Invactor Launches Excel-Based XBRL Disclosure Solution "Invactor for XBRL"

On June 5, fintech and accounting automation startup Invactor (Toggle Campus) announced the launch of "Invactor for XBRL," a solution designed to dramatically improve the XBRL (eXtensible Business Reporting Language) disclosure environment for both listed and unlisted companies.

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This solution was designed based on a thorough analysis of the challenges faced by accounting and disclosure teams in their daily workflows. As the only Excel-based solution of its kind, it allows users to conveniently and accurately prepare disclosures using Excel.

With Invactor's validation system, users can check for all errors directly within Excel, eliminating the need to switch back and forth between Excel and an editor. The document only needs to be transferred to the editor once. Invactor's artificial intelligence (AI) engine has achieved an average tagging accuracy rate of over 97% in disclosure documents containing more than 1,000 cells.

Another key feature is that the solution is designed as a "guided software" that provides users with direction to create accurate and high-quality disclosure materials. The Invactor XBRL navigation function, equipped with best practices for annotation tagging and electronic document submission guidelines, points out incorrect tags or suggests more appropriate ones.

Tasks that would otherwise require outsourcing at an annual cost of tens of millions of won can now be handled more efficiently. Disclosure managers can directly oversee the entire process from drafting to review and submission using Invactor, only seeking external review when necessary.

Bae Gyutae, CEO of Invactor, stated, "Invactor is tailored to the XBRL disclosure environment while preserving the familiarity of Excel for users and maintaining the existing workflow. Our goal was to deliver value beyond mere convenience as we transition disclosure tasks to AI."

Meanwhile, Invactor has been recognized for its outstanding AI technology and growth potential, successfully attracting continuous investment from leading technology investors. The company was also selected for TIPS, a private investment-led technology startup support program overseen by the Ministry of SMEs and Startups.

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