Tech News: Data transformation and automation capacities added to Bloomberg Tax Provision

Bloomberg Tax Provision adds data and automation options

Bloomberg Tax and Accounting announced new data transformation and automation options in Bloomberg Tax Provision. The new data transformation tool automates trial balance uploads to Bloomberg Tax Provision. Customers can now blend trial balance and non-trial balance data to compute book-to-tax adjustments on Schedule M, reconcile tax payable accounts, compute journal entries and more. Customized workflows can be reused period-over-period.

Lockstep releases self-service portal

Lockstep, a provider of accounting automation software, launched Lockstep Self-Service, allowing companies to accept payments online from customers using Stripe, PayPal or the merchant processor of their choice. The application is part of the Lockstep Suite. Companies can give customers online access by sending an email containing a Lockstep Self-Service link. Once customers use the link, they can see their statement, individual invoices and past history, and make payments. There are options to pay multiple invoices or partial amounts. Once paid, the payment information is tracked and applied against the open balances of the invoices to automate the recording of payments. Lockstep Self-Service also provides tools for accounting departments to track adoption of online payments with analytics.

OneStream offers Solution Exchange

Corporate performance management solutions provider OneStream debuted its OneStream Solution Exchange. The Solution Exchange includes three portals: the existing MarketPlace plus the new PartnerPlace and OpenPlace.

MarketPlace delivers solutions such as Sensible ML for demand planning. The PartnerPlace portal will provide value-added solutions developed, maintained and supported by OneStream's partner community, including AMCO's Lease Accounting solution; Black Diamond Advisory's OneStream Utility Bundle, Finit's DrillIt, AllocateIt and ToolkIt; Spaulding Ridge's Dynamic Cash Flow; and Strategic IQ's Automotive Planning Factory.

OpenPlace solutions are community-shared solutions and capabilities that may be provided by all members. These solutions may be supplemented by a moderated forum on OneStream's OneCommunity user site. Initial solutions include OneStream CPM Blueprint, which provides a best practices framework that incorporates design patterns to address common requirements derived from hundreds of customer deployments; and OneStream ESG Blueprint, which provides organizations with predefined calculations for Scope 1 and Scope 2 greenhouse gas emissions and configuration of ESG-specific reporting and planning capabilities through the OneStream platform.

Avalara Crush returns to in-person, expands to eight cities

Cloud-based tax compliance solutions provider Avalara announced that its annual technology event, Avalara Crush, is returning in-person this year, and will be taking place in eight different cities. The company is planning to hold a series of one-day regional events across the U.S. and U.K. The first Avalara Crush Regional event took place on March 21, in Denver, and is occurring in Houston on April 20. Further dates and locations include Atlanta (May 23), Boston (June 2), London (June 27), Chicago (Aug. 15), San Diego (Sept. 21), and San Jose during October.

Banking platform Lili adds accounting capabilities

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Lili, an online banking platform, added accounting software to its product, offering both banking and accounting services. By integrating both processes on the same platform, Lili said the majority of the reconciliation process can be done as paychecks, invoices and payments are identified in real time. The new product, Lili Smart, can generate profit and loss statements, cash flow statements, expense reports and invoices for small business owners. Users can manage outstanding invoices, reconcile payments and track past-due invoices.

Airbase adds Guided Procurement

Airbase, a spend management solution provider, introduced its Guided Procurement solution, which automates the intake process for purchasing. The product offers a no-code, customizable workflow that directs any employee who wants to make a purchase to capture all the necessary information and documentation. It routes purchase details to appropriate stakeholders and secures the required approvals for transactions.

Other news

The Expensify member lounge

Trullion, which provides corporate accounting software, announced the completion of $30 million in financing to accelerate its growth and expand its product offerings. The financing includes $15 million from its initial Series A round led by Third Point Ventures, and an additional $15 million, led by Stepstone Group, with full participation from existing investors Aleph, Third Point Ventures and Greycroft. Trullion plans to use the new funding to accelerate the growth of its artificial intelligence-based applications, and to develop two new modules supporting audit and revenue recognition. … CN, a Canadian transportation and railway company, released a tool that helps business owners keep track of their carbon emissions. The new tool, available on the CN One eBusiness platform, provides customers with a detailed report on their estimated greenhouse gas emissions based on all their loaded shipments moved on CN, as well as the emissions avoided by choosing rail over truck. … Payments software provider Bill announced Ken Moss has joined the company as chief technology officer. Moss reports directly to CEO and founder René Lacerte and succeeds Vinay Pai, who is retiring as CTO after five years with the company. Most recently Moss was CTO for eight years at video game company Electronic Arts. … AirBase, a spend management solution provider, announced the hiring of vice president of sales J.R. Robertson. He joins the company from Coupa. … OnlineCheckWriter.com, a payments platform, has integrated with the Wave Accounting platform. This integration allows users to import invoices and payees directly into OnlineCheckWriter.com from Wave Accounting. In addition, the platform offers various services, such as ACH or direct deposit payments, wire transfers, RTP, pay by credit card, payroll funding with a credit card, international payments, and more. … Expensify, a payment solutions provider, has transformed its San Francisco office into a premium lounge open to all Expensify members and their guests, with an anticipated opening on Monday, April 24. The Expensify Lounge includes perks such as faster Wi-Fi, private meeting rooms, snacks and a selection of craft coffee, tea and specialty cocktails. The entire experience — from ordering a drink to recommending a hotel or booking a flight — is handled through Expensify's in-house, chat-based Concierge service. ... Xero, a platform for small businesses, announced Dave Lee has been appointed as the new CEO of Planday by Xero, effective 1 May 2023, following a recruitment search. Lee joins Planday from Nordic-focused fintech platform Lunar, where he was Chief Product Officer responsible for building and leading Product and Experience Design for the company's more than 500,000 users. Prior to Lunar, Lee was SVP Product Development & Customer Experience at IKEA in London and Sweden, and Product Director at Spotify in Sweden.

Tech News: Bloomberg Tax Provision gets new features