FUJITSU Software Interstage XWand


Complete XBRL Software Offering

Powering the next generation of financial reporting

Fujitsu offers the world's most comprehensive and complete software to cater for all stages of XBRL implementations. Interstage XWand is the outcome of Fujitsu's pioneering efforts to evolve the XBRL standard. It is a market-tested solution used by regulatory bodies, auditors, filers, analysts, and major enterprises in over 34 countries around the world. Powerful software development kit (SDK) and tools make creation, validation, and analysis of XBRL documents dramatically more efficient and cost-effective.

Interstage XWand fulfills the needs of all participants of the financial reporting supply chain:

ISV/Service Provider

Enhance existing offerings, develop new solutions, and expand business

ISVs (Independent Software Vendors) and service providers can harness the benefits of XBRL by incorporating XBRL, including Inline XBRL (iXBRL), into their solutions to enhance their offering, attract new customers, and expand their business. ISVs need to be able to rapidly and efficiently consume, generate, and validate XBRL documents within their solution.

To take full advantage of XBRL, adoption of the latest XBRL standards and adherence to regulatory mandates from the US SEC, UK HMRC (iXBRL usage), EBA, EIOPA and other regulatory bodies needs to be quick and simple. Developers need to have maximum degree of control and agility to rapidly enable the required XBRL functionality while ensuring adherence to all aspects of XBRL specification. Multiple input and output formats need to be fully supported. XBRL-based approach enables ISVs to increase the level of automation and reusability to achieve a greater degree of efficiency and cost-effectiveness for their solutions.

Service providers can benefit from using XBRL by lowering costs and increasing efficiency of generating regulatory reports. Ability to rapidly adopt to XBRL specification changes with increased level of automation is needed. XBRL-based approach must support the ability to reuse patterns, documents, templates, and process to improve the level of efficiency. Multiple data formats need to be supported, along with support for conversion to non-XBRL-based reports to communicate with non-XBRL aware clients. Service providers must to be able to process XBRL documents, including iXBRL, in bulk and customize validation and report generation to improve the efficiency of their services.

Interstage XWand offers full-featured, comprehensive and enterprise grade platform with extensive APIs that ISVs and service providers can leverage to rapidly build and deliver XBRL-enabled solutions that meet their customers' needs. Components within Interstage XWand that support these needs of the ISVs and service providers include:

  • Software development kit (SDK)
    - Integrate XBRL and iXBRL into existing applications leveraging powerful APIs for both Java and C#
    - Developer can focus on business logic rather than tackling the complexity of XBRL
    - Complete documentation and sample programs
  • Robust, enterprise grade platform
    - Powerful XBRL processor allows access to all XBRL features and functions
    - High performance and scalability for enterprise grade solutions
    - Tuned for heavy concurrent usage to handle large loads
  • Accelerate time-to-value of your XBRL-enabled Applications
    - Modular architecture
    - Extensive integration capabilities
    - Easily re-brandable software
    - Extensive commitment and development investment from Fujitsu

ISVs and service providers can leverage Interstage XWand to get the best and most complete XBRL and iXBRL coverage within their products. Interstage XWand provides a framework for incorporating XBRL into applications that can analyze, collect, compare, and disclose financial information rapidly and cost-effectively. Support for all aspects of the latest XBRL specifications, including iXBRL, ensures that solutions and service providers leverage the full power of XBRL without investing in additional resources. Interstage XWand lets developers focus on creating the best XBRL-enabled applications in the shortest amount of time and with the least amount of effort.

Interstage Partner Program

Interstage Partner Program enables ISVs and service providers to accelerate delivery of their solutions to market by taking advantage of the comprehensive, industrial strength Interstage XWand platform, proven implementation best practices, and extensive Fujitsu partner resources. The partner program provides access to support and service resources that include dedicated account managers, consulting teams, customized training programs, and extensive development, co-marketing, and sales support. Leveraging Interstage Partner Program, ISVs and service providers are able to rapidly incorporate XBRL functionality into their offering to meet their clients' needs.

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Ensure regulatory compliance and gain control of the reporting process

Preparers of regulatory reports of any size or industry, from diverse global manufacturers to mutual fund companies, can benefit from using XBRL. To fully benefit from an XBRL-based approach, they must be able to increase the level of automation of production, verification, distribution, and reuse of financial reports.

Avoiding time-intensive and error-prone manual data gathering and transformation tasks is imperative to increase accuracy, consistency and reliability of financial data. Preparers must be able to use XBRL to automate data analysis from multiple sources, including databases, ERP & CRM applications, and iXBRL documents, to improve timeliness and effectiveness of their decision making process in order to achieve better business results.

