Since the launch of MBRS in 2018, mTool has been the go-to solution for company secretaries and finance professionals in Malaysia. Built by us at IRIS, mTool made it possible to convert financial statements and annual returns into XBRL with accuracy, helping thousands of entities meet SSM’s compliance requirements. It has become the trusted companion for MBRS submissions – reliable, compliant, and aligned with the MBRS Portal’s validation engine. 

However, with the introduction of MBRS 2.0 in September 2024, it’s time to explore solutions that match the evolving taxonomy standards, increasing filing complexities, and keep-up with the growing emphasis on accuracy and automation. This is where IRIS Instant plays a crucial role. It is a cloud-based, AI-powered XBRL tagging platform purpose-built to streamline MBRS 2.0 compliance. 

This blog explores when and why company secretaries, secretarial firms, accountants, should consider upgrading from mTool to IRIS Instant, the advantages it offers, and how it can significantly enhance your MBRS 2.0 filing workflow.

mTool, developed by us, has supported MBRS filing since its launch. It enabled company secretaries and finance teams to prepare XBRL-compliant financial statements, annual returns, and exemption applications accurately, in line with the MBRS Portal’s validation engine. 

While reliable, mTool’s Excel-based desktop workflow has some practical limitations for MBRS 2.0 filing: 

• Manual tagging of each data point, which is time-consuming and error-prone 
• Single-user access, restricting collaboration for teams handling multiple entities or working with external consultants. 
• Installed software dependency, limiting remote or hybrid access. 
• Manual taxonomy updates, requiring users to reinstall or reconfigure the tool 
• With these challenges in mind, many organizations are seeking smarter, more intuitive alternatives to meet their MBRS 2.0 filing requirements. 

IRIS Instant is an AI-powered, cloud-based MBRS 2.0 filing solution that addresses the limitations of traditional tools like mTool. Built by us, the team behind mTool and the MBRS portal, IRIS Instant combines MBRS expertise with AI-powered automation for a fast, accurate, and user-friendly filing workflow. 

• Cloud-Based Access: No installation required; access from anywhere with a secure login. 
• AI-Powered XBRL Tagging: Eliminates manual tagging and significantly reduces errors. 
• Built-In SSM Taxonomy Navigator: Always up to date with the latest taxonomy changes. 
• Multi-User, Role-Based Access: Enables collaboration and parallel processing. 
• Real-Time Validation: Aligned with the same validation engine used in mTool and MBRS Portal. 
• Automatic Footnotes and Aggregations: Ensures transparency and compliance. 
• Smart PDF Extraction: Works with stylised and simple PDFs, auto-tagging both numerical and textual disclosures.

If you’re currently using mTool for MBRS 2.0 filing, it’s important to assess whether your existing workflow is helping or hindering your compliance process. Here are clear indicators that it’s time to upgrade to IRIS Instant: 

1. You’re Spending Too Much Time on Manual Tagging

Manual tagging is not only tedious but highly susceptible to human error. IRIS Instant’s AI scans the uploaded financial statements and intelligently tags all relevant data points – both numerical and textual – based on the latest SSM taxonomy. It offers 95%+ tagging accuracy, drastically reducing time spent on repetitive tasks. 

2. Your Filing Process Lacks Collaboration

With mTool, only one user can work on a file at a time. In contrast, IRIS Instant supports multi-user access with role-based controls, allowing multiple team members to work in parallel. Whether you’re handling dozens of entities or collaborating with external consultants, this feature greatly enhances efficiency. 

3. You Struggle to Keep Up with Taxonomy Updates

IRIS Instant, being cloud-based, auto-applies taxonomy changes in real time – no manual intervention needed. This ensures your MBRS 2.0 filings are always compliant with the latest standards. 

4. You Need Greater Accuracy and Validation

IRIS Instant uses the same XBRL Certified Validation Engine that powers the MBRS Portal, meaning validations are accurate and reliable. Plus, it runs section-wise real-time validations, flagging errors, inconsistencies, and missing mandatory information early in the process – not at the final submission stage. 

5. You Want a User-Friendly Interface Without Losing Familiarity

Transitioning from mTool to IRIS Instant doesn’t mean starting from scratch. The editing interface is designed to look and feel like mTool, but with a web-based structure that adds AI and automation. This minimizes training time and ensures a smooth user transition. 

1. Faster Turnaround Time
What takes hours using mTool can be completed in minutes using IRIS Instant, thanks to AI-powered auto-tagging and automation features like auto-calculation, auto-aggregation, and auto-footnote generation.
2. Increased Filing Accuracy
With built-in validations, referencing tools (like the green eye icon that shows the source of each value), and auto-filled XBRL templates, the risk of errors is reduced dramatically.
3. Greater Control and Transparency
Every action, from tagging to validation, is auditable. IRIS Instant provides a clear trail of changes and justifications – a key requirement for audit readiness and regulatory scrutiny.
4. Flexible Deployment
Being cloud-based, IRIS Instant eliminates the need for IT setup or maintenance. Your team can access the platform securely from anywhere — perfect for hybrid or remote work environments.

Moving from mTool to IRIS Instant is a straightforward process. Here’s how you can get started: 

1. Sign Up for a Trial – IRIS Instant offers a free trial where you can experience single-report uploads and test its intuitive interface. 
2. Train Your Team – Minimal training is needed as the interface mirrors mTool. IRIS also provides onboarding support. 
3. Choose the Right License – For higher volume filers, IRIS Instant offers bulk upload capabilities, priority support, and additional user seats. 
4. Upload Historical Data – You can migrate past filings and company profiles to IRIS Instant to create a centralized MBRS filing repository. 

As MBRS filing becomes more mainstream and compliance expectations grow, tools like IRIS Instant are paving the way for smarter, faster, and more reliable regulatory reporting. Whether you’re a company secretary managing multiple entities or a financial controller seeking efficiency and accuracy, IRIS Instant equips you with the technology you need to stay ahead of regulatory change. 

Built by the pioneers of Malaysia’s MBRS ecosystem, IRIS Instant is more than just a filing tool—it’s a complete, future-ready MBRS 2.0 mandate compliance platform. 

If you’ve been relying on other other tools and are starting to feel the weight of growing complexity, taxonomy changes, and manual inefficiencies, now is the time to upgrade. IRIS Instant combines the familiarity of mTool with cutting-edge AI automation, real-time validation, and cloud flexibility.
Don’t let outdated tools hold back your compliance strategy. Upgrade to IRIS Instant and experience the future of MBRS filing today.