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Cornwall holiday lettings 'upstart' aims for £10m turnover

'We saw the niche and we grasped it'

Wolters Kluwer launches GenAI functionality within CCH® AnswerConnect

Business Wire
·3-min read

Highlights:

  • Enhances CCH® AnswerConnect research platform and search experience with Generative AI to improve tax and accounting workflow

  • Introduces "AI Labs" to partner with professionals and gather feedback to ensure solutions align with customer workflow

  • Launched affordable solution for small accounting firms and practitioners that also leverages GenAI

MINNEAPOLIS, May 06, 2024--(BUSINESS WIRE)--Wolters Kluwer Tax & Accounting (TAA), a global leader in professional information, software solutions, and services, today announced AI-enabled enhancements to CCH® AnswerConnect, its flagship tax, accounting, and audit research product. The all-encompassing research platform now leverages GenAI to generate responses within its natural language Q&A function enriching the search experience and enabling accounting professionals to create more value for their clients.

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CCH AnswerConnect and GenAI

The new GenAI enhanced search functionality allows for natural language queries from trusted sources within Wolters Kluwer content and helps customers understand recent tax law changes, prepare tax returns and identify tax planning opportunities. The solution conveniently cross-references the Internal Revenue Code, income tax regulations and administrative guidance delivering timely intelligence. Natural language queries answer the user’s questions in an easy-to-understand format to enable quick comprehension and minimize time analyzing the tax code.

"We're listening to our clients, and we're moving quickly to provide cutting edge solutions that help improve their efficiency and their workflow – ultimately growing their businesses," said Dean Sonderegger, Senior Vice President and General Manager, Canada and Research & Learning of Wolters Kluwer TAA North America. "These innovations are focused on building firm intelligence for tax and accounting professionals so they can make informed decisions around complex issues. We see the new GenAI technology as another powerful tool that we can put to work with our high-quality, continuously updated, proprietary content to bring benefits to customers."

AI Labs

Additionally, CCH® AnswerConnect has introduced "AI Labs", allowing clients to preview beta versions of AI features in development. The AI Labs initiative is an invitation-only program for existing clients leveraging direct feedback and truly partnering on the next generation of AI-enabled products and solutions before they are launched.

Small Firms

Small firms will also benefit from this latest GenAI update with the introduction of the "Ask a Question" feature within CCH® AnswerConnect U.S. Master Tax Guide® Plus. Customers can now ask the platform questions instead of manually searching through the digitized guide.

To learn more about CCH® AnswerConnect, please visit: https://shoptax.wolterskluwer.com/en/cch_answerconnect.

Wolters Kluwer TAA enables tax and accounting professionals and businesses of all sizes to drive productivity, navigate change, and deliver better outcomes.

For more information on the latest in AI, please visit Wolters Kluwer’s corporate AI page or the TAA AI Hub page.

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About Wolters Kluwer

Wolters Kluwer (EURONEXT: WKL) is a global leader in information, software solutions and services for professionals in healthcare; tax and accounting; financial and corporate compliance; legal and regulatory; corporate performance and ESG. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with technology and services.

Wolters Kluwer reported 2023 annual revenues of €5.6 billion. The group serves customers in over 180 countries, maintains operations in over 40 countries, and employs approximately 21,400 people worldwide. The company is headquartered in Alphen aan den Rijn, the Netherlands.

For more information, visit www.wolterskluwer.com, follow us on LinkedIn, Facebook, YouTube and Instagram.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240506811985/en/

Contacts

Shannon Wherry
Associate Director, External Communications
Tax & Accounting
Wolters Kluwer
Office +1 972-209-2767
shannon.wherry@wolterskluwer.com