UPDATE TODAY OUR STAKEHOLDERS WHY XBRL TODAY MAKING
UPDATE
TODAY OUR STAKEHOLDERS WHY XBRL TODAY? MAKING OUR MISSION EXPLICIT THREE GOALS FOR 2014
WHO ARE OUR KEY STAKEHOLDERS? ANALYSTS THE ENTERPRISE REGULATORS
WHO ARE OUR KEY STAKEHOLDERS? ✗ANALYSTS ✗THE ENTERPRISE ✓REGULATORS
WE ARE… • An active, determined, global coalition of people focused on making performance, financial, compliance and regulatory reporting better for our communities. • Our global community is diverse. • But we need to focus on our key stakeholders: our regulators.
TODAY OUR STAKEHOLDERS WHY XBRL TODAY? MAKING OUR MISSION EXPLICIT THREE GOALS FOR 2014
KEY USP#1
KEY USP#2 CLEAR DEFINITIONS BUILT INTO TAXONOMIES + PUBLIC BUSINESS RULES BUILT INTO TAXONOMIES + EXTENSIBILITY MULTIDIMENSIONAL DEFINITIONS AND TRANSPORT +
KEY USP#3
XBRL ≠ XML! XBRL ≠ EXCEL! ✗ ✓
CONCEPTUAL MODEL OBLIGATIONS MODEL FOR REGULATION (CRD IV/SOL II) ABSTRACTION METHOD (DPM) FORMALLY PROVABLE BUSINESS RULES (XBRL)
BUT NOTE! Asymmetric benefit Key USP: Testable & Provable Sustained growth Funding Conundrum
TODAY OUR STAKEHOLDERS WHY XBRL TODAY? MAKING OUR MISSION EXPLICIT THREE GOALS FOR 2014
N ! R E T T E B G N I H T O
WHY?
BECAUSE XBRL EXISTS TO: IMPROVE REPORTING ∴ IMPROVE DECISION MAKING ∴ IMPROVE RESOURCE ALLOCATION
IMPROVE RESOURCE ALLOCATION
A PUBLIC GOOD
<> PUBLIC GOOD
PUBLIC GOOD
TODAY OUR STAKEHOLDERS WHY XBRL TODAY? MAKING OUR MISSION EXPLICIT THREE GOALS FOR 2014
THREE INITIATIVES • ENHANCE AND ENERGIZE OUR SPECIFICATIONS WORK • RECAST OUR COMMUNICATIONS AND BRAND • DEVELOP PLANS FOR FUTURE BUSINESS MODEL
SPECS • We need new energy and new focus on our Specs. • We need to be able to clearly communicate our goals and the pathway to them. • We need to focus on quality and outcomes. • We need the community to work together.
• • SPECS ED S S A R B We need new energy and new focus on E our S D T Specs. L N O E We need to be able to clearly communicate our H M E goals and the pathway to them. E K R A I We need U to focus on quality and outcomes. T S Q We need the community to work together. E O R T R E S O L C
COMMUNICATIONS • XII’s purpose and brand are misunderstood. Make the implied, explicit. • We need: – Clear messaging. – Supportive, educational materials filled with real examples. – Data-backed not Hype or Hope. – (And a vastly better website. ahem)
NEW BUSINESS MODEL • Two key questions: – Funding – Community • Stay tuned!
QUESTIONS?
- Slides: 29