Interstage XWand offers extensive and easy-to-use tools that address the most demanding requirements of XBRL filing preparers. Preparers would most commonly use the Taxonomy Editor, Taxonomy Diff, Instance Creator, Sheet Mapping Designer, Sheet Instance Creator and the Word Tagger in order to address their needs while adhering to the latest XBRL standards and rules, including Dimensions, Formulas and iXBRL:

  • Taxonomy Editor & Taxonomy Diff
    - Create, extend and validate taxonomies
    - Flexible search to find concepts quickly
    - Compare concepts and their relationships (linkbases)
  • Instance Creator
    - Provide facts, notes for a single report or multiple reports
    - Run standard and customized (Formulas, XWand Query) validations
    - Extract XBRL instance from iXBRL
    - Generate documents in other formats from XBRL e.g. HTML
  • Sheet Mapping Designer & Sheet Instance Creator
    - Map spreadsheet cells to taxonomy once
    - Automatically create XBRL instances from the mapping for repurposing
  • Word Tagger
    - Tag facts directly in Word documents
    - Validate iXBRL documents against regulatory guidelines, e.g. HMRC Inline XBRL Style Guide, UK GAAP Developers and Preparers Guide, etc
    - Generate template documents with pre-built tags
    - Generate XBRL and iXBRL documents

Using the XBRL tools from Interstage XWand allows the preparers to reduce costs and increase efficiency of the processes related to gathering data, preparing and reviewing the financial reports. Accuracy and reliability of financial data is dramatically improved by avoiding people-intensive and error-prone manual data transformation tasks. Leveraging the advanced features of Interstage XWand, preparers can provide a higher level of standardization in report preparation and create a service differentiation through accurate reports and faster reviews. Within the enterprise, the added accuracy and expedited reporting cycles will be instrumental in improving relations with investors, financial institutions, analysts, and regulators alike while meeting all the necessary compliance requirements.

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Improve reliability of reports and procedural audit

Auditors can leverage XBRL to increase speed, reduce cost, and significantly improve reliability of the auditing and accounting process. To take full advantage of XBRL-based approach, auditors must be able to gather and analyze financial performance data more efficiently.

Validating company's financial data against XBRL specifications and ensuring the use of appropriate XBRL tags needs to be accomplished with ease and effectiveness. They can use XBRL to assess the accuracy of the data more rapidly and reliably. Costly and time-consuming manual tasks within the audit process need to be eliminated where possible, to improve overall productivity, accuracy and reliability. Auditors must be able to ensure that the right process is followed in generating the final report and verify that reported data is compliant with the regulatory guidelines.

As a full-featured XBRL processing platform, Interstage XWand is equipped with several tools to assist the auditors in assessment of the XBRL documents, including iXBRL, of their clientele. The most commonly used tool for the auditor would be the XWand Viewer, Instance Dashboard and the Formula Editor. These tools will help to serve the following needs:

  • Formula Editor
    - Edit and test formulas for verification, transformation and analysis of instances
  • XWand Viewer
    - Validate documents against XBRL 2.1, iXBRL, and Dimensions specifications as well as regulator specified guidelines
    - Create customized validation rules using SQL Query
    - View validation reports in Microsoft Excel, HTML and other formats
    - Provide multiple views of the reports and underlying taxonomy
    - Compare and contrast any two instances
    - Add comments to each component of XBRL data and share them with other users
  • Instance Dashboard
    - Compare and analyze multiple reports against pre-built and user defined matrix between Instances
    - Analyze across multiple timeframes (e.g. year-over-year analysis)

Besides using the tools highlighted above, auditors can also embed the XBRL processing engine of Interstage XWand into their own tools and applications in order to handle XBRL along with other data. The XBRL-enabled Decision Platform provided by Fujitsu includes communication and collaboration capabilities, using state of the art workflow technology which also serves the auditors needs.

Interstage XWand provides efficiencies at both, the XBRL data and the audit process level, ensuring maximum accuracy and efficiency through the complete audit process. The reliability and configurability of the tools guarantees thorough checking of the XBRL documents allowing the auditors to focus on deeper analysis and identifying material defects in the reports. The flexible automation platform allows the auditors to automate and optimize their complex audit processes to better align with the specific needs of their clients. Using the software development kit (SDK), auditors can quickly adapt their existing, and tested, infrastructure to process XBRL documents with no loss in Service Level Agreements (SLAs).

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Gain quicker and better quality investment advice and decisions

Analysts and investors can realize the promise of XBRL by benefitting from more thorough, and accurate financial analysis allowing them to provide more accurate and timely investment advice. To fully capitalize on XBRL-based approach, analysts need to compare and analyze data from multiple sources for more extensive and accurate analysis of broader range of industries and companies.

