In this issue. Don t let printing costs get out of hand! The new ISO/IEC 27001: 2013 standard.

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1 The publication of the AITUK, the association for Accountancy IT Directors February 2014 In this issue Don t let printing costs get out of hand! The new ISO/IEC 27001: 2013 standard

2 Jim Greenfield Welcome 2013 was another very successful year for the AIT. We had three technical meetings with a diverse range of speakers and topics. The annual conference was also extremely well received by member firms and sponsors alike, with two days of informative discussion, and time to relax and learn from our peers. The IT Directors annual lunch took place on Wednesday 12th February within the Lord s Cricket Ground Pavilion. Despite heavy flooding and tube strikes the afternoon was well attended with some fruitful discussions plans to build on this success, and the schedule of events is listed on the AIT UK website. The 24th March and 12th June technical meetings will run similarly to those in 2013, but with different suppliers and firms being invited to present their latest updates to the group. The annual conference on 18th-19th September is being held at the same venue as last year, we felt it worked well for the group size and sessions we run. As before the conference will provide a blend of conference sessions and break out discussion groups. Once again I would like to thank you for your support and look forward to seeing you at this year s events. Contents Don t let your organisation s printing costs get out of hand! Thomson Reuters Case Study The new ISO/IEC 27001: 2013 standard and why it s good for your business Are you to the AIT? The AIT group on LinkedIn is a private discussion group only open to paid-up members AIT (accountancy firms and suppliers). Other LinkedIn users cannot access the group or see posts. The group provides a facility for members to ask technical questions and seek advice. If you are not part of the group please emma.jones@aituk.co.uk for an invitation. 6 Event Schedule 2014 PortrAIT is published by PSITUK Ltd. You may print or forward PortrAIT to other parties providing it is not changed or amended in any way. All content remains copyright of the publisher and/or authors. No content may be reproduced in any other form without the express permission of the publisher. The views expressed in PortrAIT are not necessarily those of the publishers. The publishers accept no responsibility for the accuracy of the information within this publication, but will endeavour to publish corrections if information is subsequently found to be inaccurate. If you are concerned about the accuracy of an article please contact the publishers (details below). PSUKIT Ltd is registered as a company in England and Wales, registered number Contact for all enquiries: info@aituk.co.uk Tel: #AIT_UK 2

3 Don t let your organisation s printing costs get out of hand! Some organisations give their employees the licence to print freely, where they can print whatever they want, how they want (in colour or black & white, single or double side ). However, this free printing strategy can have a staggering impact on print related costs including paper, toner, cost of maintenance and support. In today s document intensive organisations, employees can print on average 60 pages a day or 12,000 sheets a year. Multiply this by the total number of employees in a single firm and you can get an idea of the impact. Add the indirect expenses mentioned above and you will find these costs mounting up to 3% of your total profit*. Whatever the size of your firm, the deployment of print management software will provide you with an accurate insight on activities on a global, departments or user level: who is printing what? For what customer, if any? On which device? This will form the basis for making informed decisions to optimise the print infrastructure and keep costs down. That s not all. Research has shown that as soon as a user is aware that their prints are being tracked, the number of documents printed drops significantly. In addition, print management solutions provide specific functions such as rule based printing. When implemented, users are, for example, automatically defaulted to printing all s and internet pages in black and white and in duplex and still have the choice for the other documents. An automatic re-routing action can direct large print jobs of over 15 documents to larger, more efficient printers that may exist in the organisation which are equipped to handle these volumes. This alone can save firms up to 25% on print related costs and effectively changes the user s printing behaviour. Pull printing, is increasingly implemented as it can reduce the printing volume by up to 15% and improve document security at the same time. Rather than being printed off immediately and left in the tray to be picked up or in many cases abandoned, documents are only released upon user authentication. Users therefore get a second chance to decide whether to print the job or delete this from the printer server if it is no longer required. Additionally it ensures that the printed document is retrieved by its rightful owner, which is essential in an environment where the information must remain confidential. The cost recovery feature provided by the most advanced print management solution, tracks and monitors print related expenses and automatically allocates them to a project or a department re-billing to help track costs. When linked to an accounting system, such functionalities can go as far as automating the invoicing procedure, effectively transforming the multifunctional printer from a cost centre into a revenue source. Ultimately print management is about reviewing and controlling the entire print environment, driving users to change 3 their printing habits and become more cost efficient or environment friendly. The benefits are almost instantaneous and over time, firms can reduce costs by up to 40%, thus boosting their profit levels. *IDC research 2012 Copitrak is a reference solution in cost recovery and expense management. Copitrak ensures clients can effortlessly improve cost control and maximize recharge rates. Copitraks range of tools and software includes modules for Copy, Print, Secure Print, Scan Routing to /document Management Systems with OCR, Expense Management, Print Room Management Workflow, Telephony and Blackberry tracking, all of which are geared to deliver 100% payback within a few months. SafeCom Smart Printing offers a modular approach to control and optimise imaging and printing activities. It helps businesses cut costs, increase efficiency, enhance security, reduce waste, and protect the environment and works with all types of printers and MFP devices across small, medium and large multinational firms. For more information contact: Nila Hirani

