• ESEF

    Swift and simple ESEF Compliance

What is the European Single Electronic Format (ESEF)?

The European Single Electronic Format (ESEF) is the latest digital model that public listed companies on EU regulated markets must use when filing their annual financial reports.

The new requirement of the European Securities and Markets Authority (ESMA), which will come into force on January 1st, 2022, arises to facilitate the communication of information, accessibility, analysis, and comparability of the organizations’ annual financial reports.

Therefore, to comply with the Directive 2013/50/EU and the ESEF, your organization must adopt a technological solution that allows the generation of documents in XHTML format, also using built-in bookmarks in iXBRL, which can be originated from Word, Excel, and Portable Document Format (PDF).
Please find all the official information about the Regulation here.

The Challenge with Compliance

In an environment of constant legislative change – which, as a rule, follows the evolution of technology and the way individuals and businesses use it -, your organization is subject to significantly increasing annual investments in compliance actions.

If you do not ensure that the operation complies with the law, you are not only subject to risking your organization’s good reputation but may also be the target of high fines. In this sense and with a long-term view, you should invest in an agile solution that facilitates the process, annuls the need to hire specialized human resources, and has a technological basis that allows the integration of additional modules for future compliance actions.

ESEF COMPLIANCE MADE EASY? CONTACT US!

A Solution that is tailor-made to your Organization’s operation

Considering the complexity of the reporting obligations and the volume of data to report, it is essential to automate the execution process as much as possible. Your efforts should be transferred to the report’s preparation while substantially reducing the human error in the introduction and processing of data and the validation process of the documents to be submitted.

Quidgest ESEF reporting solution follows the basis of the structure that the European Banking Authority (EBA) has defined for Common Reporting (COREP) and Financial Reporting (FINREP). In this way, the tool allows fitting all the reports that, by law, must be delivered to the authorities.

esef conversion software

The new structure proposed by ESMA, based on the same principles as EBA, is part of this solution and allows reports to be generated based on this configuration. You can directly import the final data from Excel, Word, or PDF files with our solution.

AGILE INTEGRATION WITH YOUR SYSTEM

Due to its flexible nature to the systems already in use – and in opposition to most of the tools offered in the market – your company can count on the agile integration of the solution proposed by Quidgest.

We support your employees to make the most out of the solution

Our solution is intuitive and straightforward to use, but we want to ensure that your organization uses it to its full potential. To make the most out of it, we support the people who will use or manage the system via training with our specialists.

RELATED SOLUTIONS

BRR

Regulatory Reports

Knowledgebase

XBRL vs. iXBRL

In order to facilitate data reading by users, the iXBRL format (inline XBRL) appears. This technology, which regulators have been implementing since 2018, allows the user to take advantage of the HTML language and unite it with the traditional XBRL (…)

Technology for better compliance. Contact us!

Cofinanced by:

© 2022 Copyright – Quidgest