A growing number of XBRL reports of the banking sector causes demand for reporting processes automation

publish: 12.09.2011

Recently, we have witnessed the tightening of a loop of supervision over the banking sector. The main result of this process is a growing number of reports required from banks by domestic markets regulators. One of the biggest problems of reporting process becomes thus the cost of work and time spent on manual data entry into the reports.

In fact, there are many outdated solutions on the market – based on few components (e.g., Excel plus XBRL converters) and providing very limited possibilities of data input automation.

Modern XBRL solutions deal with these problems in several ways. The most common one is the implementation of dedicated solutions to the existing systems. Usually, the solutions work correctly, but they are not free of disadvantages. The biggest disadvantages are: long time spent on preparation, high cost of the solutions and many difficulties in the use of the systems, including complicated technology and impossibility to make any further necessary changes without the help from IT experts from the software provider. Generally speaking, the solutions are expensive and very difficult to use.

In response to these problems, we proposed an alternative solution. GPM Systemy together with Fingo created a modern specialized data mapping module for aSISt system. The module is dedicated to bank and their reporting processes and, what is the most important, it is ready to use.

The data mapping module enables data entry automation by calculation and fetching data by mappings from internal data sources, such as a data warehouse, etc. It takes only few minutes to fill a whole XBRL report with tens of forms. Obviously, it requires also the preparation of mappings which have to be fixed previously, but the language is very easy even for the user without any IT knowledge. This means that the bank staff can handle with mappings on their own and keep full control over the automation process.

To find out more about the mapping module download the description:

aSISt- Mapping module