In a recent industry survey, 72 percent of tax professionals indicated that the greatest bottleneck in the tax prep process is waiting for clients to deliver documentation.
In response to the profession's need, Copanion developed GruntWorx Gather - an online application that facilitates secure electronic transfer of client tax data from client to tax practitioner.
GruntWorx Gather connects to the top 25 financial institutions and brokerage houses for automatic retrieval of client documents as they become available. Gather allows firms to take source document collection and delivery out of the hands of clients - eliminating the biggest bottleneck to their tax workflow. This puts firms back in the driver's seat and enables practitioners to set the pace for their tax process.
A brief overview of how Gather works:
- Firms direct their clients to a password-protected, individually customized GruntWorx Gather interface where the client can enter the login credentials to their online accounts.
- Clients also can use this interface to upload electronic copies of their source documents.
- GruntWorx Gather automatically retrieves posted 1099 consolidated brokerage statements as they become available and delivers them directly to the firm's GruntWorx account for processing with GruntWorx Populate (formerly GruntWorx Pro) or GruntWorx Organize.
To date, according to the company, there is no other vendor in the profession that offers technology to support retrieval of client source documents and data. This further enhances efficiency of the tax workflow process for firms and enables the practitioner to maintain control of the tax process from beginning to end.