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Integrated tax and accounting suites are gaining momentum.
As the tax preparation software market keeps getting smaller, vendors are turning toward integration to improve their chances for attracting and keeping customers. The trend toward integration of tax preparation packages with applicaJions such as accounting, payroll, write-up, financial planning, and document management is unmistakable- and unstoppable.
"Tightly integrated workflow gives firms profitable engagements," says Ernest Zoumot, director of software products for CCH. Stuart Lisk, Orrtax's product manager, says customers are looking for one-stop shopping. "They're not going to want vendors who do not have multiple solutions," says Lisk.
The pace on integration is picking up. Next month, CCH is introducing a writeup product that will integrate with ProSystem fx Tax. Torrance, Calif.based CCH finds "the key with integration is eliminating redundancy and data entry," says Zoumot.
Users will be able to import data to establish companies, customers, and vendors, and have the control to sort columns and enter data as they want to. There will also be data mining, financial wizards, live payroll, and after-the-fact payroll. Accounts Receivable and Payable will be available in future releases. Pricing is not yet finalized. One reason for coming out with a write-up package is that many of CCH's tax customers were using competing products, notes Sue Torgerson, CCH Tax & Accounting segment manager.
Meanwhile, CCH's chief competitor, Thomson's RIA operations, will increase the integration between its Checkpoint research system and the Creative Solutions' UltraTax software.
Integration with UltraTax and Checkpoint with Line Finder is scheduled for the next tax season. Last season, users were able to open Checkpoint within UltraTax, but navigation was more difficult. Line Finder will detect a user's location within the tax return and then direct the user to the appropriate area within Checkpoint.
ATX and Drake Software are also marching forward on the integration front. This year, Caribou, Maine-based ATX has begun offering business-user versions of its Total Accounting Office called Total Command and Cash Command.
"We're providing a mirror version of TAO actually tailored for accountants so it enhances their tax and write-up services," says David Olsen, director, product and business development.
Total Command's financial modules include general ledger, AR, AP, payroll, cash management, CRM, document management, and the BusinessSmarts analytics component....