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Ipedo provides a complete set of tools for helping companies maximize the benefits of migrating to XBRL and minimize the pain of deployment.
XBRL (eXtensible Business Reporting Language) has emerged as the standard format for businesses to automate processing of financial information. XBRL instance documents can flow either within an organization or with trading partners, financial analysts, and regulatory agencies.
Using XBRL allows companies to streamline processing and eliminate manual steps, resulting in both lower costs and fewer errors. XBRL, because of its XML foundation, makes financial information searchable by a variety of automated tools. In addition, XBRL's extensibility allows organizations to customize it to meet their specialized needs.
XBRL provides a means for IT departments to easily aggregate and consolidate financial information that is accurate, timely and reliable. By using XBRL, companies can improve their internal financial business processes, better comply with regulatory requirements, and provide transparency to their investors.
Ipedo and XBRL
Ipedo simplifies collecting, aggregating, and presenting financial information used in XBRL reporting. Through a set of powerful integration, information management and custom reporting features, organizations can use Ipedo to consolidate their XBRL information and streamline its processing.
Ipedo allows companies to generate XBRL from non-XML sources, standardize XBRL instances, and consolidate XBRL information from disparate financial systems. These companies can use the consolidated information for internal analysis purposes or for communicating financial information to external parties (regulators, investors, trading partners).
Regulators can use Ipedo to consolidate, analyze, and manage XBRL filings from different companies and eliminate the expense and quality problems associated with manual consolidation.
Benefits
- Easily integrate financial data from multiple back-end systems
- Dynamically create and modify conformant XBRL documents from other formats
- Streamline XBRL processing and eliminate error-prone and expensive manual operations
- Assure compliance and information quality
- Quickly create interactive reports that viewers can easily search and navigate
Ipedo's key XBRL capabilities include:
- Generating XBRL documents by aggregating financial data across various accounting systems, relational databases, mainframe programs, and Excel.
- Performing syntax and semantic checking on XBRL documents to eliminate manual processing steps.
- Managing XBRL metadata documents, such as XBRL Schemas, taxonomies, linkbase documents, etc., in their native format.
- Performing queries and analysis across any element or attribute, across all XBRL documents in the repository. Ipedo can use Web Services to add information such as current stock prices as part of the query and analysis.
- Maintaining additional application-specific XML metadata, e.g. to track the creation and access of XBRL documents.
- Providing standard templates that feed common visualization tools such as Excel or Web-based applications.
- Handling multiple schemas such as XBRL 2.1 and XBRL 2.0.
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