Wolters Kluwer - Best Search Technology Solution

Company: Wolters Kluwer, Sydney, NSW, Australia
Entry Submitted By: 12 Worlds Communications
Company Description: Wolters Kluwer Tax & Accounting is a leading provider of software solutions and local expertise that helps tax, accounting, and audit professionals research and navigate complex regulations, comply with legislation, manage their businesses and advise clients with speed, accuracy and efficiency.
Nomination Category: Product & Service Categories - Content & Content Technology Solutions
Nomination Sub Category: Search Technology Solution

Nomination Title: How CCH iKnow Transformed Navigation of Complex Tax Topics Quickly for Accounting Professionals

If this is a brand-new product, state the date on which it was released. If this is a new version of an existing product, state the date on which the update was released:

In January 2020, Wolters Kluwer developed an update for its existing tax research platform for accounting professionals, CCH iKnow.

In an industry first for tax research, CCH iKnow has developed an innovative 360-degree research functionality. This ensures accounting professionals quickly gain insights into today’s challenging accounting matters.

CCH iKnow works by putting expert content, real-world examples, and hundreds of practical tools at accountants' fingertips.

It helps accounting professionals navigate complex tax topics quickly. Its balanced commentary and up-to-date data and insights are prepared by the same team that powers the highly renowned Australian Master Tax Guide – which has been published by Wolters Kluwer in Australia for over 50 years.

CCH iKnow provides relevant, in-depth accounting research and tools all written by accounting professionals, for accounting professionals. The CCH iKnow platform houses the latest legislation, rulings, cases and judgement source material and these are overlaid with topic guides, including news and commentary.

In an industry first for tax research, CCH iKnow has now developed an innovative 360-degree research functionality. This ensures accounting professionals quickly gain insights into today’s challenging accounting matters.

The new CCH iKnow architecture creates fast, accurate access to in-depth research content. It is formatted into a comprehensive matrix of industry-leading content, expert analysis and practical tools across 11 modules designed to help accounting professionals navigate the practice areas that best suit their firm.

With this innovative 360-degree view of legislation, users can now view related commentary, releases and rulings, cases and practical tools. CCH iKnow has transformed how accounting professionals streamline and accelerate tax research – accessing everything they need to know in one place. Typically, these are not easy to find, and recent market research from Wolters Kluwer highlights 47% of respondents wanted PBRs integrated with existing tax content. Subscribers can now locate PBRs in seconds.

CCH iKnow is currently the industry’s only single interface platform with practice area specificity, workflow alignment and rapidly actionable insights. Search is made even easier for accounting professionals able to locate the effective life of any asset by industry code or name using CCH iKnow’s Depreciation Rate Finder.

In addition, with almost half of Australian accountants using Private Binding Rulings with the Australian Taxation Office, CCH iKnow has made locating them easier with its unique Private Binding Rulings (PBR) Finder. Over 130,000 ATO PBR are built seamlessly into the CCH iKnow platform.

CCH iKnow has been able to implement a new benchmark of enhanced findability, searchability and usability for taxation intelligence based on its commitment to contextual monitoring of its customer base. Australian accounting professionals have embraced the new-look CCH iKnow as theyseek precise intelligence.

This was never more apparent than during 2020 when business owners and accounting professionals, had to managean unprecedented volume of information being shared with them daily, including more tax legislation in a few months than over the past few years combined.

The new-look CCH iKnow and its revolutionary 360 degree browse structure enabledusers to locate the right answer they needed in just a few intuitive clicks.

According to CCH iKnow users, an example of the platform’s value add offering is CCH iKnow Practical Tools. These are designed to streamline an accounting practice and help the firm grow. Practical Tools support smoother compliance services, which remain the bread and butter work for most firms. They make year-end (and responding to a global health crisis and changing legislation) compliance faster, easier and smarter with an extensive collection of:

Procedures 
Checklists
Calculators
Workpapers
Forms
Templated letters

A CCH iKnow-powered COVID-19 Resource Hub across the region proved to be overwhelmingly popular with subscribers due to its ease of use. A webinar designed to share insights and showcase the 360-degree browse structure of CCH iKnow achieved over 4,000 registrations and 99% engagement during the webinar itself.

This level of interest in the new capabilities of CCH iKnow is exceeding previous in-bound enquiries.

CCH iKnow has innovated how accounting professionals navigate complex tax topics and use these insights to build proactive accounting advisory opportunities. Wolters Kluwer was recognised with a Asia Pacific 2021 Gold Stevie® Award for CCH iKnow in the Award for Innovation in Technology Award for Innovation in Technology Management, Planning & Implementation category.

Please refer to:

How CCH iKnow Transformed Navigation of Complex Tax Topics Quickly for Accounting Professionals brochure