Continuing to move and shake the world of XBRL are our friends at JustSystems (news, site), who after announcing their new XBRL Report a couple weeks ago are back again with a partnership to leverage data aggregation, content creation and publishing of financial reports using the business reporting language.
Reading Business Language
As Diane Mueller, vice president, XBRL development, JustSystems, explained at the release of the new reporting capability, the business language wasn’t designed for human readability. Not being able to understand it equals risk on every level of the information cycle—not a good equation if you ask us. The JustSystems xfy XBRL Reporting system attempts to rectify this problem by consuming XBRL data and then spitting it back out in a readable HTML or PDF document.
Behind door number two is Mark Logic, a company fueled by XBRL compliance requirements and the pressing need to eliminate errors and fraud. The team behind the name designed Mark Logic Server specifically as a platform for building content applications that are made to unlock the full value of information. The resulting applications help store, manage, search and dynamically deliver content.
So, in one hand we’ve got tools that search out the information we need, and in the other we have a system that takes information and makes in readable. You can probably tell where this is going.
The teams intend to provide easy and scalable access to XBRL content through a combination of their offerings.
The integration option will allow enterprise organizations to push financial XBRL content from Mark Logic Server to applications built on the JustSystems xfy platform at any stage of a business workflow. Additionally, using this functionality, organizations will reportedly be able to analyze and create detailed financial reports from XBRL content and add XBRL-aware document management functionality to their existing Mark Logic Server deployments.
“The pairing of the JustSystems xfy XBRL Report with Mark Logic Server provides organizations with the ability to build and deploy a next-generation, XBRL-based infrastructure and rapidly deploy XBRL-enhanced financial applications,” said Mueller,. “XBRL has the potential to greatly improve transparency and information access in ways never before imaginable, and JustSystems and Mark Logic share the common goal of driving XBRL adoption forward in the enterprise market. Current, accurate financial data is essential for companies that wish to maintain a positive reputation with their customers and for regulator agencies that need to audit and ensure the accuracy of that financial data.”
If you missed this year’s Mark Logic User Conference, don’t panic. You can find all of the inside information on the JustSystems blog where Mueller herself writes directly about the company’s developments.