Compare IDL Publisher vs. aSISt

Current workflows are often inefficient and labor-intensive, leading to lengthy delays when collaborating with external agencies. Time is frequently squandered on repetitive tasks, as each reporting cycle demands the narrative to be built anew from the ground up. This inconsistency makes it challenging to generate coherent internal and external reports that accurately convey the story behind the data, especially when the figures or information in the reports may become outdated before they are even released. Furthermore, the absence of compliance and control during the "close to disclose" phase consumes valuable hours, as data is laboriously transferred between source systems, and various spreadsheets are exchanged through insecure means like email. It is essential to produce well-defined annual, quarterly, and other external business reports, along with their corresponding management summaries, tailored for individual companies or the entire corporate group to streamline communication and enhance clarity. This improvement can significantly minimize the risk of errors and enhance overall efficiency in reporting processes.

Since 2007, financial institutions have been mandated to submit reports that adhere to the COREP and FINREP taxonomies using the XBRL standard. With the introduction of these regulations, numerous banks in Poland encountered significant difficulties. Not only were the reports challenging to compile, but there was also a notable absence of effective tools to assist in the management and preparation of XBRL reports. In response to this predicament, we collaborated with GPM Systems Sp. z o.o. to develop an application designed to facilitate the creation and management of these required filings in accordance with the XBRL format. The aSISt application effectively conceals the intricate technical aspects of XBRL behind an easy-to-use interface, greatly streamlining the filing process for users. The interface offers forms resembling Excel spreadsheets, enhancing the application's user-friendliness. Furthermore, the filing preparation has been distilled into four straightforward steps. aSISt is equipped to manage reporting periods and taxonomy versioning, ensuring that each report adheres to the appropriate version of the taxonomy selected. Additionally, this innovative solution not only improves efficiency but also helps banks maintain compliance with regulatory requirements.