Extracts: “…Despite the existence of ERP systems, XBRL offers advantages: When standardizing processes and data across company groups and reducing manual processes When redesigning the

“XBRL technology is becoming increasingly widespread on international stock exchanges and regulatory authorities. XBRL significantly increases the transparency of external accounting in terms of content

“XBRL is a language for electronic communication of financial and business data. It is an open data format that can automatically transport the data flow

Excerpt from the conclusion of the article: “XBRL is the key technology for capital market communication in the coming years. Due to developments in the

“Electronic reporting in XBRL (eXtensible Business Reporting Language) format is spreading worldwide. Following increasing mandatory use in Asia, the U.S. Securities and Exchange Commission (SEC)