...the latest breakthrough: tax accounting software that takes the guesswork out of meeting foreign tax codes...
Wilmington, NC (PRWEB) January 22, 2013
Historically digital innovations have surfaced from a group of “programmer geeks” huddled around a table talking code jargon. Recently, though, software specialists have witnessed a surge in groundbreaking solutions conceptualized outside of the IT field.
This is exactly the case with the latest breakthrough: tax accounting software that takes the guesswork out of meeting foreign tax codes. NeoNexus Corporation – a North Carolina-based programming firm – has partnered with Pennsylvania-based Codehead to develop the new product, bringing that “idea agency’s” paper concept to tech life.
“People in niche industries know of related shortcomings firsthand and oftentimes have great solutions in mind. They just don’t know how to turn their idea into a software solution to solve the problem and reach a global audience,” said Kent Milholland, President of NeoNexus. “That’s where we come in. We take a creative business idea and turn it into a working IT solution.”
Codehead entered the picture when one of its founders, Janet Reynolds, recognized that there was a need to simplify unclear procedures inherent in many foreign tax policies. An experienced public accounting specialist, Reynolds approached NeoNexus with her concept – software that can automatically calculate these liabilities. NeoNexus was the sixth company they approached; the other five passed at the complex calculations.
“We were excited that they didn’t give up on an amazing idea due to a lack of programming knowledge,” Milholland said. “This one software alone has the potential to drastically reduce the IRS penalties paid by U.S. corporations with a multi-national presence.”
Milholland added that numerous critical solutions have yet to emerge from the creative entrepreneurial community. Like Codehead’s idea, he explained, the visions for some of NeoNexus’ most elaborate projects have surfaced from municipalities, small private businesses and answer-seeking entrepreneurs.
“This really is just the beginning,” he said. “It’s no longer taboo or risky to outsource software development. In fact, it can reduce the entry costs to start a new internet company. Imagine; a software company with no programmers!"