ir websites and xbrl rendering - july 30, 2009
DESCRIPTION
This presentation was given as part of a panel discussion Best Practices and Current Approaches for Rendering XBRL at the XBRL-US developer Technology Workshop & Summit recently held in Santa, Clara, CA in which presenters discussed current approaches and emerging practices for preparing and rendering XBRL content.TRANSCRIPT
IR Websites and XBRL Rendering
Presented by: Darrell HeapsCo-Founder & CEOQ4 Web Systems
[email protected]/darrellheaps
July 30, 2009
About Q4 Web Systems
SaaS platform to manage IR websites and communications
Complete CMS with workflow and collaboration
Customizable best practice templates
Detailed website records and audit trail
Social media and XBRL integration
www.q4websystems.com
XBRL & IR Websites
What I’m going to cover
XBRL mandate
IR websites and the social financial web
Investor relations adoption
Our view of what’s required
Current and future solutions
XBRL Mandate
XBRL must be hosting data on filer’s IR site
Must remain there for at least 12 months
Within same calendar day
No requirement to do more than provide the RAW XBRL
XBRL and IR Websites
Companies are doing the bare minimum with XBRL on their websites. ‘They’re complying with the SEC rules by putting their XBRL statements on the web but they aren’t giving users any tools to play around with them,’
Neal Hannon, senior XBRL consultant at Cambridge, Massachusetts-based Gilbane Group. IR Magazine Blog, July 29, 2009 http://bit.ly/pTEle
IR website is a primary channel
Source: Rivel Research
32%
43%
14%
8%
3%
75% of pro investors use corporate websites daily or weekly
Daily
Weekly
Monthly
Yearly
Never
Global Social Media Use0%
10%
20%
30%
40%
50%
60%
70%
80%
27%
36%
58%
67%
67 % of global online population use social networks and blogs
Sep-06Jun-07Mar-08Mar-09
Source: Universal McCann Wave 3 & Nielsen Online reporthttp://bit.ly/11il0Y
Social media defining online experience
Financial Blogs and Social Networks
Largest financial blog aggregator Partnered with Yahoo!Finance
4 million unique users/month – 25% institutional investors
Trading social network. Based on Twitter. Available through Bloomberg.
Wiki finance portal. Social interactive data.
Investor Relations Adoption
Until IROs see XBRL as a strategic tool they will always look to the minimum to be compliant
What value can IRO provide to their investors that they are not currently offering? (Basic tables not enough)
Focus on IROs and investors and giving them innovative tools that are immediate, valuable and shareable
Data should be discoverable, portable and viral
Our view of what’s needed
Render financials on the IR website Interactive features Discoverable by search engines Download of raw XBRL Maintain link to authority (SEC database) URL is permanent
http://mycompany.com/SECFilings/20090615/10K/Exhibit101/MyCompany.xsd
Charts and visualization Shareable and embeddable Atomized content (i.e. share just income statement)
Q4 XBRL Examples
Viewer and XBRL Community
Beta
Real-time rendering from SEC
Informative Pop-ups
Links to Source files for download
Shareable and Embeddable
What’s to come
Graphs and Visualization
Atomized content sharing and embedding
Example concept from wikinvest.com http://bit.ly/11Ju6U
What’s to come
Graphs and Visualization
Atomized content sharing and embedding
Example concept from wikinvest.com http://bit.ly/11Ju6U
Connect with Q4www.q4blog.comwww.twitter.com/q4websystems www.twitter.com/darrellheaps