Digitisation of corporate reporting: what is important?

We at YOUNITY are always on the lookout for innovative solutions that are ahead of the times. With mms solutions, we have found a partner who knows the demanding requirements of creating an annual report inside out.

And that is why it is so obvious that mms solutions has developed its own specialised modules based on standard solutions, which provide the urgently needed relief for the intensive creation of business reports in different channels. We currently know of no other system that meets customer needs as precisely as ns.publish and at the same time digitises reporting sustainably with its single-source-of-truth approach. Take a look at our (german!) webinar:

An annual report is full of challenges

Let’s face it. Manual production of an annual report can definitely be sleep depriving. We know the biggest challenges that practically every manual production brings with it. And it is precisely these that are significantly eliminated with a digital solution:

  • Complex overall coordination between stakeholders
  • Constant version conflicts due to lack of central data storage
  • A large number of autocorrections due to complex change management
  • A large number of interfaces due to manual data exchange (media discontinuity!)
  • Extremely high control effort, as there is no traceability of any adaptations
  • Simply no consistency across languages, as no automated processes are supported
  • High deadline pressure due to ever shorter time frames and resources – and manual work

We are clearly of the opinion that annual report production must be sustainably digitised and must at least provide the following benefits:

  • Single-Source-of-Truth
  • Partial or full automation of repeatable processes
  • Microsoft Excel-integration/automation
  • Integrated automated change tracking and versioning
  • No media discontinuity, interfaces to peripheral systems
  • Simultaneous publishing in print, web and XBRL

And it is precisely this benefit that mms solutions creates with its products such as ns.publish, ns.wow and all specialised add-on modules.

Together, the start in corporate reporting is easier

You think that sounds great? But you just don’t know where to start? Essentially, it is quite simple. We at YOUNITY help you to set your requirements for digitalised reporting. We analyse and evaluate your current digital (or non-digital) situation together with you and develop exactly the end product you need with the solutions from mms solutions. But we are not only there for you when it comes to analysis. No, we take all the effort out of your hands and, together with mms solutions, make sure that your system is shaped the way you expect it to be. Apart from the workshop with our requirements engineering, you can leave all the work to realise your requirements to us. We work transparently, quickly, closely and with a very high quality standard. We digitise your report in four steps within four to ten weeks:

  1. Conception; Conducting a workshop to determine and transfer the requirements.
  2. Provision; technical provision of the system and the modules
  3. Configuration; parameterisation of the modules and structure of the documents
  4. Training; case-specific training of stakeholders

With our extensive neutral expertise in the digitalisation of marketing and communication and the enormous technological capabilities of mms solutions, we are convinced that your solution will be sustainable and promising in any case.

YOUNITY offers…

  • Effective project realisation
  • Highest quality and reliability
  • Geographical and cultural proximity
  • Comprehensive know-how on the digitalisation of communication

mms solutions offers…

  • Industry-focused software development
  • High innovation capability
  • High-security infrastructure
  • ISO 27001

Together we ensure you financial automation using Microsoft Excel, integrated change management, multi-channel publishing capability, integrated translation management and XBRL readiness.

Not convinced yet? Let’s talk about XBRL

More and more stock exchange regulators and tax authorities are using the machine-readable file format XBRL to clearly structure, digitally process, check and compare financial data. If investors want to analyse the financial data of different companies, this is possible with XBRL at the push of a button. XBRL has already become the standard in over 70 countries. The European Securities and Markets Authority (ESMA) is now obliging all listed and IFRS-accounting groups in Europe to publish their financial reporting in a new, XBRL-based electronic reporting format, the so-called European Single Electronic Format (ESEF), machine-readable form from 2020.

And now, due to the complex technical standards for companies, a considerable implementation effort is basically expected when applying the new format specifications. Especially if the annual report is not produced digitally.

With the solutions from mms solutions and the xbrl plus module, an integrative approach is pursued that does not use any other separate solutions and requires neither upstream nor downstream manual intervention. Other solutions offer detached approaches, which only mean more effort and costs.

This makes it clear that if you have not yet digitised your annual report and XBRL is a “hot topic”, then ns.publish or ns.wow will not only save you money, but also your nerves.

If you missed our webinar on “Digitalisation in Corporate Reporting. Why is it relevant for your company?”, you can watch it here above in the article or on our YOUTUBE-Channel .

More exciting webinars from mms solutions are available here.

Happy reporting!

Image: Jop, Pexels

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