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Touted as the next new digital language for the global information ecosystem, XBRL or eXensible Business Reporting Language is set to transform today's financial communications and exchange.
In the latest CIO 100 Index for 2009, Ecquaria's customer, the Accounting and Corporate Regulatory Authority (ACRA) of Singapore is recognized for introducing its creative and value-adding IT system, BixFinx (Business Financials in XBRL), an online service for the business entities to prepare financial statements for annual returns submission.
Prior to the launch of BixFinx in year 2007, business entities had to submit scanned hard copy of financial statements to ACRA. The deployment of this new, common reporting format put an end to the tedious and error-prone system of reporting.
BixFinx is developed and implemented by Ecquaria which puts ACRA as one of the leading government regulatory bodies on the world map towards a new era of transparent and pro-enterprise business reporting in a dynamic global business environment.
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