XBRL Services
XBRL is used by companies primarily for financial reporting. Its enormous advantages will spur its use in activities such as manufacturing, procurement, sales, and human resources. With the regulators pushing for the implementation of XBRL-based reporting, opportunities have emerged. Powerful forces such as globalization, corporate governance, and competition are accelerating this shift toward XBRL.
XBRL – The language of the future
eXtensible Business Reporting Language (XBRL) is a language for the electronic communication of business and financial data, and for digitizing business reports in accordance with accounting rules.
SPi Global has been working with structured data since 1995, and with XML since it became a standard. XBRL complements XML, which is the universal format for data on the Web that uses tags (identifiers) to describe and deliver data from an application.
Since XBRL is a subset of XML, SPi Global has an edge over others in adapting to XBRL and collaborating with clients to make them XBRL-ready.
Not implementing XBRL has its dangers. Data sharing across business units and departments as well as reporting efficiency will suffer, with potential, sometimes devastating, impacts on the bottom line.
XBRL can be applied to a very wide range of business and financial data. Among other things, it can handle:
- Company’s internal and external financial reporting.
- Business reporting to all regulators, including tax and financial authorities, central banks and governments.
- Filing of loan reports and applications; credit risk assessments.
- Exchange of information between government departments or between other institutions, such as central banks.
- Authoritative accounting literature – providing a standard way of describing accounting documents provided by authoritative bodies.
The SPi Global edge
SPi Global is the pioneer in providing XML-based Authoring Solutions and Workflow Management Tools. Our expertise in XML solutions gives us a solid grasp of technology-oriented solutions in XBRL.
Why SPi Global?
- We offer complete end-to-end XBRL solutions with services ranging from expert consulting, mapping, tagging, and validating.
- SPi Global has an abundant base of XBRL accountants in the business, each with formidable experience.
- We make sure that we communicate extensively with our clients so that we understand their requirements and deliver outstanding results.
- Our project manager will work hand-in-hand with the client’s team to analyze, discuss, evaluate, interpret, and then process your data.
- Our proven techniques, abundant experience, and unparalleled skill sets will make sure that our clients have a competitive edge.
- Our client base includes leading organizations from around Europe who demand the highest standards in quality coupled with quick turn-around times.
SaaS offerings
Technology-driven integrated XBRL framework
- Data Migration Application
- Built-in Taxonomy Engine
- Authoring Tool
- Report Management System
Certification
SPi Global is HM Revenue and Customs certified.