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CIO Executive Council

A Peer-Advisory Service and Professional Association for CIOs

Webcast: In the Google Apps Cloud: How to Achieve Your Business Objectives

Dec 3rd, '09, 1 - 2 pm US/Eastern (GMT-5)

Join Council member Brent Hoag, Director, Global IT, at JohnsonDiversey, as he discusses the adoption of Google Apps which has helped meet four corporate goals; sustainability, simplification, increased employee productivity and global collaboration.

Webcast: Collaboration Initiatives: Benchmarks & Best Practices

Dec 15th, '09, 4 - 5 pm US/Eastern (GMT-5)

Join Council members Ruth Thorpe, VP & CIO at the U.S. Pharmaceutical Operations of Sanofi-Aventis, and Gary Kuyper, CIO at Bethany Christian Services, as they speak about their collaboration initiatives and experiences in how and why they chose the social networking and collaboration tools they are using and their business goals for collaboration, and facing culture change challenges.

Data Overview: Collaboration Initiatives Field Guide: Benchmarks & Best Practices

This appendix to the Council Field Guide provides an analysis which discusses benchmarks for collaboration IT implementation costs, adoption rates and payoffs. The overview identifies top IT and business goals and satisfaction rates for collaboration initiatives as well as best practices and lessons learned for implementing collaboration IT.

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SEC XBRL Mandate: What You Don't Know Will Hurt You

Large companies must comply with the new XBRL mandate for year-end financial reports beginning this year. Don't know what it is? The Extensible Business Reporting Language reduces internal manual processes for operations, management and financial reporting. And it reduces costs.

Complying With a Regulatory Mandate

Every public company is probably already hearing about XBRL due to the recently proposed rule by the U.S. Securities and Exchange Commission (SEC) that would mandate the use of XBRL for company reports to the capital markets. This proposal impacts the largest 500 companies for their 2008 year-end reports and all other public companies in the following two years. So CIOs and CFOs who are not familiar with XBRL will need to be soon.

However, XBRL goes beyond being a new, more useful SEC filing format. It is a key tool for reducing or eliminating the wide range of internal manual processes necessary for operations, management—and, yes, financial reporting. A few leading companies are already benefiting from reduced costs and reporting risk related to standardization and simplification with XBRL—what can it mean for your organization?

In the short term, the application of XBRL to company financial statements may not be a priority for many corporate CIOs due to the existing highly manual reporting and control processes. To put it simply: If company reports were cars, reporting processes would be classified in a "Pre-Henry Ford" era, where each report is manually assembled by highly skilled craftsmen.

Leverage Historical Examples

Manually applying tags at the very end of the supply chain is exactly what happened when bar codes (i.e., UPC) were first introduced. Grocery store managers quickly realized the benefits of standardization and pushed for earlier application in supply chain processes.

CIOs can wait for the call from the CFOs to apply XBRL earlier in the supply chain or they can proactively engage their CFOs. The opportunity exists to realize significant value by leveraging XBRL to gain control of and streamline internal processes that drive data aggregation from source applications to end reporting, and achieve compliance with the SEC mandate along the way. Here are a few examples: