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The Techonlogy Adoption Cycle

The Techonlogy Adoption Cycle. For XBRL. Neal Hannon, XBRL Education co-chair, Bryant College. The Dream. Without a dream, progress is not possible Business Reporting in XML Tag once, render many Reduced time, cost and increased accuracy. The Technology. US GAAP 1.0 Specification

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The Techonlogy Adoption Cycle

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  1. The Techonlogy Adoption Cycle For XBRL Neal Hannon, XBRL Education co-chair, Bryant College

  2. The Dream • Without a dream, progress is not possible • Business Reporting in XML • Tag once, render many • Reduced time, cost and increased accuracy

  3. The Technology • US GAAP 1.0 Specification • Works now • Navision • XBRLSolutions • Many taxonomies under development • 13 including IAS

  4. The Simplification • Save as XBRL • Archives of XBRL Reports • XBRL Lite – 300 tags for each industry • Automated tools for customization

  5. The Acceptance Happens When: • Banks require XBRL • Governmental agents accept XBRL • Financial Analysts request XBRL • Internal users find XBRL facilitates consolidations

  6. Change in the supply chain is powerful The efficiencies driven from / in supply chains are significant. Not all will survive. The EDI model The e-business model Channel has a common model Each has an EDI model that is costly.

  7. e-business “Horizontals” (Infrastructure) there are others….. HR CRM AM The Range of what is under development today………... CHEMX ACORD FpML ANX RosettaNet “Verticals” (Industry Supply Chains) there are others…….

  8. e-business What is XML? • Published as a recommendation by the W3C (World Wide Web Consortium) in early 1998. • Uses tags to give context and structure to the content • Provides a common way for disparate systems to exchange specific information (application integration) • Provides a means to separate data from style (so a single source can be output for multiple uses) • Separates data from logic of applications (so that it can be reused for multiple purposes).

  9. e-business So when will this happen?? • After I retire. • Before I retire but too late for me to have to worry about it. • Sooner than I want to admit, but I still have enough time to procrastinate. • Next five years. • Next two to three years. • Never.

  10. App to fin rep CFO Magazine on Investor Relations "The explosive growth of the internet is not only changing the way companies conduct their business, it also promises to forever alter the way they communicate business performance. … Information availability may soon determine which companies benefit from market insight and which are hurt by market ignorance.” - CFO magazine, February 2000.

  11. XBRL - Why Another Quiz? What word goes in the space? “_____?____ is the language of business” “_____?____is the language of e-business” Accounting XML

  12. App to fin rep The Internet Enablement of Reporting XBRL = eXtensible Business Reporting Language A new economy language for business information, reporting and analysis.

  13. XBRL - What XBRL Working Model: Planned Specifications Today XBRL for Financial Statements XBRL for G/L Journal Entry XBRL for Reporting Regulatory Filings Internal External Investment Business Processes Processes Financial Financial and Lending Operations Reporting Reporting Analysis XBRL for Business XBRL for Audit XBRL for Event Reporting Schedules Credit Filings Financial Publishers Companies Investors Participants Participants and Data Aggregators Trading Management Auditors Regulators Partners Accountants Software Vendors

  14. What software ‘sees’ is the differentiator and drives benefits (here is an example) ..\..\..\Program Files\XBRL Demo\XBRLDemo.xls

  15. XBRL - Why So What??…. ‘show me the money’ • Reduces cost to publish information • Significantly reduces cost to use the information • Increases the speed of use and related decisions • New concepts of using existing financial information…. • Virtual documents • Comparison of all components, including disclosures • Linkage to ‘related’ topics

  16. XBRL - Why What might this enable? • User reporting/analysis on a personalized basis. • Agents monitoring key indicators. • What is your temperature and blood pressure right now? • More relevant reporting in the dawning of the ASP/outsourcing environment. • How many routers did Cisco manufacture last year? • Virtual closings. • Enhanced insights and transparency. • Quicker, Cheaper and faster decisions.

  17. The Growing XBRL Family

  18. The XBRL Educational Resource Center At Bryant College

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