The acquisition will improve CCH’s capability in providing a holistic software-plus-content solution for Australian and New Zealand accounting firms.
This will enable a better service for clients operating small- to medium-sized enterprises (SMEs), according to CCH.
A CCH survey of 1,000 SMEs showed SMEs trust their accountant more than their financial planner, business partner or lawyer when it comes to external advice.
However, 63 per cent of accountants are too occupied with transactional work to provide SMEs with strategic business advice.
The addition of BPS software solutions to the current CCH software will enable accountants to become trusted advisers for SME clients by equipping them with a single source of authoritative and practical information, software and services.
CCH iFirm cloud software and BPS’ ATO Paper Buster saves accountants around 1,000 hours a year, according to Wolters Kluwer chief executive Asia Pacific Russell Evans.
“SMEs are often cited as the engine room of the Australian economy, but this should be described as ‘successful SMEs',” said Mr Evans.
BPS director Ron Drost said the acquisition demonstrates a strong commitment to investing in Australian intellectual property and builds upon the strengths of both organisations.
“CCH will be retaining all BPS employees, and BPS clients can expect to receive the same high levels of service and attention to detail they have become accustomed to, as well as newly-available software and content solutions that can further improve their efficiency, productivity and profitability,” said Mr Drost.
