.: A day in your life :. Semansys Technologies














	Huge processing effort Error prone process Long reporting cycle Various seperate processes IT involvement necessary Yearly auditing Black box reporting Diminished credibility of industry


	Split second processing Absolute reporting quality Reporting cycle in minutes Daily auditing Adds to reliability of industry

A day in your life

Without Semansys XBRL

At ACME Power Corp, John, the CFO, is studying the progress of the quarterly reporting process. Judging by the long list of files in various formats on the shared disk and the pile on Judy’s desk, most of the 76 subsidiaries in 26 countries have submitted their reports by now. Six people in his team have been spending the last 2 weeks reading the spreadsheets, ERP reports, faxes and what have you, interpreting it and entering the data in the consolidation system. As is seems, he would have been able to present to the board the 3 month old data within five weeks from now. Would have… This morning, the board kindly asked John to change the accounting rules for the value of new contracts and to add data on credit risk. It seems like he is facing another avalanche of new documents as well as complaints from the subsidiaries, which have enough trouble keeping track of local regulations. Not to mention the struggle he will have with the

data warehousing people from IT who will need to build a new cube for him, whatever that is. They will strike back by issuing another request for even more IT spending.

While John contemplates his options, his attention is drawn by an urgent e-mail. The regulator announces that in the light of recent developments in the industry, they will require

quarterly reporting within a month of close. That’s another 50% reduction in delivery time! While his migraine develops at a record breaking pace, he can’t suppress thinking that he is forced to make up for the time lost at the regulator, who is still employing 60 people just for manually translating and entering reporting data. And yet they have huge difficulties aligning and analyzing the data from the various companies in their industry. Do they really have a grip on things? Well, let’s just worry about the problems at hand. First is to prepare for a discussion later today with the ERP vendor about introducing an enterprise wide ERP system and continuous auditing in 2010.

With Semansys XBRL

At ACME Power Corp, John, the CFO, is studying this morning’s corporate report. Based on the XBRL documents automatically published last night by the 76 subsidiaries, he sees today’s balance sheet on his screen. While he has ample time to prepare for the board meeting next week, he considers changing the accounting rules for the value of new contracts and to present and discuss the figures on credit risk. This way the company can stay well ahead of the hot issues in this industry. Five mouse clicks later, John has changed the companies accounting practices and analyzed the effects of bad credits on cash flow. By posting a new accounting practice definition (taxonomy) on the intranet, John assures that all subsidiaries will, from now on, automatically apply the new corporate rules.

It feels good to know that the subsidiaries don’t need to do anything to adhere to local standards and regulations.

But that’s for next weeks reporting. Now John’s concern is to satisfy the needs of the regulator and external stakeholders.

Since they started using XBRL by Semansys this has become Judy’s job. Applying the public taxonomy and publishing the document takes less than a minute. However, every now and then he feels he needs to do some manual adjustments to the reports generated automatically. With Semansys this is done in a jiffy. Another simple reason for him not to embark on a multi million dollar corporate ERP enterprise.

Since John works for a leader in his industry, he is well aware of his responsibilities towards shareholders, employees and the community. He feels good about knowing that the regulator uses XBRL and removed the risks of misinterpretations. The regulator now guarantees alignment of reporting throughout the industry and consistency in reporting to shareholders. They show more confidence while employing less people. This is important to him; he likes to work in a stable industry with confident investors.