Sber Asset Management generates reports in XBRL Factory

2020: Implementation of "XBRL Factory"

Sintegro Consulting, a Russian software developer in the field of financial accounting and enterprise management, on February 16, 2021 announced the introduction of XBRL Factory in Sber Asset Management JSC.

"Our choice of" XBRL Factory "is justified by the fact that the program efficiently and clearly implemented the visualization of reports and their reconciliation. And, of course, we liked the validation: the quality of the verification and the informative protocol based on the results, "commented Sergey Bystrov, deputy general director, controller of Sber Asset Management.

In November 2020, the XBRL Center confirmed the correctness of all reporting stages in the system (forming the XBRL package, viewing reports and business validation), certifying the XBRL Factory in the highest category A1-full.

For 9 months, Sber Asset Management validated accounting financial and supervisory statistical statements in XBRL Factory. During this period, functionality made it possible to find possible errors. As a result, the management company decided to completely switch to the XBRL Factory.

"Users have offered many new useful features for the program. For example, the correctness of the forms of supervisory statistical reporting (NSO) for the Bank of Russia is now protected by additional controls that were not in taxonomy. Users automatically collect a consolidated cash flow report (UDF) from various sources, for example, the accounting base and the PYF accounting system, "said Tatyana Mezentseva, head of XBRL Sintegro Consulting.

As of February 2021, the functions added to the XBRL Factory are already available to all Sintegro customers.

"The transition to the system was comfortable. The Sintegro project team helped us solve all emerging issues, both technical and methodological. On our part, there is a desire to increase the validation speed of some reports, but in general the result of the project meets our expectations, "said Elena Troynina, chief accountant of Sber Asset Management.