6 reviews

Tax Foresight

Tax research and planning software

4,3 /5 (6 reviews) Write a Review!
Overall rating
4,3
/
5
Value for Money
4
Features
4
Ease of Use
4,5
Customer Support
4,8
83% recommended this app
6 reviews
Verified Reviewer
Industry: Accounting
Company size: 10 000+ Employees

Tax Foresight - Review

Used Other for 1-5 months
Reviewed on 2019/05/17
Review Source: Capterra

Overall, the experience has been good so far! It will be great if more scenarios can be included to further increase the usefulness of the tool.

Pros

I like the user platform of Tax Foresight, as it is pretty easy to navigate and use. Instructions on the page itself is easy to follow as well. The reports that are generated are very nicely presented. There are also continuous customer support (ie: providing training sessions, sending emails etc.).

Cons

I think there can be more scenarios for the different tax issues that might come up. Currently, the number of circumstances are rather limited. And sometimes, the responses that can required might not be available from the client.

Rating breakdown

Value for Money
Ease of Use
Customer Support

Likelihood to recommend: 8.0/10

Selina W.
Industry: Accounting
Company size: 10 000+ Employees

Feedbacks

Used Monthly for 1-5 months
Reviewed on 2019/05/12
Review Source: Capterra

I believe Tax Foresight allowed me to reduce errors and saved tremendous amount of time while producing accurate results. I like the classifiers and case finders features that ensures the research is comprehensive.

Tax Foresight allowed me to strengthen customer relationships and build trust within the internal team. I can now streamline my research and produce quality tax advice to clients.

Pros

Tax Foresight is a powerful research engine that allows me to perform accurate research through case laws and precedent legal issues. It informs me the confidence percentage rating to determine how likely a court will rule the way of the predicted result, which allows me to triage my research needs. In addition, I can also revise my factors to increase/decrease the level of confidence. I like how Tax Foresight produces two sets of cases, "Similar Cases" and "References", which share factual features and important cases frequently cited in court judgments. Overall, I think Tax Foresight is an excellent tool that increased efficiency and comfort level in my research.

Cons

Although the current classifiers cover the most frequently searched and requested, there are still a lot of topics that are not available on Tax Foresight. However, I am confident that more topics will be added going forward as the number of users and recommendations increase.

Rating breakdown

Value for Money
Ease of Use
Customer Support

Likelihood to recommend: 8.0/10

Eric F.
Industry: Law Practice
Company size: 10 000+ Employees

Useful in when it applies, which is rare

Used Other for 1+ year
Reviewed on 2019/05/17
Review Source: Capterra

Tax Foresight is great for giving you a starting place on answers to some questions. It won't be great on difficult questions, and the number of classifiers is very limited. That said, it can help you surface relevant case law on some common issues (e.g. GAAR), which is quite helpful.

Pros

Provides a thorough walkthrough of questions that are relevant to a particular issue and allows you to change answers to see what the effect will be on the outcome. Also great a surfacing jurisprudence that most closely reflects your fact pattern.

Cons

There just aren't that many situations in which to use it because there are not very many classifiers compared with the number of questions a tax lawyer professional needs to answer. This is not a problem that the company can fix, the problem is that machine learning can only do so much, which leads to two problems.

First, machine learning requires a huge amount of input to be accurate and in Canada there just isn't enough jurisprudence available. Furthermore, tax legislation changes so often that the machine learning algorithm cannot rely on cases going back too far, which further limits the potential pool of input.

Second, machine learning still relies on human input to classify questions and answers. If the human trainer says that "these five issues" are generally determinative then that is what the algorithm will learn. As a result, it will miss edge cases (which is reasonable). But those edge cases are the ones that practitioners generally need the most help with. When a residency issue is straightforward, the algorithm will have no problem, but neither will the practitioner.

Rating breakdown

Value for Money
Ease of Use
Customer Support

Likelihood to recommend: 5.0/10

David P.
Industry: Legal Services
Company size: 51-200 Employees

Tax Foresight is on the Forefront of Legal Technology

Used Other for Free Trial
Reviewed on 2019/02/22
Review Source: Capterra

It's a great program that substantially cuts down research time, allows you to verify your intuition, and frees up more time to focus on other aspects of the client-attorney relationship.

Pros

The final predictive outcome analysis also presents the user with a detailed legal analysis, foundational legal precedents, cases on point, etc. in a simple and easy to navigate format.

Cons

Only focused on Canadian law at the moment, but I am aware of plans to scale out to U.S. federal law.

Rating breakdown

Value for Money
Ease of Use

Likelihood to recommend: 10.0/10

Verified Reviewer
Industry: Accounting
Company size: 5 001-10 000 Employees

Taxforesight

Used Monthly for 6-12 months
Reviewed on 2019/05/10
Review Source: Capterra

Overall my experience has been positive, I foudnd the tool to be useful.

Pros

The software is easy to use and I like how it allows you to easily cross reference the findings with actual court cases. This allows you to complete a lot of research relatively quickly.

Cons

There could be a wider variety of topics that the tool allows us to research.

Rating breakdown

Value for Money
Ease of Use
Customer Support

Likelihood to recommend: 6.0/10

Smita S.
Industry: Accounting
Company size: 10 000+ Employees

Great tool

Used Monthly for 1-5 months
Reviewed on 2019/05/10
Review Source: Capterra

Pros

Great tool to check to see a variety of indicators

Cons

Some missing indicators but those will be developed

Rating breakdown

Value for Money
Ease of Use
Customer Support

Likelihood to recommend: 8.0/10