Tech News: Wolters Kluwer releases new audit quality solution

Wolters Kluwer releases new audit quality solution

Wolters Kluwer HQ

Wolters Kluwer Tax and Accounting launched TeamMate Document Linker, a new product for accounting firms that auto-links samples to supporting evidence, saving time on every audit. It does this by using optical character recognition technology to extract text from scanned documents, including photographs of crumpled documents, to automatically match and dynamically link the sample or workpaper to the source document. TeamMate Document Linker functions within the Microsoft Excel interface, eliminating the need to switch between tools and windows to verify required data. TeamMate Document Linker seamlessly connects with Wolters Kluwer audit solutions. Auditors can use TeamMate Analytics to identify risky transactions or select a sample set of data and then use TeamMate Document Linker to tie the transactions in question to supporting evidence. Documents can be embedded in the Excel workpaper and then packaged together for upload to CCH ProSystem fx Engagement or CCH Axcess Engagement for review.

FloQast releases new solutions for variance analysis, compliance, learning

The Muse

Workflow automation solutions provider FloQast made several new additions to its cloud-native Accounting Operations Platform. FloQast Variance Analysis is for finance and accounting teams who need to monitor and manage business and budgetary performance through flux and budget variance analysis. Free Public CPE/CPD courses from FloQademy, through FloQast's learning portal, are available for the first time at no cost to everyone, whether or not they're a FloQast customer. The solutions were announced at FloQast's annual user conference, where FloQast also detailed its vision for the future of generative AI and accounting.

LogicGate adds evidence collection feature

Kirill Ivanov/WrightStudio - Fotolia

LogicGate, a governance, risk and compliance solutions provider, released an automated evidence collection feature that gathers, validates and manages data and evidence central to an organization's risk management and compliance initiatives. By employing automated workflows, it assimilates data from diverse sources.

OneStream unveils design innovations

OneStream HQ

Corporate performance management solutions provider OneStream announced several new capabilities at its 2023 Splash Berlin Global User Conference and Partner Summit. Updates include technology modernization with Microsoft .Net 6 to provide faster performance; no-code SAP integration through a previewed SAP connector to provide direct integration with SAP to create, test and validate connections; a large language model solution to unify generative AI with corporate performance management, including providing tech support assistance, platform and design assistance and enhancements to Sensible ML for scenario planning use cases. ESG Blueprint leverages platform capabilities to accelerate the delivery of ESG reporting and planning with pre-built carbon calculations and ESG metric conversions; and new Partner Place solutions.

Partnerships and integrations and M&A

Digital asset finance platform Bitwave acquired Gilded, a crypto payments and reporting platform. The acquisition follows Bitwave's integration of Multisig Media earlier this year. … Crypto accounting platform Ledgible partnered with Thomson Reuters to allow Top 10 Firm Forvis to use specialized crypto tax and accounting software from Ledgible, in partnership with Thomson Reuters, to better serve its clients. … Digital identity solutions provider Trua is integrating its Smart Wallet with the Apple Wallet, providing users an added way to securely share their verified digital identity. … Payment and benefits solutions provider Gusto announced Chase Payment Solutions has selected Gusto to provide payroll services to its business payments customers, enabling Chase Payment Solutions customers to combine payments, banking and payroll with a single sign-in via Chase.com. … Ryan, a global tax services and software provider, acquired the sales and use tax recovery services and audit defense business line from tax compliance solutions provider Avalara. The sales and use tax recovery and audit defense business line primarily serves enterprise businesses and their internal tax teams. The acquisition includes a client roster of Fortune 500 companies. … Tax compliance solutions provider Avalara added new APIs and integrations. Avalara will be the first tax compliance provider available in Salesforce Service Cloud, Salesforce's customer service software solution used by commercial and retail professional services businesses. Avalara also launched AvaTax for Accounts Payable API, which will integrate with Avalara sales and use tax products, packaged software like ERP, POS, ecommerce, billing and CRM systems, and custom applications. Avalara ELR is also now available for Oracle Cloud Fusion ERP. In addition to the new integrations and APIs, Avalara is launching five new API extractors that will improve how source data enters Avalara Returns for Accountants and Avalara Managed Returns for Accountants. The goal is to create a more efficient way for firms to import data into the Returns console. Currently, extractors are used by Avalara customers and accounting partners to streamline the data ingestion process. … The National Association of Tax Professionals is teaming up with secure messaging and filing sharing solutions provider Verifyle to keep tax offices secure for tax season. NATP members receive a discounted monthly subscription rate to Verifyle's services.

Other news

AI-focused bookkeeping and finance solutions provider Truewind announced a $3 million seed funding round led by Fin Capital and Y Combinator, along with Fellows Fund, Scrum Ventures, Beat Ventures, Soma Capital, SV Tech Ventures and Hike Ventures. … Wolters Kluwer announced its No. 2 ranking in the Business & Professional Services Category on Newsweek's World's Most Trustworthy Companies list. … Net at Work Inc., a digital operations platform technology solutions provider for small-to-medium-sized businesses, has received a growth investment from Lovell Minnick Partners LLC, a private equity firm focused on investments in financial services, business services and financial technology companies. The partnership will propel Net at Work's expansion and further enhance its ability to deliver technology solutions to businesses across the globe. Terms of the transaction were not disclosed. … Visual Lease, a lease optimization software provider, announced the company's newest offering, VL ESG Steward, has been recognized by the Business Intelligence Group as a winner of a 2023 Sustainability Award under the category of Sustainability Product of the Year. The recognition comes on the heels of VL being named a Leader in the IDC MarketScape: Worldwide SaaS and Cloud-Enabled Lease Accounting and Administration Applications 2023 Vendor Assessment. … Accounting-focused cloud solutions provider Right Networks has appointed Piyum Samaraweera as chief product officer. Samaraweera will drive the company's product strategy and identify opportunities to serve new markets.