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How eBusiness Standardization can help XBRL

How eBusiness Standardization can help XBRL. Dick Raman, CEO TIE Holding NV Chair UN/CEFACT Forum. Agenda. What is UN/CEFACT? What is ebXML? Why is TIE involved? Will XBRL be successful? Issues for XBRL Challenges for XBRL. UN/CEFACT. S IMPLE, T RANSPARENT AND E FFECTIVE P ROCESSES

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How eBusiness Standardization can help XBRL

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  1. How eBusiness Standardization can help XBRL Dick Raman, CEO TIE Holding NV Chair UN/CEFACT Forum

  2. Agenda • What is UN/CEFACT? • What is ebXML? • Why is TIE involved? • Will XBRL be successful? • Issues for XBRL • Challenges for XBRL

  3. UN/CEFACT SIMPLE, TRANSPARENT AND EFFECTIVE PROCESSES FOR GLOBAL BUSINESS.

  4. UN/CEFACT Forum Technology Syntax Business Documents Legal UN/CEFACT Plenary >250 delegates (Governments, Global Organizations) UN/CEFACT Bureau UN/ECESecretariat UN/CEFACTRapporteurs

  5. UN/CEFACT Responsibilities • Trade facilitation • Simplification of global trade • Between Governments and Companies • Using eBusiness • Producing Global standards • UN/Layout Key (UNeDocs) • UN/EDIFACT • ebXML (in cooperation with OASIS)

  6. The Multi-Enterprise cCommerce Framework • Interoperable, open, global, B2B ‘standard’ • Complex solution and SME support • Leveraging existing technologies and standards • Integration of business processes: • By electronic means • Independent of the technical solution. • Allowing business processes and technologies to evolve independently

  7. ebXML Focus Areas • Semantic Framework • Meta-model for defining business process • A set of re-useable core components (common business semantics) • Infrastructure • Transport, Routing, Packaging • Collaboration Protocol Profiles/Agreements • Shared repository network • company profiles, business process models and related message structures

  8. Architecture

  9. Core Components • Designed to capture: • Business concepts (commonality) • Relationship between business concepts • Individual pieces (objects) of business information in a context • Format: • Syntax Neutral • Can contain other core components • Uniquely identified (GUid) • Facilitate multi-lingual support

  10. SMDG PIDX HR-XML EHD xCat UBL Rosettanet OTA IATA cXML E-construct CATXML Togaf Bolero XAML Opentrans xCBL HL7 Acord CIDX BSML agXML VICS SWIFT GCI UNeDoc GML Too many data standards All have different data elements!

  11. UN/CEFACT Core Components UN/CEFACT Core Component Library Reconciliation Of Data Elements 200? 2004 2002 1999 Existing Standards verticals XML X12 EDIFACT eGov SGML XML Etc.

  12. Standardization of Semantics • Groups of people can decide on semantics • But they are not interoperable with other groups • A Global Top-Down Process is required • To capture semantics • To structure/harmonize them • In order to simplify the interactions • UN/CEFACT was set up to do this • Commitment at the highest level • It takes many years

  13. UBL • First glimpse of what ebXML looks like • They took the short-cut: • Syntax Specific • Limited reach • Good eBusiness solution for the short term • UN/CEFACT and OASIS back together • To guarantee migration to ebXML

  14. Transport Structure

  15. Why is TIE involved? • TIE is a B2Bi Software Company • TIE is a Public Company • Must report in IFRS starting 2005 • Full Integration of IFRS in Accounting System • Quarterly/Annual reports in XBRL • TIE is experienced in eBusiness Standardization • TIE adapted its eBusiness tools for XBRL • TIE has tools available for the best infrastructure for XBRL (ebMS) • TIE has partnerships in place to offer full implementation & support.

  16. Will XBRL be successful? • All major players support XBRL • IFRS is Mandatory in Europe • Rest of the world is following • Dutch government first to enforce • 25% cost reduction (EUR 3 bn) • mandatory reporting in XBRL • There is no competing standard • No semantic discussions • when XBRL is based on IFRS

  17. Semantics in eBusiness • Are the real issue • Not the physical transport • From diskette to webService • XML is designed to be ‘eXtensible’ • That is its strong point • For B2Bi you need very explicit agreements • Technical issues – easy (20%) • Business issues – difficult (80%)

  18. Semantics in XBRL • XBRL is like eBusiness • Interactions between different organizations • Within an organization semantics are no issue • IFRS provides a strong (legal) framework for the semantics of XBRL • US/GAAP does too, but that is another discussion • IASB provides the semantics • Building your own Taxonomy • Is a nice intellectual exercise • Useful to know what your extension will be • Should never be used in practice • This leads to a semantic nightmare

  19. Issues for XBRL • Organization of/Agreement on: • Maintenance of the standard • IFRS, XBRL Intl, UN/CEFACT (TBG12) • Infrastructure for messaging • ebXML Messaging (ebMS) • Certification of Software/Messages • Many options • Codelists • UN/CEFACT, ISO

  20. eReporting is NOT eBusiness • Use XBRL only for reporting! • Using it for eBusiness = Semantic Problem • There are better standards already available • Concentrate efforts on getting XBRL in the mainstream • There is a lot to be done! • XBRL GL is already one step too far • Capturing transactions = semantic problem • Invoices in XBRL • Will really lead to confusion and are a duplication of effort

  21. Getting XBRL in the Mainstream • XBRL is in the Early Stages • Academic, Experimental • Create Awareness (Financial Press) • Show the Business benefits • Define clear implementation path • Message Implementation Guidelines • Parties that benefit, play leading role • Positive/Negative encouragements In eBusiness, we’ve been there, done that!

  22. Challenges for XBRL • ‘Crossing the Chasm’ • Maturing the standardization process • Re-use what is there…not re-invent the wheel • Establish relationships with other (eBusiness) standardization organizations: • UN/CEFACT, OASIS • Join the ‘ISO-IEC-ITU-UN/ECE MoU’ • Defining the Road-map

  23. Contact Info ebXML web site: http://www.ebXML.org UN/CEFACT web site: http://www.uncefact.org TIE XBRL web site: http://xbrl.TIEglobal.com • Corporate Website: http://www.TIEglobal.com • E-mail: Dick.Raman@TIEglobal.com

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