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XBRL International Conference Real Stories
OneSource

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November 2003 Eric Chetwynd
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Company Background

• Public since 1999 (NASDAQ ONES)
• Delivering 5 million reports/month
• Aggregate and enhance the worlds most respected
  content sources (Multex, DB, Investext,etc)
• Provide access via CRM and internal applications
  via XML/HTML feed or Business Browser destination
  web interface

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Product Background

• 2 Large Clients asked for Financial data in XML
• First required Excel model for spreadsheet
  analysis application linked from Internal Portal
• Second required mixture of Company KPIs in a MS
  Word Prospecting Plan (initially HTML form).
• Launched market research to validate reports,
  variables being asked for (As Reported vs.
  Standardized, universe of companies would be
  accepted by client base.
• Several clients stated that they would not accept
  financial feed unless it was in XBRL.

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Preliminary Work

• Gauge demand from customers and/or suppliers
• Research XBRL schema and validate that new
  product fits into the realm of XBRL
• Can involve Internal and/or External research
• Xbrl.org, Yahoo Groups mailing List
• Could Involve Initial Client research as well
• After Successful validation, confirm with
  Internal Architecture/Dev team if platform can be
  supported at this point in time- Assess impact on
  processes and systems
• Follow up Market Research to see client
  demand/impact/expected functionality
• Plan Phases of releases- try to avoid the Big
  Bang
• Sell to Executive Team- explain strategic
  initiatives for XBRL

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Involvement with XBRL Committee

• 1st step was to speak with XBRL-US and
  International members to see if our proposed feed
  would be valid for XBRL. Done after monitoring
  email list for a month. Conference calls
  established that this fits in the realm of XBRL
• 2nd step was to convince Executive team to join
  committee and to deliver XBRL instead of
  proprietary XML
• Actual Joining was February 2003
• Attend Domain, Adoption and Specification
  workgroups when applicable
• Attend International and US conferences

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Build your XBRL Team

• In order to have a successful product, you MUST
  have at least these teams
• Product Management- Responsible for defining the
  functionality derived from Internal and External
  research. Could also be responsible for
  management of the Project. Responsible for
  spearheading Internal and External Marketing.
• Responsible Artefacts Market Requirements
  Document, Product Requirement Document,
  Functional Specification, Market Impact Document
• Content Speciality Team. Must know GAAP (IASB if
  applicable) inside and out. Must be able to make
  decisions if necessary about calculations,
  weight, and hierarchy. Can also be Consultants if
  needed
• Responsible Artefacts- Data Dictionary, possible
  work on extension taxonomies

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Build your XBRL Team (cont.)

• Architecture Team- this will be the person(s)
  that turns the simple Financial terms into XBRL
  metadata. Must know XML, XLink, XSD, XML Spy.
  Will work closely with Content team to create
  data dictionary. Responsible Artefacts Interface
  Specification, Linkbases, possible extension
  taxonomies
• Development Team- Use the cream of the crop. Best
  of whatever platform you are using. Responsible
  Artefacts Software Design Document, Software
  Change Impact Document (for QA testing purposes).
• QA- Incredibly detailed oriented. XML skills a
  must.
• ALL Teams must be able to understand the Key
  Concepts from current XBRL Specification

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Each Team then Translates your Products existing
functionality to XBRL

• Project Management- Understands key concepts of
  XBRL and translates requirements to development
  team. Must be able to answer Interface questions
• Content Team- maps data to existing taxonomies
  and know when to start creating logical extension
  taxonomies (if necessary). It is common practice
  to use a standard taxonomy and supplement it with
  a proprietary taxonomy for variables not defined
  in the standard. (Note Committee involvement can
  help the adoption of your extensions into
  standard taxonomies.
• Architecture- Writes the applicable Interface XML
  format dependent on products functionality.
  Responsible for conforming to XBRL/XML standards
  (SOAP, .Net, Java, etc.). Responsible for
  notifying Product Management about limitations
  with XBRL.
• Development- Codes to Architectures Interface
  Specification dictates
• QA- Must be to write test plans that will find
  not only data errors, but XBRL errors! (Note A
  well written Interface Specification will benefit
  the test plans greatly.

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Development Process Starts

• Market and Product Requirement Documents are
  circulated to each Resource Manager (as
  applicable)
• High Level Estimates given
• Functional Specification written
• Each Team creates Project Breakdown and Estimates
• Evaluate XBRL tools (taxonomy builders, etc. )
• And, lots of meetings!

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Product Management Activities During Development

• Liaison with marketing to make an impact with
  Market
• Prepare Training materials for Sales force to
  generate buzz about release (this should be as
  high level, non technical as possible)
• Review Planned functionality with Market Research
  contacts, Industry Analysts
• Continued Interaction and increased Activity with
  XBRL Consortium
• Plan Implementation if applicable- Documentation,
  In house Training, vendor management, upgrades,
  config changes knowledge base, Professional
  Services, etc.

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Know Impact on Business Supply Chain

• How will it help your clients? Will it be
  transparent? The Good news is that your clients
  will probably not ever have to learn the XBRL
  specifics- they will just know the impact of your
  product on the Business Supply Chain
• This will help you know the best working groups
  to associate with
• Other members on each side of the supply chain
  may be able to provide advice, create
  relationships, future partnership possibilities

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A note about Extension Taxonomies

• Highly likely that you will be able to map most
  of your data elements to existing taxonomies
• Normal to create logical extension taxonomy
  extensions for data points not addressed in
  current taxonomies.
• Tools can help here immensely

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Product status and brief product overview

• 750K companies available in via Web Services
• Up to 6 years of Income Statement, Statement of
  Cash Flows, Balance Sheet, Ratios and query
  method for aggregated variables
• Ability to be dropped into Portals, dashboard
  applications, CRMs, and MS Office

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Auto Populating Financial Analysis
Provides instant access to fielded XBRL
financials for 778,000 companies.
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Auto Populating Financial Analysis
Graphs are automatically generated to get a quick
visual sense of key company metrics .
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Auto Populating Smart Word Document
Abbott
XML/XBRL integration allows documents to be
auto-populated, creating tremendous work flow
efficiencies.
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Questions?
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