RIVIO News

New CPA.com RIVIO System Delivers Source-Validated Financial Documents

Auditors and financial advisors have a new resource to ensure the accuracy and legitimacy of financial documents.

CPA.com and Confirmation.com today announced the launch of RIVIO Clearinghouse, which delivers CPA source-validated financial documents such as audited financial statements to bankers, shareholders and other investors. These documents are available through a secure, cloud-based platform that offers stronger fraud prevention and more sophisticated controls than existing delivery methods.

Private companies are the backbone of the U.S. economy, making up the overwhelming majority of the nation’s 28 million businesses. Unlike with public companies, whose key data is accessible through the Securities and Exchange Commission’s EDGAR system, there is no central repository for private company financial information. As a result, many private businesses still rely on outdated methods to distribute financial statements, tax forms and other key documents, such as mailing or hand delivering paper copies or emailing unsecure files. Banks, private equity firms and other users of this information have little way of knowing if the data they receive has been altered.

The RIVIO Clearinghouse transforms how private company financial information is exchanged by:

  • Validating that a financial document has been uploaded by a licensed CPA firm
  • Eliminating the possibility that company management can change data once it is uploaded by the CPA firm
  • Allowing companies complete control over who can view the information, so financial data remains private and protected
  • Providing anytime, anywhere access to the information, which can speed lending decisions and other business transactions
  • Protecting private company information with encryption and an IT architecture tested by rigorous security audits

“In today’s digital world, bankers and investors are expecting authenticated sources of data,” said Erik Asgeirsson, president and CEO of CPA.com. “The RIVIO Clearinghouse uniquely provides a system where only licensed CPA firms can upload audited and reviewed financial statements used by lenders, private equity firms and others.”

The online clearinghouse was developed jointly by CPA.com and Confirmation.com, a company that offers a market-leading solution for electronic audit confirmations and is well known in both the accounting profession and the banking industry. RIVIO—an acronym for Repository of Intelligent Validated Inputs and Outputs—has been in a pilot phase with leading firms for the past year and was named a 2016 Top New Product by Accounting Today. The clearinghouse does not replace or compete with firm or bank portals, since it was designed specifically for transferring information between three distinct user groups with features relevant to each. In time, the RIVIO Clearinghouse can be integrated into these portals.

“One of the key benefits of the new clearinghouse is fraud prevention,” said Brian Fox, CPA, president and founder of Confirmation.com. “It’s easy to alter a paper financial document or create a bogus PDF, but the RIVIO Clearinghouse prevents changes once a CPA firm uploads a financial statement. That provides piece of mind for lenders and other interested parties.”

For more information about the clearinghouse, please visit RIVIO.com

“There are legal and reputational issues that can impact a CPA firm when a fraudster misuses their name or unscrupulous executives alter numbers in an otherwise legitimate audit report,” Asgeirsson said. “The RIVIO Clearinghouse eliminates many of these concerns while also maintaining the privity defense for firms.”

Article source: http://www.cpapracticeadvisor.com/news/12202236/new-cpacom-rivio-system-delivers-source-validated-financial-documents

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CPA.com and Confirmation.com Launch Financial Information Exchange

Last week, CPA.com and Confirmation.com announced the launch of RIVIO Clearinghouse, which delivers CPA source-validated financial documents such as audited financial statements to bankers, shareholders and other investors. These documents are available through a secure, cloud-based platform that offers stronger fraud prevention and more sophisticated controls than existing delivery methods.

Private companies are the backbone of the U.S. economy, making up the overwhelming majority of the nation’s 28 million businesses. Unlike with public companies, whose key data is accessible through the Securities and Exchange Commission’s EDGAR system, there is no central repository for private company financial information. As a result, many private businesses still rely on outdated methods to distribute financial statements, tax forms and other key documents, such as mailing or hand delivering paper copies or emailing unsecure files. Banks, private equity firms and other users of this information have little way of knowing if the data they receive has been altered.

The RIVIO Clearinghouse transforms how private company financial information is exchanged by:

•   Validating that a financial document has been uploaded by a licensed CPA firm

•   Eliminating the possibility that company management can change data once it is uploaded by the CPA firm

•   Allowing companies complete control over who can view the information, so financial data remains private and protected

•   Providing anytime, anywhere access to the information, which can speed lending decisions and other business transactions

•   Protecting private company information with encryption and an IT architecture tested by rigorous security audits

“In today’s digital world, bankers and investors are expecting authenticated sources of data,” said Erik Asgeirsson, president and CEO of CPA.com. “The RIVIO Clearinghouse uniquely provides a system where only licensed CPA firms can upload audited and reviewed financial statements used by lenders, private equity firms and others.”

