Fulfil the ESMA ESEF requirements and reduce costs at the same time

The ESMA issued new financial reporting requirements for all publicly listed corporations in Europe: the European Single Electronic Format using inline XBRL (iXBRL). This means a lot of corporations are looking for a solution that enables them to report in iXBRL to meet these requirements.

Regrettably, the discussion within corporations only focuses on two options:

  1. Expand their current software with additional tooling.
  2. Outsource the conversion of their PDF to iXBRL.

Both options create extra steps within the corporation’s process, which are time-consuming and increase costs.

But what if this ESMA directive creates an excellent opportunity for your corporation, a chance to simplify your process for quarterly, annual and other financial reports?

Seize this opportunity with Taxxor Disclosure Manager

At Taxxor, we decided to not only focus on the ESEF mandate but use this momentum to create a tool that simplifies the entire process. From beginning to end, it becomes easier to mould your data into an attractive report.

Taxxor Disclosure Manager (TDM) connects with several source systems (for example, SAP), serves as a role-based text editor, and allows you to automatically update tables, figures, and graphs. TDM helps you to set up most of your annual report before year end.

With TDM, it is easy to create your annual report in HTML for your website, as PDF and in iXBRL, all from the same source, centrally managed.

Take a look at Royal Philips

Royal Philips uses Taxxor Disclosure Manager for all its external financial reports. TDM focuses on creating a more efficient process, reducing last-minute stress and above all, reducing costs for external auditors with data lineage and audit trail functionality.

The cost reductions in the first year are significant; they are higher than the licence fee of TDM. Due to the reuse of data, costs in the second year can be reduced even more. Royal Philips seized the opportunity to turn a directive into an advantage.

Create your advantage

Want to know how you can reduce costs within your reporting process and comply with the ESMA requirements? Schedule a demo with one of the Taxxor experts.

Yes, I want to reduce costs and create an efficient process