Leading Expense Management Platform a Key Component of Client Accounting Services

LAS VEGAS (Dec. 5, 2016) – CPA.com is adding Expensify, an innovative leader in expense management software, to its roster of automated solutions for CPA firms.

Technology is changing the way companies – and the CPA firms that serve them – conduct business. CPA.com has helped CPAs with this transformation through business strategy, education, change management and a lineup of curated solutions for firms, but many pain points remain, including outdated methods of approving client receipts and travel expenses.

Expensify is the fastest growing company in the expense management category, and has won acclaim for the ease and functionality of its user experience. It integrates with all major accounting software applications, including Intacct, another member of CPA.com’s partner program for firm solutions.

“Expensify clients report that using Expensify can reduce time spent on receipt submissions, approvals and reimbursements by 83 percent, which is exactly the kind of pre-accounting automation that can drive real efficiency for firms and their clients,” said Erik Asgeirsson, president and CEO of CPA.com, who announced the new strategic alliance at the 2016 Digital CPA Conference. “As client accounting services mature, the importance of digitizing all inputs and outputs and getting maximum insight from data will continue to grow.”

Expensify allows CPA firms to manage client expenses and reconcile corporate credit cards in a single console using real-time, continuously updated information. Clients also benefit from Expensify’s easy-to-use mobile app with industry-leading features:

• Expensify's SmartScan OCR technology scans receipts, automatically extracts transaction data and assigns each expense to a reporting category
• Data automatically syncs with all major accounting programs
• Corporate card reconciliation automatically imports the credit card feed and merges each transaction with the corresponding receipt while flagging duplicate expenses
• Next-day direct deposit makes it easy to reimburse employees
• Unique company policies automatically analyze which expenses actually need a manager’s review, and automatically approve the rest

“CPA.com has been a key driver in the reemergence of client accounting services for firms, and we’re thrilled to partner with CPA.com to bring expense management and receipt tracking technology to a wider audience of CPAs,” said David Barrett, founder and CEO of Expensify. “We already partner with many of the nation’s largest accounting firms, many of whom are drawn to the value of being able to analyze and manage a client’s expenses in real-time. With this partnership, we are committed to CPA firms as they expand their role of the trusted advisor to include expense management for their clients.”

About CPA.com

CPA.com offers a growing list of products and services for practice management, client advisory services and professional development. The company has established itself as a thought leader on cloud technology and has been a driving force around the reemergence of virtual CFO/controller services by firms.

The RIVIO Clearinghouse, a joint venture between CPA.com and Confirmation.com, is an online financial document clearinghouse that enables private businesses to exchange key financial information with lenders and investors.

CPA.com is a majority-owned subsidiary of the American Institute of CPAs, the world’s largest member body representing the accounting profession. For more information, visit CPA.com.

About Expensify

Founded in 2008, Expensify has quickly become the innovation leader in automated receipt and expense management with an easy-to-use mobile and web app. With entirely automated expense reporting processes and features such as patented SmartScan technology, company card management, and integrations with all major accounting software, Expensify has quickly grown to serve over 100,000 companies globally. Headquartered in San Francisco, Expensify recently opened offices in London and Melbourne to continue better serving customers in all time zones.

Innovative Tool Determines Which Products Are Subject to Sales and Use Tax

NEW YORK (Nov. 22, 2016) – CPA.com and Vertex SMB today announced the launch of a new product taxability tool that allows CPA firms to advise clients on which products are subject to sales and use tax.

An increasing number of small to midsize companies are expanding into online sales, and they need a trusted business advisor to help navigate complex and changing regulations in the more than 11,000 taxing jurisdictions within the United States. It’s not enough to determine if a company has a sufficiently sizable business presence in a state to be subject to sales tax, or what’s known as “nexus.” Clients also need advice on which specific products or services they sell that might incur taxes.

“If a CPA has a client with sales in 20 states, researching the applicable tax laws and how they apply product by product can be time-consuming and costly,” said Michael Cerami, CPA.com’s vice president of business development and corporate alliances. “We’ve automated this function as part of the Firm Advisory Program we’re offering through CPA.com and Vertex SMB. The offering is a key piece of a comprehensive solution that allows firms to track client activity through dashboards and reports, and to keep on track with regulatory updates and thought leadership.”

For initial setup of the taxability tool, practitioners review their client’s products and select specific taxability codes for each item within the Vertex SMB solution. The CPA firm can then run monthly reports to flag any new or changed regulations so the company remains compliant and up-to-date on tax remittances. This enables the CPA firm to add value for their clients by providing advisory services in the area of product taxability.

“We tracked more than 600 new or significant changes in sales and use tax regulations last year, so the ability for CPAs to provide timely updates on compliance-related matters is extremely valuable,” said Chris Livingston, director of product and operations at Vertex SMB. “We think it is an essential tool for practitioners looking to build advisory services in this space.”

CPA.com and Vertex SMB are offering a free webinar about sales and use tax compliance and product taxability, “Automated Sales and Use Taxability Reports for the Win,” at 2 p.m. EST on Nov. 30.

