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A real case of flipa taxonomy usage

A real case of flipa taxonomy usage. Andreas Henzl / Coface Central Europe Olaf Naumann / Atradius NV Stefan Bodewig / Atradius NV. Wednesday 17.05.2006, Track 5 (Data Vendors & Information disseminators), 14:30h - 15:30h CET. Content. About us Coface Central Europe Atradius NV

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A real case of flipa taxonomy usage

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  1. A real case of flipa taxonomy usage Andreas Henzl / Coface Central Europe Olaf Naumann / Atradius NV Stefan Bodewig / Atradius NV Wednesday 17.05.2006, Track 5 (Data Vendors & Information disseminators), 14:30h - 15:30h CET

  2. Content • About us • Coface Central Europe • Atradius NV • Technical Components of the Project • Overview • Process “Create Company” • Process “Record Credit Limit Application” • Process “Receive Monitoring Notification” • Technical components • XBRL • XBRL Flipa: Difficulties & Solutions • XBRL Benefits • XBRL Weaknesses • XBRL Summary • XBRL Status of Project

  3. About us • Coface Central Europe • Atradius NV

  4. The biggest single company database (ICON) in Central and Eastern Europe Information on 7.3 million companies in in Central and Eastern Europe. 1.6 million financial statements, 73 million financials 85,000 companies with insolvency information 30,000 debt collection cases added each year Unique company identifier across the region DB Central European Platform Coface Central Europe Coface Central Europe Information Debt Collection ICON DCON

  5. Online Customer Application Customers can place orders and DC cases online via icon.cofacecentraleurope.com B2B Customers / Partners DCONX Partners Coface • Reports can be delivered in • HTML • Text • XML • PDF • XBRL Eurogate partners Coface Central Europe CPL CCZ Coface Central EuropeServer Center Vienna HTTPS HTTP/HTTPS CHU • Online • Research • Order-fulfilment • DC casehandling CSK CSI CHR CRO XML Webservices CBG Creici/Creica protocolftp Eurogate interface new

  6. Atradius - former GERLING NCM - is a global leader in credit insurance and debt management. Backed by new shareholders we are able to face new opportunities. Now we are an independent, financially sound market player with the most comprehensive global network. • Professional competence with more than 75 years of experience and knowledge • World market position No 2 (market share 24%) • Rating of ‘A‘ from Standard & Poor‘s and ’A2’ by Moody‘s • Trade transactions worth 330 billion Euro covered annually • Access to information about 45 million companies world-wide • Annual income 1.3 billion Euro in 2005 • 3,400 employees work in 90 offices in more than 40 countries • Atradius Holding headquartered in Amsterdam, The Netherlands

  7. Technical Components of the Project • Overview • Process “Create Company” • Process “Record Credit Limit Application” • Process “Receive Monitoring Notification” • Technical components

  8. Atradius Customer Overview: Enter Internet Reception of Credit Limit Decision Record Credit Limit Application via Atradius Serv@Net Record Credit Limit Decision based on structured data from Info Report Atradius Backend Request Information Report at CCE (if no data are available in Atradius database) Send back Information Report CCE Backend

  9. Process „Create Company“ Company not known in Atradius database Copy Company Atradius database Copy of full CCE company database Index file - Name - Address - Status - CCE number - ... - ... Companies - Name - Address - Status - CCE number - ... - ... CCE system daily updates via ftp

  10. Process „Record Credit Limit Application“ Record Credit Limit Application in Atradius database Automatic decision possible? yes no Info fresh and complete? Store structured data in Atradius database yes no Request Information Report Receive Information Report (immediately or later) Manual decision Automatic decision

  11. Process „Receive Monitoring Notice“ Receive Monitoring Notification Store structured data in Atradius database Important reason for notification?? yes no no further action alert users

  12. Technical components: Web Application Inhouse Application (Symphony) ORACLE Core database Display of report Websphere Server UB Portal Web services CCE Systems

