DataTracks India's XBRL Software & Services Portal Goes Live with New Look and Feel

CHENNAI, India, April 24, 2012 /PRNewswire-iReach/ -- The new portal offers both cloud based XBRL self-service and fully outsourced XBRL services to convert financial statements into XBRL format for filing with Ministry of Corporate Affairs in India. The services are specifically designed to help Companies, Chartered Accountants and Company Secretaries in India meet mandatory MCA filing requirements.  The portal has been redesigned with a more intuitive user interface and appealing color scheme.

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DataTracks offers three types of services to Companies and CA/CS firms:

1. A self-service template where users can type in the numbers and text in designated blank spaces and extract a financial statement in XBRL format for a price of just Rs 200 per entity.  Many small and midsize enterprises find this service very attractive and easy to use.
2. A self-service tool where users can upload their financial statements in Microsoft Word format; invoke the taxonomy and set up XBRL tags for every line item and extract the financial statement in XBRL format for a price of Rs 500 per entity (conditions apply).  This is useful for more complex financial statements that contain non-standard items of disclosure, and
3. A full service where users upload financial statements and DataTracks converts the financial statements into XBRL format for download by users for a price of Rs 500 per page.

The self-service template and the full service are already in place.  DataTracks plans to launch the self- service tool in the near future.

Users find the web portal based self-service tools competitively priced and far easier to use than off-the-shelf software since there is no need to ensure software versions and taxonomy versions are kept up to date.  The self-service template is exceptionally easy to use.  The self-service tool requires probably 4 hours of investment in training.

The portal of DataTracks India is part of DataTracks Global, leaders worldwide in XBRL reporting.."www.DataTracks.in will help us provide a comprehensive engagement experience to our customers.  The portal will be a point of entry for users to subscribe to DataTracks India's XBRL services.  It will also be a repository from where users can download useful material on XBRL services, post their queries, and get industry updates", said Suresh Illath, Vice President, Service Delivery, DataTracks India.

About DataTracks India:  DataTracks India is part of DataTracks Global, leaders worldwide in the preparation of financial statements in XBRL and iXBRL formats for filing with regulators.  DataTracks Global prepares more than 10,000 statements a year in XBRL format for regulatory filings with SEC in United States, HMRC in the United Kingdom and MCA in India.  DataTracks Global is a unit of TaurusQuest (http://www.taurusquest.com).

Media Contact: T R Santhanakrishnan DataTracks India XBRL Software & Services, +91 (44) 4231 6368 x 101, [email protected]

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SOURCE DataTracks India XBRL Software & Services