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Chennai, 01 Dec 2012
DataTracks India has been recently been recognized and included in the MCA XBRL Software Vendor List published by Ministry of Corporate Affairs (MCA), Government of India. This list will help representatives from various companies identify software vendors for their XBRL conversion services. The vendor list is available at: http://mca.gov.in/XBRL/software_vendor.html
The list of vendors published by the MCA last year had included all XBRL vendors who intended to register with the MCA. However, for the current year, MCA has published the list of solution providers who use their own software for XBRL conversion, and have a validated sample instance document available online. This is on par with the MCA’s objective to ensure that only those solution providers who can assure high quality XBRL output are published in the list of XBRL vendors.
DataTracks provides XBRL solutions using its software developed in-house. The software has been designed by DataTracks’ professionals with accounting as well as XBRL technology expertise; hence it is well-equipped to meet the regulatory compliance requirements laid down by the MCA. “It’s good to note that DataTracks features in the vendor list published by the MCA. We are glad that MCA has taken the right step in ensuring that only qualified vendors have been shortlisted and published in the list of XBRL vendors this year” said Shyam Sekar, Sr. Vice President, Business Development, DataTracks.
DataTracks offers three optionsof XBRL services to companies looking for XBRL conversion of their financial reports. The Template service is targeted towards companies with simple financial statements with standard notes on accounts. This is a pre-tagged and validated XBRL template with placeholders for financial data. Users enter data against the placeholders, save, and download XBRL output. The Self-service option is suited for companies looking to do the XBRL conversion in-house. This is a web-based software tool for XBRL conversion. The Full Service option is an outsourced service, where companies upload their financial statements in the DataTracks portal, and DataTracks’professionals convert the statements into XBRL format for delivery to customers. All these services are available through an easy-to-use e-commerce portal at www.datatracks.in.
About DataTracks India:DataTracks India is owned by DataTracks Services Limited (www.datatracksglobal.com), leaders worldwide in preparation of financial statements in XBRL format for filing with regulators. DataTracks has prepared more than 60,000 statements (in ASCII, HTML and the more recent XBRL format) for filing with Securities Exchange Commission in the United States in the last five years..
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