November 07, 2018
Thomson Reuters Announces Partnership with Inflo for Data Analytics
NEW YORK, November 7, 2018– Thomson Reuters has formed a strategic partnership with Inflo to expand the data ingestion and analytics capabilities of the market leading Thomson Reuters Enterprise Cloud Audit Suite. Together, Thomson Reuters and Inflo will provide auditors with progressive, next-generation technology that drives immediate efficiencies and prepares firms for the future of audit.
Emerging innovations such as data analytics, cloud-based technology, and web-based audit solutions are transforming financial audits. Thomson Reuters Enterprise Cloud Audit Suite, including its products such as Checkpoint Engage and AdvanceFlow,, simplify the audit process, providing a completely integrated cloud-based solution that streamlines workflow and reduces risk.
Inflo’s ground-breaking workflow, data ingestion, data analytics and AI software revolutionizes the efficiency, quality and value to clients of audit work. Designed by auditors, for auditors, it significantly enhances the value of the audit in the eyes of the client and broader stakeholders, delivering an incomparable depth of analysis and unique business insights which transform the audit experience for both CPAs and their clients.
“Partnering with Inflo takes our already robust Enterprise Cloud Audit Suite to the next level, providing audit firms with the tools they need to execute effective, high-quality audits while freeing up time to focus on valuable, client-focused activities,” said Scott Spradling CPA, vice president, Audit and Accounting Segment with the Tax Professionals business of Thomson Reuters. “The data ingestion alone, using advanced robotic process automation and backstopped by Inflo’s expert data science team, will transform the profession’s use of data analytics by solving the data ingestion hurdle for firms of every size.”
“We have a deep specialty in accounting technology and incorporating emerging technologies such as artificial intelligence appropriately into services such as audit, making it easy for firms to embrace revolutionary capabilities to replace and enhance traditional techniques,” added Mark Edmondson, President and CEO of Inflo. “Our partnership in the US with Thomson Reuters is set to empower the accounting profession by immediately making available a very exciting audit solution that combines trusted content and workflow with new, innovative techniques to reimagine the future of audit.”
“Data analytics and connectors are very important for firms moving up the continuum of value,” commented Gary Boomer, Visionary & Strategist for Boomer Consulting. “Accumulating data from multiple sources and then performing prescriptive and predictive analytics as well as qualitative and quantitative analysis is the key to providing valuable advisory and consulting services. The accounting profession needs these tools now to meet the needs and wants of their clients. The convergence of data analytics, workflow, and project management reduces time while improving quality and reliability. This partnership is a positive approach to open collaboration in today’s market.”
For more information on the Thomson Reuters Enterprise Cloud Audit Suite, visit tax.thomsonreuters.com/cs-professional-suite/audit-in-the-cloud.
Thomson Reuters Checkpoint tackles market disruption through integrated research, editorial insight, productivity tools, online learning, content marketing solutions and news updates along with intelligent links to related content and software. It is relied on by hundreds of thousands of tax and accounting professionals, and counts among its customers 97 of the Top 100 U.S. law firms, 99 of the Fortune 100 companies, and all of the top 100 U.S. CPA firms.
Thomson Reuters is the world’s leading provider of news and information-based tools to professionals. Our worldwide network of journalists and specialist editors keep customers up to speed on global developments, with a particular focus on legal, regulatory and tax changes. Thomson Reuters shares are listed on the Toronto and New York Stock Exchanges. For more information on Thomson Reuters, visit tr.com and for the latest world news, reuters.com.
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For more information on Inflo visit www.inflosoftware.com
Inflo is a rapidly growing, independent cloud-based Fintech company. Inflo’s software utilizes financial data from the accounting system of an organization to automate and enhance compliance and advisory accounting services, through the use of techniques such as process mining, advanced visualizations, machine learning and AI. The agreement with Thomson Reuters is an equal partnership allowing Thomson Reuters to offer an integrated end-to-end audit solution. Existing Inflo customers will also benefit from the partnership and will not be affected.
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