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Object Management Group Seeks Industry Input for the Development of a Standard Business Report Model
New specification to enable standardized reporting
BOSTON, MA – APRIL 27, 2023 – The international technology standards organization Object Management Group® (OMG®) is soliciting industry input for the development of a Standard Business Report Model (SBRM) specification to facilitate the collection, interchange, and usage of standardized reports.
A new SBRM specification will facilitate the effectiveness of dozens of governmental Standard Business Reporting (SBR) programs worldwide, such as in the Netherlands, UK, and Australia, and promote the growth of new programs in US local, state, and federal government entities.
"Governments and regulatory authorities worldwide are rapidly increasing their demands that organizations produce standardized reports," said Mike Bennett, Technical Director for the OMG Standards Development Organization. "Financial regulations are the most visible cause of this proliferation, but demand for standardized data reports on Environment, Sustainability, and Governance (ESG) goals, energy reserves, safety, security, and other domains is also increasing."
SBRM will complement established mechanisms for the representation of structured business reports, in formats such as the eXtensible Business Reporting Language (XBRL), by:
- Applying a business modeling approach to report definition, making reports easier to develop
- Enabling business-level expression of rules to manage quality
- Facilitating the reuse of information across multiple reports
- Allowing use with industry- or enterprise-standard information models and ontologies
- Allowing direct linkage with enterprise information sources for report data
- Providing alternative formats for reports to enable access to a greater variety of analytical tooling
Individuals, organizations, regulating authorities, reporting organizations (such as companies and financial institutions), and organizations with development capabilities are encouraged to provide input. Please review the Request for Proposal (RFP) and provide recommendations, critiques, use cases, or new information to help specification submitters and OMG members evaluate submissions.
The deadline to provide input is May 25, 2023. For organizations interested in proposing a specification, the deadline to submit a Letter of Intent is June 23, 2023, and the deadline for OMG members to develop a proposed specification (separately or jointly with other submitters) is November 6, 2023. Please provide contributions or questions to [email protected] before May 25, 2023.
About OMG
The Object Management Group® (OMG®) is an international, open membership, not-for-profit technology standards consortium with representation from government, industry and academia. OMG Task Forces develop enterprise integration standards for a wide range of technologies and an even wider range of industries. OMG's modeling standards enable powerful visual design, execution and maintenance of software and other processes. Visit www.omg.org for more information.
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