The clearinghouse does not replace or compete with firm or bank portals, since it was designed specifically for transferring information between three distinct user groups with features relevant to each. In time, the RIVIO Clearinghouse can be integrated into these portals.

“One of the key benefits of the new clearinghouse is fraud prevention,” said Brian Fox, CPA, president and founder of Confirmation.com. “It’s easy to alter a paper financial document or create a bogus PDF, but the RIVIO Clearinghouse prevents changes once a CPA firm uploads a financial statement. That provides peace of mind for lenders and other interested parties.”

Article source: https://technologythisweek.net/FreeArticles/RivioInformationExchange/tabid/198/Default.aspx

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CPA.com, Confirmation.com Launch RIVIO Clearinghouse

CPA.com and Confirmation.com have launched RIVIO Clearinghouse, a secure, cloud-based platform for the exchange of CPA source-validated financial documents.

RIVIO—an acronym for Repository of Intelligent Validated Inputs and Outputs—was built for private companies, which lack a central repository for financial information like the Securities and Exchange Commission’s EDGAR system for public companies. Bankers, shareholders and investors can deliver financial documents like audited financial statements through RIVIO, which was built with the same rigorously audited encryption and IT architecture that supports secure online audit confirmation platform Confirmation.com.

CPA.com provides validation that a financial document has been uploaded by a licensed CPA firm and the system prevents companies from changing data once uploaded. Companies have control over who can view information and are also able to recall documents, so that if a financial statement or tax return is withdrawn, RIVIO notifies anyone who has downloaded the document it is no longer the recent version.

CPA.com and Confirmation.com have been piloting the platform with large and midsized accounting firms, banks and private equity firms over the last year. During that process, participating companies have appreciated the clearinghouse’s ability to prevent fraudulent activities like the altering of financial documents or Photoshopping firm letterhead.

“One group that really seems to be overly excited are private equity and venture capital firms,” explained Brian Fox, a CPA and president and founder of Confirmation.com. “They see it as an obvious tool to request financial statements through when investing millions of dollars in a business.” Those companies also tend to be on the bleeding edge of technology, Fox said, with one user describing RIVIO as “effectively like the last mile.” With everything else automated, the executive viewed secure file sharing as the last mile in automated, collaborative tools.

RIVIO is intended to serve a range of firm sizes, from sole practitioners to large firms, with the basic service free for those users that would be, for example, conducting a few audits a year, and the ability to scale up to the business level for $499 per year, professional level for $999 per year, and enterprise level providing unlimited projects (per share) at a price available to firms upon request.

Bankers and investors “want source documents, in today’s digital world,” said Erik Asgeirsson, president and CEO of CPA.com. “They are expecting authenticated sources of data and are excited [to use RIVIO] as a primary source for financial statements, but also to use it for the IRS. Today, with the tax transcript service, you have to go out and ask for a tax transcript from the IRS, and the IRS does not follow up if there are amended returns—our system has that capability.”

RIVIO’s cloud-based platform also provides anytime, anywhere access to the financial information and a “key distinguishing piece, in a paper world,” according to Fox, of signature protection.

“The auditor has no way to protect the signature… RIVIO gives auditors the full ability control their signature, have access to the signature, and for RIVIO to contact third parties [like investors and banks] on their behalf” if financial fraud has been committed.

One question CPA.com and Confirmation.com have encountered since unveiling RIVIO is how it differs from firm portals. The platform “complements existing portals, it doesn’t compete,” Asgeirsson explained. “Firm portals have a different purpose, for firms to collaborate on work products, client audit information, back and forth, and tax information. That is not what this system is about, but financial documents and sharing them in a secure, validated fashion, with the key users.” Soon, the RIVIO Clearinghouse can be integrated into these portals.

Fox estimates about half of the more than 10 firms involved in the pilot process of RIVIO had stories of financial fraud, which, along with various other fraud cases he and Asgeirsson have explored, have proven the need for RIVIO.

“There has been continuing reinforcement for the need for this for the private company market in the U.S.,” Asgeirsson explained. “We’ve brought to light some of the fraud that has occurred due to companies putting out fraudulent financial statement documents to investors.”

More information about RIVIO is available here.

