How a US Tax Software Company Saved 1,000 Hours Per Year with Draftable’s API

Thousands of companies worldwide rely on Draftable to ensure that they know exactly what’s changed in their documents. While accuracy is vital for any type of company, it’s even more crucial when that company specialises in digital finance and has a yearly revenue exceeding 6 billion dollars.

Find out how one company ended up saving 1000 hours per year by implementing a single tool – Draftable’s API.

The Company

When it comes to tax filing and precise accounting services, this company is the go-to choice for over 4 million Americans. As a highly trusted tax preparation provider, they are responsible for offering seamless filing experiences to their customers. Compliance is a top priority, meaning they need to know what’s in every document they send out.

Why Use Draftable?

Why would an enterprise such as this choose Draftable? Here are a few reasons:

• Compare in an Instant – Draftable turns a manual checking process, prone to human error, into a simple task that can be done at a glance. With every change highlighted for you, you can now compare documents in an instant.
• Check Many File Types – One of the best things about the Draftable suite of products is that they work on an extensive range of file types. Compare Excel, Word, PDF, and PowerPoint files to stay up to date on any changes. You can even compare different file types – see how a PowerPoint file changed when the text was moved to a Word document!
• Files Remain Secure – When designing the Draftable API, security remained front of mind for our staff. That’s why all data that passes through our cloud services is fully encrypted using the HTTPS protocol. We researched modern cryptographic best practices to ensure our TLS security policy provides customers with peace of mind that their data will remain safe.
  

Why The Business Processes Had To Change

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After hearing about Draftable, this company realised they could fully automate the review process for their documents.

Accuracy is paramount to this company, as they review many documents containing detailed information and data. Every single year, specialists at the company sit down to manually review tax instructions and other tax files. These could be anything from identity theft report templates to tax refund worksheets and every type of tax document in between.

These documents are crucial for the completion of IRS (the US Internal Revenue Service) forms. However, many of these forms are updated each year, meaning that year on year, they arrive in different formats, and the information on them constantly changes. As the US has a comprehensive set of filing regulations, the company’s strength lies in being able to ensure compliance for its clients.

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As a result, the accounting team would have to manually go through and check each form was accurate before completing cross-checks with other documents to ensure everything matched.

This meant that staff were spending thousands upon thousands of hours checking the forms, a manual process where it’s easy to miss a small mistake or difference between documents.

With a range of file formats and types of documents in use, the company assumed that there was no way the process could be automated for such a specific use case.

That was, until they got in touch with Draftable. Luckily, our comprehensive API was ready to lend them a helping hand with document checking.

“Draftable’s developers did a great job making the API easy to integrate and use. Testing and setup were super easy on our end.” – The Client

What Draftable Offered

The company ultimately decided to try out Draftable’s API solution. They integrated this tool with their current internal document review software to create a simple automated workflow.

Now, the staff could upload their files in bulk and share tax documents and comparisons with each other directly from the tool. This has simplified the process they go through each year as they update files and complete compliance checks.

Today, they can enjoy viewing easy to read document comparisons in an intuitive interface. Seeing the files side by side with edits highlighted has transformed the review process from a fully manual one to a much easier task.

The Outcome

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Since implementing the Draftable document comparison API, the tax reviewers at the company have reduced the number of errors on the 60,000+ files they process each year. They figured out that they are saving roughly 1 minute on each document review, adding up to 1000 hours saved on every single tax cycle!

Because of the API’s seamless integration with their current systems, accountants will no longer miss an update to a file, helping the company offer even more assurance to their clients that their tax filings are accurate.

By being able to compare an updated tax form or law with the previous version, the reviewers can now see what’s changed instantly, allowing them to adapt faster to any changes. That way, they can prepare in advance for the following tax season and ensure their processes will run smoothly with the changes.

Draftable API

This is just one example of how the Draftable API can be adapted to suit a specific use case. No business is too large or too complicated to benefit from the service Draftable offers. If you’re interested in learning more about how the API can be integrated with your current systems, get in touch with us today!  Read the full case study here.