Computer Language Research, Inc. acquires 'TMS' assets from Price Waterhouse LLP.CHICAGO--(BUSINESS WIRE)--Dec. 4, 1995--Price Waterhouse LLP LLP - Lower Layer Protocol and Computer Language Research, Inc. (CLR/Fast-Tax) Monday announced an agreement whereby CLR/Fast-Tax will acquire Price Waterhouse software marketed under the tradename "TMS TMS Transcranial Magnetic Stimulation (alternative medicine for depression) TMS Test Match Special (sports - cricket) TMS Texas Motor Speedway TMS Transportation Management System TMS Toyota Motor Sales ". In addition, Price Waterhouse disclosed its intent to develop client/server versions of future planning software using the InSource technology platform developed by CLR/Fast-Tax. Virtually all development and support personnel currently assigned as·sign tr.v. as·signed, as·sign·ing, as·signs 1. To set apart for a particular purpose; designate: assigned a day for the inspection. 2. to TMS have been hired by CLR (Common Language Runtime) The runtime engine in Microsoft's .NET platform. The CLR compiles and executes programs in Microsoft Intermediate Language (MSIL). The counterpart to the CLR for the Common Language Infrastructure (CLI), ECMA's standard version of . so that TMS clients will continue to receive the same level of support as provided by Price Waterhouse. CLR/Fast-Tax will continue to maintain the DOS and Windows versions See Windows. of TMS for the foreseeable fore·see tr.v. fore·saw , fore·seen , fore·see·ing, fore·sees To see or know beforehand: foresaw the rapid increase in unemployment. future. The Price Waterhouse team that will be joining CLR/Fast-Tax will assist the company in developing an advanced version of InSource which will incorporate the best features of InSource and TMS and will include a seamless data replication In database management, the ability to keep distributed databases synchronized by routinely copying the entire database or subsets of the database to other servers in the network. There are various replication methods. capability that enables TMS clients to "turn-on" InSource with near 100 percent conversion of data. Current TMS clients may elect to continue to use TMS (either DOS or Windows versions) or transition to the more powerful TMS version of InSource at their own pace. In addition, TMS clients will be able to immediately implement property tax, premium tax and sales-and-use tax software available from CLR/Fast-Tax. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Stephen D. Desmond, National Director of the Price Waterhouse Tax Technology Group, "With the advent of new client server technology, Price Waterhouse elected to re-assess our tax technology strategy. "In particular, we evaluated the open architecture of InSource CS from CLR/Fast-Tax and concluded that the reasons which originally drove us to develop our own proprietary tax compliance software no longer exist. "Instead of re-inventing core tax compliance software, we believe we can better serve the corporate tax community by leveraging our planning resources off the InSource CS compliance platform. Price Waterhouse will re-deploy its tax technology resources to develop advanced planning and transactional analysis software applications that tap into the InSource CS data warehouse." According to Stephen T. Winn, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Computer Language Research, Inc., "Data stored in competitive tax software packages is locked within their internal proprietary data bases. This makes it difficult for anyone other than the original supplier of the software to develop enhancements and extensions because third party developers can not access the data. "The open data architecture of InSource CS enables CLR/Fast-Tax to extend our development resources to include tax professionals from all Big 6 accounting firms because data is unlocked and accessible to any application with the proper security authorizations. "Price Waterhouse recognizes the power of this capability and plans to extract data from the InSource CS data warehouse into planning applications that they develop around the world. Our agreement with Price Waterhouse is non-exclusive, so we believe other Big 6 accounting firms will also endorse the InSource CS platform and begin developing extensions that add value to InSource CS." According to Allen Harris, Group Vice President at CLR/Fast-Tax, "The TMS version of InSource can be used as a simple replacement for TMS. However, most clients consider the transition to InSource as an opportunity to re-engineer the way tax information is captured, stored and retrieved within the tax department. By re-engineering information flows, our clients can realize significant improvements in efficiency and have better tools for tax planning Tax planning Devising strategies throughout the year in order to minimize tax liability, for example, by choosing a tax filing status that is most beneficial to the taxpayer. and analysis. "Price Waterhouse has marshaled an impressive group of senior partners and tax professionals to extend the InSource platform with many new and exciting planning applications and to work closely with CLR/Fast-Tax to support the current TMS client base with enhanced client/server tax software. "Current TMS clients should receive even higher levels of support in the future because the product development, sales, support and client service personnel within the TMS business have been hired by CLR and will be combined with the even larger support resources of CLR to help TMS clients realize the re-engineering potential of InSource." Computer Language Research, Inc. is headquartered in Carrollton, Texas Carrollton is a city in Texas, partially in Dallas County, partially in Denton County, and partially in Collin County. As of 2005, census estimates the city's total population to be 122,699.[1] Carrollton is a suburb of Dallas. , and maintains sales and support facilities throughout the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . The company provides tax and accounting information software and services to accounting firms, banks, corporations, and partnerships under the trade name Fast-Tax. Its Real Estate Division develops and markets residential real estate software and services to property managers and developers. -0- NOTE: Find more about InSource CS and other Fast-Tax products on CLR's World Wide Web site, scheduled to go "live" on Dec. 15, 1995 at: http://www.clr.com. NOTE: All names and trademarks are the property of their respective owners. CONTACT: Computer Language Research Inc. Peter Feldman Peter Feldman is a professional poker player from Harper Woods, Michigan Feldmans's first major success in poker came in a 2006 World Series of Poker circuit event, where he won the tournament $532,950. , 214/250-7970, CompuServe "74171,20", or Internet "peter_feldman@fasttax.com" or Price Waterhouse LLP Firmwide Communications Jan Butler, 212/819-4838 or The Katsantonis Group John Katsantonis, 214/620-9345, MCI Mail (messaging) MCI Mail - The first commercial Internet electronic mail service, launched by MCI in about 1981. Vint Cerf was the chief engineer. Reading mail was free but you had to pay to send. Users discovered you could communicate for free by sharing an account. "JKatt," or Internet "jkatt@mcimail.com". |
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