Enterprises

If you are ready, or considering migration of your legacy financial reporting process to the XBRL-based reporting chain, the NeoClarus suite of applications will make the migration easy and seamless, with maximum return on investment. The NeoClarus suite of application software is for extraction, creation, management, validation, interaction, and reporting of XBRL-based financial information. It makes your financial reporting to regulatory bodies more efficient and enhances investor relations. It automates the end-to-end financial reporting chain, extracting financial data from any source (Oracle, SAP, Excel, etc), mapping and tagging the data with XBRL taxonomies, validating, and generating XBRL reports for filing. This process is made easy through a guided and collaborative web interface that can be accessed on-demand using software as a service model. It provides a fully secure environment to various stakeholders (internal/external auditors, financial controllers, and financial printers) to collaborate in the financial reporting chain during the process.

NeoClarus iFile Suite

The NeoClarus iFile software suite consists of the following components, specifically designed for enterprise customers

* iFile - collaborative XBRL tagging and financial report creation

* iTransform - data extraction/collection from any source staging for XBRL tagging

* iAudit - XBRL tag and data audit and validation

The process for XBRL document creation is so simple: link your accounts just once; then select any taxonomy (XBRL/SEC published library), and follow simple steps to tag and generate the report.

The process can be broken down into simple steps:

1. Create a report Project in iFile

2. Extract data using iTransform:
iTransform collects and transforms corporate data source into financial data for creating XBRL financial statements. Our product is built specifically to create reusable XBRL-ready target maps to automate ongoing data collection and expedite XBRL financial statement creation. iTransform has in-built adapters for major ERP packages like Oracle, SAP.
"Tag" your data at its source. The wizard-like interface makes it easy to "map" your company's financial accounts to standardized XBRL "tags." The tagging engine tags the accounts based on the latest XBRL taxonomies for your industry. Once the accounts are tagged, the engine recognizes the data and generates required XBRL report (ie.,10Q, 10K etc.).

3. Automatic data validation flags unbalanced accounts, helping you resolve data mapping errors before the running reports are seen by investors, analysts, or government agencies.
iAudit validates XBRL tags and data for auditors who need to review XBRL-based financial reports for accuracy. iAudit is a differentiated functionality to enterprise customers, which addresses compliance requirements by providing secure online collaboration between internal/external auditors, Corporate Preparers (CFOs and Controllers), and Financial Printers through iFile on-demand

4. Publish error-free reports on time with iFile
Whenever you need a report use the iFile wizard and proceed with the few simple steps to produce more accurate, interactive filings in significantly less time and cost.