1StopXBRL case study | Testimonials

About 1StopXBRL

1StopXBRL is a leading global provider of time sensitive financial documents, in the UK preparing and converting statutory accounts and tax calculations into iXBRL instance documents ready for filing to the HMRC and Companies House. Legislation from HMRC, which came into force on 1 January 2010, means that it is compulsory for companies to send their Company Tax Return online using iXBRL for accounts and computations.

Project background

In the UK, 1StopXBRL was positioned to enter a market which was brand new with no existing facilities for servicing. There are 2.2 million organisations in the UK needing to find a solution and if capacity is not booked then HMRC requirements will not be able to be fulfilled on time. Accounts production software is unproven, with many accounts completed in Word or Excel - no automated solution exists for them.

The Telemarketing Company was selected to provide a campaign to capitalise on this opportunity by providing high quality leads with the top 100 Accountancy practices in the UK (turning over between £1.5m and £500m), Investment Trusts and the UK’s top 700 Company Secretaries.

Project execution and results

The Telemarketing Company worked carefully with 1StopXBRL to plan and execute a campaign which has now extended beyond its first remit.

The biggest obstacle to producing results was identifying the decision maker. This is a specialist field and requires someone with the requisite knowledge. In the Accountancy practices (who are in effect “middle men”), someone would have been tasked with finding a solution. In other organisations, it was assumed that Company Secretaries would either be responsible or at least know who was, as it is their job to ensure that their company complies with legal requirements. Once found, they needed to be reassured that they were speaking with a credible supplier if they were to disclose commercially sensitive information.

The Telemarketing Company started with a day’s trial calling, so that 1StopXBRL could have a feel for what results were likely and the type of information that could be garnered. Following the success of the trial the project was quickly changed to a more permanent engagement.

Using call recordings and regular feedback from 1StopXBRL, The Telemarketing Company has to date produced 50 Sales Leads across all three sectors, with Senior Decision Makers in Tax, Audit, Legal Counsel and Finance among others. Of particular interest is the volume of sensitive information that an unscripted approach has elicited from these contacts.

Client Testimonial

"I was impressed with Nicola and her team. They were very professional and the results delivered were beyond our expectations. We will definitely use this company again for future campaigns and I have no hesitation in recommending them. You will not be disappointed.”

Strategic Director, 1StopXBRL

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