DataTracks India’s XBRL Portal Goes Live with a New Look and Feel
The new look and feel portal for XBRL services from DataTracks India (www.datatracks.in) went live on 10 April 2012. The portal which was originally launched in September 2011, offers cloud based self-service and fully outsourced services converting financial statements into XBRL format (for filing with Ministry of Corporate Affairs in India) to Companies, Chartered Accountants and Company Secretaries in India. The portal has been redesigned to reflect a more intuitive user interface, complemented by a visually appealing color scheme with the objective of making the portal easy to use.
DataTracks offers three types of services to Companies and CA/CS firms:
- A self-service template where users can type in the numbers and text in designated blank spaces and extract a financial statement in XBRL format for a price of just Rs 500 per entity. Many small and midsize enterprises find this service very attractive and easy to use.
- A self-service tool where users can upload their financial statements in Microsoft Word format; invoke the taxonomy and set up XBRL tags for every line item and extract the financial statement in XBRL format for a price of Rs 1000 per entity (conditions apply). This is useful for more complex financial statements that contain non-standard items of disclosure, and
- A full service where users upload financial statements and DataTracks converts the financial statements into XBRL format for download by users for a price of Rs 6500 per page.
The self-service template and the full service are already in place. DataTracks plans to launch the self- service tool in the near future.
Users find the web portal based self-service tools competitively priced and far easier to use than off-the-shelf software since there is no need to ensure software versions and taxonomy versions are kept up to date. The self-service template is exceptionally easy to use. The self-service tool requires probably 4 hours of investment in training.
The portal of DataTracks India is part of DataTracks Global, leaders worldwide in XBRL reporting. “www.DataTracks.in will help us provide a comprehensive engagement experience to our customers. The portal will be a point of entry for users to subscribe to DataTracks India’s XBRL services. It will also be a repository from where users can download useful material on XBRL services, post their queries, and get industry updates”, said Suresh Illath, Vice President, Service Delivery, DataTracks India.
About DataTracks India: DataTracks India is a unit of DataTracks Services Limited (www.datatracksglobal.com), leaders worldwide in preparation of financial statements in XBRL format for filing with regulators. DataTracks has prepared more than 60,000 statements (in ASCII, HTML and the more recent XBRL format) for filing with Securities Exchange Commission in the United States in the last five years.
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