Re-inventing the Business Information Supply Chain
SQL Power XBRL solutions are based on a low-risk, modular architecture that leverages our thin client Power Forms and Power EAS platform as the building blocks for the user experience - and couples these with XPE, the industry's highest performing and most scalable XBRL processing engine. A pre-built reporting and analytics solution for XBRL data that also interfaces with XPE has been incorporated into the solution as well. Finally but certainly not least, Power Designer - a taxonomy design studio - is integrated into the platform solution for taxonomy and returns design and layout at the business user level.
This Zero-Footprint (thin client) approach minimizes the complex support challenges related to the distribution of client software, while still maintaining the highest levels of security. The SQL Power approach follows software industry best practices for leveraging object-oriented design concepts such as software patterns and strategies to add support for inline, rendering, versioning, and formula specifications. XBRL instance documents can also be uploaded and subsequently validated through the EAS portal.
At the core of these applications is the XBRL Processing Engine (XPE), designed for high volume, large scale business processes requiring XBRL/XML data validation, conversion and rendering. XPE is built on a completely extensible object-oriented architecture, enabling developers to easily integrate XBRL into existing applications. This robust architecture includes a full Software Development Kit (SDK) that provides XBRL and FRTA validation, transformation of taxonomies and instance documents using XSLT and extraction of data via XPath 2.0.
The solution accelerates the collection of high quality financial data, formatted in an electronic standardized way, for quicker financial analysis and to improve communications between regulatory agencies.
The platform will render returns forms, support data collection based upon standard XBRL formulas, deliver valuable feedback to a subscriber on their returns and also provide real time XBRL validation and final certification.
A subscriber simply logs in via the internet and submits its business information or corporate financial filings via an intuitive submission form rendered by a standard or custom extended taxonomy. The submission is then validated in real time, certified, converted and stored as XBRL in an optimized analytics database for easy analysis, management and distribution.
Three primary streams of effort exist within a typical implementation:
- The creation of the XBRL taxonomy, the configuration of Power Forms returns, and the set up of the Enterprise Application Suite and portal
- Configuration of XBRL Analytics and the development of custom reports and dashboards
- Historic load from legacy systems - Excel documents for instance, as an optional stream.
In terms of the management plan, SQL Power develops a detailed project charter as part of the project integration management process to outline the scope and deliverables for a given project. A project plan detailing work items, resources, and delivery milestones is also crafted. The team will execute against several management processes and requirements documents consistent with Project Management principles based on the Project Management Body of Knowledge (PMBOK) from the Project Management Institute (PMI). Typically a weekly status report is prepared, and weekly status meetings are scheduled throughout the life of the project to ensure that our clients are informed of project progress, issues, change requests, and risks.