iXBRL pilot with CVO and DUO

Taxxor is proud to have successfully completed a pilot project in collaboration with CVO, a consortium of secondary schools in Rotterdam and its surrounding areas, to produce their annual report in Inline XBRL. This project, carried out with the support of CVO’s shared service center, utilized the OCW taxonomy and involved close collaboration with multiple stakeholders, including DUO (the receiving party), the auditor Flynth, and various departments within the organization.

A Collaborative Effort

The project brought together key players across communication, finance, and control teams within CVO, resulting in an efficient and innovative approach to reporting. By leveraging Taxxor’s powerful capabilities, the team was able to align their processes seamlessly and deliver a high-quality, compliant annual report.

Highlights from the Collaboration

• Design Consistency: The communications team successfully replicated the existing InDesign design within Taxxor, maintaining the visual integrity of the report.
• Efficiency Gains: The control team emphasized the time-saving benefits of the solution, noting that once the process is set up, it’s almost ready for future years. They also appreciated the ability for all teams to work collaboratively within a single document.
• Streamlined Processes: Project Leader Mark Somers noted the improved efficiency and reliability, stating, "It’s great to see how the existing process of concepts, reviews, and improvements has been transformed into a more efficient, reliable, and predictable workflow."
  

Bridging the Gap Between Stakeholders

A unique aspect of this project was the close collaboration between the reporting entity (CVO), the receiving party (DUO), and other stakeholders. The CVO team highlighted this synergy, stating, "This was a great project where the requester (DUO) and provider (CVO) worked together. It’s reassuring that Taxxor can modularly process all types of data, not just financial, and produce both technically and human-readable outputs."

Taxxor’s Potential for Education Sector Reporting

This project demonstrates Taxxor’s suitability for supporting annual reporting processes in the education sector. The OCW taxonomy is now readily available out-of-the-box in all Taxxor environments, enabling other educational institutions to adopt Inline XBRL reporting with minimal effort.

Advantages for the Education Sector

• Simplified Transition to Inline XBRL: With Taxxor, other schools and institutions can easily adopt Inline XBRL reporting, reducing the complexity and effort required.
• Preparation for CSRD Reporting: The transition to CSRD (Corporate Sustainability Reporting Directive) reporting is now a small step away, as it can also be handled via Taxxor in Inline XBRL format.
  

Looking Ahead

As CVO shared, "We’re ready—now it’s up to the receiving party to align fully!" The success of this pilot highlights how Taxxor bridges the gap between organizations and stakeholders, ensuring a smooth and efficient reporting process for all involved.

If you’re an educational institution looking to simplify your annual reporting or prepare for CSRD requirements, Taxxor is here to help. Contact us to learn how we can support your reporting journey.

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