As we get closer to July, I am getting more and more excited about witnessing the explosion of XBRL data in US. Finally, the remaining public companies will submit their financial statements in XBRL, the entire country would be united to democratize the financial data. I know, I know, I am probably going overboard with the sentimental stuff, but if you are like me that have been working with and dreaming of XBRL for the last seven years, you will probably feel the same way.
Rivet is in a pretty unique place when it comes to XBRL. We started the company because we believed in standard-based reporting when XBRL was still in its infancy in this country. We started with a reporting platform when there was NO revenue potential in sight, in a way, we banked on XBRL.
In a small way, we have helped the SEC to “market” XBRL to public companies by creating an “interactive data viewer”. When we got the contract from the SEC to create the viewer, we celebrated by getting a really large bottle of wine in a local restaurant in Denver, and I still have the wine bottle displayed in my office to commemorate the occasion. (It was a good bottle of wine!)
As we get closer to July, I want to remind myself and colleagues in my company just how far we have come since the SEC’s Voluntarily Filing Program. If you are interested, the VFP data viewer is still available, maybe only for a short period of time. We have created a free viewer that hosts all the filings submitted to the SEC after the mandate, it’s called CrossView.
When we got that large bottle of wine, we had less than 17 employees. Now, we have more than 200 employees in the Denver office alone. So, instead of getting wine, I created this infographic to tell a short story of the SEC XBRL filings. We should all celebrate that we have played a part in making data available to all people, to empower the public, to make data transparency one step closer to reality. Cheers!
Links:
SEC Voluntary Filing Program XBRL Viewer »
Tags: data democratization
