CPA Firm Technology

CPA Firm Technology

XCM® Further Increases Configurability in your Workflow by Expanding the Number of Categories

Quincy, Mass. – June 23, 2020XCM®, the leading provider of cloud-based workflow and productivity enablement solutions for tax and accounting professionals, has increased the number of categories within XCMworklfow® enabling businesses and firms to configure the software to work the way they work. Each practice area can create their own workflow processes and uniquely customize the platform to meet the diverse needs across departments or practice areas.

As part of the overall XCM customer experience, the flexibility built into the XCM application with this enhancement, enables businesses to further classify their tasks across 20 categories to access the data, resources, reporting, advanced search and work specific to the practice area or department.

“We are excited to offer an expanded category feature to our XCM customers who use the application across different practice areas (Tax, Audit, CAS) and business departments such as Corporate Tax or Sales & Use Tax,” said XCM Chief Product Officer Jairam Padmanabhan. “In these exceptional times, it’s critical to provide the tools and analytics that help businesses maintain high levels of productivity to scale their businesses by extending workflow automation throughout their practice areas.”

About XCM


XCM offers a complete productivity enablement and workflow platform that empowers you to manage all types of work—within all departments, across multiple offices. 

Our solutions include XCMworkflow®, XCMscheduler®, XCManalytics as a Service®, XCMapi®, and Xpitax® Outsourcing—all designed by tax and accounting professionals and process experts to help you work more efficiently and effectively in a digital environment. 

XCM is an open platform system that works horizontally across tax, accounting, finance, audit, and operations applications. We manage millions of processes per year, enabling professionals to complete more work, in less time, with greater quality. Our device and browser-agnostic cloud solutions offer real-time anywhere, anytime access to work.

Though we integrate with several popular tax and accounting packages, the real payback is through your greatest asset—your people.

For more information, visit xcmsolutions.com

Follow us on LinkedIn, Twitter, and Facebook

MEDIA CONTACT:
Susan Nolan
Chief Marketing Officer
This email address is being protected from spambots. You need JavaScript enabled to view it.
847.533.3069

XCM® Releases New API for Engagement Task Data

Quincy, Mass. – May 26, 2020XCM®, the leading provider of cloud-based workflow and productivity enablement solutions for tax and accounting professionals, has launched a new application programming interface (API) to retrieve audit information from XCMworkflow. This API is part of the award-winning XCMapi® group of over 50 APIs that enable firms and businesses to access and update their XCMworkflow® or XCMscheduler® data.

As part of the overall connectivity strategy, APIs enable the XCM application to talk to third party solutions and exchange data to extend the value already provided to XCM customers. This latest GET API will allow XCM customers to access their engagement task information, including key dates and acceptance detail, typically captured throughout the lifecycle of an audit engagement, used to create a number of unique reporting needs and often leveraged during peer review.

“We are delighted to see the creative ways that XCMapi customers have been using their data,” said XCM Chief Product Officer Jairam Padmanabhan. “At the end of the day, XCMapi further extends the capabilities of XCMworkflow to give our customers options to become even more productive.”

With the variety of specialized technology used by public accounting firms and corporations today, having the flexibility to connect the dots across systems is more important than ever before. XCMapi already empowers customers to comingle data across their tech stack for enhanced reporting. When used in conjunction with other companies’ APIs, data can be updated across systems. For example, this new API could be used to access data within XCM to further expand engagement integration and broader firm analytics.

“The open architecture of XCMapi gives the customer complete control over how their workflow data is used,” said XCM Vice President of Development & Engineering Sanjath Sulkunte. “It is immensely gratifying to see the API stack grow as a result of our experienced development teams’ ability to incorporate customer feedback and improve their user experience.”

About XCM


XCM offers a complete productivity enablement and workflow platform that empowers you to manage all types of work—within all departments, across multiple offices. 

Our solutions include XCMworkflow®, XCMscheduler®, XCManalytics as a Service®, XCMapi®, and Xpitax® Outsourcing—all designed by tax and accounting professionals and process experts to help you work more efficiently and effectively in a digital environment. 