Article source: http://www.accountingtoday.com/accounting-technology/news/cpacom-confirmationcom-launch-rivio-clearinghouse-77988-1.html

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App Watch on CPA.com, Incisive and FieldAware

Greetings from App Watch headquarters, where over the past week we heard about a new financial document clearinghouse from CPA.com; new fraud detecting capabilities from Incisive; and some international language and integration functions from FieldAware.

To be fair, this column is not out to break any news nor regurgitate press releases from the vendor community. App Watch is, however, a weekly snapshot of product vendor and service provider news as it pertains or is of potential interest to accounting professionals and their clients. We also provide a bit of additional insight into what the news means, or could mean, to you and your clients.

Comfy? Ok, let’s go...

News: CPA.com Unveils Financial Information Exchange for Private Companies

CPA.com, a business subsidiary of the AICPA, has partnered with Confirmation.com to officially launch the RIVIO (Repository of Intelligent Validated Inputs and Outputs) Clearinghouse, which assists with CPA source-validated financial documents such as audited financial statements to bankers, shareholders and other investors. RIVIO makes documents available through a secure, cloud-based platform that offers comparatively stronger fraud prevention and more sophisticated controls than existing delivery methods. The product also acts similarly to EDGAR for public companies, creating a secure, central repository for private company financial information. The RIVIO Clearinghouse is designed to validate that a financial document has been uploaded by a licensed CPA firm; allow companies control over who can view the information, so financial data remains private; and protect private company information with encryption and an IT architecture tested by security audits. The clearinghouse does not replace or compete with firm or bank portals, since it was designed specifically for transferring information between three distinct user groups with features relevant to each. In time, the RIVIO Clearinghouse can be integrated into these portals.

Views: OK so on first sight, you may say “what is the importance of this?” Knowing this product fairly well, I can say there are multiple scenarios where it could be of use to a CPA firm and its clients, but the most basic is this: You have a small business client going for some level of financing, be it through a bank, venture capital or some form of private equity. The financier is going to require that business to provide financial documents and an audit statement – which a CPA firm will likely be asked to provide. The issues here are both process and privty. The current process of gathering and exchanging these documents is by all counts antiquated, not to mention open to fraud. It is slow, it restricts certain parties from being able to communicate directly with each other (i.e. if the financier needs a certain document they can’t directly contact the CPA firm and vise versa). Then there’s the issue of these documents potentially being altered, say verbiage being copied and pasted from the Web or even a CPA firm logo pasted onto a document which is then either faxed, emailed or mailed to the lender/financier. I could go on, but the bottom line here is there needs to be a better way to do all of this, CPA.com via RIVIO is offering it.

News: Incisive Adds New Capabilities to Detect Spreadsheet Fraud

Spreadsheet management technology provider Incisive Software Corp. has new capabilities designed to make it easier for organizations to identify fraudulent behavior. The company’s flagship Xcellerator product is now enabled with automated detection capabilities that locate hidden and misrepresented data within spreadsheets. This update also delivers additional performance improvements designed to reduce the amount of time it takes to scan spreadsheets for risk. Xcellerator can now discover hidden cells by height/width, so that it identifies rows and/or columns that are significantly reduced in size; monitors merged cell activity to ensure data is not accidentally or intentionally hidden; and support for Windows 10 and Microsoft Office 2016. 

Views: Look, for good or bad, most of you still work in spreadsheets and, as such, errors can and will occur. This could be through no fault of your own, or your client’s, or…but then again, it could be. Either way some of these errors and misinformation can of course lead down the path to fraud. Having a tool that can locate, verify and “unhide” data and identify areas of risk doesn’t seem like a bad thing to have in your corner.

News: FieldAware Adds International and Integration Functions

The latest release from cloud and mobile field service automation tool maker FieldAware includes integration to several accounting software packages including Sage, Xero, QuickBooks Online and desktop, as well as French language localization. With the integration of FieldAware’s mobile solution the aforementioned accounting platforms, when a work order is complete, and a job is closed-out on a field worker’s mobile device, an invoice can be automatically generated in the back office. The invoice includes all costs related to the work order, such as the cost of service and any parts/inventory consumed, and can be sent to the customer immediately. Integration of FieldAware with a customer’s accounting system also means that new companies, contacts and parts can be created in either system and automatically synced to both platforms. In addition, French is the first language to be released as part of FieldAware’s language localization and international expansion strategy. Available on both the FieldAware web-based app and mobile app, it allows French-speaking businesses to immediately take advantage of the mobile-first field service offering provided by FieldAware. Additional languages will be added with each new quarterly feature release.

