Company: Bloomberg Tax & Accounting
Company Description: Bloomberg Tax & Accounting provides practitioner-driven research and technology solutions that deliver timely, strategic insights to enable smarter decisions. With technology designed to streamline the most complex planning and compliance scenarios, we deliver news, analysis, practical perspectives, and software that help tax & accounting professionals mitigate risk and maximize business results.
Nomination Category: Achievement Categories
Nomination Sub Category: Achievement in Technology Innovation
 Nomination Title: Lisa Fitzpatrick: Achievement in Technology Innovation
- Which will you submit for your nomination in this category, a video of up to five (5) minutes, explaining the nominated achievements since July 1 of 2022, OR written answers to the questions? (Choose one):
Written answers to the questions
- If you are submitting a video of up to five (5) minutes in length, provide the URL of the video here, OR attach it to your entry via the "Add Attachments, Videos, or Links to This Entry" link above, through which you may also upload a copy of your video. If you are submitting written answers to the questions, provide them in the appropriate spaces below:
- Briefly describe the nominated organization: history and past performance (up to 200 words):
Total 197 words used.
Since its inception, Bloomberg Tax & Accounting has been at the forefront of delivering innovative solutions tailored for tax professionals. Under the leadership of President Lisa Fitzpatrick, the organization has become a comprehensive source for tax research intelligence and tools that multinationals and advisors leverage to navigate changes tax laws and regulations. She has placed a focus on leveraging cutting-edge technologies to deliver the company’s valuable tax data and insights to the point of application within software solutions that make processes more efficient and accurate.
Under Lisa's direction, Bloomberg Tax & Accounting has introduced groundbreaking technologies that modernize tax practices to meet both current and future needs of tax professionals. These innovations include advanced AI capabilities that streamline data management and analysis, making complex tax information more accessible and actionable for users. The development and implementation of these technologies reflect Lisa's vision to automate and streamline processes to help tax professionals deliver more value to their organizations and clients.
Lisa’s leadership and strategic focus on technology innovation have been instrumental in maintaining Bloomberg Tax & Accounting's reputation as a leader in the field, continually advancing the company's mission to deliver exceptional value and service to its customers.
- Outline the organization's achievements since the beginning of last year that you wish to bring to the judges' attention (up to 250 words):
Total 227 words used.
Since the beginning of last year, Bloomberg Tax & Accounting has made significant strides in revolutionizing the tax workpapers process for tax professionals. Under the leadership of Lisa Fitzpatrick, the organization launched Bloomberg Tax Workpapers in March 2024, a cloud-based solution designed to address the complexities and manual challenges inherent in tax preparation and compliance.
This innovative product combines data preparation, spreadsheet functionality, robust controls, and integrated tax guidance, specifically tailored to meet the needs of tax professionals. By automating critical aspects of the tax workpapers process, such as cleansing trial balances, conducting M-1 flux analysis, and facilitating period-over-period roll forwards, Bloomberg Tax Workpapers significantly reduces the time and effort required to produce accurate and compliant tax calculations and documents.
The solution also integrates seamlessly with other Bloomberg Tax software, including Research, Fixed Assets, and Provision, creating a comprehensive ecosystem that creates workflow efficiencies. This integration ensures that tax calculations are always up-to-date and compliant with the latest tax laws, thanks to automatic updates and links to primary source citations.
Moreover, Bloomberg Tax Workpapers standardizes SOX controls with workbook-level sign-offs and status tracking, which not only reduces risks but also increases the reliability of the tax reporting process. This level of innovation and practical application in a traditionally manual and error-prone area demonstrates Bloomberg Tax & Accounting's commitment to driving forward technological advancements in the tax profession.
- Explain why the achievements you have highlighted are unique or significant. If possible compare the achievements to the performance of other players in your industry and/or to the organization's past performance (up to 250 words):
Total 250 words used.
The achievements of Bloomberg Tax Workpapers under the leadership of Lisa Fitzpatrick, President of Bloomberg Tax & Accounting, are both unique and significant, showcasing her pivotal role in leading her team to better understand corporate tax practitioners’ workflows and driving technological innovation that addresses common pain points. Lisa’s vision for a streamlined, efficient approach to tax workpapers has led to the development of a groundbreaking solution that significantly increases the productivity of tax professionals and mitigates risks for error.
Under Lisa’s guidance, Bloomberg Tax Workpapers was developed as a cloud-based platform that integrates data preparation, spreadsheets, and tax guidance with robust controls tailored specifically for tax professionals. This innovative approach addresses the complex and manual challenges of tax preparation, automating critical processes such as M-1 flux analysis and period-over-period roll forwards, which traditionally consumed extensive time and were prone to errors.
The significance of Lisa’s leadership is further evidenced by the enthusiastic feedback from users. Professionals from top firms like Hyland Software and DEKRA North America have praised the system for its reliability and the confidence it instills, allowing them to focus on strategic tasks rather than manual calculations. The ability to start with advanced, pre-populated templates that adhere to the latest tax laws not only saves hours of work but also ensures accuracy and compliance.
Moreover, the recognition of Bloomberg Tax Workpapers with multiple awards (detailed in final question) highlights the impactful and innovative contributions of Lisa Fitzpatrick's leadership and her commitment to empower the tax profession through technology.
- Reference any attachments of supporting materials throughout this nomination and how they provide evidence of the claims you have made in this nomination (up to 250 words):
Total 238 words used.
In support of our nomination of Lisa Fitzpatrick for the Stevie Awards for Women in Business - Achievement in Technology Innovation, we have included several key documents that substantiate the claims made about her leadership and the technological advancements under her direction. These materials include press releases and award citations that detail the development and success of Bloomberg Tax Workpapers, a pioneering technology in tax management.
Firstly, the press release titled "Bloomberg Tax Workpapers Honored in American Business Awards" provides a comprehensive overview of the product's capabilities and its recognition as a Bronze Stevie Award winner in the Financial Management Solution category. This document highlights the innovative features of Bloomberg Tax Workpapers, such as its integration of data preparation, spreadsheets, and tax guidance, all enhanced by automation to streamline complex tax processes.
Additionally, the accolades received from the 2024 Golden Bridge Awards and the Globee Awards further reinforce the innovative impact of Bloomberg Tax Workpapers. The Silver Award in the Technology Software category and the Silver Globee for Technology in Finance and Accounting Business Process Outsourcing are testament to the product's effectiveness and the forward-thinking leadership of Lisa Fitzpatrick.
These supporting materials not only validate the technological innovations introduced by Lisa Fitzpatrick but also illustrate the practical implementation and industry recognition of these advancements. Together, they provide a robust foundation for our nomination, showcasing Lisa Fitzpatrick's significant contributions to technology innovation in the field of tax and accounting.
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