XCM is an open platform system that works horizontally across tax, accounting, finance, audit, and operations applications. We manage millions of processes per year, enabling professionals to complete more work, in less time, with greater quality. Our device and browser-agnostic cloud solutions offer real-time anywhere, anytime access to work.

Though we integrate with several popular tax and accounting packages, the real payback is through your greatest asset—your people.


For more information, visit xcmsolutions.com

Follow us on LinkedIn, Twitter, and Facebook

MEDIA CONTACT:
Susan Nolan
Chief Marketing Officer
This email address is being protected from spambots. You need JavaScript enabled to view it.
847.533.3069


Validis Supporting Lenders with Loan Application Acceleration During COVID-19

We are working in unprecedented conditions.

This is truly a unique and urgent situation. Governments and Central Banks have come together to provide liquidity, reassurance, and fiscal stimulus to our markets. Access to credit and flexible credit structures – provided by lenders or government agencies – are key to restoring economic order and eventual recovery.

We must all come together in this effort – we each have an important part to play.

In the near-term, lenders will be deluged with new credit applications, requests for forbearance and for increased limits on existing facilities. They will not be able to cope with the inbound volume of requests. During the week of March 16th, US Lenders reported a 600% spike in application volumes to Validis and we have seen a similar impact across the UK as well.

Information will be the critical ingredient in decisioning any credit request. The information needed cannot be stale, crude or backward looking. It must be timely, straight from the applicants own accounting system with emphasis on cash and movements in receivables and payables. It must be continually monitored going forward. Loan loss reserves, regulatory reporting and RWC decisions will be driven off this data.

We are uniquely positioned to throw embattled Lenders, Businesses and Governments an immediate lifeline. 

Live, accessible and interpretable accounting data

We automate access and review of business financials. We turn data from business accounting systems in to clear, crisp and consistent reports for lenders. And we offer this 100% digitally without the need for lengthy API integration development (through our white-labelled client portal).

Loan during COVID-19

Today we are supporting some of the World’s largest lenders as they deal with unprecedented credit volume demands in the wake of COVID-19.

In particular, we are helping them:

  • provide immediate relief to the volume of requests for: New credit, Forbearance, Re-Structuring and Limit increases;
  • access new emergency government programs;
  • access real-time accounting records, fully permissioned, directly obtained from the borrowers own accounting software system for origination purposes;
  • provide access to borrower accounting records, for monitoring and regulatory reporting purposes;
  • populate lenders preferred spreadsheet tool with current accounting information, auto-calculating financial ratio detail for them;
  • detect application fraud, by flagging non-standard patterns in the preparation of financials;

During these uncertain times, ensuring credit facilities reach the businesses that need them is one of the key activities that can limit the economic impact and support future recovery. Lenders scaling operations in order to deal with the vast increases in demand must digitise their operations far more quickly than they have ever done in the past.

If you are struggling to deal with the unprecedented volumes of business loan requests, then we can help. Contact  Validis today.

Source: Validis Blog

Zoho Ramps Up Global Assistance Efforts with New Vertical Relief Plan

Targeted Programs Introduced to Aid Organizations Across Education, Non-Profit & Government, and Retail Industries


Austin, Texas (April, 29, 2020)
—Zoho Corporation, a global technology company that offers the most comprehensive suite of business software applications in the industry, is introducing its Vertical Relief Plan (VRP) comprised of programs and tools to assist businesses and organizations in need across three verticals severely impacted by the crisis: Education, Non-Profit & Government, and Retail.

"We are so grateful to all the workers who are helping us weather this storm," said Sridhar Vembu, Zoho co-founder and CEO. "Beyond those on the front lines, there are workers in industries who are struggling, who are persevering, who are inventing new paths forward. The Vertical Relief Plan is a way to support those people, whether they be teachers, government workers, or retailers, who are entirely committed to helping others and returning the world to solid ground."

At an earlier stage of the current crisis, Zoho introduced several initiatives to assist the broader business community, including the Small Business Emergency Subscription Assistance Program and Remotely, which now is being actively used by more than 15,000 new global businesses. 

