IRIS Software Group Invests in AI Tax Platform Instead

IRIS Software Group has announced a minority investment in Instead, an AI-powered tax management platform, to enhance automation in tax preparation.

IRIS Software Group has announced a strategic minority investment in Instead, an AI-powered tax management platform, announced in a press release. Instead's platform automates over 90% of the tax preparation process, allowing accountants to focus on strategic advisory rather than compliance.

The investment will enable Instead to accelerate product development and expand its sales and marketing capabilities. Instead is notable for being the first new platform in decades to receive IRS approval for e-filing individual and business tax forms, including 1040, 1041, 1120, 1120S, and 1065.

IRIS and Instead will collaborate closely to foster innovation and apply AI-driven solutions to real customer challenges, aiming to transform the business of accountancy through intelligent automation.

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