The Tax & Accounting business of Thomson Reuters today announced the launch of I-Metrix powered by Checkpoint, its online productivity and workflow solution for tax and accounting professionals.
Tax & Accounting partnered with EDGAR Online Inc. (NASDAQ:EDGR) to design and build the XBRL (eXtensible Business Reporting Language)-enabled tool allowing subscribers to instantly retrieve detailed financial information directly while working within Microsoft(R) Office Excel(R). I-Metrix delivers financial data within hours of being filed with the SEC and significantly reduces the time it takes to prepare benchmark analysis or create internal financial dashboards.
"Tax & Accounting is committed to expanding the data and tools we provide to our financial reporting and management community," said Keith Haurie, Vice President, Product Management, Research & Guidance. "EDGAR Online's technologies and capabilities will enable us to continue to deliver the state-of-the-art, cutting-edge technology our clients expect. Access to I-Metrix XBRL-powered data and analytical tools is a natural next enhancement to SECPlus on Checkpoint, our flagship product for SEC compliance."
Philip Moyer, EDGAR Online President and CEO, added, "Thomson Reuters is a clear leader in tax and accounting software with Checkpoint, EDGAR Online is a clear leader in XBRL with its I-Metrix software and data. Our combined strengths provide an unmatched set of tools and knowledge to manage risk, detect anomalies, assist in transparency and to gather and benchmark data for their clients - all leveraging the latest in financial reporting standards."
"With the SEC's recent announcement of its intention to mandate XBRL reporting, tax and accounting professionals are looking for tools to help them support the detail their clients need in this new environment of financial reporting. I-Metrix powered by Checkpoint is world class XBRL technology combined with world class tax and accounting knowledge all in a single easy to use tool, providing a clear competitive advantage in this new world of XBRL financial reporting."
Benefits
- Delivers powerful data sets and analytical capabilities directly to Microsoft Office Excel, improving data analysis workflow.
- Provides a simple, streamlined method for subscribers to integrate datasets into their workflow, saving hours of traditional "cut and paste" spreadsheet work while increasing confidence in the accuracy of information.
- Provides the most accurate and timely XBRL data in the marketplace with the lowest error rate
- Also streamlines user effort - a single click links any data cell directly back to the EDGAR source filing to give validity and the XBRL accounting definition of the line item.
- Automatically updates financial models previously created by a subscriber in I-Metrix with the most recent financial data, saving the subscriber time when generating repetitive reports such as quarterly reports to directors.
- Direct linking from EDGAR source filings into SECPlus for relevant information and tools associated with SEC compliance.
"Increased demand for peer-to-peer analysis and recent SEC initiatives to require XBRL filings are driving the need for seamless integration of key sources like EDGAR Online's SEC filings and I-Metrix. Integrating these productivity solutions into SECPlus further strengthens our product offering and helps us best serve our customers," said Haurie.