True North Data Platform – Beacon application

Filers waste significant time and resources repeatedly correcting submissions to meet regulatory reporting requirements. Beacon provides unprecedented accuracy in inspecting business reporting documents, allowing filers to identify and correct XBRL errors quickly and accurately before anything is submitted.

Beacon makes it easy and convenient to view filings as the regulator sees them by applying the same XBRL technical standards that are used by the regulator for specific filing requirements. Filings are viewed according to the presentation specified by the regulator.

Beacon helps prepare accurate and consistent filings by providing several layers of validation from compliance with technical standards to regulator-specified business rules – including filing manual rules – and allows the integration of customer-specific custom rules. The resulting error-free business reporting reduces the risk of costly and reputationally damaging rejections by the regulator.

Beacon provides a single document store, shared by all applications and APIs to integrate with workflow and to provide a seamless flow between applications. Filings can be augmented with metadata, such as comments, and accessed by multiple users for convenient collaboration, in accordance with the security policy in place.

Beacon is kept up to date with new reporting requirements meaning users don’t have to worry about software updates or reconfiguration. Older taxonomy versions can still be accessed for resubmissions.