Iris Business Services Ltd. (IRIS)

Overview

IRIS Business Services Limited is a prominent player in the regulatory technology solutions industry, focusing on compliance, data, and analytics. Established in 2000 and headquartered in Vashi, India, the company operates not only in its home country but also expands its reach across the globe, including regions such as the Middle East, the Asia Pacific, Africa, the United States, Europe, and the United Kingdom. IRIS Business Services Limited caters to a diverse clientele, offering its services to regulators like central banks, business registries, capital market regulators, stock exchanges, as well as corporates, banks, and mutual funds. The company differentiates its offerings through three primary segments: Collect, Create, and Consume, ensuring a comprehensive suite of solutions tailored to meet the evolving needs of compliance and regulatory reporting.

Products and Services

• IRIS iDEAL: A regulatory reporting solution catering primarily to banks, credit institutions, and investment firms for seamless reporting processes.
• IRIS CARBON: Specializes in XBRL/iXBRL solutions, aiding organizations in creating financial and non-financial reports with accuracy and efficiency.
• IRIS GST Software: Offers a comprehensive GST filing solution equipped with an ERP connector, reconciliation module, vendor management, and a suite of informative MIS and reports.
• IRIS IRP: A connection solution designed for taxpayers to streamline their tax-related processes and compliance requirements.
• IRIS E-Invoicing: Provides an e-invoicing solution that integrates GST compliance and reconciliation, simplifying the invoicing processes for businesses.
• IRIS Zircon: Delivers APIs for GST, Eway bill, and e-invoicing, tailored for enterprises and partners seeking to enhance their financial operations.
• IRI LMS: A DT and IDT litigation management tool designed to simplify GST audits and litigations, offering enterprises a strategic advantage in managing legal complexities.
• IRIS iFILE: An XBRL-based reporting platform that supports both XBRL and non-XBRL data formats, providing a versatile tool for regulatory reporting to regulators.
• IRIS iConnect: An XBRL analytics tool that empowers financial professionals to extract valuable insights from financial data reported in XBRL format.
• IRIS Credixo: A product developed for banks and fintech companies to construct credit analysis models based on public and consented financial data of companies.
• IRIS Peridot: An app designed for Indian taxpayers to monitor their own compliance status and that of their vendors, ensuring transparency and accountability in tax compliance.

In addition to these products, IRIS Business Services Limited provides workflow-based e-filing software, tax technology solutions, taxonomy development and testing, as well as consulting and training services to further support and educate their clientele on best practices in regulatory compliance and reporting.