The SEC has made eXtensible Business Reporting Language (XBRL) a mandate for financial filers. The largest companies will begin using the electronic data tagging system for financial submissions beginning June 15.

Though smaller companies do not have to use the financial language for two more years, they can gain analyst attention and set a tagging standard for industry-specific filing traits by implementing sooner than that.

“By reporting in XBRL, analysts will be able to retrieve your ...