More than 45,000 organisations in the UK rely on IRIS software, including business sectors as diverse as finance, construction, logistics, higher education, national hotel chains and high-street retailers.
All these organisations share a common need to improve productivity and efficiency, to cut their costs and to improve service to their customers or stakeholders. IRIS enables them to achieve these goals with iXBRL-compliant accounts production software, RTI payroll, business tax software and outsourcing services.
IRIS Accounts Production helps corporate finance teams to gain greater control by producing statutory end-of-year accounts in-house, substantially reducing their costs without adding to the workload.
Already used by thousands of businesses and accountancy firms across the UK, the software provides a structured, guided process for fast, efficient completion of a single or multiple sets of iXBRL-compliant accounts. You can generate accounts in your corporate house style with minimal user intervention and submit them to Companies House at the touch of a button.
The software intelligently generates applicable notes and disclosures. Any changes subsequently made in the accounts are carried through to the notes and are rolled forward to the following year for increased efficiency.
IRIS Accounts Production currently provides formats to both UK GAAP and IFRS, and includes an automated report that shows the comparison between the two.
IRIS Business Tax similarly generates fully tagged iXBRL format computations automatically. In addition, using IRIS Corporation Tax with IRIS Accounts Production saves time by minimising data entry and ensuring consistency between your tax and accounts work.
Consider IRIS OpeniXBRL if you need to intelligently tag accounts produced in Microsoft Word or Excel to meet statutory requirements. This cloud-based service is accessed via a standard internet browser. Just upload the Microsoft Word or Excel document and IRIS OpeniXBRL will automatically tag 70% to 90% of items in your accounts, using the relevant taxonomy (UKGAAP or IFRS), ready for you to review and send to HMRC.
With a unique 'learning engine', IRIS OpeniXBRL makes smart, predictive tagging decisions, which are recorded to further accelerate tagging in subsequent years.
Alternatively, you can leave the tagging to IRIS, using our outsourcing service IRIS OpenResourcing. Simply provide IRIS with a Microsoft Word, Excel or PDF document. After tagging to the required iXBRL format, accounts are reviewed by experienced accounts professionals and validated to ensure they will pass through the Government Gateway. You receive a complete copy of the validated accounts ready for submission, along with a Microsoft Word copy of the accounts incorporating the tags.
IRIS OpeniXBRL is part of a broad portfolio of IRIS outsourcing services for corporate finance departments. Please see below.
IRIS Company Secretarial automates the important but essentially routine duties of the company secretary, helping your business to comply with statutory requirements.
The software automatically triggers relevant Companies House forms and minutes for company activities, populating the relevant forms with data you've already entered into IRIS Accounts Production and IRIS Business Tax, and prompting the user to complete any gaps. The integrated share register automatically produces all share certificates and dividend vouchers.
The IRIS OpenDocs document management solution makes going paperless a reality, freeing up valuable office space and giving everyone in the department secure, centralised access to the latest versions of your documents. The solution automatically stores and retrieves all your statutory accounts documents and captures every email and all outputs from IRIS software.
IRIS OpenDocs can streamline the way your department handles high volumes of purchase invoices. It can capture, extract and validate invoices as they arrive, and translate locked-in information into digital data. By integrating with your in-house ERP system, this forms the basis for an automated matching and workflow-based authorisation process.
Your business eliminates labour-intensive manual operations, shrinks its carbon footprint and reduces the expense of paper, printing and postage, as well as removing hidden operational costs of indexing, document separation and data extraction.
IRIS Payroll Software supports payrolls of up to 10,000 employees. Our highly flexible SQL-based EARNIE IQ payroll software has been developed to meet the needs of busy IT and payroll departments and is suitable for the most demanding payroll requirements. It's ideal for businesses that are standardising on SQL or looking for a robust payroll system.
We have specialised in payroll for more than 20 years and our payroll software is currently used by more than 25,000 companies in the UK. IRIS payroll software is HMRC Recognised and RTI Ready HMRC for when Real Time Information submission become compulsory for businesses starting in April 2013.
IRIS can help you to increase productivity without increasing your headcount and accommodate the peaks in workload that can affect any business. Our outsourcing teams work hard to build a close relationship with your business.
IRIS OpenResourcing offers services such as accounts, tax, bookkeeping, VAT and, as outlined earlier, iXBRL tagging. With agreed upfront costs and a 24-hour web portal giving secure access to your jobs, you stay in control while benefiting from experienced help when you need it. Importantly, IRIS OpenResourcing complies with UK data protection laws.
IRIS Managed RTI Payroll ensures you are legislatively compliant while paying staff accurately and on time. We use our own market-leading, HMRC accredited EARNIE payroll software as the basis for a fully managed, tailored service. We can also take on the responsibility of answering employee queries and liaising with third-party agencies. One in ten private UK businesses relies on IRIS software to pay their employees.
IRIS Software Group has more than thirty years of experience of providing customers with business-critical software and services. To find out more about the solutions and support that IRIS can offer your business, please call 0844 815 5718 or visit the company's website.
Can’t Get the Staff? Alternatives to Permanent Recruitment for Corporate Finance Teams This white paper considers some of the options open to businesses struggling to recruit finance professionals.
iXBRL Compliance: Overhead or Opportunity? As well as all the day-to-day pressures of supporting their business, corporate finance departments face the additional burden of having to comply with an increasingly stringent regulatory framework.
Control, Cost and Compliance: Benefits of Insourcing and Automating Some corporate accountants prefer to keep the task of accounts production at arm's length, fearing the added workload, especially when resources are already stretched.
Demystifying Compliance: a Look at the Impact of iXBRL, RTI and IFRS The shifting framework of governing financial reporting has brought major process changes in the accountancy world.