Tech News: Accounting Seed deploys new release with emphasis on consolidation, automation

Tech News: Accounting Seed deploys new release

June 23, 2022 3:45 PM

The Summer '22 release has an emphasis on consolidation and automation; Incorta is touting a new finance data hub; KPMG is partnering with Microsoft on the Digital Gateway platform; and other news from the world of accounting technology.

Accounting Seed deploys new release

david franklin/Getty Images/iStockphoto

Accounting Seed, a software solutions platform for accounting firms, announced its new ‘Summer 22’ release, with an emphasis consolidation and automation. Features with the latest release include the ability to consolidate ledgers in different currencies via the Foreign Currency Translation feature; new automations centered around the customer refund process; configurations for scheduled jobs allowing for immediate processing; and added permission sets regarding data security and monitor access.

Incorta touts new finance data hub

Business data analytics firm Incorta announced the launch of its Analytics Data Hub for Finance. The new platform provides end-to-end service for analysis of accounts payable, receivable, fixed assets and general ledger data. It also provides visibility down to transaction-level details while applying common models and governance controls to data from different sources and destinations. New financial data apps also enhance operational analytics for Oracle ERP Cloud, SAP, Oracle EBS, and Netsuite.

KPMG partners with Microsoft on Digital Gateway platform

The offices for the accounting firm KPMG LLP stand in Los Angeles

Patrick T. Fallon/Bloomberg

Big Four firm KPMG announced a new partnership with Microsoft to enhance its Digital Gateway platform. The partnership augments the platform with three new applications: Tax Advance, Data Factory and Connected Modeling. The latter two process, synthesize and visualize data from an organization’s ERP system, while Tax Advance is a cloud-based collaboration tool that uses Microsoft technology to connect and optimize an organization’s existing document management, process and workflow approaches within the tax and finance functions. The effort is part of KPMG’s $5 billion investment in technology, people and innovation to accelerate digital transformation, and more than $1billion in tax and legal technology.

New features and capabilities

Top 100 Firm Mazars US announced that it has added enhanced offerings to its Cyber Managed Services Practice, as well as growing the number of professionals within it. The enhancements include additional platforms and improved threat analysis capabilities, plus the knowledge of additional specialists in this area. … SaaS and cloud support company Rewind has partnered with consulting firm Woodard. Under the deal, Woodard can now offer Rewind Backups for QuickBooks and QuickBooks online, as well as Backups for MS365. … AI accounting software solutions provider Trullion announced it has integrated Alvarez & Marsal’s automated incremental borrowing rate estimator LeaseSCRE into their platform.

New funding

Ledgible, a cryptocurrency tax reporting and tracking solutions company, said that it has closed on a $20 million Series A Round with key institutional and strategic investors. It plans to use the investment on expanding the teams within their two core lines — professional tax and enterprise accounting. … Cryptio, a back-office platform focused on cryptocurrencies, said it has secured $10 million in a Series A round led by Point Nine, early investors in Chainalysis, Zendesk, and Revolut. … Auxilius, which provides financial management solutions for biotech companies, announced that it has raised $10 million in Series A to help biopharma manage $150 bllion in clinical R&D spend. The investment was led by Renegade Partners, with participation from previous investors Bain Capital Ventures and XYZ Venture Capital, as well as a number of prominent angel investors.

Mergers and partnerships

Accounting and business advisory network PrimeGlobal announced a partnership with Xero to support member firms being data- and technology-ready for the future. The two groups will collaborate to support the sharing of best practices, provide insights regarding th latest trends at conferences and events, and explore opportunities for member firms to shape the future through participation in Xero research. … Online payments firm AffiniPay said it has acquired MyCase, a legal practice management software used by top law firms. … VAR HSO announced it has acquired Canadian firm SHEA Solutions Inc., which offers services related to Microsoft Dynamics 365 Finance, Supply Chain, Project Operations, Commerce and Service.