IRIS Software Group Invests in AI-Driven Tax Platform Instead
IRIS Software Group (IRIS), a top global provider of accountancy, HR, and payroll software, has taken a minority stake in Instead, an AI-powered tax platform. Instead focuses on automating tax preparation, helping accountants move beyond compliance and towards strategic advisory.
By automating routine tax tasks and delivering deeper insights, Instead enables firms to dedicate more time to higher-value services. This investment reflects IRIS’s ongoing push to transform accountancy through intelligent automation.
Strategic Impact of the Investment
Following the investment, Instead and Corvee will continue as separate entities. This minority investment accelerates Instead’s product development and boosts its sales and marketing efforts. IRIS strengthens its position in the accountancy market by supporting a platform that promises to reshape tax preparation.
Jim Dunham, President and General Manager of IRIS Americas, emphasized the significance: “Instead is the first major disruption in individual and corporate tax since 1993. This partnership speeds up delivery of smarter, more accessible solutions for firms across the profession.”
How Instead Transforms Tax Preparation
- Analyzes tax returns and identifies savings strategies
- Automates filing for federal and state tax returns
- Uses agentic and generative AI to automate over 90% of the tax process
- Earned IRS approval to e-file major tax forms such as 1040, 1041, 1120, 1120S, and 1065
- Expanding authorization to cover all U.S. states and major cities for nationwide filing
Andrew Argue, CEO of Instead, stated, “This investment enables us to accelerate bringing AI-powered tax preparation and planning into the mainstream, simplifying compliance and allowing professionals to focus on higher-value advisory.”
Collaboration for Innovation and Growth
IRIS and Instead will collaborate closely to foster innovation, exchange insights, and apply AI-driven solutions to real customer challenges. By combining their expertise, they aim to accelerate product development and push advancement across the tax and accounting sectors.
Executives and strategists in accounting firms should monitor this partnership, as it signals a shift in how tax services are delivered—moving towards automation that supports more strategic and advisory roles.
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