Tax season puts a major strain on your department’s time and resources. For many business professionals, tax compliance presents cumbersome and time-wasting issues. CPAs in public practice spend countless hours simply keypunching client-provided tax forms into their tax applications, while their counterparts in industry devote untold hours on issues such as sales and use tax compliance. And across all industries, complying with a maze of payroll-related tax issues consumes tremendous resources.Paper records are inefficient because they consume space, are costly to maintain, and require time to locate. They are also prone to misplacement or damage, which incurs replacement costs. Most of the tax processing firms hire temporary staff to go through and complete tax returns each year, but the cost of doing so is enormous and it’s difficult to track and solve errors that arise from this intensive and repetitive manual process.
Minimize Data Entry Errors, Find What You Need, When You Need It and Ensure Compliance with Tax Return Automation Solution
Our Tax Returns automation solution eliminates the hassle of data-entry and limits the data validation and correction in your document workflow. The system is built on a robust recognition engine comprised of the most accurate OCR engine available and flexible ICR technology for handwritten data. Our Tax automation solution is engineered to integrate within your current back-end database applications and document management workflow. With years of expertise helping Government and Corporate tax agencies, our solution will enable you to
- Automatically encode form data and export extracted information into a database
- Relies on the most accurate OCR and data extraction engine available
- Generate dramatically compressed files for improved transmission and accessibility
- Recognize relevant information with automated content analysis
- Process documents from all over the world with multilingual OCR
- Support multi-page documents and attachments
- Integrate into current document workflows: ODBC Access, command line control, API / Web services API
- Export extracted data into XML & CSV output.
For firms that have moved to a paper-less Tax Workflow, the efficiency gains have been phenomenal – some report time savings of up to 45 minutes per return. With the time saved, tax professionals are focused on higher value activities and delivering better customer services to differentiate and grow their practices. Connectis Solution offers you the ability to be a paperless office, We provide each tax office the opportunity for safe and secure data storage without the hassle of filing cabinets and needing to track files and documents. Payment records, invoices and confidential tax documents are all safely stored and secured with Enterprise Document Management Solution.
Tax Return records for Government, Corporate or individual have traditionally been in paper form. Processing Tax Return forms manually generates silos of paper files waiting to be processed – never ending; but there is a drive to convert all records into an electronic format.
Remaining fully manual is no longer an option. Tax automation is the way of the future—is the path to start on now. Firms who just started their automation initiatives are applying the keys to ensure that they are able to emerge from busy season with happy clients and staff. Firms who have longer standing automation and outsourcing
initiatives have seen increased margins, improved staff work-life balance, and have grown their practices. There is surging interest in automating data entry for T4 returns. Tax firms face chronic shortages of prepares and support staff during the peak tax season. Accounting and tax firms are looking for solutions to reduce or eliminate the grunt work of organizing client source documents, keying data into tax preparation software, and checking numbers. The costs associated with the management and tracking of this paperwork are extremely high. Automating forms-based workflows and, in particular, the life-cycle of business forms represents billions of dollars of potential efficiency gains and hard-dollar cost savings. Thus, it is quite clear that businesses stand to gain a great deal by eliminating manual data entry and replacing it with an automated solution.
All structured and semi-structured forms can now be processed automatically, and the information input directly into your database, without requiring hours of work from your employees.
By automating the process, you can ensure that information does not get lost or fall through the cracks, and you can easily control how the information is processed. Weeks or even months of time can be saved by eliminating manual management of this process in favor of electronic data capture for both paper-based processes and electronic online forms.
Our Form recognition software automatically classifies incoming forms, extracting relevant data field information. Once the data is captured and extracted , the information is processed and validated by the system. Upon validation, client data information is automatically updated and thereby eliminates redundant data entry and duplication by importing client data from your tax preparation software.