XBRL Is Here!
Now adopted by the world’s leading economies for external financial reporting, XBRL (eXtensible Business Reporting Language) has become the international standard for communicating company financial information to investors.
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IPHIX provides consulting services, training, and software tools to regulators who seek to introduce or improve XBRL reporting regimes in their jurisdictions, as well as to those companies who must comply with these mandates.
But financial reporting is only one function XBRL can perform. Its real value proposition is its ability to slash costs in corporate processes like data integration, business intelligence, internal and external auditing, and IFRS convergence. The use of XBRL GL — an XBRL language for internal company reporting of manufacturing, sales, human resources, and all major functions of company operations — has the potential to revolutionize the automation of manual and inefficient data-related processes.
Recognizing the enormous potential of XBRL GL for companies’ everyday information needs, IPHIX is now spearheading the DEXT (Deeply Embedded XBRL Toolkit) Initiative that comprises:
- XBRL Systems for deployment of XBRL GL information technologies and systems to streamline all corporate internal and external processes related to data integration, monitoring, auditing, and reporting; and
- Wiki Systems for creation of libraries of (a) charts of accounts and mappings from those COAs to multiple-end reporting taxonomies; and (b) validation rules, controls, and business rules to support data-related processes in an application-independent format.
IPHIX Founder and President Gianluca Garbellotto is an XBRL pioneer who, through his service to XBRL International, has played a key role in developing the language and supporting taxonomy creation. He is Chair of the XBRL Global Ledger (XBRL GL) Working Group and recognized worldwide as a leading authority on the use of XBRL GL for streamlining everyday business operations. Importantly, Mr. Garbellotto is spearheading the DEXT (Deeply Embedded XBRL Toolkit) Initiative that promises to greatly increase the internal use of XBRL GL by companies through an expansion of the power, breadth, and number of supporting software applications and professional services.
This website describes what IPHIX is about, and its consulting and training services, particularly regarding implementation of XBRL GL. It also offers resources to help users plan and adopt XBRL GL in their organizations. We encourage you to contact us with any questions you have about XBRL, XBRL GL, or IPHIX products or services.