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10 th International Conference

10 th International Conference. Brussels November 17, 2004 Aad Bergman. Agenda. Introduction The Challenge The Solution Summary. About Pro Management. Pro Management Group Pro Management Accountants Pro Management Administrations Pro Management Education Support

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10 th International Conference

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  1. 10th International Conference Brussels November 17, 2004 Aad Bergman

  2. Agenda • Introduction • The Challenge • The Solution • Summary

  3. About Pro Management • Pro Management Group • 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

  4. 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

  5. 50+ 10 – 50 2 – 10 employees Single body Target market • Auditing firms • Accountancy firms • Financial and tax advisors • From 1 to 100+ users • Standard solution • Out of the Box • Short implementation cycle • Minimal training req’s • Low Total Cost of Ownership

  6. RELATIONS EMPLOYEE DIGITAL FILE INTEGRATION PM CONSOLI- DATION PM REPORT PM PERFORMANCE MANAGEMENT PM FINANCIAL REPORTING PM BALANCE BASE PM ONLINE ANNUAL REPORTS FINANCIAL REPORTING COMMUNICATION PM MAIL PM FIXED ASSETS PM DOCMAKER PM TAX LINK PLANNING, PROGRESS, TIME RECORDING, INVOICING PM PROGRESS PM PLANNING PM AOIC PM INVOICE PM TIME PM AUDIT PLAN PM-RECORD

  7. Accountancy firms face Multiple Challenges !!!

  8. Competition Revenue Knowledge Education NL Taxonomy TAX Customer Sabanes Oxley Liability Costs Audit Programs Personnel Corres- pondence Prof. Assoc. WTA Invoices Internet Accounting Firm US GAAP XBRL IFRS IAS Time Recording Debtors Digital Tax Declaration Digital Files Audit Files ASP Productivity Banks

  9. 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???

  10. 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!

  11. XBRL Benefits for SME’s Future situation Tax Authority Customer Accounting Firm Stakeholders Business Operations Internal Financial Reporting External Financial Reporting Tax Reporting XBRL XBRL XBRL

  12. XBRL Benefits for SME’s Current situation Tax Authority Customer Accounting Firm Stakeholders Business Operations Internal Financial Reporting External Financial Reporting Tax Reporting Ledger Scheme Reporting Scheme TAX Scheme

  13. 250.000+ Ledger Schemes 200+ Financial Applications 7 tax applications Variety of other information requirements TAXONOMY AUDIT FILE XBRL 2.1 ……… ……… XBRL Benefits for SME’s Ledger Scheme Reporting Scheme TAX Scheme

  14. 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

  15. THANK YOU WWW.PROMANAGEMENT.NL

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