Tax services firm Ryan announced the acquisition of Second Decimal, a tax technology firm with an integrated suite of tax calculation, certificate management and workflow software applications.
The acquisition, which will bring Second Decimal CEO Jayme Fishman on as president of a newly created software division and a member of the firm’s board of directors, will combine the technology firm’s tax software applications with Ryan’s strategic tax advisory and recovery services. The deal, Ryan's second transaction in 2015 following the acquisition of tax automation services firm Taxaccord in January, bolsters Ryan’s proprietary software development capabilities and client portfolio.
In his new role, Fishman will lead a team of tax and technology experts in developing and supporting Ryan’s expanded suite of software applications. With the acquisition, this includes new proprietary software offerings: Pinpoint, a sales and use tax calculation engine and data warehouse application; RatePoint, a single-source tax application for rate lookup and monitoring; FilePoint, a sales and tax compliance system; and ControlPoint, a certificate management system for handling and sharing purchase and/or sales exemption certificates.
“Our software applications were built by tax practitioners for tax practitioners,” Fishman stated. “The products and the professionals who support them are perfectly aligned with Ryan’s business model and will greatly enhance the Firm’s service offerings and value proposition.”
“Second Decimal has proven expertise in developing and enhancing powerful tax and compliance software applications for improving processes and profitability,” stated G. Brint Ryan, Ryan chairman and CEO. “This acquisition will provide Ryan clients access to the most comprehensive, integrated tax technology and advisory offering available in the industry today.”
Financial details of the deal were not disclosed.
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