IBM Core Services IT platform

IBM has delivered the Core Services IT platform that supports the Australian Government’s Standard Business Reporting (SBR) initiative, which aims to save businesses time, money and effort through the provision of an online reporting capability.

Businesses across Australia can use the streamlined reporting processes that enable them to prepare and lodge statutory reports such as Business Activity Statements and financial statements faster, cheaper and more accurately.

The deployment of the platform supports the government’s Standard Business Reporting (SBR) initiative through the provision of an online reporting capability.

The platform is one of the five critical components of the SBR program, which creates a system through which reporting information can be processed across multiple state and federal jurisdictions.

Similar to an electronic postal system, SBR’s core services will enable businesses and their intermediaries to securely submit their regulatory reports to government directly from their accounting software.

The platform uses an international business reporting language called XBRL based on a services-oriented architecture. Examples of the reports that are within SBR’s current scope include Business Activity Statements and PAYG returns (ATO), financial statements (ASIC) and payroll tax (State Revenue offices).