IPHIX’s XBRL Inside Training: Leveraging XBRL to cut costs, streamline operations, and boost ROI
I am very encouraged by the positive feedback after the first edition of the XBRL Inside training classes in March 2012, and also by the reactions that I am still getting from those who attended my hands-on sessions at the 24th XBRL International Conference in Abu Dhabi. Those sessions were inspired by the same idea behind XBRL Inside: providing practical tools and actionable knowledge on leveraging XBRL within a business or an organization to those who can benefit from it the most – business users who constantly deal with manual, costly, and inefficient processes to access, control, analyze and report on business data.
I am also encouraged to see growing interest around this approach from small businesses (SME) and not-for-profit organizations (NFP). And since publicly available examples of the benefits of this approach from SMEs and NFPs are now available – such as the Maryland Association of CPAs (MACPA) case study and the recent press release from XBRL International, Inc. – and more will become available in the near future I expect that it will be easier and easier to make the point that XBRL is not just about compliance to a regulatory mandate and it is not something that only large, global corporations subject to such a mandate should consider.
XBRL Inside is the first and only training course that focuses on XBRL as the enabler of internal data-related process benefits and cost savings. I did my best to distil in it the hands-on experience that I accumulated over the years as one of the main proponents, and certainly the main implementer, of the combined use of XBRL Global Ledger and other XBRL taxonomies within the corporate information system. I know for a fact that those who attend will be able to put their newly acquired knowledge to work immediately and that by doing so they will gain more understanding of the possibilities and will find more and more ways to leverage XBRL in their day-to-day activities.
I definitely look forward to the upcoming sessions – we will hold one every month, next up is May 8 2012 – and to the interaction with the attendees after they go back and start applying what they learned. That is by far the most exciting, and rewarding, part.