Since then, data has emerged pinpointing which industries have been disproportionately hurt as a result of the pandemic. In the United States, which has seen the highest number of cases globally, retail is among the six sectors most affected by the COVID-19 shutdowns. Around the world, an estimated 290 million students are out of school, according to one UNESCO survey. In response, local governments and NGOs have been stretched thin, lacking resources needed to keep people safe and economies going.

The VRP is a targeted effort to provide maximum assistance for businesses and organizations within these three industries that have been most critically hit during this crisis. In addition to these programs, Zoho is encouraging small businesses, as well as finance, sales, marketing, and HR professionals within larger organizations to utilize discounts, training, and support programs that the company is offering to help them adapt to their changing roles during this time.  

Here are some of the key features of the Vertical Relief Plan followed by a list of Zoho's additional support programs to assist with change management: 

NON-PROFIT & GOVERNMENT

Zoho Creator COVID-19 App Program

  • The program helps non-profits, government bodies, and communities that are working on various programs like patient monitoring or food distribution to execute their mission more efficiently with the help of apps.
  • These organizations can place a request, and Zoho will build web and mobile apps for free using Zoho Creator, a low-code application development platform. Zoho can, for example, create tools to help non-profits or community groups organize shelters or distribute food or other essential services.
  • Since the program was piloted two weeks ago, it has received over 70 requests and has already delivered 10+ apps, including the Citizen Communication App and Medical Staff Management App for local government bodies in India.

Zoho Desk

  • For government agencies and departments around the world that are working on COVID-19 relief initiatives, Zoho is currently offering free software licenses of Zoho Desk, the company's help desk software. 
  • This offering is intended to support federal and local government bodies globally in their efforts to combat the pandemic. Zoho Desk provides teams with the tools to manage their work and communication, and support citizens as well as government agencies in this time of distress. 

Zoho Social

  • Increasingly, non-profits are turning to social media to drive donations and manage distribution pipelines. Governments are using social media more than ever to spread awareness and communicate breaking developments.
  • To aid these organizations reliant on social media, Zoho Social is opening up its advanced edition for free for six months. It is also honoring extension requests from users as well as providing educational guidance and tool improvements to aid users working remotely.

Zoho Checkout

  • For non-profits working to provide relief during the pandemic, Zoho Checkout is available for free, enabling them to collect online donations easily.

EDUCATION

Zoho Classes

  • Zoho Classes, available for early access, is a new mobile application that enables educational and training institutes to serve their students online. This platform replaces the need for educators to deploy multiple, disintegrated apps including video content delivery, classroom communication apps, assignment management tools, as well as video-lesson and project-creation applications, and instead build the class on one platform.
  • Using Zoho Classes, teachers and institutions can upload courses, broadcast live classes, share assignments under set deadlines, and collect responses on one interface.
  • Zoho Classes is built with several layers of security ensuring the privacy and safety of users:
      • In Zoho Classes, teachers and students log in to the same application, which means that anything being sent or received can be centrally monitored by the school principal or an administrator.
      • Students can only join a group after an invitation is sent directly from their school.
      • Zoho Classes, as with all Zoho products, runs on the company's own data centers that adhere to the highest global security standards.
      • Zoho Classes is completely free for government schools in India. For schools outside of India, the platform is free to up to 100 students.

Zoho ShowTime

  • Zoho ShowTime facilitates virtual collaborative learning and interactive events. It is a complementary tool to Zoho Classes aimed at more individualized and interactive learning environments including classroom breakouts or professional training. One-click access to ShowTime within Zoho Classes will be available in the coming weeks.
  • Zoho is offering all premium engagement features of ShowTime, from the Basic plan onwards, at no additional cost to users. 

