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iFile Suite

NeoClarus iFile Suite

The NeoClarus iFile software suite consists of the following components, specifically designed for enterprise customers

* iFile - collaborative XBRL tagging and financial report creation

* iTransform - data extraction/collection from any source staging for XBRL tagging

* iAudit - XBRL tag and data audit and validation

The process for XBRL document creation is so simple: link your accounts just once; then select any taxonomy (XBRL/SEC published library), and follow simple steps to tag and generate the report.

The process can be broken down into simple steps:

1. Create a report Project in iFile

2. Extract data using iTransform:
iTransform collects and transforms corporate data source into financial data for creating XBRL financial statements. Our product is built specifically to create reusable XBRL-ready target maps to automate ongoing data collection and expedite XBRL financial statement creation. iTransform has in-built adapters for major ERP packages like Oracle, SAP.
"Tag" your data at its source. The wizard-like interface makes it easy to "map" your company's financial accounts to standardized XBRL "tags." The tagging engine tags the accounts based on the latest XBRL taxonomies for your industry. Once the accounts are tagged, the engine recognizes the data and generates required XBRL report (ie.,10Q, 10K etc.).

3. Automatic data validation flags unbalanced accounts, helping you resolve data mapping errors before the running reports are seen by investors, analysts, or government agencies.
iAudit validates XBRL tags and data for auditors who need to review XBRL-based financial reports for accuracy. iAudit is a differentiated functionality to enterprise customers, which addresses compliance requirements by providing secure online collaboration between internal/external auditors, Corporate Preparers (CFOs and Controllers), and Financial Printers through iFile on-demand

4. Publish error-free reports on time with iFile
Whenever you need a report use the iFile wizard and proceed with the few simple steps to produce more accurate, interactive filings in significantly less time and cost.

Self Service

Feature Function Benefit
Collaborative Platform Web based solution Real time review with all parties including preparer, auditor and flier
Workflow Step By Step process to generate an XBRL instance Wizard based application provides the complete end-to-end creation of an XBRL instance from initial format to tag, validate and prepare for an SEC submission
Automatic Date Range Capture System recognizes start and end dates for downloaded files Eliminates manual step of recording the start and end date of each statement
Auto Mapping - Matching Maps labels to the correct taxonomy attribute value (definitions) Reduces the manual tagging exercise and enables the user to concentrate on the more difficult tags and or extensions
Download any (Current) taxonomy Capable of supporting a variety of taxonomies and assurance of the usage of latest version Flexible to handle a variety of taxonomies along with the assurance that the taxonomy is the latest version published
Search Capability Locate associated taxonomy attribute values (definitions) Search the taxonomy to determine the correct tag for each element, offers all of the options to refine the search that meets corporations requirements
Definitions Displayed Hover over attribute value to determine the correct match Human readable definitions provide insight into the decsion process to correctly select the appropriate definition
In Line Extension Create customized links Once all of the attribute values (definitions)have been exhausted without leaving the application a new extension can be generated providing a customized link
Highlights tagged elements Initial Mapping will highlight the tagged elements Concentrate only on refining the search to identify the correct match for the more difficult attribute values to assign reducing the manual tagging exercise
Notes Field Displays a description or comment for future reference Offers a field to identify special instructions or reasons for assignment of values for the audit trail
Footnote linkage Link attribute name to a footnote Enables mapping elements to footnotes and highlights the event in the special section for review
Pinpoint Errors Check and balance review that identifies syntax, semantic utilizing XBRL 2.1 Specification Automates the auditing function to quickly identify any errors or problems with the Instance creation
Navigate Errors Highlighted errors will be directed to the problematic area Click on the error and the system will highlight the exact element that was identified, reducing error resolution time
Internal Review Complete review prior to SEC submission Validating the instance offers an assurance that the SEC submission will be error free eliminating additional filings
Warning elements Highlights elements that may have issues identifies elements that either have not been tagged or potentially may cause trouble, providing more visibility to resolving the error free submission
Viewer Human Readable View Displays the name, element ID and time frames. In addition, if you hover the element name it displays the complete definition to provide more visibility for review

iFile Suite Reviews

I would use this again
( CFO at Aargo Inc.)
Business where it was used: Revenue: Less than $10M, Industry: Financial services
I have used this company for a complete reporting cycle of 10Qs and 10K, and intend to renew my subscription for a further year. They are cheaper than the competition I have evaluated and have been very responsive in ensuring timely filings even when we have been slow to deliver our content. The account executive assigned to my account has gone beyond the realm of normal commercial support and provided me with a perspective and education in the background of XBRL that has been very helpful in learning to live with this added burden for small companies. I recommend this Company to anyone, regardless of the size and complexity of their SEC filings.
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1 Rating, 1 Review
1 out of 1 would use this again

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