The time has come for all players in the financial services industry to address the imbalance between the amount of information that is being created and the ability of the industry to effectively analyze and manage that information. Today we have the opportunity to begin to address this imbalance through the introduction of a technology called XBRL (eXtensible Business Reporting Language) that can help transform textual paper-driven information into tagged electronic data. XBRL can offer a real opportunity to address a securities process that has alternatively been declared the “holy grail” or the “wild west” of the financial services industry — corporate actions.