Performing financial data analysis and report creation with ease, speed, and increased level of automation is critical for achieving greater accuracy, transparency and cost-effectiveness. Reuse, repurpose, and redistribution of data and analysis criteria in XBRL, including Inline XBRL (iXBRL) documents, are necessary for a more efficient access to the financial information. In order to deliver more timely and accurate view of financial performance, analysts need to be able to focus on value-added analysis efforts, instead of time-intensive data gathering activities.

Interstage XWand offers powerful and feature-rich capabilities that address the most demanding requirements of analysts and investors for analysis, comparison, and benchmarking of financial data. Chief amongst them are the Instance Creator, Formula Editor, Instance Dashboard and Data Mapping tools that address the following needs:

  • Instance Creator
    - Run custom reports (Formulas, SQL Query)
    - Extract XBRL instance from iXBRL
  • Formula Editor
    - Edit and test formulas for verification, transformation and analysis of instances
  • Instance Dashboard
    - Flexible and multifaceted analysis of multiple instance documents
       a) From companies across one or more industry segments
       b) From the same or different industries and across multiple timelines
    - Powerful search and filter capabilities for easier review of the data
  • Data Mapping
    - Facilitate transfer of XBRL data into other applications and databases for graphing, charting, and analysis
    - Reformat, repurpose and redistribute XBRL data

Analysts and Investors benefit from Interstage XWand by being able to capitalize on quicker and better quality investment analysis and advice. Financial data analysis and report creation is performed with greater transparency, clarity, efficiency and at a lower cost. Interstage XWand enables sophisticated financial analysis across broader range of companies and deeper set of information with ease, efficiency and accuracy. Analysts are able to focus on value-added efforts to deliver faster, clearer, and more accurate view of company's financial performance.

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Efficiently manage the processing of XBRL documents

Regulatory authorities around the world are embracing the use of XBRL to dramatically improve efficiency, quality and accuracy of financial reporting. To take full advantage of XBRL, regulators need to formalize the reporting requirements by creating XBRL taxonomies. This effort has to be accomplished with speed and confidence while adhering to the latest XBRL standards, including XBRL 2.1, Dimensions and Formulas. To ensure that the reports are easily viewable and accessible, the use of Inline XBRL (iXBRL) is also required by regulators, such as the UK HMRC.

Analysis of the use of the taxonomies and ability to easily modify them is critical in evolving the reporting regulations. Regulatory agencies need to also verify submitted data to ensure compliance with structural and reporting guidelines and analyze them quickly and reliably to ensure quality, accuracy, and consistency.

Amongst the various tools available within Interstage XWand, regulators would most commonly use the Taxonomy Editor, Instance Creator, XWand Viewer and Formula Editor to address the following needs:

  • Taxonomy Editor
    - Create, extend, and validate XBRL taxonomies with ease and effectiveness
    - Leverage the latest XBRL standards and rules to support XBRL 2.1, Dimensions and FRTA
  • Instance Creator
    - Extract XBRL instance out of iXBRL documents
    - Validate XBRL instance against
       a) Latest XBRL specification
       b) Regulatory guidelines like the SEC's EDGAR Filer Manual, HMRC Inline XBRL Style Guide , and others
       c) Custom, user-defined checks
  • XWand Viewer
    - Validate XBRL filings against
       a) Latest XBRL specification
       b) Regulatory guidelines like the SEC's EDGAR Filer Manual and the HMRC Inline XBRL Style Guide
       c) Custom, user-defined checks
  • Formula Editor & Data Mapping Tool
    - Create and edit Formula 1.0 compliant formulas for multiple instance documents
    - Apply formulas to verify and analyze instances
    - Convert instances or create CSV files

Regulators can also leverage the complete XBRL-Enabled Process Platform to automate the validation and review of the received reports. A powerful software development kit (SDK) in Interstage XWand can be used to implement custom processing of the XBRL documents.

By utilizing Interstage XWand, regulatory agencies are guaranteed the best utilization and compliance with the XBRL specification. Coupled with the speed of implementation and Fujitsu's excellent training program, regulators are ensured a fast path to realizing the cost and time savings associated with adopting of XBRL while dramatically improving the efficiencies associated with processing of the XBRL based reports. This enables the regulators to focus on assessing and verifying accuracy and quality of data with greater speed and confidence.

Interstage XWand provides capabilities of XBRL editing, Excel to XBRL transformation, Word to XBRL transformation and web form API. With these four patterns, Interstage XWand supports all the major system construction patterns that regulators in the world adopt.

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