Auditors have been ensuring accurate business reporting for many years but now the best Auditors are adopting modern business reporting software systems as part of their workflows. With the growing importance of instant digital data, having better access to software tools helps Auditors make more accurate decisions and reduces the chances of human error in the process. Using the system and database has never been easier with the standardized reporting being easily adaptable from other current applications and our software having the necessary tools to handle any report from creation to analysis.
“I have seen the importance of XBRL and the positive impact it can have on the usefulness of business reporting through digitization and standardization. This globally important standard helps promote an information environment that can lead to better decision making. XBRL can also help management and auditors in promoting quality, credible information in the markets.”
What is iXBRL and XBRL?
iXBRL is data accessible in a web browser so it is both human and machine readable. iXBRL is a combination of HTML and XBRL (extensible business reporting language). XBRL is an XML reporting language used for standardizing structured information. iXBRL is XHTML a way to make the machine readable language of XBRL human readable without losing all the tags that make the base language very efficient for computers to interpret and analyze. Basically you have the ability to look at the classic style annual reports as a mixed document with data, text and graphical interpretations but retain the baseline XBRL tags that the document is based on.
All Semansys software products (online portal, APIs and desktop) are all built upon this XBRL Certified Software™ core technology ‘Semansys XBRL Engine’. This contains full support for the digital business reporting chain, which includes report creation, validation, rendering, delivery and analysis, as well as viewing and extending taxonomies.
With the backing of XBRL International this means you don’t have to just take our word for the guarantee that the software is qualified and will perform. In addition you know that any report generated by our application or another certified application will work seamlessly.
What are the steps to complete a report?
SemansysNext provides an accessible user-driven platform, hosted on a tier 1 public cloud provider, that supports all facets of digital business reporting (Excel, CSV, PDF, HTML, XML, XHTML, XBRL, iXBRL). It simplifies creation, provides validation, renders and delivers the digital reports in an easy and automatic way without the need for any technical expertise. If you want more depth, we also offer a Taxonomy module with the ability to load and extend taxonomies and an Analysis module for delving further into the wealth of data. In addition, the SemansysNext Platform has a Customer Corner section that allows users to store, manage, and create notes to share within their user group on the platform.
Do you already have the necessary CSR data and just need to input it, validate it and deliver it, then the SemansysNext Cloud/WebUI is right for you. With it, users can login to your secured cloud space and input the necessary reporting data and send it to the accounting/auditing company performing the rating all in one application in the cloud.
Do you already have existing systems within your enterprise which have CSR or ESG data? You can integrate those systems with SemansysNext via our APIs. This allows your users to stay within your existing applications and quickly and efficiently finish their processes (validation and delivery) for reporting via SemansysNext.