Standard Business Reporting: Open Data to Cut Compliance Costs

March 30, 2017 by Hudson Hollister, Joseph Kull, Michael Middleton, Michal Piechocki

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Imagine if U.S. companies' compliance costs could be reduced, by billions of dollars. Imagine if this could happen without sacrificing any transparency to investors and governments. Open data can make that possible. This first-ever research report, co-published by the Data Foundation and PwC, explains how Standard Business Reporting (SBR), in which multiple regulatory agencies adopt a common open data structure for the information they collect, reduces costs for both companies and agencies. SBR programs are in place in the Netherlands, Australia, and elsewhere - but the concept is unknown in the United States. Our report is intended to introduce SBR to U.S. policymakers and lay the groundwork for future change