“Atos Origin signs agreement with Dutch government for standardization of financial reporting”
Utrecht, 15 June 2006
Solution creates a single point of entry for timely and accurate financial reporting
Atos Origin has signed a covenant with the Dutch government to standardize the financial reporting of businesses to the government. The government and a number of parties collaborate to optimize financial reporting by the supply of reliable financial information, based on a simple classification of terms. This is also called taxonomy which enables considerable savings regarding annual reporting, and transactions of tax declarations and economic statistics.
From 1 January 2007, businesses in the Netherlands are required to submit financial reports to official bodies such as the tax office, the Central Statistics Office and Chambers of Commerce electronically using a standard language. This is made possible using the Government Transaction Portal (GTP), which will ensure that each report reaches the correct authority or department. Atos Origin has developed a standard solution, with which companies will be connected directly to GTP and able to comply easily and efficiently with the new international reporting rules. The covenant is signed by Minister Donner from Justice, Minister Zalm from Finance, Minister Pechtold from Government Reform and secretary Van Gennip from Economic affairs.
The stimulus for this covenant between the Government and a number of market parties is the so-called Netherlands Taxonomy Project (NTP), a programme designed to cater for the electronic submission of reliable financial information, based upon a clear classification of concepts. The system is known as 'taxonomy'. The Government Transaction Portal will undoubtedly significantly lighten the administrative burden of taxation on the Government, but does not as yet provide for a link with business.
As one of the principal partners in NTP, Atos Origin has put its experience in devising information chains to work, and developed a software solution with which companies can submit the required reports to the correct bodies or departments using a single point. The solution guarantees correct delivery of financial reports at the right time, as well as the integrity of the sender's entity and the reliability of data. If needed, reports can be translated, so that companies can prepare in stages for the changeover to new international regulations in the field of financial reporting.
An intelligent standard procedure
“Atos Origin is a major player in the NTP project and, as a system integrator, is convinced this initiative will be a success. Using this standard solution for financial report chains, companies will be able to hook up easily to the GTP. In this way, financial data can be easily exchanged between businesses and the Government using a standard language - Extended Business Reporting Language (XBRL). The Government gets reliable and transparent insight into companies' financial performance, while business is put in a position to satisfy the new rules on financial accountancy”, says Pieter Buijs, CTO at Atos Origin in the Netherlands. “The link to GTP is no longer a time-consuming individual effort with all its attendant risks, but instead a comprehensible standard procedure, with which both government and businesses will benefit from the support Atos Origin is able to offer.”
About Atos Origin
Atos Origin is an international information technology services company. Its business is turning client vision into results through the application of consulting, systems integration and managed operations. The company's annual revenues are EUR 5.5 billion and it employs over 47,000 people in 40 countries. Atos Origin is the Worldwide Information Technology Partner for the Olympic Games and has a client base of international blue-chip companies across all sectors. Atos Origin is quoted on the Paris Eurolist Market and trades as Atos Origin, Atos Euronext Market Solutions, Atos Worldline and Atos Consulting.
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|Jose de Vries
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