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Thomson Reuters iXBRL Solutions backed by AIMS Network

04 February 2011

LONDON, February 3, 2011 - The Tax & Accounting business of Thomson Reuters today announced that its Digita iXBRL solutions have won the support of AIMS, the largest group of independent accountants in the UK.

Henry Ejdelbaum, partnership managing director of AIMS believes that:

"Digita software, from the Tax & Accounting business of Thomson Reuters, will take the strain out of iXBRL – an initiative that I am confident will make life easier for businesses in the long run."

He explained:

"Because of a general mish-mash of information surrounding iXBRL, the focus has been on the burden of introducing iXBRL rather than the benefits of a sensible concept that is already working well in other European countries. We need to ensure that the messaging is right and that the profession sees iXBRL as more than just another government initiative in an over regulated environment. Let’s not forget that some regulation is useful."

The AIMS Network lists Digita, part of the Tax & Accounting business of Thomson Reuters, as a preferred supplier and recommends its personal and corporation tax solutions to members along with its accounts production software. Mr Ejdelbaum continued:

"85 per cent of our members use Digita Accounts Production and of the new accountants joining the network, Digita Accounts Production software is first solution they invest in."

The increase in take-up of specialist accounts production software is directly linked to the introduction of iXBRL as the technology allows for the automatic tagging of client accounts saving valuable time. Mr Ejdelbaum added:

"Our members will be able to provide the best possible service for their clients as a result of using sophisticated software that automatically ensures iXBRL compliance."

Jerry Rihll, managing director of Digita and head of the Accounting Firm market for the Tax & Accounting business of Thomson Reuters said:

"It is important that practices consider their options and needs before making a choice between a full accounts production solution and an interim solution. There are key benefits in using a full accounts production solution as it will integrate seamlessly with the whole process and ease the burden going forward. AIMS Accountants are exceptional in the service they offer to small and medium independent businesses and through a close working partnership, we look to deliver Digita solutions that are the best-in-class and most suited to their needs. This combination creates tremendous benefits for UK businesses; AIMS’ clients."

"The benefits of integration are well documented in terms of efficiency gains and increased productivity and as with the introduction of any new regime, automation will significantly reduce the cost of compliance. Errors are reduced through the links between systems and review time can be reduced as the system offers the practitioner certainty over data exchange."

Henry concluded:

"AIMS members are not worried by iXBRL: they know that they have the right tools for the job. AIMS are happy Digita customers."

With a diverse customer base that includes sole practitioners and Top 4 firms alike, Digita HMRC recognised solutions are fast becoming the brand of choice for accountancy practices. Whilst the Digita iXBRL solution focuses on the accounting firm market, the ONESOURCE iXBRL Accounts Production and Conversion solutions, which are both recognised by HMRC, are designed to meet the needs of multinational corporations.

Both Digita and ONESOURCE iXBRL Accounts Production and Conversion solutions are available now.

For more information on Digita and ONESOURCE iXBRL Accounts Production solutions visit: http://www.digita.com/pro/


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