Overview
IRIS Business Services Limited, incorporated in 2000, is a pioneer in the global XBRL compliance space.
The company’s software products and services are used across 50 countries in 4 continents by over 1.5 million filing entities.
IRIS’ global clientele includes central banks, capital market regulators, business registries, stock exchanges,and top accounting firms and enterprises.
These credentials, and an impeccable service track record, make IRIS the most trusted name in XBRL implementations and compliance reporting worldwide.
IRIS is headquartered in Mumbai, India, with international offices in the United States (IRIS Business Services LLC), Singapore (IRIS Business Services (Asia) Pte Ltd), Italy (Atanou SRL), and India (IRIS Logix Solutions Private Ltd).
IRIS’ presence in the United States dates to 2005, when the company bagged the EDGAR Online contract to convert historical filings of US companies into XBRL.
Then there were other milestones.
- In 2009, IRIS won the XBRL conversion mandate for US SEC filings.
- In 2011 began the development of IRIS CARBON®, an enterprise SaaS product that has gone on to play a huge role in XBRL and iXBRL filings across the US, UK, South Africa, and Europe. IRIS CARBON®picked its earliest US customers in 2016.
- In 2017, IRIS Business Services Limitedwas listed on the SME platform of BSE (formerly Bombay Stock Exchange).
And then, there were awards…
- In 2022, IRIS Business Services was recognized as India’s best FinTech-RegTech provider at the Financial Express Best Banks Awards.
- The same year, IRIS was also selected as the ‘Best Tax Technology Service Provider 2022’ in category National Taxation Awards – at the prestigious TIOL Awards.
- IRIS CARBON® solution won ‘The Most Agile/Responsive SaaS Solution of the Year’ award at the 2022 SaaSAwards by Awarding and Consultancy International.
IRIS is a direct member of XBRL International and a member XBRL jurisdictions such as the US, Italy, South Africa, and India. The company bringsmultidisciplinary skills in XBRL as well as technology to provide a complete range of products and services across the XBRL supply chain. Among the company’s employee ranks are taxonomy experts, software engineers, business analysts and accountants.
IRIS segments its software products as Collect, Create, and Consume.
Collect is the company’s supervisory technology business, with IRIS iFile®as the flagship product. In this segment,IRIS works with regulators to help them create reporting platformsto collect data in XBRL or other formats from those they regulate. Clients of IRIS iFile® include the Reserve Bank of India, India’s BSE and National Stock Exchange, South Africa’s Johannesburg Stock Exchange, and Saudi Arabia’s Tadawul Stock Exchange.
Createis the company’s regulatory technology business where IRIS CARBON®is the main offering, along withother products IRIS iDEAL® and IRISGST. This business serves enterprises’ need to collaborate to prepare their regulatory filings using a structured data format.
The range of entities that opt for these enterprise software and SaaS solutions are public listed companies, mutual funds and foreign private issuers seeking to meet the XBRL mandates of various regulators.
IRIS CARBON®is helping companies in the US comply with the US SEC’s XBRL and iXBRL mandates and is doing its groundwork ahead of the Federal Energy Regulatory Commission’sXBRL mandate.
In the EU, IRIS CARBON® is helping a growing list of clients to prepare iXBRL annual reports to comply with ESMA’s European Single Electronic Format mandate.
IRIS iDEAL® has clients in India, Mauritius, and Turkey. IRISGST has an impressive list of Indian clients to show.
Consumeis the company’s data and analytics division which offers SaaS and DaaS solutions. The consume division works in tandem with the collect and create divisions to both strengthen their competitive edge as well as draw sustenance from them.
For more information about IRIS Business Services Ltd, visit the company website – http://www.irisbusiness.com/.