Sintegs helped Sogaz-Life automate reporting using the XBRL Factory

2024: Introduction of the "XBRL Factory"

Syntegs helped Sogaz-Life automate reporting using the XBRL Factory. Sintegro Consulting (Sintegs) announced this on June 25, 2024.

The main requirement for software was efficiency in all directions: from filling in data, to the implementation of new taxonomies.

To make the program work as quickly and efficiently as possible, the project team implemented an automatic download of data from the accounting system and the 710-P Indicator, the Syntegs program for calculating and predicting the financial stability of the insurer. In total, more than 100 reports and notes were configured on the project. One of the main advantages of using the Factory in the company is the ability to work in the program for several users with different forms at once. Together, this made it possible to speed up the process of preparing and submitting reports to the Central Bank of the Russian Federation.

With a high degree of automation of reporting for SOGAZ-LIFE, it is important that the program settings always meet the current requirements of the Bank of Russia. To do this, Syntegs constantly implements general and personal improvements to the program. In addition, the Factory annually undergoes independent certification for each new taxonomy, confirming the correctness of reporting under the new rules.

The transition to the XBRL Factory made it possible to close the tasks for the formation and validation of the entire reporting package, making it more convenient to work with data and speeding up workflows. During the cooperation, Syntegs began to quickly implement new control ratios and new taxonomies. One of the important qualities of the company's employees is prompt and friendly assistance with any questions, "said Irina Bychkova, head of the Accounting Department of SK SOGAZ-LIFE LLC.