Cloud-based, end-to-end trial balance solution uses Artificial Intelligence and Machine Learning to drive firm efficiency by eliminating the manual process of grouping accounts when ingesting trial balances

Today, Wolters Kluwer Tax & Accounting announced that its cloud-based CCH Axcess™ Financial Prep expert solution for tax & accounting professionals was named a winner in the Artificial Intelligence Excellence Awards program presented by the Business Intelligence Group.

CCH Axcess™ Financial Prep is cloud-based and uses advanced Artificial Intelligence (AI) and Machine Learning technologies to eliminate the manual process of grouping accounts when preparing business tax returns. This dynamic, end-to-end trial balance solution leverages data residing in a common cloud database to enable multiple staff to work simultaneously within the same engagement. Once users upload client trial balance data into CCH Axcess™ Financial Prep, tax balances are instantly produced, tax codes are intelligently grouped, and tax reports are automatically created. Users can make necessary adjustments based on their professional judgment before sending balances to the business tax return in CCH Axcess™ Tax.

“We are thrilled to see the Business Intelligence Group recognize this innovative expert solution with their prestigious inaugural awards program,” said Colleen Knuff, Vice President of Audit Product Management at Wolters Kluwer Tax and Accounting North America. “As tax and accounting firms continue their digital transformation journey, they see clear benefits of this end-to-end trial balance solution as it enables their staff to be more accurate, efficient, and productive for their business clients. Our customers indicate that this solution can save them as much as 60 minutes per return.”

“We are so proud to name Wolters Kluwer Tax & Accounting as a winner in our inaugural Artificial Intelligence Excellence Awards program”, said Maria Jimenez, chief nominations officer for Business Intelligence Group. “It was clear to our judges that the CCH Axcess™ Financial Prep expert solution was using AI to improve the lives of customers and their employees. Congratulations to the entire team!”

About Business Intelligence Group

The Business Intelligence Group was founded with the mission of recognizing true talent and superior performance in the business world. Unlike other industry award programs, these programs are judged by business executives having experience and knowledge. The organization’s proprietary and unique scoring system selectively measures performance across multiple business domains and then rewards those companies whose achievements stand above those of their peers.

About Wolters Kluwer

Wolters Kluwer (WKL) is a global leader in professional information, software solutions, and services for the healthcare; tax and accounting; governance, risk and compliance; and legal and regulatory sectors. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with advanced technology and services.

Wolters Kluwer reported 2021 annual revenues of €4.8 billion. The group serves customers in over 180 countries, maintains operations in over 40 countries, and employs approximately 19,800 people worldwide. The company is headquartered in Alphen aan den Rijn, the Netherlands.

Wolters Kluwer shares are listed on Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices. Wolters Kluwer has a sponsored Level 1 American Depositary Receipt (ADR) program. The ADRs are traded on the over-the-counter market in the U.S. (WTKWY).

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