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SAP Implements XBRL

SAP has teamed up with UBmatrix and reports that they have "XBRL Reporting Optimized for SAP Software Environments. You can read about this in their SAP Solution Brief: SAP BusinessObjects XBRL Publishing by UBmatrix.

SAP goes on to say they provide "Support for the 'last mile' of finance - The application streamlines finance corporation, reporting, and publishing processes without sacraficing data quality."

In the past, accounting software vendor support for XBRLwas, well, let's be nice and say optimistically stated. Seems like the SEC's choice to make public companies use XBRL changes the game.

Here is some info directly from the SAP solution brief:

The SAP® BusinessObjects™ XBRL Publishing application by UBmatrix enables business users to leverage data in SAP Business Suite software and SAP BusinessObjects enterprise performance management solutions and prepare eXtensible Business Reporting Language (XBRL) documents. Designed for ease of use, speed, and flexibility, the application gives you greater control over the XBRL generation process for the communication of financial and business data.

Business Challenges
• Pressure to implement an XBRL publishing solution quickly
• Desire for more control and flexibility than XBRL outsourcing offers
• Limited in-house resources who can work with complex XBRL syntax directly

Key Features
• XBRL taxonomy navigation – Quickly search and filter large, complex taxonomies to find tags relevant for your business data
• Mapping – Map taxonomy tags to data using a drag-and-drop mapping environment
• Validation – Use comprehensive validation functionality to confirm accuracy and completeness and identify issues
• Disclosure inclusion – Link to and import management discussions, disclosures, footnotes, and other narratives created in Microsoft Word to XBRL documents
• Taxonomy extension – Easily extend published XBRL taxonomies to include other information
• Compliance – Be confident that your XBRL documents comply with the business rules of third-party taxonomies

Business Benefi ts
• Reduced time and effort to create XBRL documents thanks to integration with Microsoft Excel, taxonomy navigation tools, and drag-and-drop functions that simplify mapping
• Lower audit costs because auditors can “slice and dice” your financial data quickly and easily, enabling them to perform audits faster, more accurately, and at lower cost
• Greater confidence in your financial disclosures because data and mappings are validated as accurate, complete, and in compliance with business rules defined by third-party taxonomies
• Increased flexibility and control and lower costs by eliminating the need for XBRL outsourcing services



Posted on Wednesday, February 18, 2009 at 12:21PM by Registered CommenterCharlie in , | Comments1 Comment

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Reader Comments (1)

This looks nice but it will still take time for accounting teams to sift through the 16,000 tags available for US GAAP, to create new custom taxonomies and tags, and to get a better understanding of XBRL's strengths and weaknesses at this point. This is far from prime time ready.
February 19, 2009 | Unregistered Commenterjust a thought

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