About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

Information Builders Launches New XBRL Reporting Platform

Subscribe to our newsletter

Business intelligence solution vendor Information Builders has launched a new platform for the filing of global financial reports in XBRL format. The WebFocus Financial Reporting Exchange platform is aimed at reducing the cost and complexity of filing these reports in XBRL, as required by the Securities and Exchange Commission (SEC), says the vendor.

The SEC has mandated that every public company categorised as “large accelerated filers”, with a public float of more than US$5 billion, must file in XBRL by 15 June 2009. All other large accelerated filers are slated for transition to XBRL in 2010, and every other publicly traded issuer is scheduled for changeover in 2011.

“By automating the reporting process end to end, our customers can now easily publish their performance and financial data in WebFocus for internal benchmarking while meeting the reporting requirements not only for XBRL, but also for Basel II, IFRS, and other global reporting standards,” claims Gerald Cohen, president and CEO of the vendor.

WebFocus Financial Reporting Exchange uses a UBmatrix XBRL processing engine to support the range of XBRL taxonomies. XBRL formatted financial reports are therefore generated automatically by the solution, including the validation of taxonomy structure and data, says the vendor.

Robert Kugel, senior vice president of Ventana Research, is confident that XBRL will be extended beyond its current remit of financial reporting within the US. “XBRL can and will be used for more than external financial statements. Public and private companies will use it for their internal reporting purposes because it can increase the accuracy and relevance of their management reports,” he contends.

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Managing Non-Financial Misconduct Under SMCR

Non-financial misconduct – encompassing behaviours such as bullying, sexual harassment, and discrimination is a key focus of the Senior Managers and Certification Regime (SMCR). The Financial Conduct Authority (FCA) has underscored that such misconduct is not only unethical but also poses significant risks to a firm’s culture and operational integrity. Recognizing the profound impact on...

BLOG

The Future of Wealth Management: The Rise of Alternatives and Digital Transformation

By Tom Carey, Corporate Vice President, President of Global Technology and Operations at Broadridge. Wealth management stands at a pivotal crossroads, poised for revolutionary change that will fundamentally reshape the delivery, consumption and value of financial services. Global assets under management are projected to reach $145.4 trillion by 2026, with alternative investments growing at twice...

EVENT

TradingTech Summit London

Now in its 15th year the TradingTech Summit London brings together the European trading technology capital markets industry and examines the latest changes and innovations in trading technology and explores how technology is being deployed to create an edge in sell side and buy side capital markets financial institutions.

GUIDE

Regulatory Data Handbook 2025 – Thirteenth Edition

Welcome to the thirteenth edition of A-Team Group’s Regulatory Data Handbook, a unique and practical guide to capital markets regulation, regulatory change, and the data and data management requirements of compliance across Europe, the UK, US and Asia-Pacific. This year’s edition lands at a moment of accelerating regulatory divergence and intensifying data focused supervision. Inside,...