4 23722 Digita Personal, Business and Trust Tax Digita Corporation Tax Digita Corporation Tax Advanced PARTNERS OFFICES SERVICES SOFTWARE LOUISE FOX TAX MANAGER, PRICE BAILEY CASE STUDY Digita Corporation Tax Advanced is the one application that can do everything. One of the top accounting firms in the UK, Price Bailey, relies on Thomson Reuters software to manage corporate tax compliance for a broad range of clients. The tax computation can be as simple or as complicated as you like Digita Corporation Tax is used to handle straight forward affairs and Digita Corporation Tax Advanced deals with more complex calculations and returns for international clients, trading and investment companies, multi trades and REITs. Digita Corporation Tax Advanced is powered by ONESOURCE, the Thomson Reuters corporate tax reporting solution used by several of the Big Four accountancy practices, hundreds of larger UK and multinational organisations, and is integrated with the rest of the Digita Professional Suite. Louise Fox, tax manager, is a member of the tax consulting team in the Cambridge office of Price Bailey and advises on complex areas of UK corporate, business and private tax. Louise has been using ONESOURCE Corporation Tax, which provides the core computational and reporting functionality of Digita Corporation Tax Advanced for four years and finds the solution flexible and easy to use, courtesy of a simple layout that provides quick access to features within the application. Because the solution is Excel based, it is intuitive and it doesn t take long for someone to pick up and prepare a tax computation. Louise said. The automatic calculation of capital gains is one of the features Louise highlights as it reduces manual input and calculation time: We add the information and it automatically picks up part disposals and substantial shareholder exemptions and calculates the capital gains. There are numerous options to develop Capital Gains Tax schedules which saves time, rather than prepare and enter them ourselves. Demands around corporate tax compliance are increasingly complex in today s changing regulatory environment and the use of Digita Corporation Tax Advanced gives Price Bailey the confidence that its tax processes are robust, accurate, and reliable. The software s ability to detail expenses and clearly show what is disallowable and allowable, especially in the case of very large clients, is an advantage. Digita software details profit and loss, making it possible to see at a glance where a number is derived from. A fully tagged detailed profit and loss account can be used to share data with other areas of the software, providing a link between figures seen in the financial statements and those in the tax computation. Louise adds, Digita Corporation Tax Advanced is the one application that can do everything. The tax computation can be as simple or as complicated as you like. Contact us Telephone: TAX & ACCOUNTING 4

5 The new ISO/IEC 27001: 2013 standard and why it s good for your business Richard Dallimore, Head of IT Risk at Baker Tilly The revised standard The revised version of ISO27001 standard was released in September 2013 and replaces the ISO27001:2005. It s published by the International Organisation for Standardisation (ISO) and the International Electrotechnical Commission (IEC). The new revision of the standard puts more emphasis on measuring and evaluating how well an organisation s Information Security Management System (ISMS) is performing. It contains a new section aimed at outsourcing, which reflects the fact that many organisations rely on third parties to provide some aspects of IT. Overall, the new 27001:2013 is designed to fit better alongside other management standards such as ISO 9000 (quality management) and ISO (IT service management), and has more in common with them. The main changes in the standard are: The new standard structure has more in common with new management standards. This will allow easier integration when implementing more than one management system. Risk assessment requirements are aligned with ISO (risk management) The Statement of Applicability requirements are similar, but with more clarity on the need to determine controls highlighted by the risk treatment process. Annex A has been modified to reflect changing threats, remove duplications and have a more logical grouping. Specific controls have been added around security in supplier relationships, specific controls for mobile devices and identification theft. Far more emphasis on monitoring the effectiveness of your ISMS and performance metrics. For organisations that are already ISO27001 certified, they have 2 years to upgrade to the new standard. 5 Why would an organisation go through ISO27001 certification? Compliance. ISO27001 is the only auditable international standard which defines the requirements for an information security management system. ISO helps to protect information assets and give confidence to interested parties and clients by providing through accredited certification that your systems are compliant. In addition ISO certification often negates the need for in-depth client audits. This means a drastic reduction in the number of external client audits time and the costs involved. Win and retain more business. An accredited certificate tells the clients that the organisation has defined and put in place effective information security processes, thus helping to create a trusting relationship. An ISO certification could be the differentiating selling point putting your organisation on the top of the tender pile. Many large organisations may not even consider your organisation without evidence of a recognised information security management system in place. ISO could also help you retain your client base. Good business growth is not just about winning new business; it s also an important way to retain your existing clients. Good security practice is another good reason for a client to stay with your

6 The information Commissioners Office can issue fines of up to 500,000 for serious breaches organisation, at a time when the current economic climate forces loyal clients to look around. Build trust. ISO improves the organisations security culture. Employees understand the risks that may occur as a result of poor security practice and embrace security controls as a result. ISO will help increase the visibility and comprehension of IT security issues, bringing preparedness to a workforce, which can help boost morale. ISO will add structure and focus to a security culture by clearly defining roles and responsibilities, which in turn helps the organisation become more productive. Save money. Information security is often considered a cost with no obvious financial gain. However expenses can be lowered which are caused by incidents. An incident could be a disruption in service, data loss or leakage or a disgruntled employee. The information Commissioners Office can issue fines of up to 500,000 for serious breaches and a quick review of recent press articles will probably astound you at the sheer number of security breaches that make it into the press. Put your organisation in order. Has your organisation gown quickly over a short period of time, (perhaps by acquisition) and are you experiencing problems such as responsibility for certain information assets? Who has to authorise access to specific information systems? What is the process to grant this third party access? etc. ISO is particularly good at sorting these things out. It will force the organisation to define roles and responsibilities and strengthen your internal organisation. For more information contact: #_RichDallimore Event Schedule th March, Technical Meeting BCS Chartered Institute for IT, London 12th June, Technical Meeting BCS Chartered Institute for IT, London 18th 19th September 2014, Annual Conference Beaumont Estate, Windsor TBA Technical briefing TBA Accountancy IT Directors Lunch #AIT_UK Supply goods or services to professional services firms? The AIT provides a variety of opportunities for suppliers of IT related goods and services to reach the large accounting firms. To find out how the AIT can work with you please contact info@aituk.co.uk