‘Next generation’ digital - transforming reporting
From its unpromising beginnings in plain, data-led filings it is difficult to imagine how XBRL reporting could ever fulfil this promise. Engaging digital communications? Fully accessible content? Google friendly? All in an XBRL report? Really? It may be surprising, but it’s true.
To explore the untapped potential of the new digital format, our team at Friend joined up with digital data leader Experian plc to create a fully interactive XBRL version of Experian’s 2022 report.
View the report.
"As a global leader in digital data services, we are taking this step to visibly lead on the inevitable transition to digital-first reporting – to enhance our reporting, and shape the agenda on digital, communications innovation, XBRL tagging and the IFRS taxonomy."
Mark Pepper, Global Financial Controller, Experian
Experian’s online ESEF report is a first for digital reporting. It has XBRL tagging, combined with all the online features you would expect from digital, and the whole report in the mandatory digital format (xHTML).
Just like the rest of the web, this new type of XBRL report is interactive, responsive and navigable. It also has full search, SEO, analytics, video and much more. This is made possible by the advances in reporting software and offers a tangible glimpse of the future of digital corporate reporting. This ‘next generation’ of digital report also offers a long-term solution to other digital compliance challenges, including accessibility and sustainability reporting, which must also be in this format.
Note For any tech or legal specialists reading... the ‘filing’ version of this report is compliant with all the requirements, and the native xHTML enables the mandatory notes tagging to work properly, overcoming the technical limitations of PDF. This improves the quality and usability of the tagged data and makes the new digital format much more user friendly.