- Users can extract data points from financial/insurance/sustainability reports/company notifications : Financial measures, policy types, premium, risk types, prudential, credit allocation ; Carbon emission reduction, energy consumption indicator, hazard/waste management.
Information Extraction
XBRL Transformation
Regulators, partners (Investor Relations/ Accounting/ Audit firms) and Statutory Auditors can use TAS-FINAS for automatic transformation of financial reports, related periodical documents and regulatory filings, into a standard and structured analysis-ready XBRL output that can be utilized for regulatory compliance requirements. It processes numerical data as well as textual notes and transforms them into XBRL format
XBRL Transformation Solutions can be utilized by regulators, partners (Investor Relations/ Accounting/ Audit firms) and Statutory Auditors.
Regulators:
- TAS Transformation and XBRL Conversion System can transform any annual report (submitted in word, PDF or excel format) into a validated XBRL and could potentially help both the filer community and the regulator
- In a voluntary XBRL compliance scenario, the TAS system, when implemented, can increase the XBRL filing percentages way beyond current numbers or smoothly usher in XBRL in the regulatory environment
- In a mandatory XBRL compliance environment, TAS can educate the filer community in their understanding of country-specific XBRL and ensure all companies file their financial reports as per XBRL requirements. It can also help evolve the right-ecosystem for companies to adopt XBRL by understanding real-world taxonomy requirements of the filer community on the basis of the filing behavior analytics provided by TAS platform
Partners (Investor Relations/Accounting/Audit firms):
- TAS partner can use TAS-FINAS software via a web-based client for automatically transforming an input document into XBRL and validating the same
- Last mile manual QA will be done by TAS partner and final XBRL instance sent to end-customer or statutory auditor, as applicable
Statutory Auditors:
- Auditors can use TAS-FINAS software via a web-based client for viewing/reviewing/editing XBRL output
- They can run both the original input documents and XBRL output through the system and perform a comparative validation, identify discrepancies and generate a revised XBRL instance
topSeamless Data Conformity, Interpolarity and Analytics
Key features include the following
- Ability to validate the conformity of submitted data against standard norms
- Cross-link/juxtapose data points collated from diverse sources such as financial statements, company notifications, company metadata, sustainability reports
- Facilitate communication between diverse data-sets and bring legacy and current data onto the same format
- Build data analytics and business intelligence by leveraging data conformity and interpolarity
Data Format Creation and Seamless Input Document Processing
Key features include the following
- Pre-analysis of legacy data to generate a data format (this can be extended to incorporate changes in data requirements) which is compliant with XBRL
- Transformation of input data into XBRL
- Working with jurisdiction firms to facilitate compliance with new format
Supporting Documents Processing and Analysis
Key features include analysis and cross-linking of information within supporting documentation with respect to proposal/form data submitted by companies
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