“StoneRiver wanted to partner with a tax reporting solution provider that met the StoneRiver standards for premiere end-to-end solutions,” says Dori Luke, SVP of Financial and Compliance Products.
Plymouth, MN (PRWEB) September 21, 2010
Convey and StoneRiver announced today a strategic partnership to leverage StoneRiver insurance accounting expertise and Convey tax reporting expertise to the benefit of Property & Casualty, Life, and Health insurance providers. Ultimately, the partnership will create a seamless experience for insurers’ back-office financial management and tax reporting.
Given the recent regulatory reporting changes (e.g. corporate reporting, merchant reporting) and increased scrutiny on tax reporting, both companies felt it was time to offer best-in-class solutions to the insurance market. Insurance clients with complex accounts payable environments will gain enhanced access to the most compliant, flexible, scalable tax reporting solution on the market.
“Our partnership with StoneRiver offers the insurance industry a complete back office product which provides not only financial management support but also reduces both the costs and risks associated with handling 1099 reporting,” said Brian Provost, President and CEO of Convey Compliance Systems. “Convey is proud to be working with StoneRiver clients to provide the market’s most scalable and flexible 1099 reporting and withholding services, especially at a time when risks for non-compliance are higher than ever.”
Convey’s 1099 reporting solutions offer insurance providers an on-demand verification of tax identity information, and streamline the cumbersome 1099 statement delivery and filing processes, minimizing the risk of penalties and fines.
“StoneRiver wanted to partner with a tax reporting solution provider that met the StoneRiver standards for premiere end-to-end solutions,” says Dori Luke, SVP of Financial and Compliance Products, “Today’s tax regulatory environment is more complex and dynamic than it has been over the last 25 years. We are excited to be able to provide Convey’s industry leading 1099 services and education to our client base.”
StoneRiver delivers the industry’s widest range of technology solutions and services to insurance carriers, agents, and broker-dealers. This versatile product group encompasses front-office, policy, claim, rating, underwriting, billing, reinsurance, financial and compliance solutions for all major business lines. Hundreds of companies rely on StoneRiver software and processing solutions to achieve a competitive edge. StoneRiver promotes client success by streamlining complex business processes. Visit http://www.stoneriver.com for more information.
About Convey Compliance Systems, Inc.
Convey Compliance Systems reduces both the costs and risks associated with handling 1099 reporting and withholding activities at the federal and state level. Clients depend on Convey’s innovation and expertise to assure tax compliance while handling the complexities of reporting and filing tax documents on behalf of customers, vendors and investors. Convey’s solutions reflect over 20 years of expertise in 1099 reporting with configurable on-demand software and operational services, all designed to reduce costs, increase efficiency and mitigate risk.
Founded in 1986, Convey serves over 2,000 clients ranging from small businesses to Fortune 500 companies. For more information, visit http://www.convey.com.