CaseWare UK, the Kent-based subsidiary of the Canadian accounting software house, celebrated a its iXBRL-driven growth spurt in 2011 by moving into new offices in Maidstone last week.
The company built on its experiences serving American organisations that file accounts in XBRL to offer similar services in the UK, particularly among companies that decided to bring their accounts production work in-house to cope with iXBRL.
UK managing director Simon Warren said the need to file iXBRL format accounts with their Corporation Tax returns from April 2011 triggered serious corporate interest in accounts production that the company was well positioned to serve.
“People were really nervous about iXBRL. We identified the prospects and made a point of giving them a clear explanation of what it is. That went down well,” he said.
CaseWare’s core business is still in the practice market, but for the moment corporates represent 40% of new business, Warren said. “Many organisations made quick decisions to deal with iXBRL in the first year, and will look at software solutions more seriously when they have more time.”
About John Stokdyk
John Stokdyk is the global editor of AccountingWEB UK and AccountingWEB.com.