As I spend my days speaking to every imaginable technology company supporting the tax and legal profession, it is an incredible experience learning what is out there. Big companies who created software years ago will be devoured by the newest round of technology innovators on the horizon. In fact, my list of 1700 software innovations is a surprisingly big one. What most adopters of technology may not realize is the younger and newer companies are ahead of the technology game more than they may think. People generally are unaware that the big name companies may be stuck with old lines of code they have yet to update. When you update the code of this software, you update the servers, the browsers, the mobile, the iPad, and you name it. Across the board upgrading your software to 2019 code affects everything. TaxConnections just went through an upgrade from 2013 code to 2019 code and it is expensive and time consuming.
What is exciting to encounter are the new software innovators out there, the ones who do not spend millions annually on marketing their products. They may not be the well-known big names yet but they spent years using the bigger name software on the market and they figured out a way to make better software. The one thing the best innovators are focused on is making it easier to use the new software. There are Fortune 500 companies who purchased big name software that was very costly yet it is too complicated for people to figure out and they never factored in the cost of training after you purchase the software. What good is tax, accounting or legal software if it takes a rocket scientist to use it? The innovators who are simplifying the process have done an amazing job in improving what is offered to organizations today. I will share examples with you as I encounter them throughout my investigation of more than seventeen hundred software companies this year.
ASC 740 – Tax Reporting Software: We have been tracking the progress of Tax Prodigy who competes with tax reporting software available today. The CEO, Nick Frank has worked with every type of tax reporting software out there over the years and wanted to create a better way to do it. When I started speaking to Nick a few years ago he told me “You need to be a rocket scientist to use most of the tax reporting software on the market so I developed an easy and simple way to do the tax provision. The best part is the information downloads from the Excel Sheet most in house practices are using today.” As a leading innovator and instructor on ASC 740, he has been able to take the tax provision from three months to three days. Obviously, Nick Frank is doing a great job because he is steadily winning accounts from Fortune 500 to 5000 using the newest tax provision software. It is the least expensive tax reporting software on the market to maintain, too. We asked Nick if he would provide complimentary training sessions on ASC 740 which more than 2000 tax professionals have attended to date. The ratings are always very high. You can decide for yourself!
You can register for his two remaining ASC 740 webinars this quarter at:
https://www.taxconnections.com/events/ASC-740-In-Depth-Valuation-Allowances/468 (August 16th)
https://www.taxconnections.com/events/ASC-740-Interim-Reporting/469 (August 31st, 2019)
If you want a tour now, just request one at this Tax Prodigy Link
Tax Calendar: We also discovered an incredible Tax Calendar software which everyone should take the time to tour. It is a valuable time saving software and it’s inexpensive. If you are preparing tax returns in a corporation or a public accounting firm, you will definitely want to tour this Tax Calendar. When I recommend a product or an innovator, I do not take it lightly. What this Tax Calendar does for tax professionals is impressive. They will even scan all your documents for you but I would jump at the opportunity to tour this Tax Calendar now. You should not wait until the end of the year when every tax professional is wishing they were more prepared. Good planning on your part will change your work professional life. Go to the Tax Calendar.
As I work my way through seventeen-hundred software innovations for the tax, accounting and legal profession, I will be happy to keep you informed of what we discovered. Stay alert to my technology posts so you can benefit from what I learn during the process. Now go back and register at the links provided above and you will learn what I am talking about:)
If you have developed a software that serves the tax, accounting or legal profession, please contact us as we want to know about it.
Kat Jennings, TaxConnections, CEO and Founder and Advisory Team provides three areas of services: 1) Internationally recognized, retained executive search services for multinational corporations, public accounting firms, and law firms; 2) Introductions of sellers to buyers of small and medium size accounting firms; and 3) Provide brand building and education services that support and prepare accounting firm owners to buy/sell an accounting practice. We focus on educating the journey to sell a practice and how to increase firm revenue prior to any sale. Our program ensures you start years prior to a sale by learning what is expected of you during the selling process, and introducing firm Partners to cross selling opportunities that are easy to implement and reduce your workload at the same time. We introduce you to value added connections to smartly grow revenue in your accounting practice.
