Thomson Reuters Wins Technology Innovation Award For Staff Management Module

Module for Practice CS® redefines firm workforce management, utilization and performance

The Tax & Accounting business of Thomson Reuters announced today that the Staff Management Module within its widely used practice management application—Practice CS—was honored Monday, June 7, 2010 by CPA Technology Advisor with its annual Technology Innovation Award.

“We were the first to introduce a staff management tool, filling an unmet need in the accounting firm market for an efficient way to manage professionals,” said Matt Jagst, Product Manager for Practice CS at the Tax & Accounting business of Thomson Reuters. “Practice CS features the full range of practice management functionality, including staff, project, and client management. And the Staff Management module advances our software suite even further in front of the competition.”

This is the sixth Technology Innovation Award Thomson Reuters has earned since CPA Technology Advisor’s award program began in 2004, when the NetClient CS portal product was honored. “This most recent recognition is the second Technology Innovation Award for Practice CS, and underscores our commitment to enhancing the productivity and profitability of practicing accountants through advanced and innovative technologies,” Jagst added.

The Staff Management Module, released as a new module for Practice CS in 2009, represents a major enhancement to Practice CS. It enables firms of all sizes, regardless of number of employees, to become more efficient and optimize current and future staff performance. With the module, users can quickly and easily manage and track staff benefits, staff budgeting and targets, and staff scheduling with total control. Users can track comp time, accruable benefits, and holidays for staff, set target work hours and billable amounts for each staff member, schedule staff for various projects, and provide real-time schedules, and more.

The Staff Management Module is a part of the comprehensive and powerful Practice CS total practice management solution—offering a unique big-picture perspective that provides valuable business insight, guarantees unprecedented client service, and ensures that firms operate at peak productivity. With its digital dashboard approach, Practice CS provides real-time status information from the staff, client, and firm perspective. Integrated with the CS Professional Suite®, data in other programs is automatically captured as work progresses and is updated in Practice CS—offering an ongoing, real-time, and completely integrated workflow process. The Project Management Module for Practice CS also won an Innovation Award in 2007.

The CPA Technology Advisor Innovation Awards were created to recognize significant advancements and innovative developments in software, services, hardware, and other applications, as well as advancements to existing technologies that are marketed to the tax and accounting profession. The Innovation Awards were announced at a reception in Los Angeles at the 2010 California Accounting and Business Show & Conference.

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About Thomson Reuters

Thomson Reuters is the world’s leading source of intelligent information for businesses and professionals. We combine industry expertise with innovative technology to deliver critical information to leading decision makers in the financial, legal, tax and accounting, healthcare and science and media markets, powered by the world’s most trusted news organization. With headquarters in New York and major operations in London and Eagan, Minnesota, Thomson Reuters employs more than 50,000 people and operates in more than100 countries. For more information, go to www.thomsonreuters.com.

The Tax & Accounting business of Thomson Reuters is the leading provider of technology and information solutions, as well as integrated tax compliance software and services to accounting, tax and corporate finance professionals in accounting firms, corporations, law firms and government. Headquartered in New York, Tax & Accounting has major operations in Dallas, Ann Arbor (Michigan), London, Sydney, and Toronto, and offices in nine countries. For more information, go to http://thomsonreuters.com/products_services/taxacct/.