Customer Segments
we serve
K1x delivers LPs, GPs, and accounting firms a unified and secure sharing environment designed to streamline and collaborate on their K-1, K-3, and 990 workflows through a standard transmission schema.
Proven results.
K1x is battle-tested by the best, and trusted by more than 8000 organizations, with clients including:
11.8
SECONDS OF DATA
EXTRACTION PER K-1
42
STATE & FEDERAL
TAX JURISDICTIONS
177
TAX FORMS FOR
42 FEDERAL & STATE
TAX JURISDICTIONS
44
OF THE TOP 100
INSTITUTIONAL INVESTORS
15
OF THE TOP 25
ACCOUNTING FIRMS
51
OF THE TOP 100
NON PROFITS
36
OF THE TOP 100
UNIVERSITY ENDOWMENTS
8
OF THE TOP 40
HEALTH SYSTEMS
11
OF THE TOP 100
PRIVATE FOUNDATIONS
FOR EXAMPLE
For a composite firm with 500 K-1s and 20 entities
COLLECT 500 K-1S
0.9 person hours savings per portal
60% process savings
405 annual person hours savings
$26K annual savings
ANALYZE 500 K-1S
1.6 person hour savings per K-1
26% overall process savings
805 annual person hours savings
$52K annual savings
PRODUCE 500 K-1S
1.5 person hours per K-1
24% overall process savings
755 annual person hours savings
$48K annual savings
FILE 20 ENTITIES
7.5 person hours savings per form
26% overall process savings
266 person hour savings
$14K annual savings
“Reconciling every investment to the K-1s was a real administrative challenge for us. K1x was a huge help pulling in information because it took data entry off us. We love its ability to move data from one K-1 line item to another—this reduces the hassles with reclassification & eliminated data entry work. We needed something more robust. Now we have drag & drop and integration with important third-party software. I think everybody should use this!”
K1X CLIENT
Office Agent
Institutional Investor
Challenge
- Manual work inhibited time spent on analysis.
- Required 3 hours clocking through 400 K-1s
- Bottlenecks: 1099 team restricted to mornings; K-1 team worked afternoons sequentially
- Difficulties processing K-3s
Solution
- Openness to technology solutions
- Adopted K-1 Analyzer
Outcome
- Better analysis & error detection: Pivot data helped assess preparer accuracy
- Concurrent work: Multiple people can now work in the return at the same time
- Easier K-3s: View organized list of foreign branch income sources for easy analysis
Large Insurer
Challenge
- 900+ K-1s, 5 times per year, 6000 page tax return
- Data entry: 6-8 weeks for 40 hours/week
- Foreign filing: required 2 months for team of 4
Solution
- K-1 Analyzer replaced homegrown K-1 tracker
- Eliminated a source of technical debt, became the central hub for the investment tax function
Outcome
- Eliminated 90% of manual data entry
- No more hand keying reports—now they just download what they need
- Decreased weekend work
“It was huge for us to be able to use the select all and export all investments feature. This produces a large grid that has each level of input for each K-1. We can easily discover now whether the preparers picked up that information correctly. Did the intern remember to pick up a transfer to another fund in the tax basis calc? Maybe not, but K-1 Analyzer definitely did.”
K1X CLIENT
Large Institutional Investor Client
“Now it’s easy to set up new entities, gather and store information, prepare returns, and manage the entire process. Everybody on our team enjoys the K1x solution. I don’t know how people track all their investments without K1x.”
SCOTT SCHITTER
VP of Tax at Bon Secours Mercy Health
Healthcare
Challenge
- Inefficient, manual 990 process
- Hired extra staff just to handle the work
Solution
- Adopted C-TRAC
- Leaned on K1x Client Success team for support
- Integrated with existing tax software stack
Outcome
- Cut cost by insourcing
- More time on data analysis vs data entry
- Data changes immediately visible in PDFs
- E-filing easily
Accounting Firms
Challenge
- Manually rekeying same numbers in excel spreadsheets, then into tax forms
Solution
- Adopted innovator mindset
- Allocated resources to change management
- Phased Adoption of K-1 Analyzer
Outcome
- Automated processing of 250 K-1s in 2020, growing to 2000 K-1s by 2023
- 90% reduction in manual entries
- Faster timelines, improved margins, and greater overall satisfaction
“We initially had two reasons for hesitations.
1.) Compatibility with our existing software and 2.) whether it is accurate enough. We were pleasantly surprised and have had a really good experience. ”
K1X CLIENT
Large US Insurance Company
Large US Insurance Co
Challenge
- 500 K-1s with foreign reporting and white paper detail took India based managed services team 250 hours (30 minutes per k-1)
- Growing K-1 Volume plus risk that reinsurance and M&A could add 1000’s of partnerships, company outgrew XLS Spreadsheets
- Unacceptable risk of penalties if you get something wrong
Solution
- Explored options from Big 4 but they cost the same as 1-2 FTEs
- Learned that K-1 Analyzer integrated with existing Thomson Reuters software
Outcome
- Processing time fell to 5 min per K-1 or 10 min for particularly difficult K-1s
- Automating K-1s redirected our managed services team to focus on [higher value] 1st level review
- K1x platform provides expected taxable income 2 to 23 months earlier than before. Also tracks status of received versus outstanding K-1s
Family Office
Challenge
- Processing and reconciling 600 K-1s, (some as large as 150 pages) is manual and time-consuming
- Most tax software in the market is oriented around the 1040 did not support the K-1
Solution
- Adopted K-1 Analyzer
- Onboarding K-1 Navigator
Outcome
- Eliminated 80% of manual entry of data (and continues to improve)
- Ability to push the K-1 into the tax return while customizing the look
- Drag and drop integration with GoSystems
“K1x was a huge help pulling in information because it took data entry off us. We love its ability to move data from one K-1 line item to another — this eliminates the hassles with reclassification and eliminated data entry work. Now we have drag and drop and integration with important third-party software. I think everybody should use this!”
K1X CLIENT
Family Office
“C-TRAC is very user friendly, easily navigable. Support is great. We get quick answers. This is a solid solution for nonprofits. The team is great. Rollover to the new tax year is quick, often within the day. All we do is hit refresh on our browster and the new tax year information can be entered. It’s not just pretty good. It’s better than pretty good.”
K1X CLIENT
Large Foundation
Large Foundation
Challenge
- Manual editing of 990-PF returns
- Using an enterprise solution but difficult getting signatures
- Forced to use Adobe editor to make returns look right.
Solution
- Network referrals and recommendations led to C-TRAC
- Management team was open to innovation
Outcome
- Prep work had been cut by 33% to 50% if not more
- Ability to upload information helped streamline 990 processing
- Less mind-numbing, less tedious work
- Goal is to spend less time receiving information