"XBRL Factory" introduced in the "Moscow Stock Center"

2021: Implementation of "XBRL Factory"

On May 24, 2021, Sintegro Consulting announced the introduction of XBRL Factory at the Moscow Stock Center.

Form in one program, check in another - so Moscow Stock Center LLC worked with XBRL reporting before the project. Everything became more difficult due to the fact that sometimes the XBRL system was not updated on time, and the report had to be filled out manually. Employees spent time double-checking, contacted the technical support service, and waited for updates. Therefore, it was decided to replace the program.

We use the Sintegro OSBU program to maintain accounting, but the transition to updated standards with this decision was difficult for us. Therefore, when there was a requirement to submit reports to the Bank of Russia in the XBRL format, we did not install the "XBRL Factory," and chose another supplier. But over time, the accounting system became more convenient, and many positive reviews appeared about the XBRL Factory. Communication with technical support Sintegro generally satisfied us, and we decided that using the programs of one developer would save us from existing problems, "said Kristina Tarasova, chief accountant of Moscow Stock Center LLC.

Prior to the installation of the XBRL Factory, Sintegro specialists and customer employees agreed with the Central Bank of the Russian Federation on the rules for assembling notes related to information on the credit quality of financial assets and debt instruments (52.1,52.4-52.5).

This project was much easier than the transition to OSBU. We are pleased with the functionality of the XBRL Factory, support responds quickly to requests. We are glad that the program is developing and improving, "shared Kristina Tarasova.

Tatyana Mezentseva, project manager from Sintegro Consulting, noted that projects during the transition period are always more difficult for both sides. No one knows what the perfect program should be. Gradually, the Bank of Russia clarifies the requirements, programs are being improved. It is important that the customer always shares comments and suggestions about the operation of the system. Most of the improvements that Moscow Stock Center offers, we make to the standard supply and this increases the convenience of working in the system for all our customers.