The true value of 24x7 support

As experienced iXBRL solution providers, the one thing we’ve realized is that no matter how much we plan, misfortunes can still happen. 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 facing the ESEF- ESMA iXBRL mandate, 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.

24x7 support

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, even if everyone reports to one regulatory authority, in this case, ESMA. Different filers have different needs and they go beyond the extent of the filers 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:

Transparency in data reporting

Global availability

No matter which part of the world you’re based out of, you can get in touch with us through the platform, or 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.

Transparency in data reporting

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.

24x7 support

Support to the very Last-minute

The biggest advantage of a 24×7 support team is their availability no matter when you need, 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.

24x7 support

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, 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. 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 with ESMA, 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.

The true value of 24×7 support

The true value of 24×7 support

The true value of 24×7 support