Wolters Kluwer Introduces CCH Axcess™ Engagement, Strengthening Workpaper Management and Delivering Streamlined Collaboration

Rhea-AI Summary

Wolters Kluwer has launched the CCH Axcess Engagement, enhancing its cloud-based CCH Axcess platform for accounting firms. This tool streamlines the audit workflow, offering features such as real-time collaboration, automatic account grouping, and easy imports from QuickBooks Online and Xero. By reducing manual tasks, firms can focus on advisory work, thereby increasing efficiency and profitability. The new solution enables automated financial statement generation and supports a data-driven audit approach, benefiting firms looking to modernize their processes.

Positive

• Launch of CCH Axcess Engagement improves cloud-based audit workflow.
• Features include real-time collaboration, automatic account grouping, and trial balance imports from QuickBooks and Xero.
• Eliminates low-value tasks, allowing firms to focus on advisory services.
• Automated financial statements enhance planning and auditing efficiency.

Negative

• None.

With this cloud-based workpaper management and trial balance solution, CPA firms of all sizes save time and money while improving compliance with anytime, anywhere access.

NEW YORK--(BUSINESS WIRE)-- Adding to the growing CCH Axcess™ platform, Wolters Kluwer Tax & Accounting introduces the early adopter launch of CCH Axcess Engagement, expanding the audit workflow in its award-winning, cloud-based CCH Axcess tax preparation, compliance and workflow management platform. Flexible enough for both simple and complex engagements, CCH Axcess Engagement lets accounting firms leave behind less efficient tools, especially within their audit practice.

CCH Axcess Engagement offers timely product updates, real-time collaboration and data, quick search ability, and access to the CCH Axcess common client database. By itself, the automatic grouping of accounts functionality can save as much as 1-hour of time on every trial balance. CCH Axcess Engagement helps firms:

• Win the war on talent by eliminating low value tasks to save more time for advisory work
• Remove server management and associated costs, putting the focus back on the client versus on the technology
• Eliminate the need to request client data by enabling easy import of trial balances through direct connection with QuickBooks® Online and Xero™

“Manual data entry, static data, and redundant processes due to outdated technology are a thing of the past.” says Colleen Knuff, CPA, CITP, CRMA, NPDP and Vice President of Audit Product Management at Wolters Kluwer Tax and Accounting North America. “This solution is the final building block in moving our Integrated Audit Approach to the CCH Axcess platform, supporting our ever-evolving risk-based, data-driven audit and helping firms realize the full benefits of a cloud-based audit offering. With this first release of CCH Axcess Engagement, we are enabling firms to be agile and iterative with their adoption of a data-first, data-driven methodology which will empower firms to adapt and stay highly profitable.”

To get started, it’s as easy as opening your browser and accessing the URL or simply launch it from the CCH Axcess dashboard. “Financial statements in CCH Axcess Engagement are auto-generated, which will be great for planning, materiality and knowing where to focus. Additionally, our reviewers will be able to compare the financial statement to the trial balance much faster than before,” states Amanda Gessner, CPA, CFE, Audit Manager with Schmitz-Holmstrom.

CCH Axcess Engagement is the newest addition to the award-winning CCH Axcess™ platform, the most complete end-to-end solution allowing firms to audit in the cloud. CCH Axcess, with more than 10 years in the market, provides additional valuable audit solutions including, CCH Axcess™ Validate, TeamMate® Analytics, CCH Axcess™ Knowledge Coach, and CCH Axcess™ Financial Prep. Solutions in the CCH Axcess portfolio are time-tested, reliable and always evolving, offering a full set of innovative tax, accounting and audit tools developed side by side with our customers.

About Wolters Kluwer

Wolters Kluwer (WKL) is a global leader in professional information, software solutions, and services for the healthcare; tax and accounting; governance, risk and compliance; and legal and regulatory sectors. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with advanced technology and services.

Wolters Kluwer reported 2020 annual revenues of €4.6 billion. The group serves customers in over 180 countries, maintains operations in over 40 countries, and employs approximately 19,200 people worldwide. The company is headquartered in Alphen aan den Rijn, the Netherlands.

Wolters Kluwer shares are listed on Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices. Wolters Kluwer has a sponsored Level 1 American Depositary Receipt (ADR) program. The ADRs are traded on the over-the-counter market in the U.S. (WTKWY).

For more information, visit www.wolterskluwer.com, and follow us on Twitter, Facebook, LinkedIn, and YouTube.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220502005681/en/

KELLY DE CASTRO

Wolters Kluwer Tax & Accounting

+1 614-288-5640

kelly.decastro@wolterskluwer.com

Source: Wolters Kluwer

FAQ

What is CCH Axcess Engagement launched by Wolters Kluwer?

CCH Axcess Engagement is a new cloud-based tool that enhances the audit workflow for accounting firms, offering real-time collaboration and automated processes.

How does CCH Axcess Engagement benefit accounting firms?

The tool helps firms save time and improve efficiency by automating tasks such as account grouping and financial statement generation.

What features does CCH Axcess Engagement include?

CCH Axcess Engagement includes real-time collaboration, automatic account grouping, and the ability to import data directly from QuickBooks Online and Xero.

When was CCH Axcess Engagement launched?

CCH Axcess Engagement was launched recently as part of the CCH Axcess platform expansion by Wolters Kluwer.

How does CCH Axcess Engagement improve profitability for firms?

By eliminating low-value tasks and streamlining the audit process, firms can focus more on advisory work, enhancing overall profitability.