Report Authority – a new document authoring and global XBRL tagging solution for the finance function is being officially launched this month in London. Developed by AMOSCA, an award winning Enterprise Performance Management (EPM) consultancy specialising in the provision of Oracle Hyperion solutions, the product has been designed from the ground up to be used by accountants.
Companies House will be presenting at this event and will available to answer any questions on the details of any future Companies House XBRL mandate.
Companies House’s presence reinforces the theme of the day in looking further than the current HMRC mandate into how the finance function can effectively incorporate XBRL into the business-as-usual processes and adapt to the ever changing regulator landscape.
[Do we need another XBRL solution? Join the discussion on the Financial Systems News for CFO’s, FD’s and Controllers Linkedin Group.]
Unlike other XBRL solutions, Report Authority, eliminates the need for costly consultancy and outsourcing to printers and auditors. Michael Grieger, Compliance and XBRL Director, AMOSCA believes this is a key differentiator “The workflow within Report Authority is designed around the needs of an effective accounts production process rather than the obscure XBRL instance document generation concepts accountants find so foreign.”
“With dynamic data adapters to connect seamlessly with Oracle Hyperion HFM and Excel, Report Authority can quickly leverage the most popular consolidation systems,” added Grieger.
Unlike first generation XBRL solutions, Report Authority is a complete solution with all major global taxonomies and validation routines built in, so that users can be confident of complying with regulatory requirements before they submit. Grieger also believes that tagging is made easy and less onerous with “content creation, XBRL tagging and data automation all merged into a single unified process.”
Report Authority further sets itself apart from other solutions on the market by giving users the ability to create ‘templates’, facilitating the creation of multiple sets of accounts in a simple and efficient way. When it comes to the following year further time is saved by simply rolling over the accounts along with the tagged data elements from one period to another with a click of a button.
Companies also benefit from a flexible pricing model, which ensures that they only pay for what they need. This cost effective pricing structure enables Report Authority to be deployed at a local and group level with ease, enabling the workload to be shared throughout the organisation and facilitating local submissions whilst giving Group Finance comfort that they are fully compliant.
To find out more about Report Authority and learn how your business can become fully XBRL compliant, book your place at the launch event which is being held on 28th June where you will get the opportunity to see how Report Authority can help companies effortlessly comply with XBRL, illustrated with a case study. You will also have the opportunity to listen to expert speakers from Deloitte and FSN to understand how your business is affected by the need for XBRL compliance.
In 2011/12 AMOSCA swept the board at the UKOUG Partner of the Year awards. They were presented with the Gold Hyperion Partner of the Year Award as well as the Gold Financial Services Partner of the Year Award. Readers can book their place at the Report Authority launch event by following this link.