CrossTag is designed to help you manage the tagging and filing process from start to finish. We’ve put a lot of thought into making it an efficient, yet precise process in which accurate filings are produced every time you file. This post explores what CrossTag can do to help you manage a filing project.

First, the system separates into two roles the template design and data entry tasks that are inherent in an XBRL filing project. In CrossTag, these two user roles are called “Preparer” and “Designer”. Each CrossTag user can be setup as either preparer or designer or both.

The role of the designer is to create templates and modify taxonomies. This user needs to understand the basics of XBRL. The preparer, on the other hand, really does not need to know anything about XBRL. This person just needs to get the data into the templates created by the designer.

Initially, the two user role concept was designed to allow filers to leverage lesser skilled individuals to perform the time consuming data entry duties. However, with our current beta release of the software (CrossTag Spring Release), we’ve solved this problem with technology.

We’ve now given the designer the ability to import data directly from an Excel spreadsheet which eliminates the need for a data entry person. As long as you have an accurate Excel version of your financials, you don’t have to worry about data entry (see my previous blog entry for more information on this). So the designer and preparer roles are still important, but are easily performed by the same person.

We are also introducing, with CrossTag Spring Release, a user-configurable workflow module which augments the simple designer/preparer roles to include specific steps and tasks for these roles and additional roles of reviewer and auditor with appropriate steps and tasks. The module comes pre-configured with several steps and tasks as shown in the chart below.

The module allows you to add, delete, or modify tasks as needed. When you have the workflow setup the way you want it, you’ll assign a user to each step and initiate the workflow. At that point, an email notification is sent to the user assigned to the first step. The user logs in, completes the assigned tasks and marks the step as completed. Then an email is sent to the user assigned to the next step and so on.

Since CrossTag is a hosted solution (although you can store your data locally) the various users involved in this process can easily collaborate across time zones. As long as they can access the Internet, and have sign-on credentials, they can access the tools and data they need to perform their job.

Each user has access to the “View Workflows” screen where they can see the current workflow step and related tasks, what’s been completed and what’s yet to be completed. This is illustrated below.

We all know that projects rarely go exactly as planned, so we have created a workflow administrator who has the ability to change the workflow while it’s in progress. This user can re-assign users, delete tasks, and even advance the workflow to the next step as needed. Here’s a screen shot of what the workflow administrator screen looks like.

Workflow combined with user roles and worldwide access result in an XBRL tagging project that can be easily managed and controlled. If you want to have your Singapore office work on the template at night and then have the Los Angeles office pick it up in the morning, and manage it all from New York, you can easily do that with CrossTag.