GruntWorx has partnered with AI-powered platform K1x to integrate the latter’s technology into a new tax data processing product for accounting practices and tax professionals.
Under the agreement, GruntWorx will offer a new solution, GruntWorx K-1 ADVANCED, which is powered by K1x’s patented technology and aims to automate the handling of complex Schedule K-1 documents.
GruntWorx vice-president and general manager Julie Pierce said: “This partnership with K1x allows us to offer our customers a truly innovative solution that addresses their evolving needs.
“We are looking forward to debuting this solution in an upcoming joint seminar with K1x.”
According to the companies, GruntWorx K-1 ADVANCED is intended to streamline extraction, validation and delivery of K-1s, with the objective of cutting back on manual entry and allowing tax professionals to focus on more complex tasks.
The tool is positioned as an end-to-end system for GruntWorx users, extending automation across the K-1 workflow, from initial document intake through to analysis.
The companies say the automation is expected to help reduce errors and free up capacity, creating scope for operators to expand services and manage additional client work.
K1x CRO Ken Powell said: “We are proud to partner with GruntWorx to deliver next-generation automation to accounting professionals
“GruntWorx K-1 ADVANCED, powered by K1x, combines the best of both companies to help firms work smarter, faster and with greater confidence.”
Earlier this month, K1x partnered with Juno to provide tax automation solutions. The partnership adds an integration that automatically moves K‑1 data into the Juno tax platform using K1x’s patented technology.
“GruntWorx, K1x unveil AI-based processing tool for tax professionals” was originally created and published by International Accounting Bulletin, a GlobalData owned brand.
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