Bolagsverket event 28/11/2016

Transcription

1 Bolagsverket event 28/11/2016 Presentation från INVOKE Antoine BOURDAIS Bolagsverket Event Invoke Presentation

2 Corporate overview Regulatory reporting specialists Software company founded in 2001 Headquartered in France with offices in the United Kingdom, Luxembourg, Sweden and Portugal 110 employees 3 business lines Tax reporting Group reporting Regulatory reporting Renowned regulatory expertise In-house team of domain experts Trusted provider to both supervisory authorities and industry Bolagsverket Event Invoke Presentation 2

3 Who are our clients? Financial Services Supervisory authorities Insurance industry Banking sector Bolagsverket Event Invoke Presentation

4 Who are our clients? Other sectors Food Industry Textile Capital goods Industrial goods Pharma. & Cosmetics Transport Distribution Services Media / Entertain. Bolagsverket Event Invoke Presentation

5 Our approach: Making XBRL accessible to all Invoke XBRL Expertise Invoke XBRL membership Direct member XBRL international Member XBRL Europe Member XBRL US Founding member XBRL France XBRL working groups and conferences Member of a lot of XBRL working groups (International, Europe ) Sponsor of XBRL international conferences since 2007 Regular sponsor of other XBRL events Invoke XBRL approach Our mission statement Provide XBRL Solution that are : user-oriented easy-to-implement Generic relevant to every user profile Added-value Unique alliance of technical and business expertise Bolagsverket Event Invoke Presentation 5

6 The XBRL Experience XBRL A «data-centric» technical standard for «table-centric» business users Tech Guys Business People Bolagsverket Event Invoke Presentation 6

7 The XBRL Experience A unique standard A variety of business domains Business Register Tax Authority Market Authority Banking Supervisory Authority Insurance Supervisory Authority Bolagsverket Event Invoke Presentation 7

8 The XBRL Experience The key role of the taxonomy Which business templates? Fixed tables Open/Dynamic tables Text? Filers classification How many entry points? Business controls Usage of XBRL formulae? Visualisation of XBRL Data? ixbrl vs XBRL (table linkbase) Taxonomy modelling DPM approach? Multidimensional? Comparability Extension of closed taxonomy? Bolagsverket Event Invoke Presentation 8

9 A unique core component A generic, dynamic XBRL web spreadsheet User-friendly Familiar to business users Calculation and formatting features Bolagsverket Event Invoke Presentation

10 A unique core component A generic, dynamic XBRL web spreadsheet Natively XBRL Each cell is an (XBRL) object Bolagsverket Event Invoke Presentation

11 A unique core component A generic, dynamic XBRL web spreadsheet Data-model driven Taxonomy-driven Bolagsverket Event Invoke Presentation

12 A unique core component A generic, dynamic XBRL web spreadsheet Support of typed dimensions Dynamic rendering Bolagsverket Event Invoke Presentation

13 A unique core component A generic, dynamic XBRL web spreadsheet Available through a regular web browser Bolagsverket Event Invoke Presentation

14 Our solution 3 approaches for supervisory authorities «Specific» Approach «Standard» Approach «Strategic» Approach XBRL Components Data collection Data collection & Data analysis For which needs Component approach to integrate the missing XBRL technology bricks into an existing information system Out-of-the-box web portal to manage and monitor the disclosure process of the regulatory reports Complete reporting platform to manage the regulatory reporting and data Business Intelligence analysis Solutions Description XBRL components suite composed of: XBRL Designer: Design of XBRL templates from any taxonomy XBRL Reader/Writer: Web spreasheet to render or create XBRL instances through the XBRL templates XBRL Validator: processing of XBRL validation XBRL Analyzer: XBRL BI capabilities Centralization of regulatory reports collected in XBRL, Excel, PDF, Word, etc. Monitoring of the data collection process according to the regulatory calendar Rendering of the XBRL instances through the business templates Processing of the XBRL validation (including formulae for the business rules validation) Versioning and archiving Centralization of regulatory reports collected in XBRL, Excel, PDF, Word, etc. Monitoring of the data collection process according to the regulatory calendar Customisable Business Intelligence platform matching the XBRL architecture Event Manager to customize workflows and automatic tasks Versioning and archiving Bolagsverket Event Invoke Presentation 14

15 Our solution 2 approaches for regulated entities «Tactical» Approach «Strategic» Approach For which needs Web portal (hosted or inhouse) to produce regulatory reports from Excel files and/or manual keyboarding Complete reporting platform to produce regulatory reports and manage the disclosure process Solutions Description Collaborative application «Excel to XBRL» conversion - Manual data entry XBRL Validation Management of national-specific technical requirements Monitoring of the disclosure process Regulatory calendar Process statistics / progress bars Automatic upload of data coming from source systems or Excel files Workflow to manage the collaborative production process Business controls Production of regulatory reports, narratives and customized reports Monitoring of the XBRL disclosure process Bolagsverket Event Invoke Presentation 15

16 Our solution How it operates? Bolagsverket Event Invoke Presentation 16

17 Supporting the full lifecycle of supervision Centralisation of regulatory reports Upload of XBRL files or Excel files Other format (Word, PDF, XML ) Manual or automatic upload (U2M or M2M) Approval (electronic signature option) User-friendly approach Intuitive regulatory calendar management Error-handling directly linked to the tables Visual & XML feedback provided to users Easy to maintain Just one file to import to update the whole system in case of changes to a taxonomy (Kit) Possibility to automate 100% of the file workflow with automated extraction to a BI tool Archiving Versioning and report archiving Complete audit trail of user actions Bolagsverket Event Invoke Presentation 17

18 Live Demo : Invoke e-regulatory portal Bolagsverket Event Invoke Presentation 18

19 Live Demo : a puzzle game Supervision through the e-regulatory «XBRL Gateway» Controlling and administrating submissions Monitoring of received files Submission through the e-regulatory «XBRL Gateway» Excel format XBRL Format Automatic upload Pure XBRL configuration From an XBRL taxonomy to the XBRL Gateway thanks to Invoke XBRL Designer Bolagsverket Event Invoke Presentation 19

20 Our differentiators Invoke s DNA Internalization of Subject Matter Expert teams (regulatory watch, tax experts, ) A close, day-to-day collaboration with regulatory bodies and regulated entities Pioneering innovative technological choices & an enduring commitment to furthering new standards (XBRL Experts) More than XBRL technology bricks to address the different needs of our clients XBRL reporting solutions already trusted by numerous international clients Standard product approach: same tools for all our clients. We value clients loyalty: we never charge them for new releases. Easy-to-maintain software solution in case of any regulatory evolution

21 Antoine BOURDAIS