Views: OK I was probably going to let this one go, but with the increase of the mobile work force it is highly likely that you have clients this product would be relevant for. Maybe the French language component isn’t quite as relevant, but the fact that it’s moving more international has to be a plus. The real reason for this getting an App Watch mention too is the integration with many of the top accounting platforms your clients are likely using. How well that integration actually works is, of course, one of those try it for yourself moments.

Until next week, we welcome your feedback and submissions openly.

Article source: http://www.accountingweb.com/technology/accounting-software/app-watch-on-cpacom-incisive-and-fieldaware

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CPA.com and Confirmation.com Launch Financial Information Exchange for Private Companies

RIVIO Clearinghouse Addresses Key Need of Bankers and Investors for Validated Data Sources

NEW YORK (May 3, 2016) – CPA.com and Confirmation.com today announced the launch of RIVIO Clearinghouse, which delivers CPA source-validated financial documents such as audited financial statements to bankers, shareholders and other investors. These documents are available through a secure, cloud-based platform that offers stronger fraud prevention and more sophisticated controls than existing delivery methods.

Private companies are the backbone of the U.S. economy, making up the overwhelming majority of the nation’s 28 million businesses. Unlike with public companies, whose key data is accessible through the Securities and Exchange Commission’s EDGAR system, there is no central repository for private company financial information. As a result, many private businesses still rely on outdated methods to distribute financial statements, tax forms and other key documents, such as mailing or hand delivering paper copies or emailing unsecure files. Banks, private equity firms and other users of this information have little way of knowing if the data they receive has been altered.

The RIVIO Clearinghouse transforms how private company financial information is exchanged by:

  • Validating that a financial document has been uploaded by a licensed CPA firm
  • Eliminating the possibility that company management can change data once it is uploaded by the CPA firm
  • Allowing companies complete control over who can view the information, so financial data remains private and protected
  • Providing anytime, anywhere access to the information, which can speed lending decisions and other business transactions
  • Protecting private company information with encryption and an IT architecture tested by rigorous security audits

“In today’s digital world, bankers and investors are expecting authenticated sources of data,” said Erik Asgeirsson, president and CEO of CPA.com. “The RIVIO Clearinghouse uniquely provides a system where only licensed CPA firms can upload audited and reviewed financial statements used by lenders, private equity firms and others.”

The online clearinghouse was developed jointly by CPA.com and Confirmation.com, a company that offers a market-leading solution for electronic audit confirmations and is well known in both the accounting profession and the banking industry. RIVIO—an acronym for Repository of Intelligent Validated Inputs and Outputs—has been in a pilot phase with leading firms for the past year and was named a 2016 Top New Product by Accounting Today. The clearinghouse does not replace or compete with firm or bank portals, since it was designed specifically for transferring information between three distinct user groups with features relevant to each. In time, the RIVIO Clearinghouse can be integrated into these portals.

“One of the key benefits of the new clearinghouse is fraud prevention,” said Brian Fox, CPA, president and founder of Confirmation.com. “It’s easy to alter a paper financial document or create a bogus PDF, but the RIVIO Clearinghouse prevents changes once a CPA firm uploads a financial statement. That provides piece of mind for lenders and other interested parties.”

For more information about the clearinghouse, please visit RIVIO.com

About CPA.com

CPA.com empowers CPAs and businesses for the digital age. The company offers a growing list of digital products and services that help firms succeed in practice management, client advisory services and professional development.

CPA.com is a subsidiary of the AICPA, the world's largest member organization representing the accounting profession. The company has its headquarters in New York City and offices in Silicon Valley, Calif., Dexter, Mich., and Durham, N.C. For more information, visit CPA.com.

About Confirmation.com

Confirmation.com is the world's leading provider of secure online audit confirmations. Today, 13,000 audit firms confirm over $1 trillion annually for 700,000 clients worldwide. Confirmation.com is used in over 125 countries by banks, companies, and law firm to respond to audit confirmation requests. For more information, visit Confirmation.com.

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The 2016 Top New Products

While the vast majority of honorees in our annual Top New Products listing are software and applications, there’s a reason we don’t call it the “Top New Computer Programs.”

Software — whether on desktops or, more and more, in the cloud — has already revolutionized the practice of accounting several times over, and we fully expect that it will continue to do so. But it’s not the only thing with the power to change the field, and the tools that will make the most difference to you won’t always run on your laptop or tablet. (Well, actually, they might — but as content, instead of software.)

