Business · Companies · 2 hrs ago

Invector adds 60 companies to its disclosure support clients this year

Invector adds 60 companies to its disclosure support clients this year

South Korean company Invector added 60 corporate clients this year for its financial disclosure support.

Its software helps companies prepare DSD reports and XBRL data, a format that makes financial information readable by computers.

Companies often need to update both formats and check that their figures match when accounts or notes change.

Invector automates parts of that work, including converting spreadsheets, tracking revisions and checking figures, units and reporting periods.

For companies filing XBRL notes for the first time, it can set up the report structure and data categories in advance; Invector says some clients then finish the submission file in about two days after the DSD report is final.

Companies and their auditors remain responsible for checking the final disclosures, while Invector says clients can reuse XBRL structures in later filings.

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What people are saying

Bae Gyu-taeInvector chief executive
Because reports continue to be revised until just before disclosure, it is important to quickly reflect and review changes
via Donga Ilbo
We support companies so they can reuse the XBRL structure they have built for future disclosures and manage the preparation and review process internally
via Donga Ilbo