DataTracks Enhances Text Block Tagging Interface for ESEF Reporting


Share post:

DataTracks, a global leader in disclosure management software and services, has improved its flagship product, Rainbow Software with an enhanced text block tagging interface for ESEF Phase II mandate. The software upgrade will help companies in the European Union prepare annual reports in Inline XBRL (iXBRL) under ESEF, seamlessly integrating appropriate text block tags.

Under the ESEF mandate, EU-listed companies must submit their annual financial statements in the xHTML format. If the company prepares consolidated financial statements in IFRS, the xHTML document must be marked up with XBRL tags (iXBRL). With these constantly evolving regulatory requirements, EU-listed companies are concerned about finding software that enables them to publish compliant iXBRL reports with rich design. DataTracks Rainbow Software is the go-to solution, which automates and prepares compliant financial reports in multiple formats for filing with regulators such as the ESMA.

DataTracks recently updated its Rainbow Software with a significant improvement to text block tagging interface, this improvement includes Swift text blog tagging and Upgraded roll forward.

Swift text block tagging:

The swift text block tagging feature is particularly useful when the disclosure spans multiple pages and selecting the content range becomes challenging. This feature gives users flexibility to allow users to pin the starting and ending positions in the tagging layer, example – one of text block elements must cover all the note disclosures together.

Also read: Top Five Ways for Developers to Prevent Burnout Before It’s Too Late

Upgraded Roll Forward:

The upgraded roll forward feature allows users to seamlessly carry over text block tags from one version to another thus saving time and effort in preparing subsequent drafts. This feature is essential to maintaining the rich design layout of annual reports integrity.

Pramodh S, VP Product Design, DataTracks, said, “We are delighted to roll out the upgraded text block tagging interface ahead of the second phase of the ESEF mandate. The upgraded interface will provide a smooth process for our customers, as the number of text blocks is relatively high (up to 100%) compared to other regulations like SEC in the US. Thanks to our customers & partners for their valuable feedback during the development process. Our engineering team have translated the feedback and implemented them in the product, for a timely launch, despite the complexities involved in rich design layout and the number of pages in annual reports.”

DataTracks also offers a wide range of robust and dependable regulatory solutions, including AIFMD, CRD IV, Solvency II, MIFID II, and FATCA, to help European companies meet their compliance requirements.

TalkDev Bureau
TalkDev Bureau
The TalkDev Bureau has five well-trained writers and journalists, well versed in B2B enterprise technology industry, and constantly in touch with industry leaders for the latest trends, opinions, and other inputs- to bring you the best and latest in the domain.

Related articles

Opal Kelly Launches Advanced FPGA Module for High-Performance Data Processing Applications

Opal Kelly has announced the XEM8370-KU11P, a compact FPGA module featuring the AMD Kintex UltraScale+ FPGA. The module...

anynines Introduces a9s CLI for Easy PostgreSQL Management in Kubernetes Clusters

anynines has released a9s CLI, a command-line interface designed to simplify the installation and management of PostgreSQL in...

Neota Unveils Azure OpenAI Building Block for Enhanced No-Code Automation and AI Integration

Neota has introduced the Azure OpenAI Building Block, a tool that integrates Generative AI capabilities into business workflows,...

Wondershare Unveils Groundbreaking AI Features in Latest Filmora Mobile Update

Wondershare has released a major mobile upgrade for Filmora, its flagship product. The upgrade introduces innovative AI tools...