Touted for release early next year, CCH iQ is currently in the final stages of testing.
Speaking to AccountantsDaily, Pete Sanders, managing director of Wolters Kluwer CCH’s accounting professionals division, said the product marries client information contained in CCH’s iFirm product with content in the iKnow product to deliver insights to accountants that CCH believes will dramatically improve client engagement.
“There are obviously so many events that occur throughout the entire year with accounting firms and their clients, so how do you actually keep track of those and know how they affect your clients?” he said.
“You might have 300 or 500 or 1,000 clients, how do you know who is affected when changes come through? How do you know the degree to which they’re affected? We have built a predicative analytics engine and plugged it into both our iKnow product, which is where all our content is, and our CCH cloud tax as well, so iFirm Tax.”
CCH believes the solution is like nothing else around the world, tapping into its legacy content and growing software expertise.
“Wolters Kluwer CCH is a global player in this space and we haven’t actually seen this anywhere globally, so it’s a truly unique solution marrying content and the software business together.
“We want to provide accountants with the tools to actually have the right conversation or engagements with their clients,” said Mr Sanders.
"It’s not just the event flag for the accountant, it actually gives them the practice tools to work with. There’s also the letters you can send, there’s checklists, worksheets, all that side of things too."
Mr Sanders said there has also been interest from other practice management software vendors so there's sure to be interest, but it is unique to CCH at this stage.
When asked if CCH is likely to offer the service through other vendors, Mr Sanders replied, “not at this time, it’s a very competitive landscape we are in and we are really in it for the iFirm play.”
Pricing for this service is yet to be determined and will be “based on market feedback”, Mr Sanders said.
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