Wolters Kluwer Launches Prime Practice Management in Hong Kong

HONG KONG, CHINA - Media OutReach - Dec 10, 2015- Wolters Kluwer launches Prime Practice Management, a firm management software for accounting practices in Hong Kong. Prime Practice Management is a solution delivering the day-to-day tools to accountants in Hong Kong to manage their firms. This is the second Wolters Kluwer's product which has been specifically tailored for Hong Kong, after PrimeLaw, a comprehensive online legal database, which has been well-received in the local legal profession.

A Powerful All-Encompassing Software Solution

Prime Practice Management allows users to accurately track workflow in real-time and maximize productivity. Users can choose between the cloud-based system and the locally-based system to efficiently monitor projects and timesheets even when they are on the go, allowing more time to be allocated to serving their clients' needs.

The software makes use of dashboard technology to display real-time data which keeps the user fully informed and in complete control of the workflow process. As accounting practices shift their focus to value-based services, the software offers an easy-to-navigate project management function which allows for the assigning of multiple tasks, workflow steps and due dates. This goes beyond the traditional practice of focusing on inputting data in timesheets and bridges the gap between the assigning and execution of projects.

Visibility and transparency is crucial to effective communication within the workplace which this new software solution addresses by including Administration, HR, Finance and Statistics functions. Prime Practice Management aims to fully encompass all of the tools that are required by an accounting practice to carry out its daily operations as efficiently as possible.  

 "This software solution will automate the running of your practice on your iPad and mobile device.  We've done our research: more than 90% of customers who bought it said how much they appreciate the software. It significantly increases the efficiency of their staff and the overall practice of the firms," said David Chang, General Manager of Wolters Kluwer Hong Kong.

Software Development in Tax and Accounting

"Our clients span from accounting and law firms to education institutions and multinational corporations. One of our great strengths is the ability to provide industry insights print with tax guides and company secretarial guides, and online research that empowers our users using the information in an efficient and result driven search. Apart from being an information provider, we hope assist accountants in their daily operation," said Chang.

Wolters Kluwer established a software presence in the Tax and Accounting sectors in Hong Kong in 2012. Historically, the accounting firms used paper predominantly in their workflow, e.g. the completion of timesheets and invoices. In recent years, there is a change in the sector to management the firm operation electronically. Wolters Kluwer sees this as a great opportunity to expand the offering to the industry.

Prime Practice Management is proven to be a solution that addresses the need of CPA firms. The equivalent Chinese version of Prime Practice Management is a time-tested system utilized by prominent and reputable practices including more than half of Top 50 Accounting Practices in China. A Partner of Ruihua certified public accountants is pleased with the performance of the software. He said, "The society today is highly reliant on information technology. We, as the largest domestic accounting firm, rely essentially on the practice management system. If the practice management software stops for one minute, our business management system has also stopped for one minute."  A Partner from Beijing Xinghua CPA expressed similar view, "Our quality control affairs are all completed through practice management software. All reports issued by our branches are examined and approved online."

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About Wolters Kluwer

Wolters Kluwer is a global leader in professional information services. Professionals in the areas of legal, business, tax, accounting, finance, audit, risk, compliance and healthcare rely on Wolters Kluwer's market leading information-enabled to​ols and software solutions to manage their business efficiently, deliver results to their clients, and succeed in an ever more dynamic world.

Wolters Kluwer reported 2014 annual revenues of €3.7 billion. The group serves customers in over 170 countries, and employs over 19,000 people worldwide. The company is headquartered in Alphen aan den Rijn, the Netherlands.

Wolters Kluwer shares are listed on Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices. Wolters Kluwer Tax & Accounting, a part of Wolters Kluwer,  is a leading provider of tax, accounting and audit information, software and services. Among its market-leading solutions are The CCH® ProSystem fx® Suite, CCH Axcess™, CCH® IntelliConnect®, CCH® IntelliConnect Direct, CCH® Accounting Research Manager® and the China Tax & Accounting Reference.

For more information about our products and organization, visit www.wolterskluwer.com, follow Wolters_Kluwer on Twitter, like us on Facebook, follow us on LinkedIn, or follow WoltersKluwerComms on YouTube.