The Wolters Kluwer’s Compliance Solutions business is a worldwide leader that is known for its services in information and solutions spanning across various industries. They have their clients who are expert professionals in various industries such as finance, risk and compliance, tax and accounting, etc. Serving in over 150 countries with over 15,000 clients, the organization provides its customers with innovative technological solutions which helps clients to produce a higher productivity rate by managing their risk and legal obligation and compliances and also improving efficiency.
The newly launched tool will serve as an aid for commercial lenders. It erases the traditional mode of manually entering in information from a borrower’s tax schedules and returns, this in turn gives them more opportunity to direct all their resources on a faster route of analysing the given information in order to make the best decisions on behalf of the client.
The Cash Tax Importer utilizes the Optical Character Recognition (OCR) as its major technological base for performing its operations. It uses this technology to extract, the needed information from their source. Another unique feature of this tool is the fact that it also uses human resources to ensure that the information imputed are valid and correct.
In his remark on this new addition, Steven Meirink, Executive Vice President and General Manager, Wolters Kluwer’s Compliance Solutions business talks on the massive challenges that are currently facing commercial lenders generally, especially in properly inputting and analyzing an intending borrower’s credit while meeting up with the stipulated timing and minimizing data errors to the barest minimum. These consistent challenges gave rise to the creation of these new tools.
The Cash Tax Importer and the Cash Insights keeps up with these increasing processing demands right through to the end, thereby increasing effectiveness, productiveness and net profits in the long run.