Financial Data Providers

Financial Information Companies and XBRL

Through the adoption of XBRL, companies in the financial information industry will be able to:

  • Obtain company financial data in a standardised and predictable form.
  • Significantly reduce costs by automating many aspects of the gathering and storage of financial data.
  • Switch efforts from routine data gathering to analysis.
  • Provide a faster, clearer, deeper and more accurate view of company financial performance.
  • Produce richer and more usable products containing XBRL data.


Companies in the industry can play an important role in encouraging the adoption of XBRL and transmitting its benefits.  A number of companies have already begun to convert their data to XBRL.  The XBRL consortium already includes a number of leading financial information providers.  Companies can play a role in promoting XBRL and put themselves in a good position to reap the benefits of its widening adoption by joining their local jurisdiction.  For more information, they should contact their jurisdictions or XBRL International.

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