| XBRL based Financial Reporting |
eXtensible Business Reporting Language (XBRL) is a language for the electronic communication of business and financial data that provides major benefits in the preparation, analysis and communication of business information and is fast becoming an accepted reporting language globally. It is supported by most of the financial reporting regulators like SEC, FFIEC, FDIC, Ukraine's Securities and Stock Market State Commission (SSMSC), the Swedish Companies Registration Office, Bolagsverket and the central banks of many European countries. XBRL can also support leading taxonomies such as IFRS, UK GAAP, US GAAP, German GAAP, Chinese Fund Company reporting etc.
Wipro helps your financial business use XBRL to save costs and streamline processes for collecting and reporting financial information. Consumers of financial data, including investors, analysts, financial institutions and regulators, can receive, find, compare and analyze data much more rapidly and efficiently if it is in the XBRL format.
The core components are,
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XBRL Translator: translates any form of data to XBRL format |
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XBRL Report Builder: provides easy and convenient way to create and customize reports |
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Integration Tier: SQL Server Integration Services (SSIS) is used as a data integration platform that transforms data from XML Source to database format |
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Data Tier: |
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Microsoft SQL Server 2005: used for reliable, scalable and secure data storage |
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Microsoft SQL Server Analysis Services 2005 SSAS: used to generate and make business intelligence out of data available |
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Microsoft SQL Server Reporting Services 2005: enables organization to transform valuable enterprise data into shared information for insightful, timely decision |
Benefits
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Ready to use tools for rapid development |
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Automatic data validation and verification to enhance data integrity |
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Support for internationally accepted standards like IFRS, GAAP, etc |
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Audit readiness - on demand report generation |
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Collaboration readiness - adapting to standard information exchange protocol makes system ready for collaboration across industry |
Wipro XBRL based Financial Reporting Solution
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