As experienced iXBRL solution providers, the one thing we’ve realized is that even the best-laid plans can go awry. This is not something that we’ve seen only issuers face, even financial printers and compliance authorities run into unexpected problems. Here’s an incident that exemplifies what we mean. A financial printer reached out to us last year with a one-off requirement to help with their client’s iXBRL report. While they had a regular solution provider in place, they perhaps reached out to us on account of an unexpected emergency they faced. We realized as much and helped them with their requirements. That ended our temporary project, or so we thought since they already had a process and an existing solution provider in place.
Of course, this was before COVID-19 struck the world. As the pandemic progressed and businesses began to go under lockdown, the same financial printer now found themself struggling with a large number of their client documents on which they needed assistance. Submission dates were looming, and because of the disruption caused by the lockdown, the financial printer’s main service provider was in a lurch. The possibility of a missed deadline had become very real.
They reached back to us again and asked if we could chip in and help. We immediately swung into action, and assembled a special support team for this financial printer (because of the time crunch), collaborated with their teams, and made rapid adjustments to our own processes to meet our existing commitments and the financial printers as well. Our main focus was to ensure successful report submissions for our clients as well as for the financial printers, and that’s exactly what our team did.
We don’t mean to brag, though we are extremely proud of our support team and how they came through in those difficult times. This was not about acquiring a new client, it was a bailout to save a business from harsh consequences that would not be their fault. The point is, whether you’re a seasoned iXBRL filer or a first-timer, the value of a reliable support team cannot be emphasized enough, COVID-19 or otherwise. Planning your iXBRL process and running the show is certainly the goal. But to be able to do so, you will need to know that your iXBRL solution provider has your back.
24×7 – The support you need
The IRIS CARBON® factor
We’ve learned that there is no one size fits all when it comes to providing an iXBRL solution, or any compliance solution. Different filers have different needs and they go beyond the extent of the filer’s requirements or the enormity of the filer’s document. Indeed, our iXBRL platform IRIS CARBON® can handle the load of any iXBRL report, but how the user wants to optimize our platform varies from client to client. Our 24×7 support team is especially relevant for clients who choose to prepare their own iXBRL reports. They function according to your working hours and familiarize themselves with your process.
Here’s a look at what our support team provides:
Global availability
No matter which part of the world you’re based in, you can get in touch with us through the platform, email, or a call. Since our support team works as your iXBRL team, they are always available and prepared for just about any situation that you might face.
iXBRL expertise
Whether it’s a taxonomy update or a transition from XBRL to iXBRL, this standard for business reporting is still evolving. Our support team stays updated and is equipped to address any new developments to help you out when you’re in a spot.
Support to the very Last-minute
The biggest advantage of a 24×7 support team is their availability no matter when you need it, especially for last-minute changes and edits. And because IRIS CARBON® is on the cloud, and a collaborative tool, it makes this support extremely easy for clients to access anytime.
On-time delivery
Our team’s decade-long experience has made them seasoned with meeting deadlines. They are proactive in their approach and ensure that issues are addressed meticulously and on time.
There is certainly a learning curve involved when it comes to technical standards like XBRL. It’s understandable if one is not there yet when it comes to tagging and validating iXBRL reports. Just remember that this process is supposed to be a marathon, not a sprint. You will get there with time. We’ve seen our client’s tremendous efforts and even been part of their iXBRL journeys, providing support to the best of our abilities, whenever they have needed it. So at the end of the day, no one understands better than us just how great a victory it is to have successful iXBRL submissions, especially when you do it on your own, even with 24×7 support.
We hope to be able to support you with your XBRL/iXBRL and other compliance filings, in any way you want. So if you’re looking for an efficient and sustainable solution to streamline the last mile of your reporting process or an iXBRL solution that will ease your compliance process, we’re here to help.
