More than just a single mandate—an opportunity to transform your reporting process
How will your process change?
The European Single Electronic Format (ESEF) is part of a wider trend changing annual reporting for all companies. Make sure you are prepared for the impact this new requirement and others like it will have on your whole reporting process.
Assess and improve your reporting process
The ESEF presents an opportunity to assess your current process and implement the European Securities and Markets Authority (ESMA) mandate in ways that improve the quality, efficiency and accuracy of your financial reporting.
The Workiva platform is a controlled, collaborative environment, where your entire team can work together on the same report at the same time. Auditors can be allowed access early in the process, which is particularly important with the addition of XBRL® audit, with authorisation to specific areas of the report when you are ready—and with no reduction in your reporting timeline.
Need to get up to speed on the requirements of the ESMA mandate? Download our ESEF guide.
XBRL® is a trademark of XBRL International, Inc. All rights reserved. The XBRL™/® standards are open and freely licensed by way of the XBRL International License Agreement.
Connect reporting and compliance
Ensure compliance with the ESEF, and transform the way you work by connecting your data and reporting processes.
Connect, automate and collaborate
Transform the way that your data, reports and teams work together.
Connect and combine data directly from your sources to deliver greater accuracy and build trust in the numbers and narrative across reports and periods, eliminating version control issues. Automate the flow of data, so you can effortlessly assemble, create and distribute reports. Build collaborative workspaces, so your teams can connect in a secure environment.
The end result is that your organisation can produce timely, accurate and consistent reports for all compliance (ESEF, SEC), internal reporting and stakeholder communication needs.
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Seamlessly integrate Inline XBRL into the designed report
Trust the industry leader in XBRL® and iXBRL® software and services. Leverage our integrated platform and world-class expertise for simultaneous report creation, design and XBRL tagging.
Easily shift to iXBRL reporting
The global leader in XBRL and Inline XBRL®, Workiva has years of experience in IFRS and helping issuers use XBRL tags in their submissions to regulators around the world.
With the Workiva platform, tagging and review can be done simultaneously with updates to content and design. Plus, the iXBRL file can be designed to the same standard as investors expect but with the incredible functionality of the new format.
Additionally, since your data does not leave the Workiva platform, you have full data assurance, without having to sacrifice design—perfect for audit.
Inline XBRL®, iXBRL®, and XBRL® are trademarks of XBRL International, Inc. All rights reserved. The XBRL® standards are open and freely licensed by way of the XBRL International License Agreement.
Streamline Your XBRL Tagging Process With the Concept Recommendation System for ESEF
Our XBRL Concept Recommendation System for ESEF provides Workiva platform users with the top ESEF taxonomy concept choices for their statement tagging.
Kick-start your tagging process
Focusing on the primary financial statements, the system uses machine learning to power a top five list of the most likely taxonomy concepts for a selected line item. Designed to work alongside the Workiva Professional Services team or with in-house accounting expertise, the fully integrated functionality allows teams to accelerate tagging speed and reinforces accuracy in tagging.
Users can review concept details and make use of the tagging recommendations the same way they would a taxonomy search result. Additionally, users can choose to search for other concepts, or extend as necessary. The XBRL Concept Recommendation System is immediately available for ESEF XBRL tags in English language reports, with other languages following in due course.