Standard XML editors are not sufficient for working with XBRL because they cannot process the normalization and semantic properties that XBRL adds to the XML specification. The added XBRL functionality in XMLSpy makes it the only fully featured XML editor on the market with the capacity to understand the multiple relations and content validation that makes XBRL such a powerful language for financial reporting.
XMLSpy supports validation of documents created based on XBRL 2.1 as well as XBRL Dimensions 1.0, Formula 1.0, and Table Linkbase 1.0. Organizations are increasing turning to XBRL Dimensions and XBRL Formula to extend the functionality provided by XBRL 2.1, as this allows them to view and analyze the data in new and productive ways, without compromising interoperability and backwards compatibility.
The Altova XBRL validator in XMLSpy and RaptorXML Server supports the full breadth of XBRL and regulatory standards, including:
The XBRL validator in XMLSpy is powered by the Altova RaptorXML validation engine, which was written from the ground up to provide the closest possible standards conformance coupled with fast validation speeds. However, the validation speeds provided are still determined by the number of cores available on the developer's machine. RaptorXML+XBRL Server, on the other hand, benefits from the substantial increase in processing power afforded by multi-CPU, multi-core servers, which allow it to deliver hyper-performance through increased throughput and efficient memory utilization.
To get the best of both worlds, XMLSpy users can harness these advantages by utilizing RaptorXML Server(s) installed on the same network for performing validation jobs. This makes validation of large and complex XBRL documents faster than was ever possible before – directly inside XMLSpy.
Integration with RaptorXML+XBRL Server also gives XMLSpy developers the ability to validate EDGAR documents prior to electronic submission.
EDGAR (Electronic Data Gathering, Analysis, and Retrieval) is a system that performs automated collection, validation, and indexing of financial statements filed by companies to the United States SEC. The ability to perform validation prior to submitting EDGAR files to the SEC is a huge advantage, helping to save time and reduce errors.
It’s easy to select this option from the XMLSpy toolbar for XBRL validation.
Please note: RaptorXML+XBRL Server is required for EDGAR file validation in XMLSpy.