8 IRIS CARBON® Features that Help with Top-quality ESEF iXBRL Filings

With a global presence in 29 countries, IRIS CARBON® is one of the most recognizable names in the XBRL reporting space and a solution that is used by over 200 customers in the EU and UK alone.

The IRIS CARBON® platform is a comprehensive SaaS solution capable of managing all functions involved in the European Single Electronic Format (ESEF) compliance process seamlessly. Subsequently, it produces high-quality iXBRL-tagged digital reports that serve the information needs of all stakeholders.

Listed companies can utilize the platform to streamline their entire workflow, right from bringing in source data to the final submission of the iXBRL package with their Officially Appointed Mechanism (OAM). As a product that is entirely hosted on the cloud, IRIS CARBON® offers a highly collaborative environment that is completely secure and very simple to use.

Our emphasis on high-quality iXBRL output that is 100% free of errors and an approach to reporting that puts the issuer front and center are two of our biggest differentiators. This allows issuers to breeze through their ESEF compliance and regulatory reporting requirements in no time.

If you’re wondering how we’ve been able to transform the entire iXBRL report creation process for some of the biggest organizations in the EU, here’s a look at 8 features that make IRIS CARBON® indispensable to our customers:

1. Retention of all stylized elements in the Annual Report

One of IRIS CARBON®’s biggest strengths is its ability to produce iXBRL-tagged Annual Financial Reports (AFRs) that are an exact replica of the company’s PDF Annual Report. This means issuers with highly stylized Annual Reports do not lose out on the aesthetics of their report owing to poor formatting in their iXBRL output file.

 PDF Annual Report

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iXBRL version of the annual report

2. Smart tagging

IRIS CARBON® uses Artificial Intelligence and Machine Learning to enable automated tagging in your first year of ESEF compliance. This can be leveraged to simplify and expedite reporting in subsequent years by using the in-built rollover functionality that allows you to reapply tags from an existing iXBRL document from a prior year.

3. Intuitive review module

IRIS CARBON® ships with a comprehensive review module that allows users working on a report to approve tags, reject tags, and even sort tags by the user. This makes it extremely convenient for organizations with large reporting teams to get better visibility on the review of all tags in their iXBRL and ensure that their application is as precise as possible.

Review pane from IRIS CARBON® for approving and rejecting tags

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4. Robust commenting module

Users can raise comments to our support teams through the platform, receive real-time feedback via alerts and notifications, and sort comments raised by their status i.e. open, closed, pending, etc. A lot of our customers relish using this feature as queries are resolved promptly and users can move on to other sections of the report that much quicker.

Commenting pane from IRIS CARBON® for raising comments and receiving feedback

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5. Validations

Our XII-certified inbuilt validator IRIS Bushchat® can be used to precisely track errors by taking you to the exact spot in the report where the error is present. Validation results, whether errors or warnings, can be solved in real-time with the help of our validator. It is responsible for ensuring that your final iXBRL output will be 100% error-free.

The validation pane from IRIS CARBON® enables easy identification of errors/warnings

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6. High-quality iXBRL output

IRIS CARBON® has consistently topped independent quality rankings for iXBRL service providers and continues to produce some of the highest quality iXBRL-tagged Annual Reports in comparison to other vendors. With a sustained focus on quality and an approach to ESEF reporting that puts the customer ahead of everything, you can rest assured that you are in safe hands.

#1 Ranking in  XBRL Quality Score published by XBRL Logic

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7. Interactive iXBRL Viewer

Companies can showcase their iXBRL-tagged Annual Reports in all their glory using IRIS CARBON®’s interactive iXBRL Viewer. This is very easy for companies to embed on their corporate website or wherever they would like to showcase their stylized iXBRL-tagged Annual Report to their stakeholders allowing them to experience and interact with rich content.

8. Tagging automation for successive reports

IRIS CARBON® allows users to either create reports from scratch or work with documents imported from the prior year. You can simply roll forward existing templates for upcoming years and retain all the tags and metadata from the previous year in order to expedite your filing in subsequent years.

Here’s how our customers describe their filing experience with our platform.

 “The best thing about IRIS CARBON® is its user-friendly nature which is self-explanatory and can be used with little to no training. We also liked the fact that two people could review reports at the same time. We would recommend using this software for ESEF reporting.”

Pauliina Koponen
Senior Accountant
Basware Oyj, Finland

With IRIS CARBON®, you are always on top of any new obligations laid down by ESMA and are prepared to tackle them with utmost ease. What’s more, you will find us constantly improving customer experience through frequent software updates that always keep us ahead of the game. And we’re available 24/7.

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