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About

The company was incorporated under the provisions of Companies Act, 1956 as ‘IRISBusiness.com (India) Private Limited’ in Mumbai vide Certificate of Incorporation issued by Registrar of Companies, Mumbai on October 3, 2000. It was converted into a public limited company pursuant to shareholders resolution passed at Extra-ordinary General Meeting of the Company held on May 13, 2010 and the name of the company was changed to IRIS Business Services Limited and a fresh certificate of incorporation consequent upon Conversion of Private Company to Public Limited dated June 29, 2010 was issued by Registrar of Companies, Maharashtra, Mumbai.

Business area of the Company:

The company is a global provider of software products for compliance, data and analytics. It has developed a name for itself in the global RegTech Industry with a range of products that straddle the length of the information supply chain.  It caters to Regulators including Central Banks, Business Registries, Capital Market Regulators and Stock Exchanges. It also provides solutions to the regulated, including Corporates, Banks, Mutual Funds and is operating in the domestic as well as overseas markets. It also provides IRIS Data Consumption Platform, a structured data repository to access financial and non-financial data of public and private companies; IRIS FinX - an integrated consolidation application which enables end to end financial reporting by extracting data from source ERP systems, multiple databases, or spreadsheets; and IRIS GST - an application to file GST as well as XBRL conversion, consulting and training services.

Major Milestones of the Company:

  • 1998: XBRL is born.
  • 2005: Edgar Online contracts IRIS to convert historical filings of US Companies into XBRL.
  • 2006: ICERS built on iFile for BSE.
  • 2007: CFDS built on iFile for BSE/NSE.
  • 2008: RBI adopts iFile for Capital Adequacy Returns.
  • 2009: Merrill Corp awards XBRL conversion contract to IRIS to meet US SEC mandate.
  • 2009: iFile in Macedonia in partnership with ERS of Ireland.
  • 2009: Pilot iFile implementation for JSE, South Africa.
  • 2010: iFile in USA for ESCA.
  • 2010: Taxonomy for XBRL, SA and JSE developed with Deloitte. Full iFile implementation for JSE.
  • 2011: Deloitte awards iXBRL conversion contract for UK.
  • 2011: iDeal implemented in Canara Bank and several Mutual Funds.
  • 2012: iFile 2nd phase for RBI.
  • 2013: Carbon: Enterprise SaaS product development begins.
  • 2013: iFile in Saudi Arabia for Tadawul goes live.
  • 2014: ACRA’s BizFinX Platform based on iFile goes live.
  • 2014: iDeal gets its 100th customer.
  • 2014: Work begins on DCP, Data Analytics Platform.
  • 2014: iFile goes live in Qatar.
  • 2015: iDeal e-audit solution launched in Turkey.2015: Work starts on version 4 of iFile.
  • 2015: iDeal wins first international client, AfrAsia Bank.
  • 2015: iFile implementation at MCI (Saudi Arabia), DBD (Thailand), and Bank of Mauritius goes live. iFile SaaS model launched with CBRD, Mauritius.
  • 2016: Large instance XBRL validator built, opens up new opportunities.
  • 2016: iFile 3rd phase for RBI awarded to IRIS.
  • 2016: iFile implementation begins in Kuwait CMA.
  • 2016: Early customers for CARBON in US, Italy markets.
  • 2016: FATCA reporting solution launched for BFSI segment.
  • 2017: iFile implementation begins in Malaysia SSM and SCM, Jordon Stock Exchange, CIPC South Africa.
  • 2017: IRIS selected as GSP, launches GST solution.
  • 2017: Vice President of India inaugurates SAI Portal built by IRIS.

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