Le Lézard
Classified in: Science and technology
Subjects: Product/Service, Award

Wolters Kluwer Xpitax® Scan Optimizer recognized for excellence in Artificial Intelligence

Wolters Kluwer Tax & Accounting (TAA) has received an Artificial Intelligence (AI) Excellence Award from The Business Intelligence Group (BIG) for Xpitax® Scan Optimizer. The AI-powered system, which increases the speed and efficiency of preparing tax returns, was selected in the award program's ?Computer Vision' category, recognizing "organizations, products and people that bring AI to life and apply it to solve real problems."

"Wolters Kluwer continues to leverage the power of AI to streamline tax return preparation, empowering tax professionals with vital new efficiencies that allow them to focus on the high-level work that delivers immediate value to their organizations," said Cathy Rowe, Senior Vice President and Segment Leader, U.S. Professional Market, Wolters Kluwer TAA North America. "My deepest gratitude to BIG for recognizing how our clients are benefiting from the scalable processes and unparalleled accuracy that Xpitax Scan Optimizer provides."

The source documents submitted as part of a tax return are often unstructured, containing low-quality images, handwriting, custom fonts, unusual text orientation, and other potentially problematic data. Once documents are scanned, Xpitax Scan Optimizer's underlying AI model automates the extraction, identification and tagging of the relevant data from each image, comparing the Optical Character Recognition (OCR) results of the data and delivering a package containing a comparison report, error verification, and an import-ready file for the tax return. Users benefit from a more scalable process yielding returns that are more than 90% complete and fully verified for accuracy.

"Artificial intelligence is now playing a more important role in our lives," said Maria Jimenez, Chief Nominations Officer for BIG. "We are so proud that such an incredible group of companies won in this year's program. Congratulations to all the creativity and hard work of every employee involved."

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 about Wolters Kluwer, please visit: www.wolterskluwer.com.

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.

These press releases may also interest you

at 11:26
Wirex Pay, the cutting-edge modular Zero Knowledge (ZK) payment chain incubated by Wirex, is excited to announce its partnership with Gateway.fm to power its upcoming node sale. This collaboration marks a significant milestone in Wirex Pay's journey...

at 11:20
Pudgy Penguins, the brand development company behind the series of globally recognized Pudgy Penguins characters, and next-generation gaming technology studio Mythical Games today announced a partnership to create a unique web3-enabled mobile video...

at 11:20
Liberty Latin America Ltd. ("Liberty Latin America", "LLA", or "Company") announces the publication of its Environment, Social Impact, and Corporate Governance (ESG) report, showcasing the meaningful strides the Company has made in its commitment to...

at 11:20
HTX Ventures, the global investment arm of the cryptocurrency exchange HTX, has officially announced a strategic investment in Figment Capital, an early-stage venture fund focused on blockchain infrastructure. This investment underscores HTX...

at 11:20
MiniTool ShadowMaker, a PC backup & recovery solution and disk cloning software, has been a reliable choice for users who need to safeguard their precious files & folders and clone a hard drive for an upgrade. Now, MiniTool is thrilled to announce...

at 11:18
USA News Group ? The current global food security situation is generating calls for international collaboration and strategies. A recent example titled The Case for U.S.-China Cooperation on Climate-Smart from the Center for Strategic & International...

News published on and distributed by: