The IBM Cognos XBRL Solution enables data, accounts and legal entities from IBM Cognos 8 Controller to be connected directly to a solution that delivers XBRL output and reports. It eliminates manual steps and processes with automation and can incorporate other data sources, additional reports and supporting commentary into its XBRL output. Its components include:

• Predefined direct connections to IBM Cognos 8 Controller
• Sample reports for key financial statements
• Customizable data access, account mapping and report layouts

The Solution provides direct data integration between IBM Cognos 8 Controller and Semansys XBRL Reporter, an XBRL solution. It includes design examples and templates for mapping the charts of IBM Cognos 8 Controller accounts to any XBRL taxonomy.

After the connection is made, a user can:

• Map the account, legal entity and structures to an XBRL taxonomy.
• Lay out a financial statement with the XBRL reporting solution.
• Create XBRL output that publishes the information based on the report definitions.

After the solution is set up the first time, you can easily run a report each time XBRL output is required—without starting over.

IBM Cognos XBRL Solution in action

IBM Cognos 8 Controller and the XBRL reporting solution connect at a database level, which is more secure than at the report level. The direct connection to Semansys XBRL Reporter reduces the number of manual steps and any risks to your data.

The Solution takes all the guesswork and complexity of creating XBRL reports from different sources and streamlines it into a very simple process. You start by selecting Semansys XBRL Reporter from a menu, which opens a window that shows the reports. Choose the report you want to run and provide details (such as period and year if you are running a Profit and Loss report). After indicating that you want the solution to import information, it will display that information. You then click a button to get your report, which you can also have presented in different formats.

You can also ask for an audit log, which can tell you what accounts have not been mapped to the taxonomy. Anything in red is an alert to an item that still must be mapped.

Continuing the drive toward performance management

The IBM Cognos XBRL Performance Solution supports the drive to excellence in performance management. “Consolidation driven performance management” is the pathway that leads organizations from the first steps of automation, securing and controlling data and process, through process transformation and building in best practices in the close, consolidate, report process.

Advantages of a partner solution

The XBRL movement has been under way for a number of years, and has evolved from its early days to a robust language, mandated by governments and security exchange commissions. Semansys has been there since day one to offer both a unique insight into the business use and technical leverage that XBRL can provide.

The partner-based solution from Semansys has been selected for three compelling advantages:

• Best in class XBRL reporting software.
  • Semansys is dedicated to providing the most robust finance managed solution in the market place. Using Semansys Reporter, customers can easily work with local taxonomies, establish links not just to IBM Cognos Controller data, but also to the third-party data and commentary necessary for financial reporting. Additional Semansys solutions provide taxonomy customization, analytics and other XBRL extensions.
• Evolving with changing standards.
  • XBRL continues to evolve and grow, requiring both process and technical changes to take advantage of new and critical extensions to the core language. Semansys is directly connected to the XBRL community and committed to incorporating all the elements into one solution.
• Working with experts.
  • The Semansys team and partners are engaged in all levels of conversation relating to XBRL. This is because XBRL is their only business and they are ready to meet the requirements of all customers.

Summary

More and more, regulatory bodies are requiring the electronic filing of financial statements using XBRL, a global standard for the exchange of digital data. For example, the SEC has mandated that large organizations file quarterly and annual XBRL reports by 2010. Other regulatory agencies are following suit.

The IBM Cognos XBRL Solution enables IBM Cognos 8 Controller customers to import data directly into Semansys XBRL Reporter for publishing. It provides:

• Direct connection to IBM Cognos 8 Controller data and metadata (accounts, time, entities, dimensions
• A rich, finance owned, desktop solution for XBRL tagging and reports
• Extensibility for additional XBRL requirements

The Solution extends IBM Cognos 8 Controller with rich, fully enabled XBRL capabilities supported and enhanced by experts in the XBRL community.

About Semansys

Semansys is a leading vendor of solutions for financial reporting and monitoring based on semantics and XBRL. The company offers uniquely comprehensive solutions that increases speed, quality and transparency in the exchange and use of information throughout “the financial supply chain.”

Semansys can be seen as the backbone of XBRL delivery systems around the world. Semansys is closely involved in the development and global adoption of XBRL and realized the world’s first implementations.

Semansys solutions help reduce risks and administrative burden and are easy to use and efficient. As an XBRL technology provider to the software world, On top of the core XBRL technology, Semansys is particularly strong in creating user friendly solutions that hide the complexity of the XBRL standard from the end user.

As specialist technology company, Semansys focuses on developing software solutions that support the XBRL standard for business reporting. Based on major investments it delivers sophisticated and professional XBRL platforms and core technologies.

The solutions are developed for use on the desktop, as server based or web services (hosted) solutions well designed to fit in a Services Oriented Architecture. Based on our major investment in XBRL platforms, Semansys is the only software company in the world to cover the complete financial supply chain.

Semansys supports organisations that define the information requirements (like government and local authorities, supervisors, banks, corporate headquarters) with solutions for taxonomy building and management, software vendors with OEM components and SaaS (Software as a Service), regulators and consumers with validation and processing solutions and large companies with XBRL enterprise management systems.