Object Management Group Invites Industry Input for a New Specification: Standard Business Report Model
Summary
SBRM will complement existing mechanisms for representing structured data while providing interoperability with current business report definitions and submissions. These reports traditionally follow standard forms or templates defined by each regulator, often requiring error-prone and time-consuming manual data entry. "Netherlands and Australia have already started leading the way on standard reporting that has reduced filing and processing costs by billions of dollars," said Dr. Jason McC. Every country in the world, not just the U.S., is facing similar needs.” Some of the requirements for SBRM are to: Both members and non-members of OMG may show their interest in participating in the process by submitting a Letter of Intent by November 9, 2020. About OMG Object Management Group® (OMG®) is an international, open membership, not-for-profit technology standards consortium with representation from government, industry and academia.