hsp enters into a partnership with Creditreform
hsp Handels-Software-Partner GmbH and the Creditreform Group are entering into a partnership: the taxonomy software Opti.Tax hsp is introducing an interface for submitting annual accounts and trading balance sheets in XBRL format to Creditreform for further processing. The new feature is expected to be available to the software’s customers as early as December.
The Creditreform Group is the market leader in the field of business credit reports and one of the leading providers of marketing data and receivables management solutions in Germany. Creditreform has almost 130,000 companies as members and customers. For its credit information products, analyses and ratings, Creditreform utilises a modern IT infrastructure as well as high-quality, structured information sourced through various channels, which guarantees the highest levels of security and up-to-date information and is based on the world’s most comprehensive database of German companies.
Creditreform already offers financial institutions the capabilities of the Digital Financial Report. Via the Opti.Tax interface, annual accounts from the hsp software can be structured and automatically imported into Creditreform’s balance sheet recording and analysis tools in the same way as with the Digital Financial Report, and processed in accordance with the highest quality assurance and auditing standards. Complete annual accounts enhance Creditreform’s exclusive database and, compared with an abridged presentation of published annual accounts, enable an even more informed assessment.
The interface enhances the value for customers
„For us, the question was what else could be achieved with taxonomy-based software and how we could increase the added value for our customers,“ said Paul Liese, Managing Director of hsp. The range of features offered by Opti.Tax includes, amongst other things, to prepare annual accounts and E-balance sheets to send at the touch of a button. The interface with Creditreform was therefore the logical next step.
Businesses and tax advisers benefit from the partnership
Both businesses and tax advisers benefit from this collaboration. Companies can use proactive financial communication to enhance their public image and have the opportunity to be listed in Creditreform’s business credit reports. A good to very good credit rating enables businesses to engage more actively and transparently in their business relationships with existing suppliers, customers and lenders. It also allows them to demonstrate financial stability when establishing new business deals and partnerships.
In addition, companies can Obtain financial statement ratings from Creditreform Rating. This is a professional, external risk assessment based on information from the annual financial statements. The balance sheet rating provides a very good insight into how one’s own company is assessed by third parties (banks, lessors, etc.). If the balance sheet creditworthiness is particularly good, there is the option of certifying the company with CrefoZert. With CrefoZert, companies can demonstrate their stability and creditworthiness to business partners and set themselves apart from their competitors through an additional communication tool. This is because CrefoZert stands for stability, reliability and trustworthiness.
Tax advisers and auditors can also benefit. Thanks to the partnership between hsp and Creditreform, they have the opportunity to offer new services as part of their consultancy work.
Opti.Tax’s new interface will go live with the November release. From December, all users of hsp software will then be able to make use of the new range of services.
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