Investor

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Investor Analyst Day Fiscal
EncyclopediaVakstudie

• Evolution is the best designer
• in the world

Huub van der Meulen, Publisher Chris Gijsbers,
Publishing Manager Kluwer Fiscal Financial
Publishers, The Netherlands
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Birth of a brand

• Introduction of Vakstudie approx. 1900 acquired
  in approx. 1910.
• A guide to the interpretation of sections of tax
  law.
• Characteristics quality, completeness, bible
  for the tax market.
• Added value
• Factual how should a section of law be
  interpreted?
• Encyclopedia references to case law, literature
  and (government) policy.
• Authoritative highly qualified authors (tax
  consultants, Ministry of Finance, court of law,
  science).

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Introduced for whom?
Ministry of Finance/ Tax Office 30.000
employees Users Vakstudie IB 1500
Vakstudie
tax payers professionals and consumers
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What does Vakstudie look like?(Several versions
of the text)

  
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What does Vakstudie look like?(one or more
comments on the text)

 
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How did Vakstudie develop? 1
1910
1998
1945
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How did Vakstudie develop? 2

• Until 1998 everything in print
• Loose-leaf
• More than 100 volumes covering 14 tax laws
• More than 100.000 pages
• A yearly update of 41.000 pages
• About 115 authors involved
• Weekly journal VakstudieNieuws
• 50 issues a year covering case law of all 14 tax
  laws
• More than 5000 pages per year
• About 50 authors involved
• So perfectly suited for Theo Valente

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Who is Theo Valente?

• Theo Valente is a 58-year-old professor in tax
  law.
• Involved as a consultant of the Ministry of
  Finance.
• Senior partner and founder of Coopers, Young
  Valente.
• Still works 70 hours a week, thinks a computer
  mouse has a tail, reads professional literature
  as a hobby and plays golf to keep in shape.

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How does Theo gain information?

• For Theo Vakstudie is complete and stands for
  quality
• But, Theo has a younger colleague called Mitch
  van der Goes

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Who is Mitch van der Goes?

• Mitch is the future of Dutch tax law and is 32
  years of age.
• Graduated in two majors at the age of 22.
• Mitch is the youngest deputy judge in the
  Netherlands.
• On average Mitch publishes two articles a month
  and is junior partner at PWC.
• Mitch goes on holiday at least three times a year
  and is crazy about water skiing.

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What does Mitch want?

• Mitch wants high-quality information
• Wants complete information
• Wants to spend less time on searching relevant
  information
• Wants digital information
• Wants the information to be up-to-date
• Wants to have clever (personalised) tools and
  various kinds of hyperlinking

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What did we invest in?

• In the development of electronic versions of the
  Vakstudie
• In a new backbone a new publishing process

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Conventional workflow Vakstudie
Loose Leaf
Typographer
Cd-rom
Check
Check
Online Tailor made solutions
Up to 24 weeks
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New workflow Vakstudie
Content Management System (XML/SGML)
Loose Leaf
Typographer
Cd-rom
Kluwer editorial staff
Author
Check
Online Tailor made solutions
Up to 1 week
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Electronic off- and online
Lets demonstrate how Vakstudie works for Mitch!
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What are the results so far?

• New workflow with a focus on electronic
  publishing
• Shorter time-to-market from 24 weeks to 1 week
  for Vakstudie
• VakstudieNieuws on a daily basis
• Uniform structure
• User-friendly
• More functionalities higher update frequency and
  extra search features
• Vakstudie still offers quality and is complete
• Coverage of all large accounts (top 4 firms and
  tax authorities/Ministry of Finance)

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Folio, offline and online
folio cd rom online
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Evolution is the best designer in the world the
present

• We were able to create a strong brand
• Based on the added value achieved Vakstudie is
  fully integrated in the daily routine of our
  customers
• We invested in the backbone to make it more
  up-to-date
• We managed to migrate towards a cd-rom
  environment, thus following our customers wish
  for online publications
• First smart information tools developed

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Evolution is the best designer in the world
future further customer lock in (online)

• Shorter time-to-market real time
• Dynamic linking between news, research and
  compliance tools
• Personalise profile per law or sections of law
• Further development of smart information tools
• Flexible pricing, depending on intensity of use

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And what about Theo and Mitch?

• Theo is still happy with his loose leaf and will
  enjoy his well-deserved retirement 7 years from
  now.

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And Mitch?

• Because of the electronic Vakstudie Mitch can
  work efficiently within less time. So Mitch
  doesnt have to wait until his retirement to
  enjoy life!

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Have fun Mitch!