Rivet Software Interactive Financial Management CPE Webinar Presentation

Thursday, May 30, 20131 CPE Credit

2 RIVET SOFTWARE © Interactive Financial Management

HOUSEKEEPING

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WHO IS RIVET SOFTWARE?

Released

Released

Released(Released to Open

Source in 2008, 7500+ downloads)

The SEC awarded Rivet contract to create a XBRL

filing viewer

Rivet completed joint project with Thomson Reuters to create a

universal XBRL loader

SEC announced XBRL Mandate for

corporations and mutual fund companies

Rivet established strategic partnership with RR Donnelley &

CO. (RRD)Rivet services 1,600

companies for corporate filings &

support 4,500 mutual fund filings

Rivet terminates services agreement

with RRD to refocus on customer satisfaction &

software productsThe SEC awarded Rivet contract to create

a rule-based XBRL rendering engine, still in use on SEC.GOV


PRESENTER

Raul Varela, CFAVice President of Partnerships

Raul manages the development and direction of Rivet’s strategy for becoming the industry leader in global financial communications. As a former Investment Analyst, he is an expert at identifying market trends and predicting the impacts of new technology on business users. His experience in strategic partnership development and corporate strategy combined with his gift for project management, allows him to provide Rivet with key financial information knowledge along with strong leadership.


AGENDA

+ What is Interactive Financial Management?

+ Why XBRL?

+ Leveraging Microsoft Office

+ Disclosure Management

+ SEC Reporting

+ Data Automation

+ Interactive Reporting


POLLING QUESTION #1


IFM DEFINITION

Interactive Financial Management

The management of financial reporting, financial control, and financial decision-making enabled by XBRL -- the global language of finance.

Interactive Financial Management provides the capabilities to extend the “last mile of finance” to the “next mile of finance”.





POLLING QUESTION #2

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RIVET SOFTWARE © Interactive Financial Management

WHAT IS XBRL?

XBRL stands for eXtensible Business Reporting Language

It is a language for the electronic communication of business information, providing major benefits in the preparation, analysis and communication of

business information. It offers cost savings, greater efficiency and improved accuracy and reliability to all those involved in supplying or using business

information.

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WHAT DOES XBRLLOOK LIKE?

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XBRLTIMELINE

TIMELINELimited liability no longer applies for some public companies from August 2011. By August 2013, Limited Liability will expire for most public companies.

LIABILITYAfter Limited Liability expires, XBRL financial information filed will be subject to the same level of liability as other financial information filed.

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XBRL IS INTERNATIONAL

UKCA

SPUS

AU

NZ

IR

JPKR

BE

VZ

CO

BR

AR

PT

RU

SG

HK

NOSE

PL

FI

IT

CN

IN

LB

CZ

UA

LUIASB

AE

NL

TR

GR

MTCH

FR

SI

HU

AT

Established Jurisdictions

Provisional Jurisdictions

in Construction & in Project

DE

DK

ZA

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USERS OF XBRL

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POLLING QUESTION #3

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WHY MICROSOFT OFFICE?

PresentationsData / Numbers

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LINKING EXCEL TO WORD

Excel

Word

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LINKING EXCEL TO POWERPOINT

Excel

PowerPoint

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CASE STUDY: ENERGY PROVIDER

Manual ProcessesThe internal process included typing hundreds of changes into a Word document, printing it out, handwriting additional changes, then walking upstairs to the SEC Accountant office and handing her the printed changes. Every time a number changed it had to be updated manually throughout the entire document.

Robust linking from Excel to WordChanging a number in their spreadsheet once and updating it automatically throughout their Word document.

1000+ LinksCrossfire linking allowed them to change a number in MS Excel and update it automatically throughout their MS Word Document.

CHALLENGE SOLUTION RESULT

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Collaborate with team members while creating disclosures. Easily allow internal and external team members to review content with in

disclosures. Work simultaneously with others on a single disclosure.

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DISCLOSURE MANAGEMENT

Multi-User collaboration

External review with Ease (Auditors/Legal)

Multiple documents with single data set

Version control (No pencils down!)

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CASE STUDY: CARDTRONICS

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Handle all the XBRL and EDGAR HTML filing requirements of the SEC mandate. Select tags once and reuse quarter to quarter including the

formatted EDGAR HTML. Roll forward your disclosure with a few clicks taking seconds instead of days.

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SEC REPORTING

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CASE STUDY: SUSSEX BANK

Multiple Timelines, Multiple Challenges.Wasted time using outdated processes instead of focusing on the quality of our data.

Sussex Implements CrossfireCrossfire’s Filing Wizard allowed Sussex to file their HTML and XBRL directly to the SEC.

$4,000 saved and 5 days gained.By using the Filing Wizard, the team completed their HTML and XBRL review two days prior to their deadline.


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The key link of the core accounting and finance information into the last mile of financial reporting. Provides easy access to financial information based on

the accounting structure of the information (the chart of accounts in many cases) instead of a more complex IT view into the data.

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POLLING QUESTION #4

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CASE STUDY: HELIX ENERGY

Manual InputsHelix prepared filing documents by manually entering data from various spreadsheets, combining email and pdf documents, and by copying and pasting from various enterprise resource planning (ERP) and business process management (BPM) solutions.

Data AutomationData could be moved directly from the company’s ERP solution into a platform, where tagging and validation are easily applied and verified.

Instant & Accurate DataThe data connector between their Oracle ERP and their SEC filing platform worked seamlessly. This process alone saved their team considerable timeas normally we would have to hand type all of the financial data into our periodic reports. now it populates instantly and accurately.


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Build digital board books that link back to your underlying data source. Drill down to the details that make up the number reported. Merge internal data with external

data from the SEC to easily create peer comparisons and benchmark reports. Take your information to the next mile of finance.

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CASE STUDY: NATIONAL HEALTH INVESTORS

Prior to using Crossfire’s SEC Data Feed, NHI manually used SEC.gov, created complex

formulas, calculated numbers, created PDF pages, and then finally emailed the files to the

executive team.

“We’re now able to get answers in minutes instead of hours. In our industry, being able to

quickly know what (and how) our peers are doing makes all the difference,” states Bell. NHI

demanded more from XBRL and Crossfire delivered. Rivet’s Crossfire enabled NHI to

strategically turn the SEC XBRL mandate into better analytics and better data throughout their

entire organization.

FAST & ACCURATE COMPETITOR ANALYSIS

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POLLING QUESTION #5




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CONCLUSION

+ What is Interactive Financial Management?

+ Why XBRL?

+ Leveraging Microsoft Office

+ Disclosure Management

+ SEC Reporting

+ Data Automation

+ Interactive Reporting

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QUESTIONS?

QUESTIONS?

Interested in learning more about Microsoft Office best practices?

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Rivet Software Interactive Financial Management CPE Webinar Presentation