10th International Conference
Brussels
November 17, 2004
Aad Bergman
Agenda
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Introduction
The Challenge
The Solution
Summary
About Pro Management
• Pro Management Group
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Pro Management Accountants
Pro Management Administrations
Pro Management Education Support
Pro Management Accountancy Software
• Since 1987
• 45 employees in three locations (Rotterdam, The Hague
and Brussels)
• Pro Management Accountancy Software since 1996
PM Accountancy Software
• Fully integrated, organisation wide software solutions for
accountancy and professional services organisations
• Software is developed based on our own knowledge and
experience as an accountancy organisation
• Plus the knowledge and experience of over 400
organisations using our software
• Pro Management is pro actively involved in new
developments like XBRL, Taxonomies, Audit Files
• We are very eager to bring benefits to our customers
based on these new technologies and standards
Target market
• Auditing firms
• Accountancy firms
• Financial and tax advisors
• From 1 to 100+ users
50+
10 – 50
• Standard solution
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Out of the Box
Short implementation cycle
Minimal training req’s
Low Total Cost of Ownership
2 – 10 employees
Single body
PM-RECORD
PM
ONLINE
PM
REPORT
PM
BALANCE
BASE
ANNUAL REPORTS
PM
FINANCIAL
REPORTING
PM
CONSOLIDATION
PM
PERFORMANCE
MANAGEMENT
FINANCIAL REPORTING
COMMUNICATION
PM
DOCMAKER
PM
FIXED
ASSETS
RELATIONS
DIGITAL FILE
PM
MAIL
INTEGRATION
PM
TAX LINK
EMPLOYEE
PLANNING, PROGRESS, TIME RECORDING, INVOICING
PM
PLANNING
PM
PROGRESS
PM
AOIC
PM
AUDIT
PLAN
PM
TIME
PM
INVOICE
Accountancy firms face
Multiple Challenges !!!
TAX
Revenue
Competition
NL
Taxonomy
Digital
Files
IFRS
IAS
Audit
Programs
Liability
Sabanes
Oxley
Knowledge
Education
Time
Recording
Productivity
Accounting
Firm
Personnel
Banks
Customer
XBRL
Invoices
Prof.
Assoc.
WTA
ASP
Correspondence
Audit
Files
Internet
US GAAP
Debtors
Costs
Digital
Tax
Declaration
XBRL Challenges
• General feeling: XBRL - Not for me!
• Dutch Situation
– 7.000 to 8.000 accountancy firms
– 400.000 companies
– 200.000 - 500.000 (??)+ Finance professionals
• How many would know what XBRL stands for?
• Toy for business consultants???
• Only for internationally operating corporates???
XBRL Challenges
• What is the impact on small and medium enterprises
(SME’s) and how can we minimize the impact
• Main driver: regulation and legislation
• Majority of companies is not obliged to comply (for the
short term)
• Does this mean there is no impact for 95% of the market
NO
• External parties will require information based on XBRL
standards
– Banks, Tax Authorities, Shareholders, ……..
• So, get prepared!
XBRL Benefits for SME’s
Future situation
Customer
Business
Operations
XBRL
Accounting
Firm
Internal
Financi
al
Reporti
ng
XBRL
Stakeholders
External
Financial
Reportin
g
XBRL
Tax
Authority
Tax
Reportin
g
XBRL Benefits for SME’s
Current situation
Customer
Business
Operations
Ledger
Scheme
Accounting
Firm
Internal
Financi
al
Reporti
ng
Reporting
Scheme
Stakeholders
External
Financial
Reportin
g
TAX
Scheme
Tax
Authority
Tax
Reportin
g
XBRL Benefits for SME’s
Ledger
Scheme
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Reporting
Scheme
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250.000+ Ledger Schemes
200+ Financial Applications
………
AUDIT FILE
TAX
Scheme
XBRL 2.1
TAXONOMY
7 tax applications
Variety of other
information requirements
………
Benefits for SME’s
• Open and clearly defined standards based on
taxonomies
• Independence of (versions of) taxonomies
• Better understanding of information
• Improved flow of data through the information supply
chain
• Audit trail facilities
• Less reporting time
• Less internal and external costs
THANK YOU
WWW.PROMANAGEMENT.NL