ifrs, xbrl
TRANSCRIPT
IFRS, XBRL and Business Performance Management (BPM)
Control, confidence and automation of global compliance reporting
Agenda Finance industry trends Business Performance Management (BPM)
defined BPM’s value proposition Automated delivery of compliance reporting Benefits, future leverage and client activities
Introduction Trevor Walker
VP, Product Marketing Cartesis Driving global product strategy 10 years BPM and reporting experience 4 years in IT and integration infrastructures
We provide multinational companies with a unique best of breed, real-time
collaborative business performance management solution to “deliver the whole
story behind the numbers" with unparalleled clarity and insight.
Cartesis is a leading global software provider focused on Business Performance Management
Cartesis has been delivering BPM for over 14 years Full Service Software
Company founded in 1990 The Cartesis Suite
Cartesis Magnitude, Magnitude Planning, Magnitude iAnalysis and Cartesis ICS
1990
1997
1999
2002
2004
The Top Five CFO Challenges from a recent survey
Improving performance management
Improving governance, controls, risk management
Improving planning, forecasting and budgeting
Improving access to appropriate information
Improving competencies/skills
Four of the top five challenges are dependent on creating an integrated BPM infrastructure for
unified reporting and performance management
These trends drive toward key best practices in performance management
Integrated BPM process and system framework
Streamlined data flows
Enhanced data granularity and transparency
Consistent fiscal and management data views
Unified compliance and management reporting
Ability to expose metrics to dashboards/scorecards for monitoring, alerting and optimization
Ability to layer in internal and external benchmarking
So what is Business Performance Management (BPM)?
BPM is a set of integrated, closed-loop management and analytic processes, supported by technology, that address financial as well as operational activities.
BPM is an enabler for businesses in defining strategic goals, and then measuring and managing performance against those goals.
Core BPM processes include financial and operational planning, consolidation and reporting, modeling, analysis, and monitoring of key performance indicators (KPIs) linked to organizational strategy.
Corporate Governance
Strategic Planning Performance Measurement Business Modeling Budgeting
Finance Customer Human Resources
Operational Finance Analysis & Reporting Forecasting Consolidation
Segmentation Profitability Market Success Factor Analysis
Salary & Comp Planning Employee turnover & retention Incentive management
Unifies financial, compliance, risk and management reporting
Regulatorycompliance
BPM&
Processmanagement
BPMIntegration
- ERP, SCM, PLM,CRM and HCM
- BI
BPMAnalytics- Scorecard, dashboard
SoftwarePerformance
& Availability
Real-Time BPM
FinancialConsolidation& Reporting
Planning/budgeting- Discrete Deterministic
- Discrete Predictive- Continuous Predictive
Technologytrends
-BPM Components,SOA, web services
-BPM Metadata repository-Distributed access-Central hub/portal
BPM and the impacts of XBRL
Regulatorycompliance
BPM&
Processmanagement
BPMIntegration
- ERP, SCM, PLM,CRM and HCM
- BI
BPMAnalytics- Scorecard, dashboard
SoftwarePerformance
& Availability
Real-Time BPM
FinancialConsolidation& Reporting
Planning/budgeting- Discrete Deterministic
- Discrete Predictive- Continuous Predictive
Technologytrends
-BPM Components,SOA, web services
-BPM Metadata repository-Distributed access-Central hub/portal
BPM and the impacts of XBRL
Value proposition of XBRL with BPM
Bridge the gap between systems, accounting standards and global reporting
Enables standard way of tagging financial information for structure, content and meaning
Direct comparability of internal and external financial information
Essential part of making IFRS data globally accessible, consistent and comparable
XBRL solves current issues with global financial and compliance reporting
Thousands of companies release financial results internally and externally daily, monthly, quarterly, and annually
Contents are not organized Processes are not repeatable Lots of data must be re-keyed No easy way to compare internally, let alone externally
XBRL provides strategic and cost reduction benefits
Streamlined processes for collecting, comparing and reporting financial information
Reduced costs Improved financial communication and transparency Increased data accuracy Direct comparability Multi languages and accounting standards support Improved risk management and control Ease of maintenance Faster, more reliable and extended scope of analysis
capabilities for better decision-making
Strategic value is the direct comparability of internal and external financial information
And the automation, transparency, and comparability
One time setup of tags and maps for automated processing
Rich set of tools embedded in products like Cartesis Magnitude
Transparency from source through disclosure to compliance agencies
Investors and analysts easy side-by-side and line-by-line comparison
Different languages and accounting standards in a single solution delivers on the “single truth” message
Financial Publishers & Data Aggregators
Companies Trading Partners
Management Accountants Auditors Regulators
Investors Central Banks
Other Stakeholders
Organizations are challenged by many reporting needs and no standard delivery
Legacy ERP CRM SCM…GL
Financial Control,Planning, Forecasting, Process, Validation, etc…
Sources
Disclosure
Financial Publishers & Data Aggregators
Companies Trading Partners
Management Accountants Auditors Regulators
Investors Central Banks
Other Stakeholders
XBRL optimizes the information supply chain with a standard way to deliver reports
Legacy ERP CRM SCM…GL
Financial Control,Planning, Forecasting, Process, Validation, etc…
Sources
Disclosure
XBRL
XBRL
Cartesis is involved globally and strategy to match client and market needs
Member of the IASB IT Discussion Group and will be a member of the French XBRL jurisdiction
Our strategy Step 1: Publish Step 2: Consume In Parallel: Embedded capabilities & setting
Allowing organizations to leverage and capitalize on their BPM investments
6 steps to publishing XBRL from Cartesis1. Import the published taxonomy2. Map chart of accounts to taxonomy
3. Pull Cartesis Magnitude data into an XBRL instance documents
4. Supplement taxonomy items and instance documents as required
5. Run controls and calculations included in the taxonomy
6. Publish and email the XBRL file
Setup Once
Repeatable
Publishing XBRL compliance reports – Step 1
AccountCharacteristics Consolidation XBRL Data
Generation
OpeningMovement
Closing XBRLreportCollect
dataApply
Taxonomy -Map
Sendreport
SupplementalData
Data Warehouses
RDMS XMLDB
Consuming XBRL for comparability, analysis and benchmarking – Step 2
• Secure receive• XBRL/XML validation• Cartesis Magnitude and
Multiple DB’s• Localized mapping• Authorization• Direct update
Consume
Integrator
IASCTaxonomy
World Wide Web XBRL
Cartesis Magnitude
Cartesis Magnitude product enhancements for embedded XBRL capabilities and settings
Will be based on what we learn in steps 1 and 2 Plans include
Administrative capabilities to configure XBRL for publication and consumption
Setup and Manage via XBRL
Aggressively delivering against the strategy to empower our clients with XBRL
Clear strategy and roadmap for delivery Engaged with clients and recruiting pilot
references Still recruiting clients Will guide them to referencability in Q2 2005