Bolagsverket event 28/11/2016 Event –Invoke Presentation 5 Invoke XBRL Expertise Invoke XBRL...
Transcript of Bolagsverket event 28/11/2016 Event –Invoke Presentation 5 Invoke XBRL Expertise Invoke XBRL...
Bolagsverket Event – Invoke Presentation
Bolagsverket event – 28/11/2016
Presentation från INVOKE
Antoine BOURDAIS
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Corporate overview
Regulatory reporting specialists
Software company founded in 2001 Headquartered in France with offices
in the United Kingdom, Luxembourg, Sweden and Portugal
110 employees
3 business lines Tax reporting
Group reporting
Regulatory reporting
Renowned regulatory expertise In-house team of domain experts
Trusted provider to both supervisoryauthorities and industry
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Who are our clients ? Financial Services
Supervisoryauthorities
Insuranceindustry
Banking sector
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Food Industry Textile Capital goodsIndustrial
goods
Pharma. &
CosmeticsTransport Distribution Services
Media /
Entertain.
Who are our clients ? Other sectors
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Invoke XBRL approachInvoke XBRL Expertise
Invoke XBRL membership• Direct member XBRL international• Member XBRL Europe• Member XBRL US• Founding member XBRL France
XBRL working groups and conferences• Member of a lot of XBRL working groups
(International, Europe…)
• Sponsor of XBRL international conferences since 2007
• Regular sponsor of other XBRL events
Added-value• Unique alliance of technical and business
expertise
Our mission statement
Provide XBRL Solution that are :
• user-oriented• easy-to-implement• Generic• relevant to every user profile
Our approach: Making XBRL accessible to all
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The XBRL Experience
Business PeopleTech Guys
XBRL
A « data-centric » technical standard
for
« table-centric » business users
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The XBRL Experience
A unique standard
A variety of business domains
Market Authority
Banking Supervisory Authority
Insurance Supervisory Authority
Business Register
Tax Authority
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The XBRL Experience
The key role of the taxonomy
Visualisation of XBRL Data ?iXBRL vs XBRL (table linkbase)
Which business templates ? Fixed tables – Open/Dynamic tables – Text ?
Business controlsUsage of XBRL formulae ?
Taxonomy modellingDPM approach ? Multidimensional ?
Filers classificationHow many entry points ?
ComparabilityExtension of closed taxonomy ?
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A unique core component…
A generic, dynamic XBRL web spreadsheet
• User-friendly
• Familiar to business users
• Calculation and formatting features
Bolagsverket Event – Invoke Presentation
A unique core component…
A generic, dynamic XBRL web spreadsheet
• Natively XBRL
• Each cell is an (XBRL) object
Bolagsverket Event – Invoke Presentation
A unique core component…
• Data-model driven
• Taxonomy-driven
A generic, dynamic XBRL web spreadsheet
Bolagsverket Event – Invoke Presentation
A unique core component…
• Support of typed dimensions
• Dynamic rendering
A generic, dynamic XBRL web spreadsheet
Bolagsverket Event – Invoke Presentation
A unique core component…
A generic, dynamic XBRL web spreadsheet
• Available through a regular web browser
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Our solution – 3 approaches for supervisory authorities
« Specific » Approach
« Standard » Approach
« Strategic» Approach
XBRL Components Data collectionData collection &
Data analysis
For which needs
■ Component approach to integrate the missing XBRL technology bricks into an existing information system
■ Out-of-the-box web portal to manage and monitor the disclosureprocess of the regulatoryreports
■ Complete reportingplatform to manage the regulatory reporting and data Business Intelligence analysis
Solutions
Description
XBRL components suite composed of:
■ XBRL Designer: Design of XBRL templates from anytaxonomy
■ XBRL Reader/Writer: Web spreasheet to render or create XBRL instances through the XBRL templates
■ XBRL Validator: processing of XBRL validation
■ XBRL Analyzer: XBRL BI capabilities
■ Centralization of regulatory reports collected in XBRL, Excel, PDF, Word, etc.
■ Monitoring of the data collection processaccording to the regulatorycalendar
■ Rendering of the XBRL instances through the business templates
■ Processing of the XBRL validation (includingformulae for the business rules validation)
■ Versioning and archiving
■ Centralization of regulatory reports collected in XBRL, Excel, PDF, Word, etc.
■ Monitoring of the data collection processaccording to the regulatorycalendar
■ Customisable Business Intelligence platformmatching the XBRL architecture
■ Event Manager to customize workflows and automatic tasks
■ Versioning and archiving
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« Tactical» Approach « Strategic» Approach
For which needs
■ Web portal (hosted or in-house) to produceregulatory reports fromExcel files and/or manualkeyboarding
■ Complete reportingplatform to produceregulatory reports and manage the disclosureprocess
Solutions
Description
■ Collaborative application■ « Excel to XBRL »
conversion - Manual data entry
■ XBRL Validation■ Management of
national-specific technical requirements
■ Monitoring of the disclosure process
• Regulatory calendar• Process statistics /
progress bars
■ Automatic upload of data coming from source systems or Excel files
■ Workflow to manage the collaborative production process
■ Business controls■ Production of regulatory
reports, narratives and customized reports
■ Monitoring of the XBRL disclosure process
Our solution – 2 approaches for regulated entities
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Our solution – How it operates ?
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Supporting the full lifecycle of supervision
■ Centralisation of regulatory reportsUpload of XBRL files or Excel files
Other format (Word, PDF, XML…)
Manual or automatic upload (U2M or M2M)
Approval (electronic signature option)
■ User-friendly approachIntuitive regulatory calendar management
Error-handling directly linked to the tables
Visual & XML feedback provided to users
■ Easy to maintainJust one file to import to update the wholesystem in case of changes to a taxonomy (Kit)
Possibility to automate 100% of the file workflow with automated extraction to a BI tool
■ ArchivingVersioning and report archiving
Complete audit trail of user actions
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Live Demo : Invoke e-Regulatory portal
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Live Demo : a puzzle game
Supervision through the e-Regulatory« XBRL Gateway » Controlling and administrating submissions
Monitoring of received files
Submission through the e-Regulatory« XBRL Gateway » Excel format
XBRL Format
Automatic upload
Pure XBRL configuration From an XBRL taxonomy to the XBRL
Gateway thanks to Invoke XBRL Designer
Our differentiators • Invoke’s DNA• Internalization of Subject Matter Expert teams
(regulatory watch, tax experts, …)
• A close, day-to-day collaboration with regulatorybodies and regulated entities
• Pioneering innovative technological choices & an enduring commitment to furthering new standards (XBRL Experts)
• More than XBRL technology bricks to address the different needs of our clients
• XBRL reporting solutions already trusted by numerous international clients
• Standard product approach: same tools for all ourclients. We value clients loyalty: we never charge them for new releases.
• Easy-to-maintain software solution in case of anyregulatory evolution
Antoine [email protected]