Apex Cost Basis and Tax Automation Solutions

This technical report outlines the functionalities and benefits of the Apex Cost Basis and Tax platform, which is designed to automate cost basis calculations and tax reporting. The platform is built on cloud infrastructure capable of processing millions of accounts in real-time, featuring automated data validation and event-driven processing. It details flexible service delivery options, including technology-only or Business Process Outsourcing (BPO). The report includes information on automated corporate actions processing that significantly reduces reconciliation breaks and errors. A case study involved processing high volumes of account activity with near-zero reconciliation breaks. The platform also supports comprehensive daily processing, making it suitable for various financial entities such as broker-dealers and accounting firms. Key capabilities include real-time reprocessing, life-of-lot transparency, and the ability to generate tax statements on demand throughout the year, thus streamlining operations and improving accuracy in reporting. The document discusses the significant cost reductions and operational efficiencies achievable with the solution.