To facilitate a standards-based governance, risk, and compliance methodology, XDEX connects records, documents and datasets to an immutable blockchain ledger. This provides a clear, easy-to-manage path to reporting governance, risk, and compliance data that fits seamlessly with any standards-based, regulatory framework in any jurisdiction.
XDEX uses a metadata tagging model in which any information document, record, or data necessary for reporting terms can be authoritatively defined. Those terms can then be used to uniquely represent the contents of any record like financial statements or other kinds of compliance, performance and business reports without necessarily exposing the full contents of the information to anyone other than explicitly authorized users.
XDEX allows information move between organizations rapidly, accurately and digitally.
As a single source of truth with a record originator identification and chain of custody of data tracking, XDEX makes reporting more accurate and more efficient. It allows unique tags to be associated with reported facts, allowing:
- people publishing reports to do so with confidence that the information contained in them can be consumed and analyzed accurately
- people consuming data to test it against a set of business and logical rules, in order to capture and avoid mistakes at their source
- people using the information to do so in the way that best suits their needs, including by using different languages, alternative currencies and in their preferred style
- people consuming the information to do so confident that the data provided to them conforms to a set of sophisticated pre-defined definitions
Comprehensive definitions and accurate data tags allow the preparation, validation, publication, exchange, consumption; and analysis of business information of all kinds.
Information in XDEX is interchangeable between different information systems in entirely different organizations. This allows for the exchange of business information across a reporting chain.
People that want to report information, share information, publish performance information and allow straight through information processing are empowered by this approach to standardized information governance, risk, and compliance.
In addition to allowing the exchange of summary business reports like financial statements, and risk and performance statements, etc… XDEX information model has the capability to allow the tagging of similar types of entities and objects across the blockchain ledger, which can also be aggregated into standardized reports at a regulatory level.
These transactional capabilities allow system-independent exchange and analysis of significant quantities of supporting data and can be the key to transforming business processes, workflows, and reporting.