ARLINGTON, Va., April 25, 2018 /PRNewswire/ -- Bloomberg Tax today announced the release of a new SaaS technology solution, Advantage Automator, designed to help companies reduce or eliminate manual tax and accounting processes – ultimately saving them time and money. Built on the Advantage platform from Bloomberg Tax, Automator leverages Web services, as well as a business rules engine that standardizes workflows between third-party systems (including ERPs), tax systems, and applications that run on the Advantage platform. It has the ability to connect multiple tax and accounting systems using machine-to-machine communications, allowing industry professionals to:
- Integrate, transform, extract, and load data from third party tax compliance systems and general ledger applications
- Centralize financial control and automate complex accounting processes, such as fixed asset repair regulations or technical termination workflows
- Import data and reports from other systems to handle apportionment factors for state tax calculations
- Leverage Robotic Process Automation to define and create workflows that automate repetitive tasks
- Eliminate time-consuming, manual consolidation tasks for reporting purposes
"Advantage Automator addresses the challenges enterprises face every day – to measurably improve efficiency, accuracy, and control of their accounting and tax processes," said Ken Crutchfield, Vice President and General Manager of Bloomberg Tax Technology. "It combines a wide array of processes, data, and disparate systems to drive business results."
Available now, the Automator integrates with other applications on the Advantage platform, including its award-winning Fixed Assets, and State Tax Analyzer solutions, as well as its hosted spreadsheet and document management workflow tools. It gives companies the tools they need to tackle complex tax and accounting workflows that surround tax planning, acquisitions, divestitures, and corporate restructuring. Later this year, Bloomberg Tax will release a Leased Assets software product that integrates with the Automator to address the time-consuming calculations and reporting requirements necessary to comply with the new ASC 842 standard.
"Bloomberg Tax has helped dozens of customers automate complex fixed assets and depreciation workflows, including challenging compliance processes like ASC 606," says Marek Medonos, Executive Director of Professional Services, Bloomberg Tax Technology. "With its ability to process asset activity, manage audits, and manage data from multiple entities, the Automator gives our Professional Services team an edge – ultimately delivering maximum value to our customers."
To learn more about Advantage Automator from Bloomberg Tax, visit www.BloombergTaxTech.com/Automator.
About Bloomberg Tax
Bloomberg Tax provides comprehensive global research, news, and technology services enabling tax professionals to get the timely, accurate, and in-depth information they need to plan and comply with confidence. Our flagship Bloomberg Tax platform combines the proven expertise and perspectives of leading tax practitioners in our renowned Tax Management Portfolios™ with integrated news from the industry-leading Daily Tax Report®, authoritative analysis and insights, primary sources, and time-saving practice tools. Bloomberg Tax technology solutions on our proprietary Advantage platform help professionals simplify complex processes to better control risk and maximize profitability. For more information, visit https://www.bna.com/tax.
SOURCE Bloomberg Tax