Click to edit Master subtitle style Click to edit Master title 1-27-03 Confidential XBRL International Conference Real Stories: OneSource November 2003

Click to edit Master subtitle style

Click to edit Master title

1-27-03

ConfidentialConfidential

XBRL International Conference

Real Stories: OneSource

November 2003Eric Chetwynd

• Public since 1999 (NASDAQ: ONES)• Delivering 5 million reports/month• Aggregate and enhance the world’s most respected

content sources (Multex, D&B, Investext,etc)• Provide access via CRM and internal applications via

XML/HTML feed or Business Browser destination web interface

Company Background

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• 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.

Product Background

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• 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

Preliminary Work

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• 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

Involvement with XBRL Committee

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• 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

Build your XBRL Team

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Build your XBRL Team (cont.)

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•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

Each Team then Translates your Product’s existing functionality to XBRL

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•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 Architecture’s 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.

• 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!

Development Process Starts

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Product Management Activities During Development

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•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.

Know Impact on Business Supply Chain

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•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

• 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, CRM’s, and MS Office

Product status and brief product overview

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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.

Questions?

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