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Wolters Kluwer unveils CCH iFirm cloud tax and accounting platform

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Tax and accounting services provider Wolters Kluwer has moved one step closer to offering a suite of cloud accounting products in the UK with the unveiling of its practice management and compliance software platform CCH iFirm.

4th Mar 2024
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The new CCH iFirm platform will roll out in stages in the UK market, with the ultimate aim of providing a firm-wide cloud-based solution for accountants, including tax and accounts production, practice management and document management tools.

It will integrate into workflows including CCH Central, the developer’s integrated suite of on-premise accounting software tools. The new platform will also sync with other third-party accounting and productivity products. 

A release accompanying the news states that CCH iFirm will “enable access to real-time data” and “allow users to access new opportunities driven by data analysis, visualisation, and reporting” while offering “efficient and automated workflows and full integration and visibility across a range of accounting tools”.

Modules due to arrive in the coming month include:  

  • CCH iFirm AML (anti-money laundering): Conducts AML checks on individuals direct from CCH Central, as part of the client-onboarding process.
  • CCH iFirm Accounts Production: Handles the accounts process, from data entry to online filing.
  • CCH iFirm Personal Tax: For accountants to prepare and submit personal tax returns for individual clients.
  • CCH iFirm Validate: Accelerates bank confirmations with cloud-based audit software, using blockchain technology.

While the vendor did not commit to a specific launch date, it confirmed that the first module to go live will be the anti-money laundering tool.

Cloud accounting ecosystem

While Wolters Kluwer has had the online integration tool CCH OneClick in place since 2018, the unveiling of the CCH iFirm platform marks a major milestone in the developer's ambitions to offer a complete suite of cloud accounting products.

 “It’s a natural evolution to move our solutions to the cloud,” Neil Parsons, managing director of Wolters Kluwer Tax and Accounting UK, told AccountingWEB.

“The accounting industry is littered with repetitive tasks and repeatable processes,” he added. “AI and robotics offer huge potential for trimming time off tasks, but where we see the real value for advisory firms in using these technologies is to spot opportunities for cross-selling and advisory services.”

Existing users of Wolters Kluwer CCH Central looking to move to the CCH iFirm platform can choose to make a one-off switch or a phased transition.

“We’ll continue to sell, develop and support our on-premise product,” said Parsons. “Customers can decide how and when they want to migrate to the solution based on what feels right for them. We have an experienced UK team that offers customers confidence when they come to migrate.”

A scalable solution

Brought into the company via an acquisition in 2012, CCH iFirm is established in Wolters Kluwer territories including North America and Asia Pacific. The global solution will now be localised for UK requirements, with the UK launch a first in Europe for CCH iFirm. 

“iFirm has the look and feel of a modern cloud-based accounting platform from start to finish,” said Parsons. “The testing we’ve done with existing and prospective accounting customers has been great. We’ve built the user experience based on customer feedback and the main comments are that it’s clean, simple and easy to use.”

At this moment in time, no details are available about the pricing of CCH iFirm. Parsons stated that it would be transparent and easy to understand.

“We’re lucky to have customers with one or no members of staff right up to the Big Four firms, so above all we need our pricing to be scalable,” he said.

You can find out more about the CCH iFirm product by visiting the Wolters Kluwer stand at the Festival of Accounting & Bookkeeping on 13/14 March at the Birmingham NEC. For more information or to register for your free tickets please visit the FAB website.

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By FactChecker
04th Mar 2024 11:09

Better hope all those clouds aren't a harbinger of rain or even the Sturm und Drang before thunder!

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