The ESEF reporting regulation was introduced to improve digital reporting for all stakeholders – human and machine – allowing all needs to be met in a ‘single electronic format’. Current technologies based on PDF and Word docs are a basic first step, but unfortunately they deliver digitally uninspiring reports with none of the advantages promised by the regulation, especially accessibility. But like everything digital, this is changing fast.
This new Experian report offers a glimpse of the untapped potential of Inline XBRL technology. It shows how the new ‘single electronic format’ and ESEF/UKSEF can actually help companies to transform their future digital reporting communications and compliance over the coming years.
Experian’s digital report showcases the new mandatory format’s full capabilities – it is interactive, responsive and SEO-friendly, fully tagged with easy-to-view XBRL data. It is also ready for the next phase of digital requirements that are coming. This includes additional content tagging and UKSEF, digital sustainability reporting with XBRL, and increased digital accessibility demands.
"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
At Friend, we believe this is the first fully engaging XBRL report of its kind globally and certainly the first among the FTSE 100. This format will evolve quickly as digital regulations expand and the technology improves – the new generation of the XBRL report will enable corporate reporting to finally catch up with the digital age.
The report has been created using Reportl, a purpose-built digital reporting CMS, delivering single source content across all formats (online, XBRL, print and PDF). Put simply, Reportl makes future digital reporting faster and easier for companies, and better for end users.