Transcript presentation

FUJITSU Interstage XWand
Solvency II Reporting in XBRL - Are you ready for changes?
FQS Poland - Center of Excellence of Interstage XWand for EMEA region
Agenda
 Fujitsu at Glance
 XBRL introduction
 Solvency II reporting vs Interstage XWand Suite
 Desktop tools,
 Development engine
 XBRL components
 Summary
 Value added
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Copyright 2014, FUJITSU LIMITED
Fujitsu at a Glance
 Headquarters: Tokyo, Japan
 Established: June 1935
 Consolidated revenue: US$47 billion
 Employees: Over 170,000 worldwide
 Sales and support operations in over 100 countries
 Fujitsu Limited shares are listed on: the Tokyo Stock
Exchange, as well as the Osaka, Nagoya and London
exchanges
 Leading Japanese information and communication
technology (ICT) company offering a full range of
technology products, solutions and services.
 We use our experience and the power of ICT to shape the
future of society with our customers.
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Fujitsu’s XBRL Expertise
 Leadership in XBRL Consortium
 Europe, Spain, Finland, Poland, US, Australia and Japan
 Chaired XBRL 2.1 Specification Working Group in 2003
 At-large member - Intl Consortium
 Member of Best Practice Board
 Participation in European Filing Rules WG and XBRL European Business Register (xEBR)
 Leading XBRL Specification Efforts
 Specification – XBRL 2.1/2.0
 Best practices – FRTA, FRIS
 Conformance Suite
 Dimensions, LRR
 Latest activities – Formula, Versioning, Rendering
 Leading XBRL tools provider
 200+ downloads / month
 Extensive experience with designing and implementing XBRL based solutions (US SEC,
SBR Australia FSA Japan, Tokyo Stock Exchange)
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Fujitsu’s Center of Excelence
for Interstage XWand
Sales
Support
Consulting
R&D
Software
Product
Development
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XBRL
 Basic concepts and trends
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First a Quick (and Loose) Definition
 XBRL is a standardised way of creating and using
business reports in XML. It allows regulators to
specify the financial facts they require through the
use of taxonomies (sets of data definitions/rules).
This ensures consistency across all of the
submitted documents (instance documents) and
aids the internal processing of the information
contained in those documents.
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XBRL Terminology
 Taxonomy - A set of rules which describes the information which is
required to be in the report
 Includes financial elements (fixed assets, cash on hand...)
 Describes relationships between the financial elements
 Can be based on existing taxonomy, e.g. Solvency II,
COREP/FINREP, IFRS, GAAP, etc.
 Usually defines validation rules
 Can provide visualization template for report
 Instance Document - A document created by combining actual financial
data with the taxonomy
 Pilar III Report (insurance), Call Report (to stock exchange),
Balance Sheet, Financial Liquidity Report (banking), Contains
actual financial data
 Can provide custom visualization of report (Inline XBRL)
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XBRL adoption throughout the world
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XBRL adoption and application increasing worldwide
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Steady adoption by regulators and public institutions, followed by corporations and investors
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Key XBRL projects and Drivers in UE
 EBA
The European Banking Authority recommend the use of XBRL as it will lead to greater harmonization of IT formats with
the adoption of XBRL COREP/FINREP taxonomies . The first quarterly reporting period is Q1 2014
 EIOPA
The European Insurance and Occupational Pensions Authority (EIOPA) is currently developing harmonized Solvency II
Quantitative Reporting Templates.
Roadmap and guidelines for the preparatory phase
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Key XBRL Taxonomies
 COREP/FINREP taxonomy for banking sector
 Solvency II taxonomy for insurance and pension funds
 IFRS taxonomy
 US GAAP taxonomy - financial reporting taxonomy
 GRI taxonomy for non financial reporting
 Global Ledger taxonomy
 xEBR taxonomy (draft exist)
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European legislation
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Reduce the Report Burden
Filers
Regulators
Conventional
Corrections Requested
Verification
Repeated many times
Correction
Submission
Interstage XWand
Filers
Regulators
Verification
rules
Verification
Interstage
XBRL Platform
Common Rules
Submission
completed in one
step
Submission
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Verification
rules
Batch
Verification
Interstage
XBRL Platform
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XBRL Mandatory Reporting
Filer/Submitter
Solvency II
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Solvency II Reporting in XBRL vs
XWand – Products Portfolio
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Standard Workflow
Regulator
4. review
Business
Template Sheet
5. excel form
generation
DPM Sheet
2. HC/TL/FL
generation
1.taxonomy
generation
Server side check
check data
create instance...
3. open
valid data
Taxonomy
Formula Table
Linkbase Linkbase
XBRL
Instance
Excel Form
6. deliver
value assertion
9. submit
XBRL
Instance
8. open
Sheet IC
7. input excel form
Filer/Submitter
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XBRL Solutions Portfolio
 XWand Suite
 Integration Components
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The Proven Competence
Adopted by more than 100 customers in over 41 countries
Software
Vendors
Ministry
SBR
Stock
Projects Exchanges
Tax Offices
Company Registers
Bureau of Statistics
Filers/Submitters
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National Banks
Financial
Supervisory
Authorities
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Interstage XWand
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XBRL Solutions – Portfolio
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Tools for development of Taxonomies
Tools for operations on Instances
Analytical tools for Instances
Data mapping tools
Software Development Kit – XBRL API
Integration components
 Components for automation of common operations withing
existing environments
 Components for building web pages with integrated XBRL
viewer/editor
 Total solutions
 Submission portals
 Raportado – Large scale enterprise Business Reporting Solution
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Additional Integration Components
 Integration with 3rd party solutions
 Web services
 Command-line tools
 Development libraries
 MS SharePoint components
 MS SQL Server data providers
 Customization and System Integration
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Sample Submission Platform
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XWand Summary
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Advantages Over Competitors
 High performance validation engine
 Optimize for large instance documents and complex
formulas
 Proper benchmarking using production taxonomies and
validation rules (no tests data generation)
 Early delivery to support comming changes of
XBRL specification
 Beta releases available for long-term customers
 Network of local Centers of Excellence and
support engineers
 Fujitsu has supporting offices and consultants in every
EU country
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Why partnering with Fujitsu
 FUJITSU Advantages
 The XBRL leading vendor
 Proven by experiences, actual solutions in use
• Best Practice Template
• Professionals who work around the world
 Rapid custom-made development
• Less programing
• Ease of integration
 Customer Benefits
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Everything you need can get all at once
Challenging the XBRL, reducing the risk to fail in project
Saving more costs than hand made system
Improving alignment between business side and IT side
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Interstage XWand – Value Added
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For more information please contact
Sławomir Skrzypek
Business Development Director - BI
Parkowa 11 Street
30-538 Krakow, Poland
Tel.: (+48 12) 429 43 45
Mobile: (+48) 606 298 596
E-Mail: [email protected]