The IRIS CARBON® Approach
IRIS CARBON® handled the FERC Q3 2021 XBRL submission for Southwest Power Pool in three phases. A successful partnership between our customer success team and the client’s financial team was the key to the approach’s success.
In Phase I, the SPP finance team was introduced to the IRIS CARBON® platform and its functionalities. This phase included setting the right processes and workflows for uploading data from Microsoft Word and Excel sheets and ensuring the data goes into the right FERC form templates. We also decided on the workflows for effective collaboration between our teams.
Phase II was designed to help the finance team get acquainted with the FERC XBRL mandate and its requirements. Our customized training sessions helped the team understand the underlying XBRL principles in each schedule and collaborate using IRIS CARBON®’s workflows as well as the embedded checks and validations to generate and submit an error-free form to the FERC.
Phase III was about Southwest Power Pool’s actual Q3 2021 filing. SPP received timely support from us for a smooth and hassle-free filing. SPP’s acquaintance with the platform, coupled with our 24/7 support ensured that the Q3 filing was error-free, on time, and a huge success.