Liberty Mutual Surety not only saved time and money, but was able to redirect skilled employees to higher value work at every level when they adopted standardized XBRL data collection of corporate financial data. Historically, they had relied on manual data entry and normalization, which is the process of re-structuring as-reported data in accordance with their own set of norms so that the data for every company looks and reads the same way across records in a relational database.
Attend this 60-minute session to find out how Liberty was able to revamp their existing process to reduce costs, get higher granularity in the data they can now analyze, and increase the productivity of their analyst team. Today, by leveraging the highly structured nature of XBRL financials, with an assist by XULE, the XBRL US rules processing language, Liberty anticipates a 150% return on investment in the first year, 650% over 5 years.
Greg Davenport, Senior Vice President, Global Risks, Liberty Mutual Surety
Campbell Pryde, President and CEO, XBRL US