JustSystems has announced its campaign to help organisations adopt XBRL (eXtensible Business Reporting Language), the XML-based standard for communicating financial and business information.
This announcement was made at the 17th XBRL International Conference in Eindhoven, Netherlands.. Initial components of the campaign include JustSystems XBRL solutions for regulatory filing, financial analysis, and document integration and availability of an XBRL Survival Guide.
JustSystems has contributed intellectual property rights of the formatting linkbase, a key JustSystems solution that enables formatted rendering of XBRL information.
XBRL has been the centerpiece of a quiet revolution that now has the potential to fundamentally change business and financial reporting worldwide, said Jake Sorofman, senior vice president of marketing and business development for JustSystems. Now that XBRL has matured and regulators such as the U.S. SEC are gearing up for a mandate, organisations must take aggressive action to understand the implications and applications of XBRL within their domain. With XBRL momentum building, our campaign is designed to help organisations jumpstart their XBRL initiatives and stay ahead of the curve.
The Path to XBRL Success
XBRL promises to revolutionise business reporting around the world by establishing a common language for electronically communicating business and financial data. XBRLs advantages in the preparation, analysis, and communication of business information translate directly into cost savings, greater efficiencies, and improved accuracy, transparency and reliability for all parties that supply or use financial data.
Institutional investors, regulatory entities, and public companies are just a few members of the XBRL audience JustSystems is addressing with the following XBRL initiatives:
- XBRL Solutions help organisations integrate and implement XBRL processes that meet their specific needs. Based on JustSystems xfy (pronounced x-fie), the XBRL solutions include xfy Regulatory Filing Solution, xfy Financial Analysis Solution, and xfy Document Integration Solution. The solutions are detailed in the white paper, The Global Revolution of Managing Business Information: XBRL Transforming the Future of Business Reporting.
- The XBRL Survival Guide provides a crash course on XBRL, with topics ranging from an XBRL introduction to terminology, business impact, and more. The guide offers direct, clear advice for the regulatory filers, investors, financial analysts, and others who will be directly impacted by XBRL.
- XBRL in Plain English is an animated short movie that distills XBRL to basics, providing a brief education and a lighthearted look at a fairly complex topic.
JustSystems is a leading global software provider with three decades of successful innovation in office productivity, information management, and consumer and enterprise software. With over 2,500 customers worldwide and annual revenues over $110M, the company is continuing a global expansion strategy that includes the launch of its new enterprise software offering called xfy (pronounced 'x-fie'), and XMetaL content lifecycle solutions. A Gartner Cool Vendor selection in 2008, JustSystems has worldwide office locations including global headquarters in Tokyo, and regional offices in New York, Palo Alto, Vancouver, and London. The company currently employs over 1,000 people. Major strategic partnerships include IBM, Oracle and EMC.