New Zealand-based Xero is entering the United States market for practice management software. The company, which launched its online accounting package in this country last fall, entered that application segment through its acquisition earlier this year of WorkflowMax.

Thomson Reuters has introduced a new workpaper product, Workpaper CS. And while the company will continue to maintain its Engagement CS product, that product will not get much further development.

Practice management is a bread-and-butter application for the tax and accounting professional. It's time and billing element is what is needed to get the bill to the client for all those hours worked, while the data collected has potential for learning more about their needs and providing services. With links to portals and mobile devices development, this veteran breed of software appears ready to undergo a major change.

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