SEC XBRL – structured financial reporting

For those not following what is going on in the financial world, there is a huge shift in the reporting requirements for public companies happening right now.  The SEC is starting to require that financial data be submitted using a version of XML specifically designed to encapsulate all of the financial data normally required in text form.  The implications are huge, as this means that researchers can search and sort by more “buried” information than they could before without having to do a lot of hand-work to get the data in machine readable format.    This provides the opportunity for such research to be performed by a much wider group than before

For business opportunities, there are a myriad of possibilities – to name the obvious:

1)  translation and data entry software for companies to simplify their reporting process – both software packages and SAAS.

2) search systems for researchers

3) special report generation and dissemination

4) predictive modeling and valuation assessment

this is such a huge problem that hundreds of companies will have to be oriented towards implementation and management for all of the public companies.

For more information contact steven <dot> warwick <at> innovationscommercialization <dot> com