PRESS RELEASE
Drake Software Acquires Copanion’s Gruntworx Family of Products
Acquisition accelerates Drake’s calculated move into the SaaS space
Drake Software, a leading tax preparation software vendor, has acquired the Copanion GruntWorx product
line—the profession’s most advanced SaaS-based paperless tax workflow system. Acquiring
GruntWorx firmly positions Drake within the cloud technology space and further augments
its current product offerings.
“This is an important move for Drake,” stated John Sapp, Vice President of Strategic
Development at Drake Software. “GruntWorx allows us to rapidly expand our offerings
into the cutting-edge document automation technology arena. This enables us to provide
tax professionals with a true end-to-end paperless tax solution and deliver extremely
high accuracy rates.”
Copanion’s GruntWorx product family offers advanced scan, organize, and populate
paperless tax workflow technology for the accounting profession. The solution automatically
identifies, organizes, and labels scanned tax forms into a single bookmarked PDF
file. Data from the PDF can be seamlessly imported into tax preparation software
for automatic population of the tax return. Scanned data can also be ported to a
spreadsheet.
“With an established and long-standing reputation for providing superior products
and customer service, expanding into the SaaS space was a logical next step for
Drake,” said Ed Jennings, CEO of Copanion. “This is also good news for current and
future GruntWorx clients. With 35 years serving the profession, Drake offers the
assurance of ongoing product quality—committed to consistently enhancing the GruntWorx
line.”
Drake will continue to serve Copanion customers with the solutions they value, while
simultaneously rolling out the GruntWorx line to Drake customers and the broad profession.
The advanced features and functionality of the GruntWorx products will continue
uninterrupted, including integration with the leading tax software applications
in use by professionals today.
About Drake Software
For 34 years, Drake Software has been committed to providing tax professionals the
tools they need to build their businesses and attract new clients. Drake maintains
a steady focus on value, consistent excellence in federal and state programming,
and free electronic filing. In addition to tax preparation software, Drake offers
real-time web reporting, preparer websites, free online tax research, free bank
product software, and free state software for all states.
About Copanion
Copanion is the leader in paperless tax workflow technology—providing a comprehensive
and integrated family of web-based products that automate client tax document retrieval,
organization, data entry, and review. The GruntWorx family of products has been
in use for multiple tax seasons by thousands of accounting professionals—from sole
practitioners to those working in large regional firms and the Big 4. GruntWorx
is the product of choice for tax professionals—with more than 4 million processed
tax forms this past tax season. To date, Copanion products have earned multiple
accolades, including back-to-back Technology Innovation Awards (2008 & 2009) and
a Readers’ Choice Award from
The CPA Technology Advisor,
Accounting Today’s Top 100 Ones to Watch, and a K2 Annual Quality Award.
For more information, visit
Copanion.com.