Acquisition Further Strengthens CCH Leadership in Paperless Workflow for Tax and Accounting Professionals
(RIVERWOODS, ILL., March 17, 2006) – CCH, a Wolters Kluwer business and a leading provider of tax and accounting law information, software and services announced today that it has acquired an automated document identification tool, BOCDIP, and a paperless workflow tool, PDFlyer, from DocuMatters, LLC (Bradenton, Fla.). Terms of the agreement were not disclosed.
The tools will be integrated into the CCH portfolio of software solutions, which includes the market-leading ProSystem fx Tax, ProSystem fx Document and ProSystem fx Engagement to further support tax and accounting professionals’ requirements for paperless workflow environments. BOCDIP will be renamed ProSystem fx Scan and the PDFlyer product will continue to carry its current name.
BOCDIP combines a powerful database engine with a proprietary data dictionary to automatically read and recognize client documents (for example, W-2s, K-1s, interest statements, etc.) needed for preparing 1040 income tax returns and other forms for accounting purposes. The software then sorts, bookmarks, and outputs these documents to a single, easy-to-navigate PDF file, allowing the tax professional to use the many powerful annotation tools provided by Adobe Acrobat. The entire process is fully automated and delivered at a significant cost and time savings compared with other available options.
PDFlyer is a powerful and user-friendly Adobe Acrobat plug-in which facilitates working with multiple PDF files in a paperless, dual screen environment. Together, BOCDIP and PDFlyer provide an extremely efficient system for preparing paperless tax returns.
“CCH is focused on ensuring that our customers have best-of-breed, integrated workflow solutions that ensure their competitive advantage,” said Kevin Robert, CCH CEO. “This acquisition and the integration of these tools with the ProSystem fx Office Suite provides CCH customers with a significant advantage in moving to and operating in a paperless office environment where they can realize new efficiencies and opportunities to better serve their clients.”
“We’re pleased that BOCDIP and PDFlyer will become part of CCH’s line of market-leading tax and accounting software solutions,” said Mark Ryburn, CPA, BOCDIP co-creator and part owner of DocuMatters. “We’re excited to go with a winner, and CCH’s customers will be pleased as well. Life is about to get a whole lot easier for them as they use these innovative tools to achieve significant savings in cost and time.”
About CCH, a Wolters Kluwer business
CCH, a Wolters Kluwer business (CCHGroup.com) is a leading provider of tax, audit and accounting information, software and services. It has served tax, accounting and business professionals and their clients since 1913. Among its market-leading products are The ProSystem fx® Office, CCH® Tax Research NetWork™, Accounting Research Manager® and the U.S. Master Tax Guide®. CCH is based in Riverwoods, Ill.
Wolters Kluwer is a leading multinational publisher and information services company. The Company’s core markets are health, corporate services, financial services, tax, accounting, legal, regulation, and education. Wolters Kluwer has annual revenues (2005) of €3.4 billion, employs approximately 18,400 people worldwide and maintains operations across Europe, North America and Asia Pacific. Wolters Kluwer is headquartered in Amsterdam, the Netherlands. Its depositary receipts of shares are quoted on the Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices. For more information, see www.wolterskluwer.com.