Managed tagging services

I'm in the middle of writing a guide to managed tagging services - covering why you would go this route and the types of service that are available. Some of the people I've talked to and uncovered so far include:

  • Data Tracks
  • IRIS (via IRIS OpenResourcing)
  • Simply iXBRL
  • Arkk Solutions (who cater for practitioners in league with Tax Calc)
  • Big accountancy firms: E&Y, KPMG and several other top 20 players
  • LexisNexus
  • Tax Computer Systems Ltd

What other services are there out there? I would welcome feedback from suppliers or anyone who has investigated the services provided. What sorts of facilities were offered (eg send them a set of Word accounts and wait for the tagged file to come back, or more involved/collaborative processes). What are the costs involved?

And finally, what are the reasons for choosing this route? Is it a stop gap to get firms over the transition to efiling, or is there likely to be a long-term market for these services?

If you're a practitioner, have you considered extending your services in this area: since you are likely to be doing this for existing clients, might this be a way of attracting new business clients?

While my article is being written now, the conversation can continue here for long afterwards.

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1stopXBRL's picture

1stopXBRL

1stopXBRL | | Permalink

 

Good Day.....

I am the Chief Executive of 1stopXBRL (www.1stopXBRL.com) an HMRC recognized Managed Tagging Provider. We are part of the DG3 group, a global provider of time sensitive financial documents. www.dg3.com. In 2005 I was responsible for setting up an offshore solution for our group to handle EDGAR conversions in our offshore operation based in Manila. We now produce thousands of pages of EDGAR and XBRL submissions for our clients to the SEC for our North American office.

 

I am currently back in Manila setting up a brand new unit to offer a very cost effective iXBRL conversion service for Word, Excel and PDF. It will be a web based drop off and delivery service. In the UK we are based in Canary Wharf and I was wondering if anyone out there would be interested in following my progress and hearing about the challenges of setting up our iXBRL offshore solution, such as staffing, technology choices, quality control, validation and security.

My major hurdle was to come up with a sustainable realistic price for iXBRL conversion to capture single entities and larger corporations with multiple conversions.... We will be shortly publishing our new pricing and with this in mind and I would be very interested to here feed back to what is considered a realistic price for conversions?

 

Many thanks in advance

Dominic Whellams

 

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