Request for Information-Data Management Tools

OFFICE OF INTERACTIVE DISCLOSURE REQUEST FOR INFORMATION DATA MANAGEMENT TOOLS INTRODUCTION The Office of Interactive Disclosure (OID) of the U.S. Securities and Exchange Commission (SEC) is seeking information on data management tools that will assist SEC staff in their use of XBRL files. The SEC has mandated that registrants filing with the SEC must file portions of selected forms in XBRL format. OID is seeking information about software applications and tools available now or in the near future to help the Commission staff access, render, manipulate, and aggregate these filings. BACKGROUND The SEC recently mandated that operating companies file financial statements using eXtensible Business Reporting Language (XBRL), a variant of XML, beginning in June 2009 and phased in over 3 years. Prior to this, the SEC trialed an XBRL filing process for several years through the Voluntary Filer Program (VFP). During the VFP some operating companies filed financial information in XBRL format with the SEC. Based on this experience, the SEC established OID in 2007 to design, implement, and maintain this process on a formal basis, resulting in the above-discussed mandatory rules. The purpose of the disclosure program is to improve transparency in financial disclosures for market participants and regulators. Filings received in standardized, machine-readable format will make it possible to automate many manual processes thereby improving users abilities to validate, analyze, aggregate, and utilize filings. The SEC is considering ways to provide its staff with applications and tools to use and examine the structured data filings. The Commission seeks information on existing or planned software systems that will help its staff use these structured data files. SCOPE OF REQUEST FOR INFORMATION OID seeks information regarding software solutions available now or in the near future that enables end users with low degrees of technical expertise to perform some or all of the functions listed below: - Access files containing XBRL data from a file server and/or a local drive; - Prepare the data for analysis: o Extract data from the file(s); oTransform the data if necessary into the desired format or structure; and oLoad the data into a database for storage and further processing. - Define and apply business rules and criteria to test for specific conditions, search for terms, perform analysis, and generate reports. End users should be able to create and implement these criteria without relying on programmers; - Provide APIs, plug-ins, and other means for commercial off the shelf software to access and utilize the data (such as, but not limited to Excel, SAS, Business Objects, etc.); - Analyze, compare, and report on text data that may be tagged at the block or detail levels; - Export, convert, and save data in a variety of standard file formats; - Maintain user-level data security and confidentiality through role-based access controls. Please describe/explain your software solution as requested under - SUBMISSION. In addition to the functionality listed above please provide information about: o The challenges associated with company-specific XBRL extensions and ways your proposed solution addresses them. o Ability to integrate with third party products. o The built-in analytical and reporting capabilities, both pre-defined and user defined: o For user defined analyses and reports describe the process for building them and the level of technical expertise required. o Ability to add non-XBRL data into analyses and reports. o Technology requirements for your proposed software. This may include information about the platforms, networking capabilities, databases, implementation processes, configuration options, and hardware requirements. o Available end user and technical training and support services. o Licensing methods and indicative pricing for 25, 50, 100, 250, and 500 users. Include any ongoing maintenance fees. o The extent to which some/all of the functionality described above can be automated. Include information about available or compatible scripting and administration frameworks and tools. o Capabilities to alert and notify staff when triggered by specific events (e.g. file received in a folder, ratio exceeded, threshold crossed) via email or text message. The SEC welcomes responses about products that partially fulfill the functionality described above and/or that are in pre-release stages (indicate the planned release date). This RFI reflects the minimum functionality we seek. Respondents are encouraged to provide information on alternative and innovative solutions, functions, and designs, particularly if respondent thinks it would produce superior results. SUBMISSION RFI respondents must respond in the form of a Capability Statement that addresses: 1) the product's ability to fulfill the above functionality, 2) your company's profile and experience in providing these types of solutions, if any, and 3) any other relevant information that would enhance the SEC's understanding of the information submitted. Please indicate in your response which capabilities can be provided via commercial off the shelf software versus custom developed solutions. Please note that this Request for Information is in no way related to the RFP for XBRL compliance tools. Email the requested information to: carruthm@sec.gov. DISCLAIMER This RFI is issued solely for information and planning purposes and does not constitute a solicitation. In accordance with FAR 15.202(e), responses to this notice are not an offer and cannot be accepted by the SEC to form a binding contract. Responders are solely responsible for all expenses associated with responding to this RFI. All information received in response to this RFI marked proprietary will be handled accordingly. Responses to this RFI will not be returned. Respondents will not be notified of the result of the review.