Disclosure Management SmartNotes
The leading editorial system SmartNotes increases efficiency in the creation of annual reports as well as iXBRL reports and helps you to easily implement the current ESEF requirements.
End-to-end process in one software solution: working with SmartNotes from the first data import and the subsequent input of corrections, to the publication of the annual report in a print-ready layout without media discontinuity. The simple handling with well-known Microsoft Office products, the clear menu navigation, and the automated execution of manual work steps guarantees you the fast and efficient creation of any kind of business reports. Thanks to the publication-ready layout you minimise not only costs, but also strenuous communications with the agency.
SmartNotes in detail
From the initial data import, through subsequent correction updates, to the finished print-ready annual report - a solution that meets all requirements.
Annual Reports 2022 - comply with ESEF and iXBRL using SmartNotes
Starting from 2022, the full notes to the financial statements have to be tagged with ESEF text block taggings, additionally to the main financial statements, which is a new challenge for preparers and audit firms. With our disclosure management system SmartNotes, the tagging of text blocks is menu-supported and therefore very convenient. Basically, SmartNotes is based on Microsoft Office products. However, the content controls here can be conveniently inserted, edited or deleted via the SmartNotes context menu.
This guarantees fast and reliable ESEF reporting!
Sustainability reporting and ESG reporting software
The depiction of ecological (environmental), social (social) and governmental (governmental) influences has become increasingly important in recent times and many companies can no longer imagine doing without them. Accordingly, extensive changes in sustainability reporting are imminent. Many companies are obliged to report on environmental, social and governance (ESG) aspects for the first time by 2025. The Corporate Sustainability Reporting Directive (CSRD) requires approximately 50,000 companies in the EU to provide detailed sustainability reports as part of a digital management report – and many other international initiatives around the world are in the process of making this mandatory for non-EU companies as well.
Find the latest information from the current Exposure Draft of the European Sustainability Reporting Standard (ESRS) in our blog post.
Below are the challenges that arise from the current reporting and publication process that can be easily implemented with our solutions:
- How to calculate, collect and consolidate the required data points by using solutions from Lucanet partners.
- Using disclosure management software to be able to work collaboratively on the sustainability statements.
- Automate the data flow from various sources into management reports in order to eliminate manual and error-prone process as well as to optimize the last-mile reporting process.
- Options how to handle formatting and the production of glossy and ready-to-print reports in Word or InDesign as well as online reports.
- Digital tagging of sustainability and financial statements with the ESRS or ISSB XBRL taxonomy.
- Auditing and publication of the final report.
ESG Reports - recent developments and AMANA contribution to the EFRAG working group
The recommendations of the TCFD (Task Force on Climate-related Financial Disclosures) are on the agenda for corporate reports.
The nomination of an International Sustainability Standards Board at IFRS Foundation is a result of the ESG standardisation need expressed by capital market participants, Switzerland proposed Geneva as a location for the new board and announced the binding implementation of the TCFD for the 2023 financial year. Germany 2023.
Setting the right priorities in the vast field of the ESG topics poses a big challenge. Our SmartNotes clients have been continuously extending the use of SmartNotes to ESG reporting content for many years. See below the testimonials of our clients in this context.
Lucanet strongly supports the suggestion for cooperation between EFRAG and IFRS Foundation by Accountancy Europe.
Lucanet is actively contributing to the most recent and concrete developments in this area. Richard Bössen, Head of our XBRL Development Team, is a member of the working group at EFRAG. EFRAG has recently published a “Working paper on climate standard prototype”. The development of the XBRL standard is in the scope of the working group activities. The adoption of upcoming standards in different European countries is just a matter of time.
Benefits with our Disclosure Management Software
External agency costs are considerably reduced through the creation of print-ready reports.
The new challenge is the so-called text block tagging of the annex, which can also have a significant impact on the reporting process. In our whitepaper on text block tagging, you will find all the information you need to ensure that the ESEF business report preparation process runs smoothly.
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