LONDON, Oct. 1 /PRNewswire/
DataTracks, the global leader in compliance reporting solutions, has successfully assisted several leading public companies in preparing and submitting compliance reports to regulators. With a powerful, error-free and reliable labeling service, DataTracks integrates seamlessly with the comprehensive reporting services of British agency Friend Studio. Working closely together, the teams recently introduced an ESEF labeling solution for the UK’s first mandatory filing – for Standard Chartered, a UK-based multinational bank.
Under the ESEF mandate, EU and UK listed companies faced numerous challenges when submitting their annual financial reports in iXBRL format and complying with the new registration rules. DataTracks and Friend Studio’s experience in the mandatory XBRL file space and its European perspective provide organizations with a tried and tested solution that allows an enterprise reporting team to focus on their core responsibilities.
DataTracks and Friend Studio helped Standard Chartered deliver two fully-designed, high-quality annual ESEF reports in record time, in time with the announcement of results – the UK’s first mandatory ESEF reports.
Friend Studio is an award-winning team of London-based corporate, communications and brand reporting professionals who deliver strategic, creative and innovative communications across all media. Over the past five years, Friend Studio has integrated XBRL reporting into its services along with partners such as DataTracks.
Rob Ritchie Head of Digital Reporting at Friend Studio said: “I cannot thank the DataTracks team highly enough for the support and hard work that has enabled us to complete these orders quickly and to the highest quality. We really appreciate this and will do everything we can to make the process even better next year. Publication and submission of the first mandatory UK ESEF report for one of the largest companies in The country, doing this at the same time as the preliminaries is a great achievement! Congratulations to the entire team and we look forward to more joint projects
Balaji Mutukrishnan Director of Operations, DataTracks, said: It has been a fruitful collaboration with Friend Studio in handling the ESEF application of this prestigious bank, which includes a complex and extensive design. The team rose to the occasion and helped achieve good results without compromise or delay. We have been able to draw on more than 17 years of experience in regulatory filings around the world and easily apply best practices to the ESEF List. Working with the Friend Studio team, we found a solution to the challenges the client faced with ESEF
He further added: “The team worked hard to meet the client’s business needs and provide him with the most effective solutions within very tight deadlines to enable early filing. By satisfying the client with the final results, DataTracks has proven to be an expert in regulatory reporting solutions and a reliable ESEF provider. We will ensure that healthy working relationships are maintained with Partners like Friend Studio and we will continue to provide our maximum support and assistance moving forward.”
As a leading provider of disclosure management software for 17 years, DataTracks serves more than 21,500 companies in 26 countries. DataTracks has extensive experience in preparing over 2,20,000 compliance reports for submission to regulatory bodies such as ESMA in the EU, HMRC in the UK, ACRA in Singapore, CIPC in South Africa, SSM in Malaysia and SEC in the United States, and the MCA in India.
For more information, please visit the website @ https://www.datatracks.com/eu/
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