Alphamap is award-winning!

Alphamap won the award for “Best Digital Innovation” at the Tolley’s Taxation Awards 2024, highlighting it as the first-of-its-kind generative AI powered solution for trial balance data mapping and data management.

At the Tolley’s Taxation Awards 2024, we once again saw the very best in tax come together for a night of celebration of individuals and businesses across the industry. Hosted at the Hilton London Metropole in central London, the event saw those in attendance adorn a little glitz and glam for the evening before settling down to watch the night unfold and winners announced. Excitement and anticipation was palpable throughout the room as each category was listed and the victors celebrated.

As the second category of the night, the team didn’t have to wait long before the culmination of all their hard work was announced. Up against some strong contenders, it was a high achievement for Alphamap to take the award for Best Digital Innovation so soon after its launch last year. Proving the hard work and fantastic accomplishments of everyone who worked to make the solution a success.

As Tax Systems’ latest and first-of-its-kind generative AI powered solution, Alphamap demonstrates the innovation and thoughtful development of a generative AI tool to enhance workflow and productivity within the tax sector. It prepares intelligent tax treatment analysis and reduces the time required to complete and upload trial balance data into Alphatax by 80%, enabling tax teams to operate more efficiently and focus on higher-value tasks.

Traditionally, trial balance mapping and tax treatments are rather time-consuming methods, carried out using manual copy and paste processes, which can often result in inaccuracies and human error. Seeing the need for a productive solution, Tax Systems became the first software provider to launch a solution in the UK and Ireland that eliminates this challenge. By intelligently processing data from raw input lists, Alphamap effortlessly populates both the profit and loss (P&L) and detailed profit and loss (DPL) statements, to an accuracy level of more than 90%. Going a step further, by harnessing the power of generative AI, Alphamap then prepares a tax treatment analysis to an accuracy level of more than 80%, for use across the tax departments of both corporates and accounting firms. This enables the solution to highlight anomalies earlier in the process and deliver high quality, accurate, consistent outputs.

Fully integrated with Tax System’s Alphatax offering, Alphamap becomes your tax copilot, elevating users from a data input role to that of a tax analyst. The solution has the unique ability to incorporate an organisation’s specific business context to ensure high quality, accurate outputs, further reducing the risk of human error.

The Best Digital Innovation award highlights Alphamap as part of Tax Systems’ core mission to provide customers with best-in-class software that transforms the way you work and reinforces the commitment to creating a cloud-first, international, multi-product tax and accounting platform. As a real-world example of how generative AI can be used securely and to strategically reduce the manual work of tax professionals, Alphamap demonstrates a new direction for working in tax.


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