Written by wordpress627 on July 12, 2018
XBRL has been a rocky road for many issuers, especially…
…for the reporting teams within mid-cap and small-cap companies. The filing solutions available tend to be overtly polarized in two distinct workflows.
- On one hand, there’s 1st generation spread sheet-based reporting, which is well suited for straight-forward financials. It’s perfect for micro-cap OTC Markets-listed clients that need 100% XBRL support.
- On the other hand, there are highly engineered, 2nd generation SaaS self-service portals. Beyond core XBRL processing, these are sophisticated products that are evolving into ERP-integrated disclosure management solutions. They’re strong solutions, but overly-featured and overly-priced for a share of the market.
Edgar Agents is pleased to announce X3RL, 3rd generation EDGAR & XBRL.The smart blend of both. You can dial-up or down the exact amount of support you need – quarter by quarter, file-by-file – at no extra charge.
X3RL = iXBRL ready
Of course, X3RL is 100% ready for the SEC new iXBRL mandate. iXBRL is the merging of two distinctly different document formats – machine-readable XBRL and “people-readable” HTML into a single document. Currently, the SEC requires that corporate issuers file their financial reports with the SEC in both XBRL and HTML.The SEC originally proposed the mandatory use of Inline XBRL for operating companies’ financial statement information in March 2017. That did not happen, so they are voting again this week.
iXBRL solves many existing problems in terms of consistency and accuracy, holistically across the pair of XBRL documents.
The benefits are huge and obvious. As regular XBRL requires separate reporting, it created a significant duplication of work for auditors and filers – as well as gaps in logic. iXBRL eliminates the separation between traditional HTML and new XBRL formats.
Equally important, the X3RL program includes all your EDGAR filing… not just your 10-Qs and 10-Ks. All for one annual fee.