Interlocking BI Platform Speeds Financial Filing

By Lisa Vaas  |  Posted 2005-06-20 Print this article Print

Business Objects, Edgar Online and Ipedo release the XBRL-BI suite, which uses a new Web services standard that allows direct filing to the SEC.

Business Objects has hooked up with partners to deliver what it claims is the first BI tool to take advantage of XBRL, a format in which financial information is directly filed to the SEC, the company announced on Monday. XBRL (Extensible Business Reporting Language) is an open standard for transmitting and sharing business information. Its designed to replace manual processes that typically involve time-consuming comparison, assembly and re-entry of data. XBRL is being developed by a nonprofit consortium of companies, organizations and government agencies, including accounting, technology, government and financial services bodies. Its users include the Securities and Exchange Commission, the Federal Deposit Insurance Corp., the Tokyo Stock Exchange and the U.K. Inland Revenue Service.
Business Objects SA is adding its XI business intelligence platform to a trio of offerings, which collectively has been dubbed XBRL-BI, that incorporate the standard. Ipedo Inc.s XIP information integration platform is another piece, and Edgar Online Inc.s suite of XBRL-enhanced tools caps it off.
In the midst of soaring volumes of financial information and regulatory requirements, the technology combination is aimed at helping companies share company information with financial analysts and investors for reporting and analysis. Financial filings come from Edgar Onlines I-Metrix Web Service and the XIP integration platform. Business Objects XI lets research analysts, institutional investors, fund managers, regulators and corporate officers study market conditions directly from corporate filings in near real time, thus creating what Business Objects calls a pre-built data repository thats ready for financial analysis. Click here to read about IT asset-management software from Peregrine Systems. Edgar Onlines systems convert SEC data into XBRL to make it available to the I-Metrix suite. Ipedo pulls the XBRL-tagged financial data, processes it along with business context, and delivers it to XI, which uses Crystal Reports or Business Objects Web Intelligence product. Read details here about Information Builders operational BI offerings. Management dashboards, scorecards and performance management applications can be created within Business Objects BI platform. Stuart M. Selip, an analyst for Burton Group Inc., has been following Ipedo in his coverage of EII (enterprise information integration). He said that well increasingly see data delivered as Web services, as with XBRL BI, as companies look to get at material in ways other than firing up queries against relational sources. Next page: Query tools with both XML and SQL expertise are best.

Lisa Vaas is News Editor/Operations for and also serves as editor of the Database topic center. Since 1995, she has also been a Webcast news show anchorperson and a reporter covering the IT industry. She has focused on customer relationship management technology, IT salaries and careers, effects of the H1-B visa on the technology workforce, wireless technology, security, and, most recently, databases and the technologies that touch upon them. Her articles have appeared in eWEEK's print edition, on, and in the startup IT magazine PC Connection. Prior to becoming a journalist, Vaas experienced an array of eye-opening careers, including driving a cab in Boston, photographing cranky babies in shopping malls, selling cameras, typography and computer training. She stopped a hair short of finishing an M.A. in English at the University of Massachusetts in Boston. She earned a B.S. in Communications from Emerson College. She runs two open-mic reading series in Boston and currently keeps bees in her home in Mashpee, Mass.

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