(RIVERWOODS, ILL., April 18, 2006) – ProSystem fx Profit Driver now empowers accountants to advise their clients on how they stack up against a number of important financial benchmarks and lay out specific steps for improvement against those benchmarks. Profit Driver is a financial diagnostic and analytical solution from CCH, a Wolters Kluwer business and a leading provider of tax and business information, software and services (CCHGroup.com).
“Increasingly, clients look to their accountants to tell them how they are doing, and more importantly, how to do better. With its new benchmark data, Profit Driver lets accountants do that in depth, with real substance,” said Stuart Gill, CCH product manager. “Profit Driver also allows the accountant to become a trusted advisor and coach, showing the client just what needs to be changed and just how much improvement is possible.”
Benchmarking data can be selected by industry and specific criteria of the business based on sales size, total assets size or historical data. “Traffic lighting” can be used to immediately identify how a business compares to industry standards for classic financial ratios, identifying both areas of the business where a client excels and where there is room for improvement compared to competitors.
“What if” analysis is integrated with the benchmarking data. This allows users to show what the financial ratios and statements would be for a business if it matched the industry standards. Profit Driver’s goalseeking function crunches the benchmarking data and provides guidance for success, with specific targets for how to attain those goals in all areas where a business needs improvement. Reporting on the benchmarks is also available.
About ProSystem fx Profit Driver
ProSystem fx Profit Driver is a financial diagnostic and analytical solution that transforms client data into an interactive strategic planning tool, enabling professionals to instantly show their clients the outcomes of what-if scenarios and develop detailed plans for reaching goals. Profit Driver integrates with the ProSystem fx Office, as well as data in spreadsheet form.
For More Information
For more information on ProSystem fx Profit Driver, visit CCHGroup.com or call 1-800-PFX-9998.
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.