Tag Archives: Data conversion services

What is XBRL and How Does it Work?

What is XBRL and How Does It Work?

Posted on June 4, 2020

XBRl (Extensible Business Reporting Language) is an open standard mark-up language optimized for business information, but not limited to financial and accounting information. It is the variant of XML (Extensible Markup Language) adopting the same syntax and related technologies. The XBRL aids data sharing more than XML does by removing the obstacle of human terminology from the equation.

The XBRL tags are computer-readable, allowing the electronic transmission of data along with resources relating to each concept helping to define their semantic meaning. The capability of XBRL to communicate semantic meaning associated with specific data elements, independent of software application. This makes use of the transmission of business and financial information to multiple company stakeholders and regulators.

How Did XBRL Originate?

XBRL technology arose from the need for reliable and financial related data to be reported to multiple regulatory bodies. The technology created follow issues-

Continue reading

Data Conversion Services

Why Your Company Needs Data Conversion Services?

Posted on September 27, 2014

Without quick access to the right data, your business cannot compete with other companies. Right from customer contact information to financial statements and industry trends to competitor analysis, data is what ensures that you have the required information to operate efficiently on a day-to-day basis.

However, data does not always come in an easily accessible form. It usually comes in chunks and bits, which have a variety of file formats. Such disorganized and chaotic data is not only hard to access, but also hard to use.  With data conversion services, you can change all of this. Here are four reasons why your company needs document conversion services.

1. Get organized data

Without organization, your company can find itself in chaos. The same is true of data. Today more and more businesses have to deal with unorganized and disordered data, which requires an immense amount of time to organize, sort and sift through. Only if your data is organized, can it be sent to those you need to access and use it. By outsourcing data conversion services, your important data can be extracted from any file format, no matter the state of disorganization and converted into an easy-to-use format.

2. Convert data into HTML

Today, the HTML format is one of the most commonly used formats across industries. However, your data would come in a variety of formats like PDF files, PowerPoint slides, Flash files or hardcopy documents. Converting data into HTML is difficult job, not to mention the time and effort that your staff will have to put in. This task can also shift your focus away from your core business activities. This is where data conversion comes into the picture. A service provider can accurately transform your data into the HTML format, regardless of the original format. With your data in HTML, you can not only easily access it the online world, but also easily disperse it to the resources who require the information.

3. Back up your data

If your data is not adequately backed up, then it can be lost. Not only can hackers and viruses compromise on your network, but even natural disasters like floods, earthquakes or fires can destroy your hardcopy files. With data conversion services, you can permanently back up your data in a secure and easily accessible online location. You will not only be preventing data loss, but you can also eliminate duplicate/erroneous information and leverage the benefits of file digitization, all in a format that is easily accessible for your employees. Continue reading