Standardised Business Reporting (aka “SBR”) takes an important idea: that clear reporting definitions, applied consistently across government agencies can reduce red tape and make it easier to do business. Countries such as the Netherlands and Australia have been showing the way in this area for years. They have developed the necessary collaboration mechanisms to allow […]
Dutch banks ABN Amro, ING and Rabobank are leading the effort to shift corporate reporting to credit providers from paper to data.
Strong, consistent semantics, data provenance and standardisation are, almost universally, poorly thought out inside large organisations. This makes the business of government harder than it should be. The XBRL standard can assist with many aspects of these problems.
For anyone involved in digitisation of reporting at a government level or that is embracing standardisation to simplify reporting across a supply chain, the principle of Standardised Business Reporting, or SBR is something they will come across, but perhaps need to understand at a deeper level. Now there is a book aimed at data architects and […]
XBRL EU SBR Working Group. XBRL Europe has launched a new Working Group, co-chaired by Frans Hietbrink from XBRL Netherlands and Elina Koskentalo from XBRL Finland, to identify and provide guidance on best practices regarding the implementation of Standard Business Reporting. The overall focus of the group will be to educate those involved in the business reporting supply […]
There is proven phenomenon of countries without significant telecommunications infrastructure “leapfrogging” landlines and moving straight to a robust mobile network. Could business reporting work the same way? Business reporting in Tunisia is currently paper based and not particularly comprehensive, but the government in Tunisia is actively seeking foreign investment and is under pressure to enact […]
We’ve got some more news from our friends at the Data Coalition in the US this week. Their research arm, the Data Foundation, is publishing a paper in cooperation with PwC on Standard Business Reporting. An excerpt shared this week highlights the potential for SBR to reduce some of the costs to business for regulatory […]
In September we let you know about the projected A$1.2 billion in savings from Standard Business Reporting in Australia. Now the Australian Taxation Office Annual Report is out, confirming that amount, which is 50% greater than the original business case projections. That result certainly makes a compelling case for SBR, which has also been put to […]
Fintech-driven technology and process improvements are revolutionising the way information is collected, managed, published and used. Collaboration is key to making it all work.