democratization of financial and business reporting data presented by: susan strausberg ceo &...
TRANSCRIPT
Democratization of Financial and Democratization of Financial and Business Reporting DataBusiness Reporting Data
Presented by: Susan Strausberg CEO & President – EDGAR Online, [email protected]
8th XBRL International Conference 8th XBRL International Conference Seattle - November 4, 2003Seattle - November 4, 2003
About EDGAR OnlineAbout EDGAR Online
Today’s AgendaToday’s Agenda1
5
2
3
4
Drivers for companies to provide financial Drivers for companies to provide financial information in an open standard information in an open standard
Conclusion Conclusion
Future Trends
About the SEC EDGAR SystemAbout the SEC EDGAR System
About the EDGAR SystemAbout the EDGAR System “Electronic Data Gathering, Analysis, and RetrievalElectronic Data Gathering, Analysis, and Retrieval”
Purpose: To facilitate the filing and review of mandated public company disclosures
12 years from inception to completion May 1996 ALL US public companies required to
file the majority of their disclosures electronicallyPublic website provides access to EDGAR data
Sarbanes-Oxley Act of 2002 accelerates time frame and types of disclosures to be filed electronically
Financial Information Life CycleFinancial Information Life Cycle
Capital Raising Periodic & Event Reporting
(compliance)
Ownership
IPO’s S-1
SB
IPO’s S-1
SB
Secondaries S-2
S-3
Secondaries S-2
S-3
Annuals/Quarterlies 10-K, 10-Q, 8-K
Def-14A
Annuals/Quarterlies 10-K, 10-Q, 8-K
Def-14A
Institutional + Mutual Fund Holdings 13-F, N30-D
Institutional + Mutual Fund Holdings 13-F, N30-D
Insider Trades
144 3, 4, 5
Insider Trades
144 3, 4, 5
The ScopeThe Scope
12,000 public companies 2,200 institutions 8,000 mutual funds 60,000 insiders 2+ million documents 10,000 new documents/day 1,000,000 pages/day
Common SEC FilingsCommon SEC FilingsFiling Category Filings Included in Category
Form Types
Annual Reports* 10-K, 10-KSB (Small Business)
Quarterly Reports* 10-Q, 6-K, 10QSB (Small Business)
IPO Filings* S-1, SB-1, SB-2, F-1 (Foreign) 424B
Insider Trading* 3, 4, 5, 144
Ownership* 13-F, 13-G, 13 D
Mergers & Acquisition* S-4, 14D-1 14D-9
Secondary Stock Offerings* S-2, F-2, S-3, F-3
Mutual Fund Filings* N-1A, N30D, 497
Proxies and Information Statements* DEF-14A
Special Events - (Reg FD) 8-K, 10-C, 6-K
* Contain financial reports and other extractable financial data
About EDGAR OnlineAbout EDGAR Online
Today’s AgendaToday’s Agenda1
5
2
3
4
Drivers for companies to provide financial Drivers for companies to provide financial information in an open standard information in an open standard
Conclusion Conclusion
Future Trends
About the SEC EDGAR SystemAbout the SEC EDGAR System
EDGAR Online Corporate OverviewEDGAR Online Corporate OverviewThe trusted Internet source of timely and cost-effective business, financial
and competitive information contained in SEC filings
Founded 1995, IPO in 1999 NASDAQ: EDGR Offices:
Headquarters: Norwalk, CTCorporate Sales Office: New York, NYTechnology Center: Rockville, MD
Over 200 distribution channels and over one million registered users Major Markets: financial services, accounting, legal, corporate Revenue ’99 $2M $16M in 2002, Gross Margins > 80% Founding Member XBRL Consortium
•APIs•Displays in Excel, RTF, HTML
Timeline
1995-1996 1997 1998 1999 2000-2003
•Data Extraction•Strategic relationships
•Full text searching
•Professional services•Customized data•FDIC/XBRL
•Subscriptions •Internet delivery•Real Time•Alerts•Displayed in ASCII
EDGAR OnlineEDGAR Online
Again - The ScopeAgain - The Scope
12,000 public companies 2,200 institutions 8,000 mutual funds 60,000 insiders 2+ million documents 10,000 new documents/day 1,000,000 pages/day
SEC Data
Data Mining Technology Internet Delivery
Technology Enabled ContentTechnology Enabled Content
Extracted Financial DataExtracted Financial Data
EDGAR Online PeopleEDGAR Online PeopleResearch tool that mines SEC filings and extracts proper names found within those
documents. Useful in performing due diligence and prospecting.
Users and the Information They SeekUsers and the Information They Seek
Users SEC Information
Financial Executives Accounting research, credit risk review, benchmarking, compensation, M&A activities
Corporate Finance Company research, shareholder agreements, M&A details, joint venture and investor agreements, leads/
financing requirements
Lawyers Corporate legal proceeding, judgments, risk factors
Accountants Financials
Analysts Trend analysis, company research, benchmarking
Compliance Officers Financials, benchmarking; legal proceedings
About EDGAR OnlineAbout EDGAR Online
Today’s AgendaToday’s Agenda1
5
2
3
4
Drivers for companies to provide financial Drivers for companies to provide financial information in an open standard information in an open standard
Conclusion Conclusion
Future Trends
About the SEC EDGAR SystemAbout the SEC EDGAR System
Future Electronic DisclosuresFuture Electronic Disclosures Other Federal and State Regulatory Agencies: e.g. FDIC Continued International Expansion :
SEDAR (Canada) EDINET (Japan) PRV (Sweden)
Enhanced Filings – Technology and Processes Insider File Direct (Forms 4,5) Multimedia
XBRL Real Time Data Products Analytical Software
About EDGAR OnlineAbout EDGAR Online
Today’s AgendaToday’s Agenda1
5
2
3
4
Drivers for companies to provide financial Drivers for companies to provide financial information in an open standard information in an open standard
Conclusion Conclusion
Future Trends
About the SEC EDGAR SystemAbout the SEC EDGAR System
Future TrendsFuture Trends
Data Publishing, Analysis
and Reporting
Traditional Enterprise-centric Data Provider
Audience One-click information consumer Power user that takes training, (or online reader that tackles HTML tables or PDFs)
Type of Data Delivered
Self-serve, on-demand, within interactive (OLAP) analysis and personalized reporting functionality
Preconfigured reports with static charts and
graphs
Type of Data Delivery
Distributed widely across the Internet (Web Services)
Proprietary systems and internal enterprise systems/intranets
Data Volume Million-record files published online from
inexpensive Web servers
Terabytes protected by complex and expensive mainframes
Scope of Usage Anyone with a browser and connection to the Internet
Select enterprise elites
Drivers for companies to provide financial Drivers for companies to provide financial information in an open standard :information in an open standard :
Reducing the cost of and time to distribute information
Communicating with previously unidentified consumers of information
Supplementing traditional disclosure practices Increasing the amount and type of data disclosed Improving access to potential investors for small
companies. New regulations
About EDGAR OnlineAbout EDGAR Online
Today’s AgendaToday’s Agenda1
5
2
3
4
Drivers for companies to provide financial Drivers for companies to provide financial information in an open standard information in an open standard
Conclusion Conclusion
Future Trends
About the SEC EDGAR SystemAbout the SEC EDGAR System