Hardware products, services, educational programs and continuing education courses all can have a major impact, too, and this year a number of entries in the last two categories really caught our eye. As knowledge workers and professionals whose value springs in large part from their expertise, accountants are both serious about their ongoing education, and well-positioned to capitalize on new ideas and new ways to demonstrate their competence to clients.

For instance, this year saw a rush of certificate programs in a variety of areas, letting accountants learn about and then prove their knowledge of everything from basic tax prep to handling the tangible property repair regs all the way up to working with nonprofits. It also saw a push on different ways to educate the profession, including in small bites, as well as a program that legitimately, actually, honestly shows you how to predict the future — for real.

And if that doesn’t grab you, there are still plenty of great software tools and apps on this year’s Top New Products. Read on to see the 2016 list.

Accounting

QuickBooks Online Self-Employed (Intuit)

Designed for the rapidly growing on-demand/“gig” economy, Intuit’s QuickBooks Online Self-Employed was built to be as simple as possible for freelancers and independent contractors. The solution imports bank and credit card transactions, capturing them as individual expense cards that customers can categorize as business, personal or both — a process made even easier and more intuitive via the mobile app, where expenses can be swiped left or right. One of QBO Self-Employed’s biggest advantages is its year-round tracking of deductions, so entrepreneurial customers can easily pay those estimates at quarterly and year-end deadlines, minimizing distraction from business operations.

Affordable Care Act Tools

ONESOURCE ACA Reporting & Compliance (Thomson Reuters)

Helping businesses of all sizes comply with the Affordable Care Act is one of the great opportunities of the past few years (as well as one of the bigger nightmares), and we’ve named Thomson Reuters’ ONESOURCE ACA Reporting & Compliance tool as one of our Top New Products for managing the distribution and filing of the forms associated with Obamacare for all the organizations that need to send out 1095-As, Bs and Cs. The Web-based tool tracks form corrections, collects consent forms for electronic distribution, and helps with managing file errors when e-filing with the IRS.

We gave Greatland’s Yearli an Honorable Mention, for adding the ability to file Forms 1095-B and C with the IRS and send copies to recipients, as well as developing a toolkit of great ACA-related resources for users.

Business Analytics

BlackLine Insights (BlackLine)
and Host Analytics Modeling (Host Analytics)

Finance professionals know key performance indicators are crucial to improving business processes and results, but beyond the obvious benchmarks, some mission-critical KPIs can be elusive. While BlackLine Insights includes core accounting activities like account reconciliations, the solution also enables accountants and chief financial officers to hone and calibrate the performance indicators that are most urgent for their business. These numbers can be tracked in real-time, and benchmarked against industry numbers based on live, aggregated and anonymized cloud data collected from other BlackLine customers. And because it lives in the cloud, this data is dynamic and easily adaptable to new and changing business goals, including the new benchmarks that BlackLine will provide in future product updates.

Accountants can bolster their advisory work with Host Analytics Modeling, a module in the company’s cloud enterprise performance management suite that enhances budgeting, planning, forecasting and modeling processes. By integrating both financial planning and operational data from other systems, the cloud modeling engine can map out multiple what-if scenarios related to tax and accounting, and the numbers can be collaborated on across multiple interfaces, from Excel to mobile. The models also cater to a range of user sophistication, from a quick drill-down into profitability metrics to the activities of what Host Analytics dubs “power modelers”—users actively communicating with the data and adding new dimensions and submodels.

In this category, we’re also giving an Honorable Mention to iLumen’s Franchise Intelligence, a productivity tool for CPA firms with franchise consulting practices, which simplifies and standardizes data collection from franchisees.

Certificates and Credentials

AICPA Not-for-Profit Certificate I and II (American Institute of CPAs)

When they want expertise, clients come to accountants; when accountants want expertise, they have to earn it themselves. This year saw the release of a number of different certificate programs to teach a wide range of very specific skills — and then let you prove it. We named the AICPA’s Not-for-Profit Certificate I and II our Top New Products in this category not just because the programs are comprehensive and jam-packed with real-world examples, case studies, animations and videos that will help you bone up on everything from the basics of nonprofit reporting to the complexity of preparing a complete set of NFP financials, but because this is an area that really calls for deeply knowledgeable accountants, and with more firms entering it as a sideline, it’s an area where they can’t afford to be uninformed.

We’ll single out a pair of other programs as Honorable Mentions, each of which touches on a hot regulatory or legislative topic: Wolters Kluwer’s CCH Tangible Property Regulations Certificate, and Thomson Reuters’ Checkpoint Learning Health Care Reform Certificate Program.