Besides the Firm Advisory Program, CPA.com and Vertex SMB also offer a referral program for CPA firms who want to assist clients with sales and use tax compliance but don’t want to build out an advisory practice. To learn more, visit www.cpa.com/salestax.

About CPA.com

CPA.com offers a growing list of products and services for practice management, client advisory services and professional development. The company has established itself as a thought leader on cloud technology and has been a driving force around the reemergence of virtual CFO/controller services by firms.

The RIVIO Clearinghouse, a joint venture between CPA.com and Confirmation.com, is an online financial document clearinghouse that enables private businesses to exchange key financial information with lenders and investors.

CPA.com is a majority-owned subsidiary of the American Institute of CPAs, the world’s largest member body representing the accounting profession. For more information, visit CPA.com.

About Vertex Inc.

Founded in 1978, Vertex Inc. is the leading provider of corporate tax software and services for companies of all sizes, from small to medium-sized businesses to global multinationals.

Vertex solutions enable companies to realize the full strategic potential of the corporate tax function. The company offers a variety of products and services that allow businesses to automate, integrate, and streamline their corporate tax processes. Vertex provides solutions in every major line of tax including income, sales and consumer use, value added, and payroll. Vertex also offers tailored solutions for specific industries including retail, communications, hospitality, and leasing.

Vertex SMB, a division of Vertex Inc., helps automate sales and use tax compliance for small to medium-sized businesses. By enabling calculations and returns in a cloud-based solution and offering flexible service levels and featuring attractive pay-as-you-go pricing, Vertex SMB meets the sales and use tax automation needs of growing businesses.

Known for its innovative culture, Vertex is a privately held company that employs 900 professionals across the globe, at its headquarters in the U.S. (Berwyn, Pa.) and offices in Europe (London), Brazil (São Paulo), Dallas, Fort Collins, Naperville, Phoenix, San Francisco, Sarasota, and Seattle. For more information about Vertex Inc., visit www.vertexinc.com. For more information about Vertex SMB, visit www.vertexSMB.com.

Financial Information Exchange Developed by CPA.com and Confirmation.com Honored for Innovation

NEW YORK (Nov. 18, 2016) – RIVIO Clearinghouse, a secure document exchange for private company financial information, has been honored with Accountex’s 2016 Blue Ocean App Award, which recognizes innovation in the accounting software marketplace for small to medium-size businesses.

The award was presented today in Las Vegas at Accountex USA, the largest independent accounting technology conference and expo in the United States. It is one of four Meridian in Technology Awards that Accountex oversees in partnership with AccountingWEB, a leading online community and news site for CPAs.

“The Blue Ocean App is an important designation, as it represents innovation in the marketplace,” said R.D. Whitney, group vice president of Diversified Communications, the parent company of Accountex. “The (RIVIO) solution steps outside standard market boundaries to answer a problem that had previously not been addressed for not only CPA firms and their clients, but for financial institutions as well.”

Jointly developed by CPA.com and Confirmation.com, RIVIO is an online platform that securely controls the flow of financial documents between private companies, CPA firms and lenders and investors. It helps prevent fraud and provides more sophisticated controls than existing delivery methods.

“This is the third major accounting technology award RIVIO has won this year, so we’re seeing a consensus of expert opinion form about the advantages of this innovative platform,” said Erik Asgeirsson, president and CEO of CPA.com.

The clearinghouse previously was recognized with a CPA Practice Advisor 2016 Tax & Accounting Technology Innovation Award and an Accounting Today 2016 Top New Product designation.

“We’re proud to be recognized with this award and look forward to working with CPA firms, private equity firms, financial institutions and other key stakeholders who can benefit from RIVIO,” said Brian Fox, CPA, founder and president of Confirmation.com.

For more information about the clearinghouse, visit RIVIO.com.

About CPA.com

CPA.com offers a growing list of products and services for practice management, client advisory services and professional development. The company has established itself as a thought leader on cloud technology and has been a driving force around the reemergence of virtual CFO/Controller services by firms.

The RIVIO Clearinghouse, a joint venture between CPA.com and Confirmation.com, is an online financial document clearinghouse that enables private businesses to exchange key financial information with lenders and investors.

CPA.com is a subsidiary of the American Institute of CPAs, the world’s largest member body representing the accounting profession. For more information, visit CPA.com.

About Confirmation.com

Confirmation.com is the world's leading provider of secure online audit confirmations. Today, 13,000 audit firms confirm over $1 trillion annually for 700,000 clients worldwide. Confirmation.com is used in over 125 countries by banks, companies, and law firms to respond to audit confirmation requests. For more information, visit Confirmation.com.

Position Paper Discusses Demand from Lenders and Investors for Authenticated Data Sources

ORLANDO, Fla. (Oct. 24, 2016) – CPA.com today released a position paper, “Addressing the Need for a Private Company Clearinghouse,” that makes the case for the secure digital distribution of private company financial information.

