We are pleased to announce that we have partnered with Virtua Research to offer analysts and sophisticated investors the Interactive Analyst Center – a new standard of rendering a company’s financial data.
The Interactive Analyst Center was originally designed at the request of Agnico-Eagle Mines Limited with the purpose of providing investors and analysts the most advanced new suite of interactive financials and graphing tools, all embedded in a single, logical location — the investor section of a company’s website.
Some of the KEY FEATURES include:
Excel like Presentation – for ease of use and accessibility
Multiple Annual and Quarterly Data – for simplified, more contextual investor understanding
Export to Excel – statements and data can be exported for simplified model building
Interactive Graphs – build, select and graph interactive operational and financial ratios
Links to Actual Filing Data – right-click any line item to view source documents
Ratio Descriptions – left-click any ratio for more detailed information and formula
There are also many BENEFITS to making this feature available on your company website as it will:
Increase your company valuation with best practices transparent disclosure
Offer the interactivity of exporting to Excel up to 5 years of aggregated financial data
Save time, effort and money educating existing and potential investors
Improve control of your financial message for more consistent investor modeling
Update your quarterly financials in real time for conference call “housekeeping” questions
Provide new methods of visualizing financial relationships with interactive graphing tools
Seamlessly integrates into any corporate or investor website
The XBRL-US developer Technology Workshop & Summit was recently held in Santa, Clara, CA. The event was hosted by Hitachi Data Systems and brought together XML developers and other professionals from around the world who are involved with implementing XBRL reporting standards.
The 2 ½ day event consisted of discussion sessions and workshops to educate and generate ideas on solving issues in XBRL development such as rendering, versioning, data quality and validation.
In an otherwise very tech-centric conference, Q4’s Co-founder and CEO, Darrell Heaps provided some interesting ways that companies can make XBRL content discoverable, shareable and viral to move seamlessly through the financial web by key stakeholders such as analysts and investors.
As you may recall, we blogged about a NIRI session we attended “Understanding IR Strategies Behind XBRL – IROs Evolving Role”. In this post we provided a broad overview of why XBRL is relevant to IROs and the requirements for adoption, a broad definition and the implications of using it to help improve processes.
Recently a report was published by The Canadian Institute of Chartered Accountants (CICA) targeted to CFO’s entitled “Transition to XBRL”. In spite of this being issued in Canada, the report provides a balanced review of what is required for U.S. companies and foreign private issuers under the SEC’s implementation schedule for XBRL as well as highlighting significant developments in the implementation of XBRL as it pertains to Canadian preparers.
It also explores the benefits and downfalls of implementation and offers some practical tips that are applicable and easily adaptable to issuers in both the U.S. and Canada. I do recommend that you read the report in its entirety and keep it handy for reference, but wanted to provide some of its highlights.
As usual, there were a lot of great sessions to choose from at NIRI’s Annual Conference from June 7-10 in Florida. The Q4 team attended as many as we could which meant we didn’t always have the time to do write a blog post that day. What follows is an overview of a session I attended on Tuesday, June 9th entitled “Understanding IR Strategies Behind XBRL – IROs Evolving Role”.
Moderator/Lead Speaker:
We officially launched our Summer ’09 release from the NIRI National Conference in FL, which introduces Social Media and XBRL capabilities to IR websites. This latest release offers different ways for investors to find, subscribe and share content through social networks.
Q4’s web platform continuously evolves with market and regulatory trends that keep the IR website on the leading edge of companies’ investor communications.Q4’s latest IR website products create viral IR content, which means they can be shared, disseminated and republished across the web to millions of retail and institutional investors.
Customers can now:
Embed and distribute presentations, videos and documents through SlideShare, YouTube and Docstoc,
Aggregate all social activities on the IR website with inbound RSS feeds.
We also announced from the NIRI National Conference, that our Q4 web platform now delivers a highly accurate real-time rendering of XBRL-tagged SEC filings.
This new product enables users to view XBRL-formatted financial statements in an easy to read display on IR websites while helping public companies meet the new SEC XBRL regulations which require them to post financial statements in interactive data formats.
To respond to this mandate Q4 now offers US-based filers:
XBRL financials with real-time rendering on your website – once your XBRL filing is accepted by the SEC, within minutes your website is updated with the complete filing displayed in HTML,
Multiple report formats for enhanced financial analysis and reporting by investors, analysts and the financial media, and
Ability to view and download XBRL reports, or share embed codes through social networks.
If you’re interested in learning more contact us todayand we’ll setup a live product demo.
The Q4 team is off to the NIRI National Conference in Hollywood, FL from June 7-10. For those who are attending we are looking forward to meeting with you, so stop by booth #504 to:
• Find out why social media is now a key aspect of investor relations in lowering capital costs, why it doesn’t need to be difficult and how to responsibly get involved.
• Learn about XBRL filings that can be viewed in an easy to ready display on your website.
For those of you, who can’t make it, we will be providing regular updates on Twitter and posting on our blog.