  13. XBRL • XBRL Difficulties & Solutions • XBRL Benefits • XBRL Weaknesses • XBRL Summary • XBRL Status of Project

  14. XBRL Flipa: Difficulties & Solutions (1) Difficulty: • No standardised transport protocol for purchasing and selling credit reports Why? • Save costs and time • by a standardised fully automatic search and ordering process • Information Providers have to implement this protocol only once for all customers • Information Receivers have to implement this protocol only once for all information providers • Developing new connections is always complicated and expensive especially when it comes to testing • Integrate the retrieved credit reports or structured information directly into your own applications or database Solution: • Definition of ICON Web Services which do provide B2B services for purchasing and selling business credit reports http://icon.cofacecentraleurope.com/Default.asp?action=110

  15. XBRL Flipa: Difficulties & Solutions (2) Difficulty: • Cardinality within the entity tuple Why? • Companies have multiple • Addresses (Principal Address, Registration Address) • NACE codes • IDs (internat. ID, national ID, statistic nr, registration nr, VAT)

  16. <element id="flipa_Entity" name="Entity" substitutionGroup="xbrli:tuple" nillable="true"> <complexType> <complexContent> <restriction base="anyType"> <sequence> <element ref="flipa:Identifier" minOccurs="0" maxOccurs="1" /> <element ref="flipa:NameDetails" minOccurs="0" maxOccurs="unbounded" /> <element ref="flipa:Address" minOccurs="0" maxOccurs="1" /> <element ref="flipa:Communication" minOccurs="0" maxOccurs="1" /> <element ref="flipa:IncorporationStartDate" minOccurs="0" maxOccurs="1" /> <element ref="flipa:ListingInformation" minOccurs="0" maxOccurs="1" /> <element ref="flipa:Activity" minOccurs="0" maxOccurs="1" /> <element ref="flipa:LegalForm" minOccurs="0" maxOccurs="1" /> <element ref="flipa:Employees" minOccurs="0" maxOccurs="1" /> <element ref="flipa:Manager" minOccurs="0" maxOccurs="1" /> <element ref="flipa:RelatedEntity" minOccurs="0" maxOccurs="1" /> <element ref="flipa:TradingCountry" minOccurs="0" maxOccurs="1" /> <element ref="flipa:TrendAnalysis" minOccurs="0" maxOccurs="1" /> <element ref="flipa:PaymentRecord" minOccurs="0" maxOccurs="1" /> <element ref="flipa:RealEstate" minOccurs="0" maxOccurs="1" /> <element ref="flipa:FinancialInstitution" minOccurs="0" maxOccurs="1" /> <element ref="flipa:RiskAssessment" minOccurs="0" maxOccurs="1" /> <element ref="flipa:NegativeEvents" minOccurs="0" maxOccurs="1" /> <element ref="flipa:FinancialStatementPresentation" minOccurs="0" maxOccurs="1" /> <element ref="flipa:IndustryAveragePresentation" minOccurs="0" maxOccurs="1" />

  17. XBRL Flipa: Difficulties & Solutions (2) Difficulty: • Cardinality within the entity tuple Why? • Companies have multiple • Addresses (Principal Address, Registration Address) • NACE codes • IDs (internat. ID, national ID, statistic nr, registration nr, VAT) Solution: • Change the cardinality within the entity tuple to unbounded

  18. XBRL Flipa: Difficulties & Solutions (3) Difficulty: • Limited set of Financials in FLIPA Why? • Only a limited set of IFRS financials is available in FLIPA • CCE covers 8 countries and offers an international balance sheet based on IFRS with 160 positions • Only 50 positions can be mapped into FLIPA • Only P&L according to the method “by nature” is included in FLIPA, “P&L “by function” can not be delivered • Restricts our financials so much that even key positions (e.g. Cost of Sales) can not be delivered

  19. XBRL Flipa: Difficulties & Solutions (3) Difficulty: • Limited set of Financials Why? • Only a limited set of IFRS financials is available in FLIPA • CCE covers 8 countries and offers an international balance sheet based on IFRS with 160 positions • Only 50 positions can be mapped into FLIPA • Only P&L according to the method “by nature” is included in FLIPA, “P&L “by function” can not be delivered • Restricts our financials so much that even key positions (e.g. Cost of Sales) can not be delivered Solution: • Include the whole set of IFRS as defined in XBRL in FLIPA

