Taxonomy development and data modelling
Government agencies and large corporations collect data through a wide range of different electronic transactions. Whether those transactions are tax filings, health information, pensions data, financial or sales transactions, each calls for detailed interface and validation definitions. These definitions need to conform to accepted standards and need to be applied consistently by the agency, by filers, and by third party software developers.
The Rules and Interface Management (RIM) process guarantees maximum interoperability, standardisation and reuse of components that ensure data validity.
RIM is a managed service providing a single source for validation rules that can be re-used throughout your ICT estate, thereby providing complete consistency. It provides a central mechanism to determine the reusable, unambiguous field definitions required to ensure successful on-line submissions.
RIM generates XML and EDI interfaces, Schematron and other specialised rules in an agile, responsive and flexible manner. It ensures that validation rules are up-to-date and remain consistent across multiple filing or submissions channels.
Taxonomies released with fundamental errors or inconsistencies can damage the reputation of the publisher. Releasing a poorly understood taxonomy can lead to confusion among software vendors and filers, hindering take-up and usage. High quality taxonomies are generated when rules and patterns governing the modelling of the data are consistently applied and when the views of the filers are taken into account.
CoreFiling’s taxonomy development solution integrates custom validation and review functionality alongside flexible editing options to support taxonomy authors. It is aimed at business users, not XBRL experts.
- Taxonomy Creation, Maintenance, Enhancement
CoreFiling is a leading global provider of regulatory and business reporting software to insurance companies, banks, enterprises and regulators. We help financial institutions, enterprises, and regulators to meet the challenges of regulatory and business reporting, data modelling and unlocking the value of regulatory data.