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The XBRL 2.1 compliant release of Semansys Taxonomy Builder
is now available.This taxonomy builder is an edition of Semansys
XBRL Composer, winner of the software shoot out, a contest
for the best product for authoring reports and taxonomies.
The product enables professionals to create reporting definitions
according to XBRL 2.1, the newly released specification of
the global standard for Digital Reporting. Semansys Taxonomy
Builder can be used to convert existing taxonomies to XBRL
2.1. The improved user interface provides a considerable increase
in productivity in apparent contrast to the vastly increased
complexity of the standard.
The drive behind Semansys’ product development is to
allow XBRL based digital reporting to realize considerable
efficiency and quality gains in internal and external reporting
processes. These processes are managed by financial professionals
rather than technical specialists. Semansys products therefore
hide the inherent conceptual and technical complexity and
provide functionality to a wide range of users. Semansys Taxonomy
Builder is tuned to the needs of specialists in taxonomy developments
as well as for incidental and even casual users.
The software products’ user interface is designed to
guide the user through the process of browsing, defining or
supplementing a taxonomy. Element creation, far more complex
than in XBRL 2.0, is now supported through various process
oriented functions (wizards). Added are various possibilities
to visualize the taxonomy structure for further improved insight
in the reporting definition. A very powerful feature is the
possibility to load XBRL 2.0 taxonomies and convert them into
XBRL 2.1. Through this function the accounting knowledge embedded
in existing taxonomies is retained, quality is assured and
time and effort is saved.
As all components of Semansys XBRL Composer, Semansys Taxonomy
Builder is a very powerful standard application which value
can be further increased through customization and automation.
The significance of this has been demonstrated in various
projects for internal corporate reporting and in the first
closed loop implementation of digital reporting for the Dutch
Water Boards, as performed by Semansys and partners. As a
unique feature, the product has facilities for automatic creation
of taxonomies based on existing data structures. The dynamic
nature of real life internal and external digital reporting
can be fully supported, automated and streamlined. The release
of this next-generation digital reporting application, reinforces
the leading position of Semansys Taxonomy Builder as the first
industry strength application for digital reporting based
on XBRL.
Semansys Taxonomy Builder 3.1, the XBRL 2.1 compliant release,
is available for purchase. The upgrade is free of charge for
current users of Semansys Taxonomy Builder under maintenance.
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