The ESEF iXBRL mandate commences on January 1, 2020. The mandate requires issuers in EU regulated markets to prepare their Annual Financial Reports (AFRs) in iXBRL format, rather than PDF format. As companies prepare to meet the mandate, they are discovering a range of possible solutions for iXBRL creation, from creating iXBRL wholly in-house to outsourcing it to a service provider.
IRIS CARBON®: Flexible Solution and Service, Adaptable to Every Client’s Specific Situation
At IRIS, we offer a flexible solution by combining our software platform (IRIS CARBON®) with our dedicated support team to provide guidance and expertise throughout the entire process of creating your iXBRL AFR. You’ll decide how much of the iXBRL creation you’ll do in-house versus how much you’ll outsource to us. You can also decide whether you want to use the collaborative document creation functionalities to prepare your AFR on the platform, or whether you prefer to prepare your AFR offline and use only IRIS CARBON®’s iXBRL modules. You can pick any combination that meets your company’s needs. We will provide training, and service, and act as a safety net to ensure that your iXBRL AFR preparation goes smoothly.
Outstanding Customer Service
We understand the importance of prompt, reliable, expert customer service, and at IRIS we take great pride in our reputation for providing excellent customer service, and in knowing the XBRL domain extremely well. As an example of the level of support we provide to our clients, we offer a description of the care we took with a recently-acquired European client. It’s the type of care every client can expect from us.
Example of an ESEF Bootcamp with a Belgian Client
Recently we contracted with a large retail corporation in Belgium to provide ESEF compliance reporting services. We sent a member of our team to conduct an “ESEF bootcamp” at the company’s headquarters. Our team member walked the entire C-suite (audience) through the ESEF mandate and then led a detailed training on iXBRL reporting on our SaaS platform, IRIS CARBON®. The training lasted two days.
Prior to the training, our support team had already set up the company’s most recent AFR on IRIS CARBON®. Rather than using sample data in training, we try to always use the company’s real data, so that they can see tagging examples on data they are familiar with, and so that they can see how their report will look in iXBRL. Throughout the training, the client commented on how intuitive and easy to use the features were. They also remarked that there were very few compliance products that were already anchoring and ESEF taxonomy ready.
The client had questions during the training and needed clarifications from our expert teams. To illustrate how quickly requests for access to expert support were processed on our end, we submitted through the platform some tagging revisions and questions. The acknowledgment came from our service department almost immediately, and within ten minutes the tagging was revised and the questions were answered.
One of the benefits of excellent customer service is that happy customers are more likely to share their positive experiences with others. We were pleased to hear, as the Bootcamp was ending, that this client wanted to showcase their iXBRL document to their auditors in December 2019.
IRIS is the most trusted name in XBRL implementation and reporting, and since 2005 has provided solutions for more than 26 regulators and 1.5 million filers across the globe. With our IRIS CARBON® software platform and our expert service, we can provide a flexible iXBRL solution that is right for your company. To learn more, and for free conversion of your most recent AFR to iXBRL format, send us an email at info@iriscarbon.com.
