CaseWare International Inc., a provider of audit and reporting analysis products, has unveiled its first Web-based online analysis tool — CaseWare Benchmarking — an application that allows a firm and its clients to view the financial performance of an industry in a given period.
Built on an XBRL server and on two interfaces, Web Client and CaseWare Scenarios, the goal of Benchmarking is to make the site community-oriented and to share data within the accounting industry, according to CaseWare International Inc., president Dwight Wainman.
Once information is on the server, numbers are averaged into groups, and only the aggregate values for the groups are displayed to users.
With the Web Client interface, reports on income statements, balance sheets and cash flow can be viewed. Benchmarking maintains industry averages for more than 70 performance indicators and is designed to integrate with CaseWare Working Papers.
“We feel CPAs have the best data for private companies,” said Wainman, who is also a CPA. “Why should we have to go to third parties? We have the latest and the best data. We wanted to provide an environment with secure data. We’re just a conduit; all we’re doing is providing the servers.”
