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ATO SmartDocs, founded in 2015, automates the processing of ATO documents to reduce administrative load, whilst maintaining security standards recognised by the ATO and accounting firms.
Access noted ATO SmartDocs had transformed how accounting firms approached their processes as it aimed to change tax administration from a labour-intensive, error-prone process into a more streamlined and reliable service.
“The move addresses growing demand from accounting practices seeking efficient solutions to manage ATO compliance obligations, while maintaining accuracy and security standards, and unlocks significant potential for customers of both organisations via a comprehensive suite of connected accounting tools,” Access said.
The acquisition would expand Access’ practice management solutions with a platform offering coverage of 600 tax administration workflows, which would enable firms of varying sizes to compete on capability in a competitive market.
On an annual scope, ATO SmartDocs processes more than 1.5 million documents and has achieved 95 per cent efficiency in comparison to manual processing through an AI technology that significantly reduced tax administration.
Jared Baker, Access Accountants general manager, said the recent acquisition represented a pivotal moment in our mission to provide Australian accounting firms with connected software solutions.
“This platform addresses specific regulatory requirements for Australian accounting firms while creating possibilities for integration with our broader business software portfolio. By bringing ATO SmartDocs into our Access Accountants connected suite alongside HandiSoft, APS, Fathom, ChangeGPS and Elite, we're delivering on our vision of providing integrated solutions while maintaining open standards,” Baker said.
“We understand the importance of flexibility in technology choices. ATO SmartDocs will continue to maintain its existing integrations with third-party practice management systems, and we’re committed to supporting open APIs and data portability standards.”
“This enables our customers to drive profitable and sustainable growth while focusing on higher value-added services rather than manual compliance tasks that eat up time and divert attention away from driving growth.”
Access added that the acquisition would enable accounting firms to simultaneously lower costs through productivity gains and increase income by delivering value-added services to clients.
Speaking about the acquisition, chief executive of ATO SmartDocs, Ron Drost, said joining Access opened “tremendous opportunities” for its accounting firm customers to access complementary solutions that would maximise their potential.
“This partnership delivers immediate value by bringing together the benefits of a global software group with the local knowledge and expertise essential for our compliance-heavy industry,” he said.
“We can now offer even greater value to customers seeking integrated accounting solutions, and this combination creates a powerful platform for sustainable growth across the Australian accounting sector.”
Baker said the acquisition demonstrated Access’ commitment to serving local market needs while providing pathways to enhanced functionality through its global software portfolio.
“We’re passionate about empowering accounting professionals with technology that transforms their practice efficiency and client relationships.”
“We are thrilled to welcome ATO SmartDocs’ customers, partners and team members to The Access Group and we look forward to supporting their continued success through our expanded solution offerings.”