NewswireToday - /newswire/ - Santa Clara, CA, United States, 04/06/2009 - NeoClarus Inc., a leading provider of XBRL-based financial reporting software solutions announces iFile version 2.0 to support the following business capabilities.

Pre-Defined industry based maps for improving financial reporting productivity
iFile’s intelligent self-learning engine continuously upgrades the predefined library which reduces the financial report mapping cycle time. Verticalized predefined libraries are available for all approved taxonomies. This differentiated functionality enables Customers/Partners from all industry verticals to realize considerable productivity improvements in their financial reporting process.

Optimized application performance to handle large XBRL taxonomies
This iFile release supports a wide range of industry specific taxonomies published by XBRL.org and ICI.org on a periodic basis for the Commercial, Industrial, Banking, Real Estate, Insurance and mutual funds(Risk/Return Summary) industries among others. iFile 2.0 has been optimized to handle these complex and extensive taxonomies. This helps improve efficiency and productivity during the tagging process by providing faster search results which are also context-based. Financial domain experts can leverage this feature to focus on the appropriate search results.

Embedded Excel Support for imported data integrity
iFile now supports data embedded in MS Word as embedded excels which enables us to serve an even broader and more complex range of source financial documents. Manual intervention is almost eliminated during data import that ensures integrity between source and target financial statements.

Enhanced mapping comments tracking Functionality for better collaboration
As XBRL-based financial reporting adoption has gained momentum based on the recent SEC mandate, enterprises are setting up teams to coordinate their XBRL efforts. Collaboration among Auditors, financial teams and Filers is critical for a successful XBRL implementation. iFile 2.0 enables users to include detailed audit trails of their actions by using the expanded notes functionality. Financial elements that are tagged with explanations of the criteria used for each mapping can be retrieved in chronological order enabling collaboration among the various stakeholders.

Enhanced domain specific user experience and interactive help
The iFile user experience has been designed keeping in mind ease of use. Features such as more intuitive industry specific icons and labels make it easier for financial domain experts to use the application. Interactive help for a quick summary of possible actions users can perform minimizes the learning curve for new users.

About NeoClarus
NeoClarus (neoclarus.com) is a provider of eXtensible Business Reporting Language (XBRL) based software solutions to Enterprises, Auditors, Financial Printers and Data Aggregators worldwide. NeoClarus iFile is an easy-to-use, web-based software application used by financial printers and accounting professionals to file financial statements in XBRL. Besides iFile, NeoClarus also offers the iAudit solution that automates the validation of XBRL documents and iParser solution to extract relevant data from XBRL instance documents for data dissemination and analysis. NeoClarus is headquartered in Santa Clara, California and has offices in India.

Agency / Source: NeoClarus, Inc.

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