Passed RAEX to XBRL during the collecting, consolidation and processing of reporting these clients

On January 14, 2020 the Diasoft company announced that the Russian rating agency "RAEX" began to use date-centrichny the XBRL format at the organization of receiving, storage and processing of the reporting received from clients within rating activity. The Diasoft company became the IT partner of this project.

Due to active promotion of XBRL in Russia (since January 1, 2018 the reporting of most of participants of financial market, except for banks, forms according to the XBRL standard) and its technological effectiveness, in RAEX decided to implement the specialized tool also and for consolidation, storage and data processing of the bank reporting. Such solution allowed the agency to create a basis for unification of processes of receiving and processing of the reporting from financial institutions.

We saw potential in the standard implemented by the regulator in Russia. It gives the chance to store indicators of the reporting of clients in the uniform, accurately structured type, allows to operate with the unified business terms of taxonomy of XBRL instead of work with separate indicators of different forms of the reporting which often duplicate each other. Potentially it considerably will simplify work of analysts who estimate huge amounts of data of a set of report forms of the organizations, and will allow to increase the accuracy of the analysis of the reporting of clients, – Andrey Venevtsev, the IT director of the RAEX agency speaks

As "heart" of the implemented solution of unification of storage and processing of the reporting of RAEX used the product XBRL Engine from Diasoft. Among the analogs presented at the market it not only has a large number of successful implementations in the large organizations and rich functional filling, but also completely meets specifications of the XBRL standard regarding formation of report forms, loading and storage of ready copies of the reporting. Besides, date-centrichnoye provides to software of XBRL Engine storage of the facts according to taxonomy of XBRL and allows to configure loading process and quality checks of data flexibly.

Most of our clients – banks, insurance companies, prof participants and NPF – send monthly thousands of files with the reporting. Our task – to organize collecting and processing of an array of diverse information. Non-credit financial institutions already prepare the reporting for the Central Bank of the Russian Federation according to the XBRL standard therefore we thought of system implementation which will process such reporting and will take from it the data necessary for our analysts. We saw an opportunity for the solution of this task, using accurately structured model described in taxonomy. Possibilities of the XBRL Engine tool from Diasoft allowed to implement everything conceived, – Andrey Venevtsev, the IT director of the RAEX agency notes

Call for a project team was development of taxonomy of XBRL for the reporting of credit institutions which is planned to release by the Bank of Russia, but terms of this release are not determined yet. The staff of Diasoft company was involved in development of taxonomy. By preparation of taxonomy the approaches and solutions put by the regulator in officially approved taxonomy were as much as possible used, and works were carried out in close cooperation with a command of the Bank of Russia.

According to the results of the project in the agency loading process, quality checks and storages of XBRL files with the obligatory reporting of all clients is built. So far more than 270,000 copies of the reporting are already loaded into a system, monthly a system processes more than 2,500 files with reporting data.