Kat Jennings has been retained by organizations worldwide to locate tax professionals with highly specialized tax knowledge and expertise. She has a thorough understanding of the tax business community, with a proven record of stellar performances matching professionals with organizations. Bringing two parties together to work successfully is the art of understanding personalities, cultural fit, expectations by both parties, flexible or inflexible work environments, understanding what drives and motivates each party, and revolves around the personality and ethics of each executive team.
Kat is a widely recognized expert in high level, tax executive search, as well as connecting buyers and sellers of accounting firms. TaxConnections provides and educates small to medium size accounting firms owners and Partners how to prepare and sell their firms so they can build a succession plan for their retirement. With larger firms seeking to acquire smaller accounting practices, there is a real need to help firm owners prepare to be acquired. Most firm owners are unaware they are not ready to sell when they decide to retire. TaxConnections educates firm owners’ what they need to do years in advance of selling an accounting firm practice.
Senior tax executives expect the utmost privacy when being introduced to multinational organizations about a new tax opportunity under consideration. Having said that, companies searching for a new head of tax expecting tax executive candidates to submit their resume through a resume portal, will never see a full slate of outstanding tax executives available due to a candidates’ desire for greater privacy. This is why privacy focused Uber Tax Recruiters consistently outperform in-house recruiters on tax executive searches.
We offer our clients a Performance Retainer Agreement arrangement so their HR department can still recruit and compete with the tax candidates we present on Head of Tax searches. The client pays us a partial fee upfront, and if they find a candidate they deem better than we introduce to them, we forfeit the final fee. Most of the time, they love and prefer our private introductions to tax executive candidates better than what they source through their own resume portals.
When we represent selling/buying small to medium-sized firms, firm owners/partners also demand greater privacy when considering the sale of their practice. TaxConnections provides a safe place to discuss their business needs, elevate their practices’ online reputation, and increase revenue through new streams of business development by outsourcing work and partnering with other firms. Over three decades, we have worked tirelessly to build relationships between firm owners most organizations rarely have access to in the world of tax. There are numerous possibilities you may never have considered previously to bolster the value of your practice and service offerings.
As a globally recognized consultant to multinational organizations, accounting firms, and law firms searching for tax expertise, Kat has been retained by public accounting firms, law firms, and corporations worldwide including Apple Computer, AC Neilson, Accenture, Agilent Technologies, Allergan, Alza, American Express, American Media, Aon, Baker & McKenzie, Barclays Bank, Bechtel, Cargill, Carl Zieuss Vision, Century Aluminum, Chevron, Clorox, Citigroup, Commercials Metals, Constellation Energy, Countrywide, Del Monte, Deloitte Touche, DFS, DLA Piper, E&J Gallo Winery, Electronic Arts, Ernst &Young, Fox Entertainment, Fremont Investments, General Electric,General Motors, Herbalife, Hewlett Packard, Hyatt, Intel, Jones Lang LaSalle, Kimco Realty, KLA Tencor, Koch Industries, KPMG, Levi Strauss, Liberty Mutual, LKQ, Loews, Logitech, Lucas Film, Maersk, McKesson, Nalco, Newell Rubbermaid, Nissan, Oracle, Orbitax, Pacific Gas & Electric, PwC, QAD, SAIC, SanDisk, Sanmina, Sempra Energy, SONY, Synopsys, Ticketmaster, Trimble Navigation, Toyota, Univar, Wal-Mart, Wells Fargo, Vertex, Yahoo, Xilinx, and many more not listed here.
Contact Kat at 858,999.0053 Office/858.232.4415 Cell or kat@taxconnections.com to request a private consultation regarding the sale of your practice, adding top talent to your organization, or merging your practice with another firm owner with a book of business. The possibilities are endless; if you have a dream of a new vision for your professional life; we will scout opportunities throughout the market to make it happen.
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