Standard Business Reporting: high-quality data and reliable reports
Given the amount of data available today, organizations are looking for ways to turn that data into valuable information and reduce administrative burdens. Traditional reporting methods using ad-hoc spreadsheets are no longer enough, data is often outdated and collecting and analyzing it takes too long. In the financial services sector alone, businesses spend up to 10% of their annual revenue crafting compliant reports for a patchwork of divergent regulatory bodies.
Standard Business Reporting (SBR) sets a standard for the digital exchange of business reports, ensuring that companies can access and report on structured information. It helps you make informed decisions based on real-time, validated data.
With SBR, data is exchanged between parties using a common structure and established definitions. As a result, (financial) data is standardized, digitally transferred and processed automatically. The standard structure and definitions in SBR are determined using an XBRL taxonomy. This taxonomy is like a dictionary that provides context and extracts information from data. In short, SBR helps all parties in the reporting chain speak the same language, resulting in a clear interpretation of data and higher data quality.
Visma Connect spearheaded the design and implementation of the Netherlands’ SBR program, which has earned two European Best Practice awards. We design, develop, host and maintain Digipoort, the Netherlands’ electronic post office for SBR, processing millions of tax declarations, financial reports and reporting messages between businesses and government institutions.
Who is this for?
- Financial institutions like banks, insurance companies and treasury companies;
- Intermediaries, such as accountants and tax specialists who submit client reports to bodies like the tax authorities, insurance institutes and chambers of commerce;
- Companies that submit reports to the authorities and among themselves.
Visma Connect SBR Platform
The Visma Connect SBR platform standardizes digital and unstructured data flows for governments, authorities and businesses. Our platform reduces administrative burdens and helps you turn data into insights. The platform provides authentication and data validation, both for system-to-system (S2S) or human-to-system (H2S) message traffic.
More insights at lower costs
Visma Connect makes the automated transfer and validation of data simple. Information is readable for software applications immediately. This helps you gain significant cost savings and reduces the burden of collecting and processing company information.
- Real time data validation: Get structured data in a secure way, with the click of a button;
- 100% compliant: Our services ensure compliance for government institutions and companies, meeting the highest quality standards;
- Lower administrative burden: Visma Connect simplifies and automates your financial reporting process;
- Data integration: Data from different systems can be combined in our SBR platform. This prevents costly systems integrations.
The Visma Connect SBR platform can be integrated with your systems in two user-friendly ways:
- System-to-system (S2S). Using a software interface between your customers’ accounting software and your systems, your customer’s data is entered into the portal securely, in a structured and automated way through the click of a button. This solution is particularly interesting if you have customers or intermediaries who send you reports regularly or in large numbers.
- Human-to-system (H2S). Using SBR Easy Access, our taxonomy-driven web portal, users can fill in their data and submit SBR-compliant reports. Data is validated against our taxonomy and submitted to regulatory bodies.
Say goodbye to reporting variability and ease administrative burdens. Visma Connect is the foremost supplier of tools, taxonomies and expertise for information and data exchange. Use the contact button below or call us and ask for René van der Meij.