TRAX: BUILDING EXPERT COMMUNITIES
Welcome to the home page for TRAX, our tool for collaborating on the construction and improvement of XBRL taxonomies. TRAX brings the power of on-line collaboration to XBRL.
TRAX lets communities of interest that are using XBRL to define financial or performance reports to do so directly. Comments and issues get tracked, new ideas captured, problems solved. TRAX brings business experts together, no matter their location.
It's collaboration for XBRL1
TRAX lets users browse through a taxonomy (a dictionary of reporting terms) and examine their definitions. If something is missing or incorrect, the user can click on that aspect of the definition and provide a comment about that particular issue. The user can assign it a priorty and submit it to the system for others to think about. Other users that have signed up for information about that taxonomy will get a notification about the new issue. They can respond right inside their e-mail client, or browse to the TRAX website to get more details. A "thread" gets built up about that particular issue. A manager or moderator can review the comments and make a decision about how the issue will be dealt with in the next revision of the taxonomy. Usually consensus is reached pretty quickly.
TRAX has recently been improved! It now provides a graphical view of differences between two versions of a taxonomy (just like "track changes" in Word). It lets taxonomy owners load new taxonomies directly into the system. It lets users download Excel versions of taxonomies and comments for further review and printing.
Coming Soon! Full integration with SpiderMonkey.
Key features include:
- No specialist IT or XBRL knowledge necessary
- Make comments by searching or navigating taxonomies on a simple web page
- Comment on these issues on the web, or from your e-mail client
- Keep track of the work you have done and how others have responded in My Issues
- See when taxonomy moderators have actioned your suggestions
To request a demo of TRAX, please contact us.
1We would have said "Interactive Collaboration" ... but that would just be silly!