From Financial Reporting to Business Decision Making, find out how your organization can use XBRL

1. XBRL Riding the next wave
From Financial Reporting to Business Decision Making
Gautam Mahanti
IRIS Business Services Limited
XBRL XXV
Yokohama

2. XBRL Evolution: Past Present and Future
XBRL XXV
Yokohama

3. But now its time to bite the bullet…
• XBRL is regulatory reporting
– If tomorrow the regulator stops demanding reports in XBRL format,
how many Enterprises would continue to adopt the standard?
• XBRL is too complex and technical
– How many Business users actually understand XBRL
• XBRL is actually an overhead to my existing data
– How many Business users actually feel that XBRL is adding value to
their business operations
XBRL XXV
Yokohama

4. Organizations are Operating with Blind Spots!!
52% of users
don’t have confidence in their information
59% of managers
miss information they should have used
42% of managers
use wrong information at least once in a week
Sources: Accenture 2009 Managers Survey and AIIM 2010 Survey
XBRL XXV
Yokohama

5. So is there is a business case when…
• XBRL goes beyond financial reporting
– Data is made available to business users on demand for business
decision making
• The myth around ‘XBRL’ being complex is dropped
– XBRL is just another way of structuring my data and there is nothing
technical about it
• XBRL ensures a greater trust in the data
– XBRL makes the data clean, consistent and contextual
XBRL XXV
Yokohama

6. Making this work…
Analysis
REAL TIME
XBRL’ise
Financial Reports
GL Business Intelligence
AUTOMATED and Analytics
Dashboards
External files
Layer External
SCHEDULED
Internal
SOURCE DATA NORMALISED DATA CONSUMPTION
XBRL XXV
Yokohama

7. How does GL help…
XBRL GL, the Global Ledger Framework can represent all ERP
detailed data; it’s much more than General ledger
• Ability to track data at a granular level
– Receivables
• By Party
• By Location
• By Value
• By Maturity Date
• Normalize data from multiple sources to a standard Chart of
Accounts
• Build traceability until the source
• Making data available for any BI tool to consume
XBRL XXV
Yokohama

8. Accountants Integrated Engine (Beta Release)
End to end Financial Reporting Consolidation Multi GAAP Reporting
• Server based, Enterprise class edition
• Multi source data integration, ERP integration
• Configurable to company’s legal and organizational
structure
• Works with financial and non financial data, leverages
XBRL GL
• Add on modules for Financial consolidation and Multi
GAAP reporting
• BI integration for reporting and analytics
XBRL XXV
Yokohama

9. iAXE : An overview…
Global ledger taxonomy Country specific FR taxonomies
Cost
Accountant
XBRL GL
Trial Data XBRL FR XBRL FR
ERP Extraction XBRL
Balance Mapping Reporting Instance
Engine Mapper Generator instance
Balance
sheet,P&L
Consolidation Engine XBRL FR
XBRL FR
Country specific Instance XBRL
Reporting
Generator instance
Mapper
Trail
Extensions Templates, Annotations formulas, comments
Balance
enabler
editor
IFRS Transforming Engine
Consolidation XBRL FR XBRL FR XBRL
Engine(IFRS) Reporting Instance instance
Mapper Generator
XBRL XXV
Yokohama

10. Configure: Mimic the organization's legal structure
XBRL XXV
Yokohama

11. Workflow: Role wise authorization
XBRL XXV
Yokohama

12. Connect: Source data upload
XBRL XXV
Yokohama

13. Normalize: Map user elements to std GL
XBRL XXV
Yokohama

14. Connecting GLs and Extend GL
XBRL XXV
Yokohama

15. Connecting GL to FR
XBRL XXV
Yokohama

16. Decision Making: Reports and Dashboards
XBRL XXV
Yokohama