“Reliable financial information is one of the foundations of capital markets,” the document states. “Emerging trends and market demands suggest the current process in the United States of exchanging private company financial information between CPA firms, clients, banks and investors is not working and needs to be dramatically improved.”

Among other findings, the report:

• Discusses current practice for distributing financial statements and other critical financial data for private companies, which can lead to increased risk of fraud and error
• Examines the digital transformation of financial services, which has led to a growing demand for readily available, authenticated sources of data
• Identifies components of a private company clearinghouse that are required to make it effective

“We created this position paper to shine a light on the growing market problem related to private company financial information exchange.” said Erik Asgeirsson, president and CEO of CPA.com. “In addition, we identified the key capabilities needed in a private company clearinghouse based on extensive discussions with firms, lenders, and investors over the past two years.”

CPA.com and Confirmation.com have jointly developed RIVIO Clearinghouse, a secure, online financial document exchange that meets the requirements outlined in the report. RIVIO was launched this past May, and has been recognized as an Accounting Today 2016 Top New Product and winner of a CPA Practice Advisor 2016 Tax & Accounting Innovation Award.

The position paper was released at the fall meeting of the AICPA governing Council, where Asgeirsson led a panel discussion on RIVIO. The report was developed with feedback from firms, investors, lenders and private businesses, as well as several AICPA technical committees.

More information about RIVIO Clearinghouse can be found at RIVIO.com

About CPA.com

CPA.com empowers CPAs and businesses for the digital age. The company offers a growing list of digital products and services that help firms succeed in practice management, client advisory services and professional development.

CPA.com is a subsidiary of the American Institute of CPAs, the world's largest member organization representing the accounting profession, and operates such leading websites as the AICPA Store, AICPA.org and IFRS.com.

The company has its headquarters in New York City and offices in Silicon Valley, Calif., Dexter, Mich., and Durham, N.C. For more information, visit CPA.com.

Co-workers Developed a Tool to Manage Collateral for Marketing, Sales and Business Development

NEW YORK (Sept. X, 2016) – Caitlin Lacher and Rachael Higginbotham, two marketing team members with the Louisiana-based accounting and business advisory firm Postlethwaite & Netterville, are co-winners of CPA.com’s Innovative Practitioners 2016 Award, which recognizes innovations in process, services or technology implementation in public accounting firms.

Lacher and Higginbotham were the guiding forces behind Pounce, a business development tool for professional services firms that launched this summer. The platform allows CPA firms to manage and match staff resumes, as well as industry experience, service expertise and other firm-related materials, so marketing and sales teams can quickly and effectively respond to new business opportunities.

“Rachael and Caitlin had an innovative idea for a tool that could manage our professional bios and sales materials ensuring that materials are accurate, consistent and available 24/7,” said Bill Balhoff, CPA, CFF, CGMA, managing director and CEO of Postlethwaite & Netterville. “They led the development of Pounce, which is an easy-to-use, web-based system designed not only for our firm, but also for all professional services firms.”

Lacher and Higginbotham will be recognized as winners of the award at the 2016 Digital CPA Conference, which will be held Dec. 5-7, 2016, in Las Vegas. Both women have been invited as guests to the event.

“We’re seeing a lot of excitement and energy from the Digital CPA community as more firms embrace technology and a range of practice management innovations,” said Erik Asgeirsson, president and CEO of CPA.com. “Our Innovative Practitioner Award is designed to give a human face to the best practices and breakthrough tools many firms are developing.”

Besides the two winners, three other nominees were recognized for their innovative work. They are:

Runner up

• Charles Postal of Santos, Postal & Co., Rockville, Md., An early advocate of the paperless office, Charles has been at the forefront of technological innovation as managing partner. Under his watch, the firm adopted Yammer.com, Slack.com and OfficeVibe.com, among other services, to provide greater transparency and communication among staff.

Honorable Mention (tie)

• Kathy Ryan of RoseRyan, Newark, Calif. Kathy helped develop her firm’s own in-house application -- the RoseRyan Dream Team System – to automate key processes, such as time tracking, recruiting, revenue forecasting and the like.
• Dixie McCurley of Trusted CFO Solutions, Atlanta. Dixie helps lead CPA.com workshops on client accounting services in the cloud, but also walks the walk with her firm, developing customized accounting models for clients that deliver powerful data analytics for business decision-making.

To read more about these practitioners, please visit the award page. More information about the Digital CPA Conference can be found at DigitalCPA.com.

About CPA.com

CPA.com empowers CPAs and businesses for the digital age. The company offers a growing list of digital products and services that help firms succeed in practice management, client advisory services and professional development.

CPA.com is a subsidiary of the American Institute of CPAs, the world's largest member organization representing the accounting profession, and operates such leading websites as the AICPA Store, AICPA.org and IFRS.com.

The company has its headquarters in New York City and offices in Silicon Valley, Calif., Dexter, Mich., and Durham, N.C. For more information, visit CPA.com.