Gaining competitive advantage from XBRL reporting

Gaining competitive advantage from XBRL reporting

Under the new CRD IV and Solvency II regulatory regimes, you will need to gather together much more reporting information, then turn it into XBRL format prior to submission.

More efficient decision-making

The standardised data definitions imposed by the COREP, FINREP or Solvency II taxonomies and the resulting XBRL format lead to true data consistency. One of the key underlying benefits of this standardised data is its comparability. Banks and insurance companies can take advantage of this XBRL property to analyse the viability of alternative investment decisions and, based upon tangible information, avoid exposure to bad debts. XBRL really can lead to easier, faster and more accurate decisions, a more efficient process, and reduced risk, all of which can contribute towards making the organisation more competitive.

CoreFiling can help you get the most out of your XBRL data. We provide a set of well proven, standards-based XBRL products, collectively known as the XBRL disclosure management platform.

Contact us to learn more and to arrange a demonstration.