Oftentimes the biggest impediment to switching XBRL/iXBRL providers is that first project on the new system. Many service providers (Transform included) offer update functionality, which allows users to use one project that has already been tagged as a template for a new project. Quarter 3’s Form 10-Q could be used as the template for the fiscal year’s 10-K. Once you finish one project, you will most likely not have to do a project from scratch again on that system, which makes switching providers and having to start from scratch again a daunting task. Luckily with Transform, this is not a problem you will ever have to worry about.
With our Project Recreate functionality users can import the tagging of a previously filed iXBRL or XBRL project and our software will automatically recreate the tagged project on our system. So long as there is a previous filing, you never have to tag from beginning to end again. Once imported all you have to do is add in a few basics like calculations or certain overrides and then the project is ready for review. The functionality is also especially useful when tagging combined filings such as a Form S-1 since you are able to import the tagging of multiple filings into a single project.
Interested in switching providers? Contact us to schedule a demo of our Project Recreate functionality or for any of your SEC filing needs.