NPF Sberbank will switch to domestic software for preparing XBRL reporting together with Syntegs

2023: XBRL Factory Transition Plan

NPF Sberbank increases the level of automation in the preparation of XBRL reporting. The XBRL Factory program will replace foreign software and will be integrated with internal processes in collaboration with Syntegs, which announced this on October 6, 2023.

The systematic tightening of the requirements of the internal architecture of NPF Sberbank and the departure of foreign vendors from the Russian market put the company before the need to find another system for working with XBRL reporting.

Five-year experience in presenting reporting to the regulator revealed headliners and outsiders in the software market for XBRL. Participation in thematic groups of the Central Bank drew our attention to Sintegs as an active participant who was aware of pressing problems and actively solved them. The passing of Sintegs software certification in the Russian jurisdiction XBRL played an important role. As a result of piloting the XBRL Factory, we liked the visualization of reporting, the possibility of collective work, quick validation and support for loading any taxonomy without modifications, - said Anton Sobolev, head of IT at NPF Sberbank JSC.

The result of the project will be the configuration of automation when preparing oversight and accounting XBRL reporting packages. The modernization will allow NPF Sberbank to reduce the number of manual operations and annual support costs.