Only when you feel a visceral reaction to something that is broken you find the power and the determination to fix it.
For us, the “something broken” is the astounding amount of money, time and resources that businesses and Governments waste to extract usable information from their own operational and accounting systems.
Our founder, Gianluca Garbellotto, first experienced it on his own skin as a business user in a large financial institution, and it prompted him to start exploring the world of IT to create software tools to fix broken processes for his own benefit. He soon moved on to create an IT consultancy to make those tools available to other business users. Despite his success, he was still restless – he felt that much more could be done to develop smart software that could adapt to evolving business requirements over time without costly re-engineering or replacement.
This vision is now IPHIX® ’s vision. Business requirements change and evolve much faster than the logic hardcoded in software applications. No matter how much money and resources organizations large and small invest in software, they always find themselves using unsustainable processes to get the information they really need. Manual, time-intensive processes typically based on spreadsheets are the norm when it comes to internal and external reporting, data monitoring, auditing, and business intelligence. So, what is the solution?
We believe that the solution requires a fundamental change in the way in which software applications are designed – after all, as Einstein said, you can’t solve problems by using the same logic that created them, and he knew a thing or two about that.
Our view is that business data standardization is the key to designing flexible software tools where the logic that supports business requirements is not hardcoded, and can be shaped directly by business users. This means cheaper software that enables more efficient processes.
Business data standardization makes organizational data sustainable, which means accessible and automatically consumable in business processes without manual intervention and re-typing. With sustainable data everybody wins: we as software vendors and consultants can deliver real, innovative value, and our clients can invest more of their resources in what really matters to their core activity.
Our mission is to make the benefits of business data standardization a reality within reach of any organization, Governmental or private, large or small.
We have been around for a while (since 2004 to be exact) and we helped many Governments, businesses of all sizes and non-profit organizations globally benefit from business data standardization.
We are particularly proud of our role in the success of the two existing Standard Business Reporting (SBR) programs, SBR Netherland and SBR Australia, which are saving businesses and organizations in those countries millions of dollars every year.
We are also very proud of our recognized leadership in the standardization of transactional and detailed business data, the real enabler of sustainable data. The SICONFI program in Brazil is posed to enable unprecedented transparency and efficiency within their Federal, State and Local Government, and is a model for similar initiatives in the United States (DATA Act) and elsewhere. In the private sector, our signature Three Easy Steps offer is helping businesses and non-profit organizations in many countries realize the benefits of business data standardization quickly and inexpensively
Gianluca Garbellotto – CEO
Gianluca Garbellotto (GLG) is a pioneer of the Extensible Business Reporting Language (XBRL), the XML-based computer language that is rapidly being adopted worldwide to digitalize business and financial reporting.
He is a globally acknowledged expert on the business and technical aspects of XBRL and the XBRL Global Ledger Framework (XBRL GL), and has extensive experience in their implementation in the Government and the private sector.
With a leading expertise on Standard Business Reporting (SBR), the XBRL-based regulatory model that focuses on the reduction of compliance burden for businesses, and on the International Financial Reporting Standards (IFRS), Gianluca is a key contributor to several of the existing SBR government programs and IFRS jurisdictional implementations around the world.
He is a former member of the XBRL Standards Board and the current Chair of the XBRL Global Ledger Working Group as well as a member of the XBRL Best Practices Board and a United Nations/CEFACT Accounting and Auditing Domain Expert.
He is a frequent and sought out lecturer and trainer on XBRL and XBRL GL topics, and has authored numerous articles and white papers.
Yossi Newman – COO
His experience includes working with a wide range of clients including brokerage and investment firms, government securities dealers, mortgage banking entities and other public and private companies. He is an active contributor to audit and attestation standard setting and a recognized expert in accounting information standards. He has extensive experience advising executive management and industry leaders on the impact of new accounting information standards and related regulatory changes. Yossef is a leader in the global development and adoption of XBRL.
He has served on the Board of Directors of XBRL US Inc. and as a member of both the Standards Board and the Best Practices Board of XBRL International. He has worked extensively with a wide range of companies, helping them to understand and prepare for XBRL reporting requirements such as the SEC’s XBRL mandate and identify opportunities to leverage XBRL for internal benefits. He has also consulted with numerous software vendors and service providers in the development of their XBRL related software and services. In addition to the roles he has held at XUS Board of Directors and XBRL International Yossef has served on XBRL advisory boards to both the Financial Accounting Standards Board and the International Accounting Standards Board and on the XBRL Assurance Task Force of the American Institute of CPAs.
Zoran Babic – Senior Consultant - Digital Reporting, Australia
In his previous roles with the Australian Securities and Investments Commission, he played important roles in ensuring smooth adoption and compliance with the International Financial Reporting Standards by Australian entities.
More recently, he played a key role in the development of the Australian extension to the IFRS Taxonomy, published by the Standard Business Reporting Program.
Zoran is a passionate advocate for embracing technologies such as XBRL for standardization and exchange of financial information.
IPHIX® has provided consulting services and training for governmental agencies, regulatory bodies, leading consulting firms, and universities:
- Government to Government XBRL Reporting 75%
- SBR (Standard Business Reporting) 72%
- IFRS Jurisdictional Extensions 60%
- XBRL GL (Global Ledger) 96%
- XBRL Application Development 80%
- XBRL Training 40%
Share your story!
Do you spend vast amounts of time and effort, and deal with absurd processes to get the information you need to do your job?
SMALL/MEDIUM BUSINESSES NONPROFITS
Don’t just take it from us, see what our clients have to say
Secretaria do Tesouro Nacional, Brasil
Bermuda Monetary Authority
I recommend Mr. Garbellotto without reservation.
Australian Taxation Office, SBR Services And Operations, Standard Business Reporting
- XBRL subject matter expertise and best practices advise to the TDT and to Government agencies participating to the SBR program as required
- Development of SBR AU Reports (previously referred to as “reporting taxonomies”). SBR AU Reports were delivered for 50 SBR forms in scope. These need to be delivered in addition to the SBR AU Taxonomy (previously referred to as the “definitional” taxonomy)
- Architecture and development of the Australian extension to the International Financial Reporting Standards (IFRS) XBRL taxonomy according to the IFRS Taxonomy Architecture provisions and best practices and to the requirements of the SBR Program
- Ongoing training and skills transfer TDT and Government agencies
Mr. Garbellotto has worked with the SBR Program and specifically the Taxonomy Development Team to deliver the above-mentioned services during the Build and “Business Aa Usual” phase of the SBR Taxonomies. During these engagements, the SBR team have found:
- Mr. Garbellotto delivers high quality professional services
- Mr. Garbellotto has a high degree of adaptability and willingness to explore new ideas or challenges during the engagement
- Access to Mr. Garbellotto’s expertise and global subject matter experience has been very valuable in establishing the SBR Taxonomy
I have no hesitation in recommending him for mission-critical Taxonomy development and support work.
Company Commission of Malaysia
SBR Taxonomy Delivery And Integrity, Standard Business Reporting, Australia
A survey was sent out to the attendees after completion of the course […] The results of the survey have been collated, and the XBRL Training Survey Analysis show the shift in knowledge from prior to the training to after.
In general, the training was a success with an increase in knowledge base across the combined class average.