Ez-XBRL Announces Automated iXBRL Conversions Using Patented Technologies

Ez-XBRL Announces Automated iXBRL Conversions Using Patented Technologies

By admin 13 March, 2019

Ez-XBRL Solutions, Inc. announced today its new Inline XBRL (iXBRL) solution that enables SEC registrants to rapidly convert their existing XBRL tagged data to the iXBRL format.

“A process of conversion that has largely been manual and time-consuming will be completely transformed by utilizing our patented technologies to enable a high degree of automation, speed, efficiency and cost-savings,” said Aneet Kumar, President, Ez-XBRL Solutions, Inc.

The SEC announced the new rule in 2018 where operating companies that currently submit periodic financial statements in XBRL will be required, on a phased basis, to transition to the iXBRL format. Large accelerated filers that use U.S. GAAP will be required to comply beginning with fiscal periods ending on or after June 15, 2019. Accelerated filers that use U.S. GAAP will be required to comply beginning with fiscal periods ending on or after June 15, 2020. All other filers will be required to comply beginning with fiscal periods ending on or after June 15, 2021. Filers will be required to comply beginning with their first Form 10-Q filed for a fiscal period ending on or after the applicable compliance date.

“The availability of this new automated solution that facilitates the rapid and accurate conversion of XBRL data to iXBRL is a significant milestone in the SEC compliance market,” said Ms. Kumar.

With its immediate availability, Ez-XBRL is in a position to assist companies that have used traditional processes for creating separate HTML and XBRL filings to transition to the new format well in advance of the phase-in periods required by the SEC.

Ez-XBRL also provides expert services in authoring, formatting, and tagging of financial reports, as well as the generation and validation of XBRL and iXBRL documents. Ez-XBRL has been providing similar services since 2010 to companies in the UK, and since 2018 in South Africa. The company’s renowned and popular XOR portal provides a powerful platform that enables user-friendly and collaborative workflow management, reviewing capabilities, and the validation of XBRL and iXBRL documents prior to filing with the SEC.

Headquartered in the USA, Ez-XBRL supports customers in several other countries, including the UK, India, Republic of South Africa, Republic of Ireland, and the European Union. The company’s solutions are being utilized by a large number of corporations in each of these countries to fulfill their regulatory compliance requirements. Ez-XBRL also creates analytics solutions utilizing its patented natural language processing algorithms to enable investment analysts, auditors, hedge funds, corporate law firms, institutional investors, and many others to more effectively analyze corporate regulatory filings using a combination of structured and unstructured data analysis tools. Contact us to learn more.