, 2024 10:44 AM

Updated September 20, 2024 11:32 AM

1 Min Read

Trullion offers AI-powered cloud audit suite; april tax solution now covers all 50 states; Workday announces new initiatives, investments and a wellness solution; and other accounting technology news.

Trullion offers AI-powered cloud audit suite

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Accounting and audit software provider Trullion launched its AI-powered Trullion Audit Suite, a cloud-based solution that enables audit teams to work within a shared ecosystem that integrates AI-powered automation in order to reduce errors and facilitate collaboration. The solution reduces the time spent on manual data entry and document review, allowing audit teams to focus on higher-value tasks such as strategic analysis and decision-making. Auditors and practitioners can collaborate across engagements by sharing and saving templates, creating user groups with customized access to client data, and tagging colleagues in real-time. Other modules include AI-driven matching procedures that automate vouching and tracing efforts, streamlining the test of details process among other use cases such as transaction vouching, accounts payable matching, inventory reconciliation and internal audits; automated review processes to ensure consistency across financial documents and against prior year reports; the ability to extract and convert data from various formats into Excel-ready files, allowing not just text and tables but also templates to extract custom fields from multiple heterogeneous documents; and the ability to engage in targeted Q&A or dialogue with the generative AI chatbot "Trulli" to obtain insights and conduct research.

april tax solution now covers all 50 states

Tax platform april has completed coding for all 50 states, a feat it accomplished through a collaborative AI process. April's user experience combines state and federal tax questions into a single flow. The smart routing system is designed to present the least number of questions possible to help a taxpayer accurately file their return. With coding in all 50 states now complete, april's solution can be applied to any state in the country. With its now-national coverage, april can expand its partnerships with fintech, finserv, SMB platform and payroll companies by adding tax use cases, such as support for itemization, which will also be available for the upcoming filing season. April trained a set of large language models to read tax analysis documents and translate that into software code, which is then reviewed by human engineers.

Workday announces new initiatives, investments and a wellness solution

Finance and accounting solutions provider Workday made a number of announcements at its recent conference. One was the launch of Workday Wellness, an AI-powered solution that will provide companies with a real-time view into which benefits and wellness offerings their employees want and use as well as access to AI-driven recommendations on how to improve their benefits program so they can deliver a more personalized wellness experience for their employees. It does this via a real-time data exchange between employers and wellness partners to help companies access and view this data in real-time. Workday Wellness will be available to Workday HCM early adopter customers in early 2025. Workday also announced 12 new Industry Accelerators to help customers modernize their HR and finance operations. Accelerators include Banking from CrossVue; Banking from Deloitte; Canadian Healthcare Provider from Deloitte; Healthcare Payors from Deloitte; Healthcare Provider from Mercer; Healthcare Provider from PwC; Higher Education from Deloitte; Professional Services from Invisors; Retail and Hospitality from Accenture; Retail and Hospitality from KPMG; Technology and Media from Deloitte; and Technology and Media from Kainos. The newly launched Industry Accelerators come on the heels of continued expansion of the Workday partner ecosystem and the Workday platform. Finally, Workday announced that its Workday Ventures has made 10 new AI investments since the beginning of 2023 as part of its focus on AI innovations that help organizations move forever forward. These include Censia, a talent intelligence platform; Glean, a work AI platform connected to company data; Nayya, a benefits intelligence platform; Sana, an AI company transforming how organizations share and access knowledge; TechWolf, an AI-based skills infrastructure company; Uplimit, an AI-driven online learning platform; Benepass, a flexible benefits platform; Oro Labs, a procurement orchestration, intake management and supplier-onboarding platform; Tesorio, an AI-powered connected finance operations system; and Vanta, a trust management platform.

MyWorkpapers announces virtual assistant AMY, new payroll content

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Cloud-based workpapers software provider MyWorkpapers launched an AI assistant, AMY, available 24/7 to support MyWorkpapers users worldwide. AMY is designed to generate accurate responses to common questions with MyWorkpapers' platform using the latest large language model technology. AMY will give responses to clients who have questions on how to use features and functionality in MyWorkpapers, as well as generic questions regarding the accounting industry. MyWorkpapers is currently launching AMY for its existing users and is inviting them to meet AMY by logging in to MyWorkpapers and saying hello. MyWorkpapers intends to expand AMY's functionality in the future. MyWorkpapers also announced the release of payroll content to its cloud-first platform. This latest update provides a standardized set of content that has been designed to simplify payroll processes for accounting firms and payroll departments. The platform now offers built-in guidance, real-time updates and workflows, enabling accountants to manage their payroll process in the cloud. Real-time collaboration has also been improved, allowing teams to work together and reduce the administrative burden on leaders within firms.

Other news

Service-based business platform Certinia announced that it is one of the first organizations to join Salesforce's Agentforce Partner Network, dedicated to extending the value of the new Agentforce suite of autonomous AI agents for customers. Salesforce's Agentforce platform deploys autonomous AI agents alongside employees, moving beyond traditional copilots and chatbots to deliver autonomous reasoning and decision-making capabilities. Partnering with Salesforce means that Certinia's customers will be among the first to benefit from the productivity boost that Agentforce promises. … Big Four firm Deloitte has implemented GreenLight powered by Salesforce — a solution that combines Salesforce Net Zero Cloud with Deloitte's proprietary technology — in more than 120 countries to help meet its sustainability goals. GreenLight powered by Salesforce, which is part of GreenLight Solution by Deloitte, enables businesses to manage their environmental, social and governance performance and reporting by providing capabilities to support key requirements across the data collection and reporting lifecycle. … Spend management solutions provider Emburse announced that Emburse Chrome River will become Emburse Enterprise, and Emburse Certify will become Emburse Professional. The name change came as a result of wanting to bring all their solutions together under a single brand, Emburse. There has been no change in the functionality of these products, merely their names. In addition, the Emburse Travel suite (formerly TRIPBAM) now includes Emburse Book, Emburse Reshop, Emburse Travel Benchmark, Emburse Audit and Emburse Travel Source... Lease accounting software provider LeaseCrunch announced a webinar on GASB 87 and GASB 96, "From Basic Principles to Advanced Practices," that will take place on September 26 at 1:00 p.m. CDT. The webinar will feature Jess Vento, senior director of solution engineering, education and support at LeaseCrunch, as she explores lease recognition, measurement and disclosure under GASB 87, subscription-based IT Arrangements (SBITAs) in GASB 96 and how to handle lease modifications for real-world compliance. Registration is currently open for this webinar.