Earlier today we released our Summer ‘09 Preview through Twitter and LinkedIn. In case you didn’t see it there, we wanted to let you know that our latest release brings Social Media and XBRL to Investor Relations websites in a way that you haven’t seen before. If you’re interested, register for a demo today and your chance to win an HP Netbook!
Over the next couple of weeks we are going to officially launch Summer ‘09 and provide more details on these exciting new additions. Until then, a couple of key features that separate Q4 from the rest of the IR website providers include:
30+ best practice IR website modules integrate with any website
Easy to use content management and workflow
Leading edge Investor Tools and Social Media Sharing
XBRL financials with real-time rendering on your website
Presentations, videos and documents distributed through popular social networks
Full-text RSS feeds, email alerts and subscriber management
Website disclosure records and verifiable audit trail
Yesterday Catherine Crofton delivered our first webinar regarding removing the 5 barriers to an effective investor relations website. I come from a web development and media background so I was a bit green to all this IR stuff when I started at Q4 a couple of years ago. Needless to say I’ve been schooled the hard way and have learned internally and from our customers what issuers need to say to their investors.
One of the questions that stood out to me from yesterday’s webinar was when an attendee asked if we had any samples to show how small cap companies are leveraging the IR website best practices Catherine was speaking about. Catherine had shown great examples from some larger companies, namely, Nexen and Potash and explained how they have done a great job of conveying their messaging as well as making it easy for their audience to find information quickly. Read more…
On September 24, 2008, representatives from the Canadian Securities Administrators (CSA) will hold a free information session for industry participants and members of the media on the increasing use and importance of XBRL (eXtensible Business Reporting Language).
The information session will feature expert speakers from the CSA and the U.S. Securities and Exchange Commission (SEC) who will discuss recent proposals by the SEC for the mandatory use of XBRL, as well as the move to XBRL in Canada.
“As a business reporting language, XBRL will make it easier for investors and analysts to analyze financial information from a large number of different companies,” said James Turner, Vice-Chair, Ontario Securities Commission. “The CSA is supportive of XBRL and is hosting this event to help the Canadian marketplace gain a greater understanding of this exciting technology.”
Speakers:
James Turner, Vice-Chair, Ontario Securities Commission
David Blaszkowsky, Director, Office of Interactive Disclosure, SEC
Peter Grant, Chief Information Officer, British Columbia Securities Commission
Wednesday, September 24, 2008 from 1:30 p.m. to 3:30 p.m. at the
Metro Toronto Convention Centre, South Building in Room 714
There is no charge to attend this event. For registration, please go to www.xbrl.ca/registration, or contact Joanne Platsis at the Ontario Securities Commission at 416-593-8222.
Earlier today the SEC Chairmen, Christopher Cox unveiled the successor to the form based EDGAR database. The new system is called IDEA (Interactive Data Electronic Applications) and will be built on an XBRL based platform that will give investors access to faster and more detailed financial information than ever before.
During the webcast Chris Vickerson, our CTO was involved in FT Alphaville’s liveblog discussion and also had one of his question answered by Christopher Cox. After the web cast the SEC home page was updated with a significant focus on IDEA. From the link on the home page there is an overview of IDEA that I’ve summarized below (emphasis is mine):
IDEA will at first supplement and then eventually replace the EDGAR system, which will become an archive of SEC filings made prior to the new era of financial reporting in interactive data format. The SEC has formally proposed requiring U.S. companies to provide financial information using interactive data beginning as early as next year, and separately has proposed requiring mutual funds to submit their public filings using interactive data.
The decision to replace EDGAR marks the SEC’s transition from collecting government-prescribed forms and documents to making the information itself freely available to investors in a user-friendly format they can readily use. Instead of sifting through one form at a time in EDGAR and then re-keyboarding the information to analyze it, investors will be able to utilize interactive data to instantly search and collate information to generate reports and analysis from thousands of companies and forms through IDEA.
The ease with which interactive data will make financial information more readily available also is expected to generate many new Web-based services and products for investors. IDEA’s launch represents a fundamental change in the way the SEC collects and publishes company and fund information — and in the way that investors and the markets will be able to use it.
Although there was nothing materially new announced during today’s webcast (no new technology or application were shown), IDEA is an important when viewed in the context of how disclosure is going to evolve over the next 5 years. The timetable to full maturity is 5 years out, and while it is being phased in EDGAR will remain an important component of the financial disclosure system. However, if we fast forward to market adoption of XBRL and IDEA there will be many new ways that companies will create and distribute disclosure to the market and there will be all sorts of new applications and methods for investors to benefit from this data. It certainly is an exciting time for our industry and we are very pleased to see the leadership Christopher Cox has shown in bringing the SEC into the age of the Internet.
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On September 24, 2008, representatives from the Canadian Securities Administrators (CSA) will hold a free information session for industry participants and members of the media on the increasing use and importance of XBRL (eXtensible Business Reporting Language).