Data Transfer

Rivio Secure Financial Statement Clearinghouse (CPA.com and Confirmation.com)

An online clearinghouse for private businesses to exchange financial information with their lenders and investors, Rivio is also a secure platform for these businesses to share secure, authenticated data with their CPA firms. CPA.com provides the front-end verification that CPA firms are appropriately licensed to upload financial information, and Confirmation.com delivers the same technology that powers its own audit confirmation platform. CPA.com and Confirmation.com’s mission for the platform is to eliminate outdated and unsecure methods of exchanging sensitive information such as e-mail, and Rivio provides the controls and collaboration to modernize the process.

Nonprofit Accounting

Abila MIP Advance (Abila)

Abila brought its MIP true fund accounting solution to the cloud, where the comprehensive financial management and reporting tool finds greater agility and integration capabilities. Within that cloud-based interface, MIP Advance presents a multi-dimensional and flexible chart of accounts, with detailed coding and tracking of all financial activities in unlimited segments and dimensions. Users can track, report and manage finances via customizable and role-based dashboards that enable them to view and drill down into the data most essential to their role — whether financial or otherwise. Nonprofits and government entities can then use MIP Advance’s reporting and analytics tools to present this data in digestible, graphical formats that inspire engagement from boards and funding from donors. The solution’s new API also provides easy integration with other applications.

Practice Management

Sage Impact (Sage)

Online, customizable hub Sage Impact was built for accountants, by accountants (or at least with their detailed advisement). And while it imports real-time data from other Sage products, it also integrates with non-Sage solutions. Serving as a central location for practice management and client collaboration, Sage Impact also houses two of the company’s newer cloud-based tools: Sage Value and Sage Match. Capitalizing on the emerging trend of value pricing, Sage Value provides tangible tools to have those cost discussions with clients in the form of service plans, comparison documents and proposal generation, while Sage Match makes accountants more accessible to prospects, giving business owners the ability to search for CPAs based on business focus, goals, location and desired expertise.

SALT Tools

BNA State Tax Analyzer (Bloomberg BNA)

States are on an ever-more-desperate prowl for revenue, and that means more complex tax legislation and more stringent audits. The continually changing landscape of state tax regulations requires a powerful and streamlined tool beyond spreadsheets, and Bloomberg BNA provides it in this multi-state, multi-year, multi-scenario state tax analysis tool. With the cloud-based solution, tax and accounting professionals can do what-if planning, tax provision analysis, quarterly estimates and tax audit response, all with a full audit trail. The State Tax Analyzer also keeps up with the latest legislation, delivering automatic tax-law updates, and provides the added security of permissions controls.

Self-Improvement

The Anticipatory Organization: Accounting & Finance Edition (MACPA/BLI)
and the Insight HR & Career Development Tool (Indiana Society of CPAs)

With a staff crunch going on, the accounting profession is scrambling for warm bodies — but it’s also worth spending some time on the bodies that are already here. Two of our Top New Products do exactly that, offering to help accountants boost their careers by bringing more value to the table. The first is the Anticipatory Organization: Accounting & Finance Edition, a set of video courses and exercises created by a partnership of the Maryland Association of CPAs and its Business Learning Institute with futurist Daniel Burrus. The point of the coursework is to teach you, literally, how to predict the future by identifying reliable trends — and it actually works. The applications for firm strategy, client service, and guiding your own career are endless.

Our second Top Product in the Self-Improvement Category is the Indiana Society of CPAs’ Insight HR & Career Development Tool, which lets CPAs evaluate themselves on core competencies and the “soft skills” that will mark the future leaders of the profession, as well as offering 360-degree assessments, and a toolkit for tracking personal development.

Software Platforms

Onvio (Thomson Reuters)

The cloud has certainly made collaboration and integration easier — but it hasn’t eliminated friction entirely. For that, you need to look at tools that were built from the ground up to interact, and that’s what Thomson Reuters’ new Onvio platform promises, with the added benefit of not having been built on the ground, but in the cloud. It’s designed to give a single look and feel as well as a common database to a host of tax and accounting-related tools, and it launched with two core modules, Onvio Documents for document management and Onvio Client Center, a portal for securely sharing information with clients and staff. Thomson Reuters has already added Onvio Time and Billing, and plans more additions in the future.

