Inflo announced today that it has been named a winner of the CPA Practice Advisor Tax & Accounting Technology 2021 Innovation Awards for Inflo Ingest.
In its 18th year, The Innovation Awards honor new technologies that help accounting firms and their business clients operate and collaborate more efficiently and profitably. This can be through improved workflow, enhanced automation capabilities, increased accessibility, or additional efficiencies.
Data is the vital ingredient to transitioning traditional accounting services into the digital era. Obtaining client data is currently very inefficient, error prone, and risks inaccurate conclusions being drawn from unreliable, corrupted or manipulated data. Inflo Ingest, coupled with our on-hand data specialists, blends human intelligence with artificial intelligence and provides accounting firms with the perfect solution.
We are delighted to be announced as one of the CPA Practice Advisor winners for technology innovation for Inflo Ingest. It is fantastic recognition for the Inflo team. I’m proud to see our innovations supporting the digital transformation of the accounting profession while enhancing the skills of accountants and attractiveness of the profession.
With Inflo Ingest, a firm’s client is hand-held through the process of sharing their transactional accounting data directly from their finance system. Inflo then performs automated data transformation and validation checks, with Inflo’s specialist data team on hand to support any challenges which may arise.
Once ingested, consistent and validated transactional data is made available to firms via API in a common data model format – eliminating the innovation challenge of working with many different client accounting systems. The data also feeds into Inflo’s broader Digital Audit platform and data analytics modules. This approach completely removes the re-keying and manual preparation of data, saving significant time and driving automation throughout engagements.