No Decisions Tour

Fear of making the wrong decision is one of the main barriers to adoption of data standards, changing polices and procedures for transitioning to digital or implementing specific data sets.

Fear not, the major decisions have already been made.  

You don’t have to decide on what data standard to use for financial reporting. XBRL is already the federally recognized international data standard for financial reporting. There is no other data standard for financial reporting that is better, more adopted or more sustainable.

You don’t get to decide if construction is going digital, it already is. Federal and federally funded projects are mandated to transition to digital and the federal XBRL reporting standard is the best data standard for financial reporting on construction projects.

You don’t get to decide if finance, insurance and surety markets are going to transition to digital. They are already looking for digital financial data for a wide range of products and services and XBRL is the best option because it is not proprietary, free to use and already enables stakeholders from across market segments to be “plug and play”.

Your only decision is to decide to educate yourself and attend trade association conferences that are providing roadmaps and guidance so you can engage in digital ecosystems before you start losing opportunities.

Not deciding to engage is a decision that will cost you.