GovReports Press Release in Invest in Australia

Posted on 08 June 2011

Australian company Impact Management Group Innovates Second SBR Product - GovReports
Impact Management Group(eIMPACT) has launched GovReports, their latest Standard Business Reporting (SBR)-Enabled product, after releasing Australia's leading SBR integrated online accounting software, Interactive Accounting Manager (IAM) last year.

IMG a ten year old tax specialist and professional services firm started off building solutions for their existing clients but soon found that "we became really good at what we were doing". An accounting solution simplification project became IAM and when the Federal Government started the Standard Business Reporting project in 2007, IMG was one of the first companies to put their hands up for implementation. Not only IMG was the first company to successfully integrate SBR into accounting software in the world, they were also first to market it.

"It's a sense of achievement that you start of in a line with some of the industry giants in the accounting world and it's the small guy that comes out first. It's a classic David vs Goliath." says Tiana Tran Marketing Director of Impact Management Group.

"With IMG, we are closer to the ground listening to our clients who are small businesses, accountants and book keeper. We know what they look for in solutions. Which is when we realised that there was a dire need for an SBR product for the public. Installed software locked into accounting software installed on computers was just not cutting it. People just didn't care to install another software or change their existing product. We decided that the market needed GovReports to increase the uptake of SBR."

GovReports is cloud-based and will initially be available with Tax File Number Declaration, Activity Statements [IAS/BAS] and PAYG Annual Summary Annual Report lodgement.

"Anyone with an AUSkey can immediately register for free and start lodging their TFN, BAS or PAYG Annual report. It's online, simple and available wherever you are. There is absolutely nothing to install and it is as easy and secure as using your Internet banking or online shopping. Think of it as a one-stop shop for all government forms in a single site. " Says Tiana Tran, Marketing Director of Impact Management Group(eIMPACT).

"There is no need to change your existing accounting software. GovReports can be used together with any accounting software that produces a BAS report. This saves business owners a lot of cost in obtaining SBR-enabled accounting software on top of their existing accounting solution. Added to this is the benefit of GovReport's zero installation. Let's face it, nobody wants to sit and install another piece of software just do the lodgement. With GovReports, you register and start lodging immediately."

GovReports also provides Tax Agents and Advisers their single portal for lodging on behalf of their clients. Using BAS/Tax agent AUSkey, they can manage, queue and lodge on from a single location. Tiana Tran added "We pioneered Intermediary Lodgment on SBR, and now we have made it better. This is a huge time saver for advisers".

"By providing reminders for lodgment and an efficient lodge-from-anywhere facility, we are actually helping advisers ensure their clients don't get caught in late lodgements and thereby avoiding heavy fines from ATO. In addition, our queuing facility works even when ATO services are down, as advisers don't have to sit and wait for their BAS to go through. GovReports is notch above any existing lodgment software."

GovReports is designed to bridge the existing gap in accessing SBR forms by registered AUSkey holders. Forms to be released in the near future are OSR Payroll Tax for all states and territories, ASIC as well as Company Tax Return.

Impact Management Group is happy to release GovReports with all features and services available to be used for lodgment free without limitations by businesses and accountants till December 31st 2011.

For more information regarding GovReports, please contact Tiana Tran on 02 8677 9669 or visit the website at http://www.govreports.com.au

GovReports is dedicated to provide government reporting lodgment solutions for business and or accounting professionals. As the only vendor today offering Standard Business Reporting (SBR) using cloud technology, delivering a reliable, faster and cheaper way of reports lodgement.