Thomson Reuters Source Document Processing Service - Early Season Spike in Usage Experienced
Wednesday, January 20, 2010
Posted by: Boomer Consulting, Inc.
The Tax & Accounting business of Thomson Reuters announced today that its Source Document Processing service is off to a strong start this tax season, having already processed thousands of source documents such as W-2s, 1099s, and K-1s in early January – a nod to an upward trend in user adaptation of this technology solution. Now entering its third year of availability, the Source Document Processing service uses OCR technology to offer automatic labeling and organizing of 1040 client source documents and automatic data transfer to returns.
"With our Source Document Processing service, UltraTax CS® and FileCabinet CS™ users are realizing significant 1040 tax preparation workflow efficiency gains,” said Scott Fleszar, senior director of Strategic Marketing for the Tax & Accounting business of Thomson Reuters. "As client source documents arrive at the firm, administrative staff scan them into FileCabinet CS™, transmit them for processing, and retrieve neatly labeled and organized documents. When ready, the preparer can quickly and easily review the data captured from the source documents, make any necessary edits, and elect to transfer the data directly into UltraTax CS®. This is true zero-time data entry at work, offering a substantial time savings for the firm.”
Special pricing of one flat fee per client is available now. For $6 per client processed, the firm receives both the organized workpaper file as well as the data extraction feature. There is no limit on the number of scanned client source documents per client. The data extraction feature allows users to transfer data captured during OCR processing of source documents into UltraTax CS® for 1040 tax preparation.
The Source Document Processing service combines OCR technology, CS Professional Suite® integration, and paperless processing to speed client source document management and streamline 1040 tax preparation workflow. For more information on the Source Document Processing service, visit CS.ThomsonReuters.com/Source-Document-Processing.
About Thomson Reuters
Thomson Reuters is the world's leading source of intelligent information for businesses and professionals. We combine industry expertise with innovative technology to deliver critical information to leading decision makers in the financial, legal, tax and accounting, healthcare and science and media markets, powered by the world's most trusted news organization. With headquarters in New York and major operations in London and Eagan, Minnesota, Thomson Reuters employs more than 50,000 people and operates in over 100 countries. For more information, go to www.thomsonreuters.com.
The Tax & Accounting business of Thomson Reuters is the leading provider of technology and information solutions, as well as integrated tax compliance software and services to accounting, tax and corporate finance professionals in accounting firms, corporations, law firms and government. Headquartered in New York, Tax & Accounting has major operations in Dallas, Dexter (Michigan), London, Sydney, and Toronto, and offices in nine countries. For more information, go to http://thomsonreuters.com/products_services/taxacct/.