CHICAGO, May 27, 2021 /PRNewswire/ -- Donnelley
Financial Solutions (NYSE: DFIN), a leading risk and compliance
company, today announced it will market FERC Pro, a comprehensive
energy compliance and data analytics platform, to serve energy
companies reporting to the U.S. Federal Energy Regulatory
Commission (FERC). These companies can now employ an integrated and
cost-effective approach to meet new FERC reporting requirements
quickly, accurately, and informed by data. DFIN will market
FERC Pro alongside its new ActiveDisclosure solution, which is
transforming SEC and financial reporting with seamless integration,
collaboration tools, and built-in dashboards, alongside insightful
analytics.
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In December 2021, the Federal
Energy Regulatory Commission will begin requiring electric
utilities, natural gas companies, oil pipeline companies, and
centralized service companies to file annual and quarterly reports
in a modern XBRL data format. FERC Pro's workflow enables
users to follow simple steps to create, modify, validate, file,
review, and analyze reports in the FERC's new XBRL data format,
without the need to learn XBRL. A shared web-based environment
allows collaboration with team members in real time.
"The decision to offer FERC Pro was an easy one for us," said
Craig Clay, president of global
capital markets at DFIN. "We want to provide our energy-sector
customers not just with the best solution on the market for the
FERC's new requirement to report in the XBRL format, but also the
only platform that allows energy companies to consume and analyze
regulatory data. FERC Pro's Data Hub informs energy compliance by
putting every number from any XBRL FERC form within easy
reach."
To deliver FERC Pro, DFIN has partnered with HData, which
delivers and scales RegTech solutions, and IRIS Business Services
Limited (BSE: IRIS), a leading global provider of regulatory
reporting. FERC Pro combines IRIS' simple, intuitive IRIS CARBON®
Filing Solution with a powerful Data Hub, offered by HData. The
Data Hub is the only available tool that allows energy companies to
use analytics to compare themselves to competitors and peers.
"We are excited to work with DFIN and IRIS CARBON," said Hudson Hollister, CEO of HData. "The combination
of ActiveDisclosure and our FERC platform creates a compelling
offering for energy companies. By utilizing a filing solution
in use in the United States and 38
other countries, together, we can bring a full suite of well-tested
features for U.S. energy companies reporting to the FERC."
Starting in December 2021, FERC
reporting will switch from PDF-based reporting to a smarter data
format, XBRL. FERC Pro is the first platform to offer both modern
production of FERC reports and instant consumption of the same data
to benefit energy companies, energy-sector investors, federal and
state regulators, and all other markets interested in energy
finances and operations.
About Donnelley Financial Solutions
DFIN is a leading
global risk and compliance solutions company. We provide domain
expertise, enterprise software and data analytics for every stage
of our clients' business and investment lifecycles. Markets
fluctuate, regulations evolve, technology advances, and through it
all, DFIN delivers confidence with the right solutions in moments
that matter. Learn about DFIN's end-to-end risk and compliance
solutions online at DFINsolutions.com or you can also follow us on
Twitter @DFINSolutions or on LinkedIn.
About HData
HData's mission is to digitize the
interface between the regulatory sector and the private sector.
HData's leaders apply over 50 years of experience in XBRL to make
life easier for people who comply with regulations, enforce
regulations, and use regulatory data.
About IRIS
IRIS Business Services is a global
full-service XBRL software, services, and solutions provider. IRIS
has over eighteen years of proven expertise providing structured
data RegTech solutions that help regulators and entities create,
collect, and consume business data. IRIS is a direct member of XBRL
International and XBRL US.
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SOURCE Donnelley Financial Solutions