BeyondSquare and IL&FS Securities Services Limited have partnered and setup an XBRL conversion services desk, that does on an average 300 MCA XBRL conversions each year.
BeyondSquare Solutions is one of the leaders in XBRL software and services in India, and we have helped a number of large organisations and service providers in their XBRL initiative right from the first year of filing in India.
IL&FS Securities Services Limited (https://www.ilfsdp.com/), is a brand with a legacy of 17 years in leadership, trust, stability & prestige; and operated seamlessly from 83 pan-India centres.
Our experienced, trained and qualified accounting professionals backed by a core technical team ensures guaranteed service and peace of mind for our partners. We have a stringent process of review and have a comprehensive reporting mechanism in place.
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We offer a complete outsourcing service for conversion, producing a fully compliant and accurate XBRL instance. Our experienced, trained and qualified accounting professionals backed by a core technical team ensures guaranteed service and peace of mind for our partners
Beyond Square already works with a Big Four consulting firm in generating XBRL filings, which are required to be filed with the regulators. Our experience of working on both XBRL generation and XBRL consumption, and our exposure of working in the Japanese and Indian markets, our suite of XBRL tools makes us uniquely placed to help you with your MCA filings.
We will provide tools to view and review the XBRL documents generated by us. Your team needs no prior training.
We offer strategic consulting services on all aspects of XBRL. XBRL aware companies can generate different types of reports and dashboards.
We help companies not just with addressing the immediate MCA mandate but also provide a road-map for integrating XBRL as part of overall organisational strategy and road map.
Accountants will be surprised to know that using XBRL as the technology backbone, companies can entirely automate their financial statement preparation, financial consolidation and enterprise reporting requirements.
Contact us now to discuss the approach that best fits your need, for today and for tomorrow.
Our enterprise offering, BeyondSquare Financial Management Suite is built on these principles, and is a complete cloud based offering for financial statement preparation, consolidation and financial performance management. For more details on this solution,
How should companies prepare themselves for the new reality ?
Companies should ideally approach XBRL reporting in phases.
Phase I: Address Immediate need.
The immediate need is to adhere to the MCA mandate by adopting a solution that will cause the least possible disruption within the enterprise. This is possible by. introducing XBRL conversion at the last stage of the reporting cycle. Outsourcing XBRL preparation to intermediaries (filing companies and accounting firms) or purchasing XBRL conversion tools and enabling internal staff to use them are both viable options.
Phase II: Moving from the tactical to the strategic.
Over the next couple of years, companies should plan to broaden the scope of their XBRL initiative by making the under-lying source systems XBRL aware. By doing this, companies can generate different types of reports and dashboards and enable interaction among disparate applications and systems. Using XBRL as an enterprise wide strategic tool will eliminate manual collation of data, stream-line processes, remove manual errors and automate validations.
We offer strategic consulting services on all aspects of XBRL. We help companies not just with addressing the immediate MCA mandate but also provide a road-map for integrating XBRL as part of overall organisational strategy and road map. Contact us now to discuss the approach that best fits your need, for today and for tomorrow.