  20. XBRL Flipa: Difficulties & Solutions (4) Difficulty: • Missing Value Elements Why? • We have found several important elements missing • Legal Form: Joint stock company • Identifiers: Statistical number • Linked Companies: Customers and Suppliers • …

  21. XBRL Flipa: Difficulties & Solutions (4) Difficulty: • Missing Value Elements Why? • We have found several important elements missing • Legal Form: Joint stock company • Identifiers: Statistical number • Linked Companies: Customers and Suppliers • … Solution: • We have extended the missing value elements

  22. XBRL Flipa: Difficulties & Solutions (5) Difficulty: • Extensibility of XBRL Why? • It is easily possible to extend XBRL with new tuples • Extensions of existing tuples is not possible • This is needed to add missing things like • Priority of NACE codes • Size of real estate • Free text comments to certain elements • …

  23. XBRL Flipa: Difficulties & Solutions (5) Difficulty: • Extensibility of XBRL Why? • It is easily possible to extend XBRL with new tuples • <Entity> • <A> • <B> <B/> • </A> • <C>Foo</C> • </Entity> • <Extension> • ... • </ Extension >

  24. XBRL Flipa: Difficulties & Solutions (5) Difficulty: • Extensibility of XBRL Why? • Extensions of existing tuples is not possible1. The content copy method: <NewEntity> <NewA> (other info within A) <NewB> (other info within B) <extension>...</extension> </NewB> </NewA> <C>Foo</C> </NewEntity>

  25. XBRL Flipa: Difficulties & Solutions (5) Difficulty: • Extensibility of XBRL Why? • Extensions of existing tuples is not possible2. The nested tuple method: <NewEntity> <Entity> <C>Foo</C> </Entity> <NewA> <A>(other info within A)</A> <NewB> <B>(other info within B)</B> <extension>...</extension> </NewB> </NewA> </NewEntity>

  26. XBRL Flipa: Difficulties & Solutions (5) Difficulty: • Extensibility of XBRL Why? • Extensions of existing tuples is not possible • <NewEntity> • <Entity> • <A> • <B>(some B info)</B> • </A> • <C>Foo</C> • </Entity> • <NewA> • <A> • <B>(some B info too)</B> • </A> • <NewB> • <B>(other info within B)</B> • <Comment>...</Comment> • </NewB> • </NewA> • </NewEntity>

  27. XBRL Flipa: Difficulties & Solutions (5) Difficulty: • Extensibility of XBRL Why? • It is easily possible to extend XBRL with new tuples • Extensions of existing tuples is not possible • This is needed to add missing things like • Priority of NACE codes • Size of real estate • Free text comments to certain elements • … Solution: • The extensions needed have been added to a new “FLIPA core taxonomy”

  28. XBRL Benefits • Availability of structured data (e.g. financial data) • leads to an automatic risk assessment within Atradius database • Usage of a standardised format • no vendor dependency • reduced IT effort for the second- and following connections • Financial data based on proven IFRS Standard (in our extended version) • Generic layout for Information Reports • unified reports across all data sources

  29. XBRL Weaknesses • Standard for transmission protocol not yet existing • Complex technical implementation (compared to regular XML) • Limitations of expandability • Presented difficulties are not specific to the connection CCE <-> Atradiusbut would appear for any flipa connection

  30. XBRL Summary • Coface Central Europe has now managed to include all credit report data delivered in HTML, XML or PDF also into CCE’s XBRL reports • It was necessary to create a new version of the Flipa core taxonomy which helps to overcome the difficulties described • Atradius and CCE suggest making this new Flipa taxonomy to the new Flipa core taxonomy (it is an replacement rather than an extension) • CCE offers to make the ICON Webservices to an Open Standard for the community

  31. XBRL Status of Project • New extended flipa taxonomy - ready • Order/Receive communication via Webservices - ready • Extraction of structured information - proof of concept, done • Generic viewer - proof of concept, done • Release in August 2006

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