Cordiance Delivers Major Updates to Modios Cloud Platform for Indirect Tax Automation Driving Even Faster Projects and Saving Even More Time and Money

New Version Includes Significant Performance Gains, Multiple New Features, Deep AI and Machine Learning Integration, Leverages Large Language Models and Generative AI, and Adds Support for Enterprise, Professional, and SMB Use Cases.

San Jose, CA – May 1, 2024 - Cordiance, a pioneer in intelligent tax automation technology, today announced major updates to Modios, its software platform for automating tax engine implementation and management. The updates include an expanded feature set and a significant increase in power and real-time processing capability to help users get more productivity from their tax engine while reducing the cost and effort required to implement and maintain it. Modios is now available in three different versions designed for specific customer use cases: Modios Enterprise for internal tax teams, Modios Professional for professional tax consulting firms, and Modios SMB for growing and emerging companies with more straightforward tax requirements like eCommerce.

Tax engines can be difficult and costly to implement and require regular maintenance. Whether they use an internal team or a consulting firm, businesses can spend millions of dollars and thousands of hours every year manually implementing and maintaining their tax engines. Modios leverages Cordiance’s proprietary intelligent automation technology to deliver a better tax engine experience at a fraction of the time and cost. Cordiance estimates Modios users can implement or migrate a tax engine more than three times faster than a manual implementation, and reduce the personnel required for the project by more than 70 percent. These time savings drive significant cost savings.

“Our new version of Modios is a revolutionary step forward in intelligent tax automation technology,” said Mustafa Ashurex, VP of Engineering at Cordiance. “Featuring a new user interface, increased real-time processing capabilities and customizable workflows, this latest Modios release simplifies and accelerates tax engine implementation and maintenance in ways previously unavailable anywhere in the tax engine market.”

Significant new features built into the latest release include:

• An intuitive, engaging and interactive UI supporting new implementations and ongoing tax engine management
• Ability to rapidly migrate from one tax solution to another
• Massive computing power delivers incredible performance acceleration
• Intelligent dashboards that update in real-time
• Ability to manage and maintain a tax engine in real time with key changes immediately resulting in new requirements, design, use cases, configuration, tests and documentation

“The cost and time Modios can save tax engine teams make it a compelling management solution for internal teams and external consultancies. Enterprises can minimize the time and cost needed to run their tax engines, while outside consultancies can serve more customers to increase billings and expand their service offerings to develop new revenue streams,” said Matthew Walsh, VP of Product at Cordiance. “With the introduction of the new versions of Modios, Cordiance has tailored the Modios suite to address the specific usage requirements of internal and external tax teams.”

The three new Modios versions are:

Modios Professional - built by expert implementers for expert implementers to help them consistently deliver more projects at once in less time and with better quality. When an implementer uses Modios Professional, their customers get better outcomes in less time and at lower cost.

Modios Enterprise - built for companies who want to deliver or extend their own implementations, Modios Enterprise is like having the best implementation team permanently on staff. With Modios Enterprise, businesses don’t require an implementation partner and will save a lot of time and money with absolutely no compromise in quality.

Modios SMB - built for growing companies with more straightforward tax requirements like eCommerce. Like Modios Enterprise, it gives users an end-to-end process that enables them to build their own implementations, sized for their market segment and complexity, without the need for an implementation partner.

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CORDIANCE LLC

Cordiance builds advanced technology solutions which are changing the way that tax engines like ONESOURCE, Vertex, and others are implemented. We deliver the fastest, most advanced, and most innovative tax engine implementations in the industry. Our seasoned management team are tax and technology industry veterans known for pioneering and innovation. Cordiance is privately-owned.

For more information, visit: www.cordiance.com, call Jared Rowe at (512) 986-3033, or email [email protected].