Who we help
The status quo fails both investors and their advisors. A perfect storm of changing regulatory demands, historic staffing constraints, and clunky technology all conspire to drive up costs in a high-stakes, mad scramble for missing and late information. K1x is the only patented, AI-powered platform that streamlines alternative investment data distribution.
AI-powered digital transformation and automation that benefits you.
“If you are a sophisticated exempt like a hospital or a university, K1x is the best tool. I can see my changes right away in my PDFs. We spend more time doing data analysis instead of data entry. This definitely saves weeks of time every month.”
SCOTT SCHITTER
VP of Tax at Bon Secours Mercy Health
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 costs by insourcing
- More time on data analysis vs data entry
- Data changes immediately visible in PDFs
- E-filing easily
“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 out of the wrong box into the right box–this eliminates the hassles with reclassification and eliminated data entry work.”
K1X CLIENT
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 and 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
“There is an astonishing amount of information you can get from the software without even realizing it. We can easily discover now whether the preparers picked up that information correctly.”
K1X CLIENT
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
“This tech will make a huge impact on our tax transformation.”
K1X CLIENT
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 hundreds of K-1s in 2020, growing to thousands of K-1s by 2023
- 90% reduction in manual entries
- Faster timelines, improved margins, and greater overall satisfaction