Tech News: New Forvis tool allows for New Markets Tax Credit forecasting.

Tech News: Forvis launches tax credit forecasting tool

October 7, 2022 8:50 AM

Forvis releases a New Markets Tax Credit forecasting tool; IRIS launches an Employee Self Service module for payroll; Replicon releases an automated time tracking solution; Sovos creates a partner network; and other news from the accounting technology world.

Forvis tool allows for tax credit forecasting

Courtesy of Forvis

Top 25 Firm Forvis announced the release of its New Markets Tax Credit Forecasting Tool, intended to navigate the federal NMTC program, which helps economically distressed communities attract private capital investment by providing investors with a federal tax credit. NMTC transactions require a transaction model that documents how the deal impacts each participant, something that can take significant time as these models are often spreadsheet-based and require manual entry and review. Forvis said the new tool can generate the compiled transaction model in real time.

New Employee Self Service module for Payroll Relief

Iris Software Group announced the release of a new Employee Self Service module for its Payroll Relief software. Employees using this system will be able to access, enter and update their individual payroll profiles, modify personal information 24/7, and view and join training sessions required by their employer. The solution was designed to help ease the employee onboarding process while maintaining compliance through centralized employee training management. The new module is available to all new and existing Payroll Relief users as an add-on to their existing services.

Replicon releases automated time tracking

Replicon, which offers timesheet and tracking solutions, announced the release of its ZeroTime product, which uses machine learning and artificial intelligence to automate the time tracking process. Features include the ability to:

Automatically collect employee time data from collaboration and productivity tools by Microsoft, Google, Zoom, Jira, Slack, Asana, Adobe and others;
Assemble pre-filled timesheets that employees can review and submit;
Custom-reconstruct employees' work week across multiple projects for accurate project costing;
Accurately capture 100% of your employees' work time across projects for accurate billing and payroll management;
Gain granular, real-time visibility into their current projects for better resource management; and,
Leverage accurate time data to confidently forecast resource capacity to undertake new projects and optimize project bidding.

The software was developed in response to the widespread adoption of hybrid work, which Replicon said has deepened the need for ways to automate the time capture process.

Sovos launches global partner program

Tax software provider Sovos has launched its Sovos Partner Network. Participants have access to Sovos' complete portfolio of compliance solutions, along with its regulatory and tax expertise. The Sovos Partner Network was built to align to its partners' business models, whether they resell, co-sell, implement or embed Sovos solutions. The modern program includes an array of different tools, training and a self-service partner portal. (See

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Quadient launches SaaS invoice processing

Picasa/Colinda McKie - stock.adobe.com

Customer experience solutions provider Quadient announced the release of Quadient Impress Invoice, a software-as-a-service solution that automates the preparation and delivery of invoices. Specifically, the new software enables users to automate and deliver invoices through customers' preferred channels, such as email, government e-invoicing platforms, secure web portals and physical mail; to facilitate electronic payment through the platform, so customers can pay online; to monitor and track delivery and payment status in one dashboard; and to archive invoices according to local regulations for a full and compliant audit trail. Impress Invoice is available in the U.S. and U.K. and will launch in France, Germany and other European countries by the end of the year.

Kantata partners with Sage

Kantata, which provides professional services solutions, said it has partnered with Sage to launch a new professional services automation and financial management platform purpose-built for professional services organizations, Kantata Cloud for Professional Services. It acts as a resource management, financial management, project management, team collaboration, business intelligence, integration and workflow automation solution, which allows for integration with Sage Intacct cloud accounting and financial management solutions. The software pulls Kantata's real-time project data into Sage Intacct and pushes Sage Intacct's payment and purchase order information into Kantata. This allows users to generate revenue forecasts; view resource supply and demand in interactive views that allow drag-and-drop fulfillment of demand; improve communication between project delivery teams, accounting, and clients; eliminate manual data entry processes; and supply finance teams with visibility into when projects are created and invoices are paid.

M&A activity

Catalis, a software-as-a-service and integrated payments provider that focuses on governments, announced the acquisition of South Carolina-based CSRA Computer Services Inc., which provides tax management software. This acquisition enables the company to service four of the top 10 most populated countries in South Carolina, making it the largest tax software provider in the state. … Tax technology firms MK Strategies and Bruno Solutions announced that they have merged into one company, KMMH Systems, which focuses on providing expert assistance in designing, developing, and implementing tax automation solutions. The new organization's custom tax software integrations automate sales and use, lease, VAT, telecommunications, and payroll tax. KMMH currently supports Vertex, Avalara, Wolters Kluwer, and Thomson Reuters tax applications, and combinations thereof. KMMH supports Microsoft D365, Oracle Financials, JD Edwards, JD Edwards World, QAD, SAP, Ariba, legacy systems, and even home-grown applications. … Tax solutions provider Sovos announced the acquisition of Lima, Peru-based Escontech, a SaaS electronic invoicing and validation services for the issuance of electronic receipts. The purchase is part of Sovos' overall push focused on the integration of transactional solutions in information technology.

Other news

Blockchain-enabled B2B payments solutions provider Paystand said it has deepened its integration with Sage Intaact. Now, in addition to being able to create embedded payment options, streamline cash flow with automatic reconciliation of bank transfer data, and automate critical functions like cash application, Paystand's latest upgrades allows for multi-entity merchant support; automated collections; the ability to send consolidated payment requests with multiple invoices; capturing payment methods as reusable tokens and take payment with customers on the go; set autopay options; and letting all merchants to accept and settle payments in Canadian Dollar currency.