RETAIL

Zoho Commerce

  • Retail storefronts, shuttered due to the crisis, can build out an online presence using the Zoho Commerce Starter Plan for free, up to 60 days. 
  • For existing Zoho Commerce customers, the company is raising the transaction fee threshold to $3,000 in sales for the Starter Plan and to $8,000 for the Pro Plan for the next 3 months to assist with tougher economic conditions. 
  • Businesses providing essential services, such as retail or pharmaceuticals, can quickly set up their online presence by availing free training and rapid onboarding of Zoho Inventory, Zoho's order management software, set up specially for them. 

Additional Programs in Support of Change Management 

This pandemic has created an unpredictable business landscape. While many industries and companies have been forced to furlough employees, others are hiring, including pharmacies, food service providers, and healthcare organizations. Whether growing or pivoting or simply trying to sustain business, Zoho is providing workers and companies additional support across several business categories. 

Zoho Survey is now available at a 50% price reduction to allow businesses and team leaders to swiftly prepare surveys and questionnaires to collect data needed to make smarter, swifter decisions during this time. The company has also provided several crisis-related survey templates to help organizations jump-start the data collection process. Furthermore, Zoho Campaigns now offers crisis templates to assist with outreach and communications.

Zoho has increased the storage limit for businesses using WorkDrive to 1TB of shared storage for the Starter plan and 3TB of shared storage for the Team plan. After 10 users, Zoho will give an additional 100GB of storage for the Starter plan and 300GB for the Team plan for every new user. This increased storage helps businesses currently experiencing higher-than-normal volume, such as NGOs or eCommerce businesses. For businesses developing new lines of revenue, WorkDrive serves as a centralized, scalable, data management and storage platform.  

Zoho is offering several development programs through Zoho People, including unexpected change management training, privacy and security training, stress management training, new technology training, onboarding training, communication and collaboration training, and role-change training.

Zoho is rolling out free Zoho Recruit video credits until the end of June, 2020. Zoho Recruit has integrated with Zoho Meeting to make the video interface possible. The application will help recruiters provide timely, positive, virtual candidate experiences for those companies who cannot staff fast enough due to the crisis. Additionally, Zoho Meeting is now free with Zoho Bookings, making virtual appointment scheduling seamless in order to aid the rising demands of a global remote workforce.

Zoho has created numerous additional resources, including a live COVID-19 impact dashboardfinancial planning and recovery advicea remote working help center, and virtual user groups, to assist businesses during this time. For a comprehensive list of programs, please go to: www.zoho.com/covid19



About Zoho

With 45+ apps in nearly every major business category, including sales, marketing, customer support, accounting and back office operations, and an array of productivity and collaboration tools, Zoho Corporation is one of the world's most prolific software companies.

Zoho is privately held and profitable with more than 8,000 employees. Zoho is headquartered in Austin, Texas with international headquarters in Chennai, India. Additional offices are in the United States, India, Japan, China, Singapore, Mexico, Australia, the Netherlands, and the United Arab Emirates.

Zoho respects user privacy and does not have an ad-revenue model in any part of its business, including its free products. More than 50 million users around the world, across hundreds of thousands of companies, rely on Zoho every day to run their businesses, including Zoho itself. For more information, please visit www.zoho.com.

 

Contact

Sandra Lo

Zoho Corporate PR

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Operating a modern practice in the information age requires a modern platform which uses your existing firm and client data to help you serve clients more efficiently and effectively. The massive amount of data available from clients and from our systems is a potential strategic asset for firms and represents a potential liability for firms who are stuck in the past. Only by measuring, summarizing, and reporting performance data in near real time can we offer the truly proactive service demanded by our clients.

It's past time to retire your ticker colored pencil, any remaining columnar pads, and your adding machine to bring your firm and its client service into the twenty-first century. Modern firms need to work with integrated, cloud-based applications which have modern interfaces, an open platform, and which share a common database and are accessible from anywhere at any time. These firms must embrace the automation of traditional tasks to improve both the effectiveness and the efficiency of their engagements as they transition their practice into new markets and new services.
 
Learn more about how your firm can use data proactively by downloading a white paper written by K2’s Brian Tankersley, “Leveraging Data and Technologies for Sustainable Competitive Advantage” by clicking here

    

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