At a time when most companies are seeking out software vendors to assist them with their XBRL tagging, our customers are seeing not only how Rivet can help them with this process, but also the huge benefit that can be recognized with XBRL. In fact, it is so easy to create these reports, that during our demos, we are turning the controls over to our customers and letting them create these reports.
The benefits include the ability to create a report in seconds that can compare your company to all of the companies in your SIC groups or specific companies that you consider peers/competitors. Users create this report with three simple clicks. They drag on the statement from the base elements. They drag on the calendar. They then drag on the SIC they want to see. After performing some optional formatting, you can produce a report similar to the following but for your industry.
Another example is where you want to create a report only showing you 2 or 3 selected competitors. This report is twice as hard as it takes 6 clicks. Drag on the reporting elements, drag on the calendar. And then drag a company into column C, column D, and column E. After performing some optional formatting and adding excel charts and graphs, you can produce a report similar to the following but for companies you selected.
Rivet provides the ability to get at the data and bring this data into Excel. Once the data is in Excel, we all have Excel gurus who can do magic with the data at this point. We have had customers tell us that they never knew it could be so easy to gather so much data about their competitors in such a short time.
Our customers can also pick a single company and with a single click, see their specific filing including the income statement, balance sheet and the ability to see notes and disclosures. Users can do this with a single click. Select the report or disclosure for a company and then drag it onto the grid.
So the next time you hear somebody remark that they do not see the benefit of XBRL, you will know they have been focusing on tagging and not the simplicity of analyzing data with the right product. Rivet’s solution can turn a task into opportunity for companies to be globally competitive.
Tags: crossfire, Products, reporting, XBRL
