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With Glacier, you don’t need to know XBRL for filing quarterly/annual reports with FERC

Are you stressed about the new XBRL aspect of FERC compliance? Are you evaluating the potential risks of waiting too long or being ill-prepared to apply XBRL tags to FERC forms?

These questions have probably put you on the task of being on the lookout for an efficient and cost-effective solution. You are probably prioritizing capabilities and doing your due diligence to find one solution to ease your compliance burden. We have you covered. Read on to learn how you and your team can begin preparing to simplify XBRL adoption in the process of preparing for FERC compliance with Glacier – Datatracks’ flagship cloud-based software tailored to aid FERC compliance.

Glacier is user-friendly. 

  • It works on a template-based reporting structure with XBRL tags and business rules embedded within the application. This eliminates the need to tag manually.
  • You can upload a Microsoft Excel file, key-in data, or integrate it with your internal systems. This essentially means your existing workforce need not acquire new skills to use Glacier.
  • It has a built-in workflow. Users can preview, update, or comment on templates that have been built similar to FERC’s requirement.
  • With Glacier, there is no need to invent or learn something new—the product is built on the domain knowledge that FERC reporting companies already have.

Glacier is comprehensive, simple, and collaborative.

  • The software provides flexibility to bring multiple data sources together.
  • Users can compare versions, set role hierarchies, and generate validated reports that are accurate and fully compliant.
  • It is hosted on a secure cloud and has a light UI, and easily accessible from an updated browser.

Glacier saves time and relieves key resources.

  • Power up productivity by minimizing human intervention. Since glacier has pre-built intelligence and tags, no more spending hours on typing in data and matching tags.
  • Increase time for business intelligence and analysis, enhance resource management, and meet regulatory filing deadlines by reducing manual processes.
  • Eliminate scope for human errors like typos.
  • Review data efficiently with instant change updates, version compares, automated alerts, and validations.
  • Granular permission settings with role hierarchies help you collaborate with control.

User-friendly and effective, Glacier is being used by many insurance companies and financial institutions in the European Union for seamless conversion and submission of their financial reports in XBRL.

SEC filings of quarterly and annual reports are already mandated to be in XBRL. With FERC also requiring the same format for submission, it is but expected that companies look to economize with a service provider who can present an encouraging opportunity to complete both aspects of compliance together.

At DataTracks, we have a uniquely designed support package tailored to ensure an economical method of complying with both the SEC and FERC. With validated, accurate creation of XBRL reports, on-call assistance, and secure cloud-connected products, we have your back while you take care of your business growth.

The bundle package we have on offer aligns with our strategy to expand our services into key vertical markets while helping our customers solve industry challenges. Leverage DataTracks’ broader capabilities as we work together to transform your businesses digitally.

We’d love to schedule a call to discuss our bundle offer. Drop a line to get in touch with an XBRL expert today!