Invoke, a premier provider of cutting-edge XBRL technology and packaged reporting solutions, is pleased to have been a Silver Sponsor of the 26th XBRL International Conference in Dublin, Ireland from 16-18 April 2013 where the latest features of Invoke’s premier BI tool, XBRL Analyzer, were showcased
A fresh approach to XBRL-based Business Intelligence
In the form of a flexible, generic and taxonomy-driven solution that leverages the XBRL extension of the Oracle 11g XML database, XBRL Analyzer is the first application of its kind to release XBRL data from the technical arena and allow business end-users to regain control over their analysis needs. With XBRL Analyzer, the underlying technical sophistication of the XBRL standard is masked, and non-technical users can freely exploit and extract business-relevant information from mass volumes of highly-dimensional XBRL data that, without analysis, would be effectively devoid of value.
"Properly constructed taxonomies already house a robust data-model, which is why we focus on keeping our tools generic and taxonomy-driven. Using the intelligent semantic matrix of the Invoke native XBRL web spreadsheet, XBRL Analyzer eliminates the burden of developing and maintaining a relational data-model and hard-coding queries. Furthermore, leveraging a native XBRL storage system preserves 100% of the integrity of validated instance documents. Straightforward, ad-hoc configuration of the Invoke XBRL spreadsheet interface is all that is required for on-the-fly and real-time analysis of bulk quantities of XBRL data", says Benoît Colombel, Lead Project Engineer at Invoke.
Robust technology at the heart of a new reporting paradigm
Invoke industry-acclaimed native XBRL solutions are robust, flexible and user-oriented. Aligning analytical innovation with pragmatic business functionality, XBRL Analyzer highlights the myriad advantages of dealing with XBRL natively and generically for BI purposes, using web-based interfaces that are accessible on any client platform.
Harnessing the analytical power of XBRL to mine the value hidden in XBRL instance documents is now more relevant than ever, given the mass volumes of highly-dimensional financial, tax and regulatory data being collected around the world.
The banking and insurance industries in Europe are a case in point, as regulated firms operating in these sectors will soon be subject to common rule-books (CRD IV and Solvency II). Invoke XBRL solutions are poised to be positioned right at the very heart of this pan-European reporting paradigm.
"The Invoke native XBRL web spreadsheet is an unrivalled interface for allowing both technical and non-technical users to interact easily with XBRL data. We are seeing a real convergence between the technological innovation that characterizes Invoke tools, and the functional and technical requirements expressed by supervisory agencies and regulated entities in response to changing reporting obligations. Thanks to the foresight and vision which underpin the value proposition of the Invoke XBRL spreadsheet, our solutions are perfectly aligned with the emerging use-cases in the regulatory reporting environment", adds Antoine Bourdais, Head of the Insurance and Bank Division at Invoke
The precision demonstration of XBRL Analyzer at the XBRL26 conference showcased high-performance storage and analysis of large volumes of dimensional regulatory data in XBRL, using the example of the recently released FINREP 2012 taxonomy.
In challenging commonly accepted technological boundaries, Invoke proves that the value proposition of XBRL extends far beyond being just a standardized format for data transportation.
Leveraging the power inherent in the XBRL specification, XBRL Analyzer is a cutting-edge tool capable of satisfying the advanced analytical requirements of even the most exacting supervisory authorities and regulated firms, without requiring any hard-coding or specific maintenance.