Tax Tools

CCH International Tax Compliance Calendar (Wolters Kluwer)

As more and more small businesses find customers overseas, more and more accountants are finding themselves trying to answer awkward questions about international tax issues. We named the CCH International Tax Compliance Calendar a Top New Product for giving users the ability to easily monitor updated tax laws, filing deadlines and compliance changes around the globe — or in just the specific tax jurisdictions where they (and their clients) are interested. Customized alerts and mobility mean you’ll never miss an important development or deadline, no matter how far afield you or the taxing jurisdiction are.

Wolters Kluwer also took an Honorable Mention in this category, for its CCH Code­Connect, which makes it even easier to find useful answers and guidance in its IntelliConnect research platform. We’ll also give a nod to RCReports, an online tool that makes it easy to create reasonable compensation reports for closely held business owners to show the IRS, and to Autokept, which is the only mileage and other tax-related information tracking app we know of that you can talk to.

Article source: http://www.accountingtoday.com/news/accounting-technology/the-2016-top-new-products-77130-1.html

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CPA.com and Confirmation.com Clearinghouse Named as a Top New Product

 

Rivio Clearinghouse to Transform Private Company Financial Information Exchange

NEW YORK (Feb. 8, 2016) – Rivio, the online financial document clearinghouse developed by CPA.com and Confirmation.com, has been named a 2016 Top New Product by Accounting Today, a leading trade publication for the accounting profession.

Rivio was selected as a winner in the “data transfer” category. “CPA.com and Confirmation.com’s mission for the platform is to eliminate outdated and unsecure methods of exchanging sensitive information such as e-mail,” the magazine’s editors wrote, “and Rivio provides the controls and collaboration to modernize the process.”

“This kind of recognition speaks to the value proposition of Rivio,” said Erik Asgeirsson, president and CEO of CPA.com. “Lenders and investors have a strong interest in obtaining the most relevant, authenticated financial information about private companies, but that mechanism didn’t really exist until now. The clearinghouse solves that market problem.”

Rivio is currently in pilot phase, with a full commercial launch scheduled later this year.

“Rivio ensures that banks, shareholders and other authorized parties can get access to CPA-reviewed financial data without fear that the information has been altered in any way,” said Brian Fox, CPA, president and founder of Confirmation.com. “It’s an important, effective tool to minimize risk and fraud.”

To learn more about the clearinghouse, visit Rivio.com.

About CPA.com

CPA.com empowers CPAs and businesses for the digital age. The company offers a growing list of digital products and services that help firms succeed in practice management, client advisory services and professional development.

CPA.com is a subsidiary of the American Institute of CPAs, the world's largest member organization representing the accounting profession, and operates such leading websites as the AICPA Store, AICPA.org and IFRS.com.

The company has its headquarters in New York City and offices in Silicon Valley, Calif., Dexter, Mich., and Durham, N.C. For more information, visit CPA.com.

About Confirmation.com

Confirmation.com is the world’s leading provider of secure online audit confirmations. Today, 13,000 audit firms confirm over $1 trillion annually with over 3,000 banks for 700,000 clients worldwide. Confirmation.com is used in over 125 countries by banks, companies and law firms to respond to audit confirmation requests. For more information, visit Confirmation.com.

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Leaders in Accounting Technology Showcase Innovation at AICPA/CPA.com Event

CPA.com CEO Talks about Shared Purpose in Supporting Greater Diversification of Services

NEW YORK (Jan. 22, 2016) – Accounting technology leaders gave a progress report on how innovation is transforming services throughout the profession and boosting business productivity for CPA firms at the 7th Annual AICPA/CPA.com Executive Roundtable, an invitation-only event for technology executives, entrepreneurs and key influencers.

The roundtable, held Jan. 21-22 at AICPA headquarters, was established as a showcase for new technology and a forum for collaboration, networking and the free exchange of ideas between vendors and thought leaders. The agenda included rapid-fire product reviews from more than three dozen companies and professional updates from leaders in the profession, including American Institute of CPAs President and CEO Barry C. Melancon, CPA, CGMA, and CPA.com President and CEO Erik Asgeirsson. The roundtable also featured panel sessions from members of the media, as well as leaders of major and emerging firms.

“We have a shared purpose in promoting technology and change management,” Asgeirsson said. “This event has fostered an invaluable dialogue about the role innovation can play in advancing the profession, and it’s inspiring to see how much energy there is in this room and how much progress we’ve made since last year.”

Asgeirsson updated attendees on CPA.com’s activities, including Rivio, an online financial information clearinghouse developed in partnership with Confirmation.com that’s designed to speed lending decisions for private companies and minimize the risk of fraud for banks and investors. He also talked about other areas that client advisory services are expanding into, such as sales and local use tax compliance.

