Here at Rivet we specialize in Financial Content Management (FCM). FCM encompasses financial reporting and consolidations (supporting the internal close), submission of XBRL filings (supporting the external close) and new ways of peer group benchmarking (leveraging publicly available XBRL data feeds e.g. from the S.E.C.).

However in most organizations, FCM is not an holistic task managed by a single team. These processes are ‘siloed’ – managed by separate teams or individuals using separate applications. But transformational CFOs should be looking ahead to when XBRL becomes the glue that unifies all these processes together. When all three teams work with a single financial content management application. Or even better, a single FCM team works with a single FCM application. Read the rest of this entry »

There’s a word in Danish – hvadfornoget – which roughly means ‘What’s that all about?’. Then there’s a word I often use that my Biology master (in 1968) – a veteran of the World War One trenches no less – used to say whenever there was some kind of disturbance in the classroom: Whatthewhobeganit!

Which brings me to a point raised by Mike Willis who proposes that instead of asking ‘who is using XBRL’ we should be asking ‘what is using XBRL’. Whathewhobeganit? Read the rest of this entry »