IRIS Business Services Launches iConnect – An XBRL Analytics Tool For Better Business Decisions

IRIS Business Services (NSE, BSE: IRIS), India’s first listed SaaS RegTech company, has launched IRIS iConnect – an XBRL analytics tool that helps business leaders to leverage structured data for better insights and decision-making.


IRIS iConnect is available for Office 365 users via the Microsoft Store and currently provides access to publicly available data filed in XBRL and Inline XBRL under the following regulatory mandates:

  • US Securities and Exchange Commission (SEC) iXBRL mandate
  • US Federal Energy Regulatory Commission (FERC) XBRL mandate
  • US Annual Comprehensive Financial Report (ACFR) iXBRL requirement
  • European Single Electronic Format (ESEF) regulation
  • India’s Ministry of Corporate Affairs (MCA) XBRL requirement

This tool is ideal for business and financial leaders to understand regulatory data and derive actionable insights to achieve key business objectives.

With iConnect, every key stakeholder, including Investors, analysts, and key decision-makers, can analyze and compare XBRL and iXBRL data in the familiar Excel format. Companies can now use regulatory data to improve financial planning and analysis, conduct effective peer benchmarking, communicate better with stakeholders, manage risks, and improve reporting and compliance. iConnect makes structured financial data available for every stakeholder, which they can use to populate and update their financial models with ease.

“IRIS iConnect will provide compliance reporting teams as well as financial analysts with vast amounts of decision-useful information,” said Anuradha RK, Business Head at IRIS CARBON®. “By leveraging XBRL, the tool will source an endless stream of data to feed insights into the business ecosystem.”

Anuradha RK, the Business Head at IRIS CARBON®, shares that the company’s new offering, IRIS iConnect, will empower compliance reporting teams and financial analysts with an extensive pool of decision-useful information. Utilizing XBRL technology, the tool will provide an uninterrupted flow of data to deliver valuable insights into the business environment.

Product Engineering Head Ashish Singhvi, at IRIS CARBON®, said: “We are proud to present IRIS iConnect, a tool that will find that will find a large number of applications in the realm of financial reporting and analytics.”

Some of the notable features of IRIS iConnect include: 

  • Easy access via an Office 365-based add-in for Excel 
  • Easy data querying and extraction for financial analysis 
  • Compatible with Office for Windows, Mac, and Office Online and  
  • A familiar spreadsheet interface and quick data updates 

You can view more details about the IRIS iConnect analytics solution here.

About IRIS Business Services Ltd

IRIS Business Services Ltd (NSE, BSE: IRIS) is a leading regulatory compliance solutions provider with a global footprint in over 44 countries. Headquartered in Mumbai, India, with subsidiaries in the United States, Singapore, and Italy, IRIS has been the most trusted name in structured financial data collection, creation, processing, and consumption since 2005. Our vision of ‘Value Beyond Compliance’ has helped us become the trusted partner of over 1.5 million entities worldwide, including securities commissions, central banks, business registries, stock exchanges, public companies, private companies, banks, and mutual funds. Our team has been awarded several accolades across the last two decades, including the 2020-21 Financial Express (India) Best Bank Awards in the Fintech category.

Some of IRIS’ solutions include:

IRIS CARBON® – The flagship SaaS platform used by enterprises to file structured data with global regulators

IRIS iFile® – The preferred tool of over 30 regulators to collect XBRL reports from the entities they oversee

IRIS iDEAL® – Extensively used by financial institutions and fund houses for prudential and resolution reporting

IRIS GST – Indian firms’ favored solution for Goods and Services Tax compliance