Transcript Connecting with XBRL

Democratization of Financial and
Business Reporting Data
8th XBRL International Conference
Seattle - November 4, 2003
Presented by:
Susan Strausberg
CEO & President – EDGAR Online, Inc
[email protected]
Today’s Agenda
1
About the SEC EDGAR System
2
About EDGAR Online
3 Drivers for companies to provide financial
information in an open standard
4 Future Trends
5
Conclusion
About the EDGAR System
“Electronic Data Gathering, Analysis, and Retrieval”
 Purpose: To facilitate the filing and review of
mandated public company disclosures
 12 years from inception to completion
 May 1996 ALL US public companies required to
file the majority of their disclosures electronically
 Public website provides access to EDGAR data
 Sarbanes-Oxley Act of 2002 accelerates time
frame and types of disclosures to be filed
electronically
Financial Information Life Cycle
Capital Raising
Periodic & Event
Reporting
Ownership
(compliance)
IPO’s
S-1
SB
Secondaries
S-2
S-3
Annuals/Quarterlies
10-K, 10-Q, 8-K
Def-14A
Institutional +
Mutual Fund
Holdings
13-F, N30-D
Insider
Trades
144
3, 4, 5
The Scope







12,000 public companies
2,200 institutions
8,000 mutual funds
60,000 insiders
2+ million documents
10,000 new documents/day
1,000,000 pages/day
Common SEC Filings
Filing Category
Filings Included in Category
Form Types
Annual Reports*
10-K, 10-KSB (Small Business)
Quarterly Reports*
10-Q, 6-K, 10QSB (Small Business)
IPO Filings*
S-1, SB-1, SB-2, F-1 (Foreign) 424B
Insider Trading*
3, 4, 5, 144
Ownership*
13-F, 13-G, 13 D
Mergers & Acquisition*
S-4, 14D-1 14D-9
Secondary Stock Offerings*
S-2, F-2, S-3, F-3
Mutual Fund Filings*
N-1A, N30D, 497
Proxies and Information Statements*
DEF-14A
Special Events - (Reg FD)
8-K, 10-C, 6-K
* Contain financial reports and other extractable financial data
Today’s Agenda
1
About the SEC EDGAR System
2
About EDGAR Online
3 Drivers for companies to provide financial
information in an open standard
4 Future Trends
5
Conclusion
EDGAR Online Corporate Overview
The trusted Internet source of timely and cost-effective business, financial
and competitive information contained in SEC filings
 Founded 1995, IPO in 1999
 NASDAQ: EDGR
 Offices:
 Headquarters: Norwalk, CT
 Corporate Sales Office: New York, NY
 Technology Center: Rockville, MD




Over 200 distribution channels and over one million registered users
Major Markets: financial services, accounting, legal, corporate
Revenue ’99 $2M
$16M in 2002, Gross Margins > 80%
Founding Member XBRL Consortium
EDGAR Online
Timeline
1995-1996
•Subscriptions
•Internet
delivery
•Real Time
•Alerts
•Displayed in
ASCII
1997
•Data
Extraction
•Strategic
relationships
1998
1999
•Full text •APIs
searching •Displays in
Excel, RTF,
HTML
2000-2003
•Professional
services
•Customized
data
•FDIC/XBRL
Again - The Scope







12,000 public companies
2,200 institutions
8,000 mutual funds
60,000 insiders
2+ million documents
10,000 new documents/day
1,000,000 pages/day
Technology Enabled Content
SEC Data
Data Mining Technology
Internet Delivery
Extracted Financial Data
EDGAR Online People
Research tool that mines SEC filings and extracts proper names found within those
documents. Useful in performing due diligence and prospecting.
Users and the Information They Seek
Users
SEC Information
Financial Executives
Accounting research, credit risk review, benchmarking,
compensation, M&A activities
Corporate Finance
Company research, shareholder agreements, M&A
details, joint venture and investor agreements, leads/
financing requirements
Lawyers
Corporate legal proceeding, judgments, risk factors
Accountants
Financials
Analysts
Trend analysis, company research, benchmarking
Compliance Officers
Financials, benchmarking; legal proceedings
Today’s Agenda
1
About the SEC EDGAR System
2
About EDGAR Online
3 Drivers for companies to provide financial
information in an open standard
4 Future Trends
5
Conclusion
Future Electronic Disclosures
 Other Federal and State Regulatory Agencies: e.g. FDIC
 Continued International Expansion :
 SEDAR (Canada)
 EDINET (Japan)
 PRV (Sweden)
 Enhanced Filings – Technology and Processes
 Insider File Direct (Forms 4,5)
 Multimedia
 XBRL
 Real Time Data Products
 Analytical Software
Today’s Agenda
1
About the SEC EDGAR System
2
About EDGAR Online
3 Drivers for companies to provide financial
information in an open standard
4
5
Conclusion
Future Trends
Future Trends
Data Publishing, Analysis
and Reporting
Traditional Enterprise-centric
Data Provider
Audience
One-click information consumer
Power user that takes training, (or online
reader that tackles HTML tables or PDFs)
Type of Data
Delivered
Self-serve, on-demand, within interactive
(OLAP) analysis and personalized
reporting functionality
Preconfigured reports with static charts and
graphs
Type of Data
Delivery
Distributed widely across the Internet
(Web Services)
Proprietary systems and internal enterprise
systems/intranets
Data Volume
Million-record files published online from
inexpensive Web servers
Terabytes protected by complex and
expensive mainframes
Scope of Usage
Anyone with a browser and connection
to the Internet
Select enterprise elites
Drivers for companies to provide financial
information in an open standard :
 Reducing the cost of and time to distribute
information
 Communicating with previously unidentified
consumers of information
 Supplementing traditional disclosure practices
 Increasing the amount and type of data disclosed
 Improving access to potential investors for small
companies.
 New regulations
Today’s Agenda
1
About the SEC EDGAR System
2
About EDGAR Online
3 Drivers for companies to provide financial
information in an open standard
4
5
Conclusion
Future Trends
Conclusion
Susan Strausberg
CEO & President – EDGAR Online, Inc
(e) [email protected]