Attendees included executives from Bill.com, Biz2Credit, Confirmation.com, Expensify, Gusto, Intacct, Intuit, Paychex, Sage, Tallie, Thomson Reuters, Vertex SMB, Wolters Kluwer, Xero, XCM Solutions, and more.

About CPA.com

CPA.com empowers CPAs and businesses for the digital age. The company offers a growing list of digital products and services that help firms succeed in practice management, client advisory services and professional development.

CPA.com is a subsidiary of the American Institute of CPAs, the world's largest member organization representing the accounting profession, and operates such leading websites as the AICPA Store, AICPA.org and IFRS.com.

The company has its headquarters in New York City and offices in Silicon Valley, Calif., Dexter, Mich., and Durham, N.C. For more information, visit CPA.com.

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CPA.com Unveils New Resources, Programs at Digital CPA

CPA.com announced new partnerships and resources, including a business process outsourcing software buyer’s guide and leadership training program, during the company’s Digital CPA Conference Dec. 7-9.

Article source: http://www.accountingtoday.com/accounting-technology/news/cpacom-unveils-new-resources-programs-at-digital-cpa-76637-1.html

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Expanded Focus on Training and New Solutions in Client Advisory Services, CPA.com CEO Says

Erik Asgeirsson Gives Keynote Address at 2015 Digital CPA Conference

LAS VEGAS (Dec. 8, 2015) – Client advisory services powered by the cloud are now firmly established as a growth opportunity in the accounting profession, with leading firms finding innovative ways to serve clients and differentiate themselves in the marketplace, the chief executive of CPA.com said in his keynote address at this year’s Digital CPA Conference. Better training and strategic planning resources are being put in place, too, as the category expands, he said.

“Our theme for the conference this year is ‘Ideas for Tomorrow’s Business,’ but Digital CPA firms are already putting these concepts into play right now,” said Erik Asgeirsson, president and CEO of CPA.com. “As client advisory service practices becomes more established and broaden into new areas, firms will need new tools to sharpen strategy and staff development – and we’re providing them.”

In his address, Asgeirsson noted:

  • The expansion of client advisory services into new fields, as symbolized by CPA.com’s new alliances with Vertex SMB (state and local use tax compliance) and Biz2Credit (financial technology), as well as its pilot program for Rivio, a secure, financial document clearinghouse for private companies.
  • Initiatives to address change management issues, including 1) the upcoming launch of a seven-part leadership training program for firms by noted leadership coach John Engels, which is being produced and delivered by CPA.com and the AICPA’s Private Companies Practice Section and 2) CPA.com and the Maryland Association of CPAs (MACPA) will be advancing a joint program with technology futurist Daniel Burrus, a keynoter for next year’s Digital CPA.
  • The launch of a new review guide of business process outsourcing software for accounting firms by TrustRadius, a leading business technology review company. The guide, the first of its kind in this field, rated six different software solutions on a range of factors, including applicability for various firm size segments. The report is available at www.cpa.com.

As part of his presentation, Asgeirsson also recognized CPA.com’s first “Innovative Practitioner of the Year,” Natalie B. Hoffmann, CPA, CITP, a partner with Honkamp Krueger & Co. who helped launch her firm’s first business development app.

For next year, the Digital CPA Conference will return to Las Vegas on Dec. 5-7, 2016. As in 2014, the 2016 conference will be co-located with the Information Technology Alliance, an industry group that brings together leading accounting firms, vendors and value-added resellers with similar technology interests. For more information, visit www.digitalcpa.com.

About CPA.com

CPA.com empowers CPAs and businesses for the digital age. The company offers a growing list of digital products and services that help firms succeed in practice management, client advisory services and professional development.

CPA.com is a subsidiary of the American Institute of CPAs, the world's largest member organization representing the accounting profession, and operates such leading websites as the AICPA Store, AICPA.org and IFRS.com.

The company has its headquarters in New York City and offices in Silicon Valley, Calif., Dexter, Mich., and Durham, N.C. For more information, visit CPA.com.

Read more

AICPA moves forward with clearing house of financial statements

The American Institute of Certified Public Accountants (AICPA) is working on a CPA firm validation initiative, which would effectively mean the creation of a clearing house for audited financial statements.

Article source: http://www.theaccountant-online.com/news/aicpa-moves-forward-with-clearing-house-of-financial-statements-4663075/

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