Back in the dawn of time known as 1981, Jake Anand started a company called Softron, specializing in computer hardware. This was a cutting-edge business at the time. But as anyone who has been in that business knows all too well, the profit margins on computer hardware were and are razor-thin. If you keep inventory, you’re almost assured to lose money on the sale of that inventory as new product comes out and drives the price down.
So Softron was moving along, surviving if not particularly soaring. With this in mind, Jake made the fateful decision to supplement the hardware income by doing tax preparation. A seed planted that would end up bearing ripe fruit.
Four years would pass with the tax preparation side taking more and more of the business, when Jake finally decided to incorporate the business at a full-blown tax preparation company in November of 1985.
The world of tax preparation at that time would be an alien one indeed to any modern observer. All returns were done by hand. Few businesses had those newfangled things called computers, and fewer still would trust them to prepare taxes. Here was an arena where Jake’s experience with computers would be invaluable. He knew well the capabilities, and what they could accomplish given the chance. So Softron forged new territory and was the first tax preparation company to use software to prepare returns in Canada, making it far quicker and easier to prepare returns than their competitors.
Fast forward to 1990, and the dawn of EFILE. This allowed tax professionals to not only prepare taxes using a computer, but submit them electronically. While preparing taxes on computer had become more accepted thanks to Softron’s leadership, most professionals were still skittish about filing the taxes electronically. But here again, Softron led the industry, not just in utilizing EFILE, but in reducing the wait time for discounted returns. Instead of the industry standard of 48 hours, customers could receive their refund instantly, another first for Softron.
Jake still was the driving force behind Softron, and still is. His wealth of experience in the financial and tax industry allowed Softron to be the first company in the industry in Canada to offer online tax courses to help forge the next generation of tax professionals. In fact, all the highly trained staff at Softron and TaxTron are themselves graduates of those courses, bringing that wealth of knowledge to customers across the GTA and beyond. And then in 2000, Softron became the first tax preparation company in Canada with its own in-house software when it acquired GriffTax and expanded it into the product known today as TaxTron.
Softron remains an industry leader with a focus on foreign property returns, as well as trust and estate returns to serve Canada’s aging population.
What does the future hold? No one can know for sure, but with Softron it’s bound to be a bright future indeed.