What are the benefits of XBRL?

Benefits of XBRL?; XBRL benefits?; XBRL filing benefits?:

Definition: eXtensible Business Reporting Language (XBRL) is a type of XML (extensible marking up language), which is a specification that is used for organizing and defining data.

XBRL uses tags to identify each piece of financial data, which then allows it to be used programmatically by an XBRL compatible program.

Benefits of XBRL (eXtensible Business Reporting Language): XBRL offers major benefits at all stages of business reporting and analysis. The benefits are seen in automation, faster, more reliable cost saving and more accurate handling of data, improved analysis and in better quality of information and decision making.