IRIS Software Group (IRIS), a leading global provider of accountancy, HR, and payroll software, has made a minority investment in Instead, an AI-powered tax platform helping accountants automate tax preparation and shift their focus from compliance to strategic advisory. By streamlining routine tasks and providing the tools to deliver deeper insights, Instead frees up time for firms to offer higher-value services. This significant minority investment marks a major step in IRIS’s commitment to transforming the business of accountancy through intelligent automation, while also enabling Instead to accelerate product development and expand its sales and marketing capabilities.
“Our investment in Instead marks an important step in supporting meaningful innovation in the market, for the benefit of US customers” said Jim Dunham, President and General Manager of IRIS Americas. “It positions IRIS at the forefront of innovation and underscores our mission to serve the accountancy market. Instead represents the first true disruption in individual and corporate tax since 1993, and this partnership accelerates the delivery of smarter, more accessible solutions for firms across the profession. It’s a game changer.”
Instead’s platform analyzes tax returns, implements savings strategies, and facilitates the filing of both federal and state tax returns. Powered by agentic and generative AI, the platform aims to automate over 90% of the tax preparation process. In a major industry milestone, Instead became the first new platform in decades to earn IRS approval to e-file individual and business tax forms, including 1040, 1041, 1120, 1120S, and 1065. The company is now rapidly expanding its reach, actively securing authorization across all U.S. states and major U.S. cities to offer truly nationwide filing.
“This investment from IRIS enables us to accelerate our mission – bringing AI-powered tax preparation and planning to the mainstream,” said Andrew Argue, CEO of Instead. “We’re proud to be leading the way in transforming tax work for firms, simplifying compliance, boosting accuracy, and freeing professionals to focus on higher-value advisory.”
As part of the agreement, IRIS and Instead will work closely to foster innovation, exchange insights, and apply AI-driven solutions to real customer challenges. By combining deep domain expertise and complementary capabilities, the partnership creates a powerful foundation to accelerate product development, challenge conventional thinking, and drive advancement across the tax and accounting ecosystem.
