Bolagsverket event – 28/11/2016 Presentation från INVOKE Antoine BOURDAIS Bolagsverket Event – Invoke Presentation
Corporate overview Regulatory reporting specialists Software company founded in 2001 Headquartered in France with offices in the United Kingdom, Luxembourg, Sweden and Portugal 110 employees 3 business lines Tax reporting Group reporting Regulatory reporting Renowned regulatory expertise In-house team of domain experts Trusted provider to both supervisory authorities and industry Bolagsverket Event – Invoke Presentation 2
Who are our clients ? Financial Services Supervisory authorities Insurance industry Banking sector Bolagsverket Event – Invoke Presentation
Who are our clients ? Other sectors Industrial Pharma. & Media / Food Industry Textile Capital goods Transport Distribution Services goods Cosmetics Entertain. Bolagsverket Event – Invoke Presentation
Our approach: Making XBRL accessible to all Invoke XBRL Expertise Invoke XBRL approach Invoke XBRL membership Our mission statement • Direct member XBRL international Provide XBRL Solution that are : • Member XBRL Europe • • Member XBRL US user-oriented • • Founding member XBRL France easy-to-implement • Generic XBRL working groups and conferences • relevant to every user profile • Member of a lot of XBRL working groups (International, Europe…) • Sponsor of XBRL international conferences since 2007 • Regular sponsor of other XBRL events Added-value • Unique alliance of technical and business expertise Bolagsverket Event – Invoke Presentation 5
The XBRL Experience XBRL A « data-centric » technical standard for « table-centric » business users Business People Tech Guys Bolagsverket Event – Invoke Presentation 6
The XBRL Experience A unique standard A variety of business domains Business Register Tax Authority Market Authority Banking Supervisory Authority Insurance Supervisory Authority Bolagsverket Event – Invoke Presentation 7
The XBRL Experience The key role of the taxonomy Which business templates ? Fixed tables – Open/Dynamic tables – Text ? Visualisation of XBRL Data ? iXBRL vs XBRL (table linkbase) Filers classification How many entry points ? Taxonomy modelling DPM approach ? Multidimensional ? Business controls Usage of XBRL formulae ? Comparability Extension of closed taxonomy ? Bolagsverket Event – Invoke Presentation 8
A unique core component… A generic, dynamic XBRL web spreadsheet • User-friendly • Familiar to business users • Calculation and formatting features Bolagsverket Event – Invoke Presentation
A unique core component… A generic, dynamic XBRL web spreadsheet • Natively XBRL • Each cell is an (XBRL) object Bolagsverket Event – Invoke Presentation
A unique core component… A generic, dynamic XBRL web spreadsheet • Data-model driven • Taxonomy-driven Bolagsverket Event – Invoke Presentation
A unique core component… A generic, dynamic XBRL web spreadsheet • Support of typed dimensions • Dynamic rendering Bolagsverket Event – Invoke Presentation
A unique core component… A generic, dynamic XBRL web spreadsheet • Available through a regular web browser Bolagsverket Event – Invoke Presentation
Our solution – 3 approaches for supervisory authorities « Specific » « Standard » « Strategic» Approach Approach Approach Data collection & XBRL Components Data collection Data analysis ■ ■ ■ Component approach to Out-of-the-box web Complete reporting integrate the missing XBRL portal to manage and platform to manage the For which needs technology bricks into an monitor the disclosure regulatory reporting and existing information system process of the regulatory data Business reports Intelligence analysis Solutions ■ ■ XBRL components suite Centralization of Centralization of composed of: regulatory reports regulatory reports collected in XBRL, Excel, collected in XBRL, Excel, ■ XBRL Designer: Design of PDF, Word, etc. PDF, Word, etc. ■ ■ XBRL templates from any Monitoring of the data Monitoring of the data taxonomy collection process collection process ■ XBRL Reader/Writer: Web according to the regulatory according to the regulatory spreasheet to render or calendar calendar ■ ■ Description create XBRL instances Rendering of the XBRL Customisable Business through the XBRL templates instances through the Intelligence platform ■ XBRL Validator: processing of business templates matching the XBRL ■ XBRL validation Processing of the XBRL architecture ■ ■ XBRL Analyzer: XBRL BI validation (including Event Manager to capabilities formulae for the business customize workflows and rules validation) automatic tasks ■ ■ Versioning and archiving Versioning and archiving Bolagsverket Event – Invoke Presentation 14
Our solution – 2 approaches for regulated entities « Tactical» Approach « Strategic» Approach ■ ■ Web portal (hosted or in- Complete reporting house) to produce platform to produce For which needs regulatory reports from regulatory reports and Excel files and/or manual manage the disclosure keyboarding process Solutions ■ ■ Collaborative application Automatic upload of ■ « Excel to XBRL » data coming from source conversion - Manual data systems or Excel files ■ entry Workflow to manage the ■ XBRL Validation collaborative production ■ process Management of ■ Description Business controls national-specific ■ Production of regulatory technical requirements reports, narratives and ■ Monitoring of the customized reports disclosure process ■ Monitoring of the XBRL • Regulatory calendar disclosure process • Process statistics / progress bars Bolagsverket Event – Invoke Presentation 15
Our solution – How it operates ? Bolagsverket Event – Invoke Presentation 16
Supporting the full lifecycle of supervision ■ Centralisation of regulatory reports Upload of XBRL files or Excel files Other format (Word, PDF, XML…) Manual or automatic upload (U2M or M2M) Approval (electronic signature option) ■ User-friendly approach Intuitive regulatory calendar management Error-handling directly linked to the tables Visual & XML feedback provided to users ■ Easy to maintain Just one file to import to update the whole system in case of changes to a taxonomy (Kit) Possibility to automate 100% of the file workflow with automated extraction to a BI tool ■ Archiving Versioning and report archiving Complete audit trail of user actions Bolagsverket Event – Invoke Presentation 17
Live Demo : Invoke e-Regulatory portal Bolagsverket Event – Invoke Presentation 18
Live Demo : a puzzle game Supervision through the e-Regulatory « XBRL Gateway » Controlling and administrating submissions Monitoring of received files Submission through the e-Regulatory « XBRL Gateway » Excel format XBRL Format Automatic upload Pure XBRL configuration From an XBRL taxonomy to the XBRL Gateway thanks to Invoke XBRL Designer Bolagsverket Event – Invoke Presentation 19
Ou Our di differentiators • Invoke’s DN DNA • Internalization of Subject Matter Expert teams (regulatory watch, tax experts, …) • A close, day-to-day collaboration with regulatory bodies and regulated entities • Pioneering innovative technological choices & an enduring commitment to furthering new standards (XBRL Experts) • More than XBRL technology bricks to address the different needs of our clients • XBRL reporting solutions already trusted by numerous international clients • Standard product approach : same tools for all our clients. We value clients loyalty : we never charge them for new releases. • Easy-to-maintain software solution in case of any regulatory evolution
Antoine BOURDAIS abourdais@invoke.fr
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