At its annual CCH Connections user conference, held last week in Austin, Wolters Kluwer Tax & Accounting launched two new additions to its CCH Axcess line of products – CCH Axcess Validate, and the CCH Axcess Marketplace.
CCH Axcess Validate automates the bank confirmation process for audits, leveraging blockchain technology to gather financial data from banks and other financial institutions with a certified audit trail showing proof of all the interactions and identities involved.
“Unlike other solutions available today, CCH Axcess Validate uses blockchain technology to share confidential financial data during the audit of a business,” said Colleen Knuff, vice president of audit product management, in a statement. “This patent-pending solution enables the auditor to obtain detailed transactional data directly from financial institutions, further enabling matching of transactions to the client records for verification.”
“Additionally, CCH Axcess Validate allows the auditor to share the audit results with third parties, like peer reviewers and inspectors or other auditors that are engaged with the audited business, in a trustable and secure way,” she added.
Meanwhile, CCH Axcess Marketplace gives technology integrators a single place to find third-party solutions that integrate with CCH Axcess data. There is also a developer portal to help application developers and technology integrators use CCH Axcess’ open APIs.
“When we first launched the CCH Axcess™ expert solution, we built it on an open integration platform so firms could leverage common client data across other applications and systems,” said Cathy Rowe, vice president of product management, for the U.S. professional market, in a statement. “Building stronger partnerships with technology integrators provides our customers with more options and opportunities to automate their processes and improve efficiency and productivity.”
Developers and technology integrators can get three levels of CCH Axcess APIs:
- The entry-level Licensed Consultant tier for those who want to try API data for testing purposes or to build custom integrations;
- The Licensed Integrator Partner tier, with the right to license and resell products based on API data, as well as marketing and training support for Wolters Kluwer; and,
- The Software Partner tier, which offers a higher level of API and tech support.
For more information on the partner program, click here.
Finally, Wolters Kluwer announced that it has joined the Vendor Marketing Program of the BDO Alliance, a nationawide association of independent accounting firms.