End-to-End-Process to the ESEF annual report
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: You work with SmartNotes from the first data import to the input of corrections to the publication of the annual report in a print-ready layout without media discontinuity. The simple handling with the well-known Microsoft Office products, the clear menu navigation as well as the automated execution of manual work steps guarantee you a fast and efficient creation of business reports of any kind. 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 be finished print-ready annual report - a solution that meets all requirements.
Our Disclosure Management SmartNotes allows you to import figures from all common consolidation and ERP systems, including SAP, LucaNet, HFM, Cognos and many more. Any charts, diagrams and even individual figures contained in the text are automatically filled in.
Whenever data is imported, our Disclosure Management displays a list of any chapters containing modified values. This allows the user to see at a glance which parts of the report require manual revision. Validation rules can be adjusted according to context and any data inconsistencies are then highlighted on the dashboard.
Thanks to the integrated roles and authorizations function, access to the various report components can be authorized on a person-by-person basis. From SMBs to global corporations, SmartNotes caters for customers of all sizes.
Using the "factory" functions you can transfer content from master to sub-documents and re-use identical text blocks for efficiency. For example, separate financial statements or risk reports can be produced in an assembly line fashion.
Our generic and certified AMANA XBRL Engine supports the editing of any number of taxonomies. SmartNotes not only ensures that your reports comply with the new European Single Electronic Format (ESEF) regulations, but also helps you to prepare your SEC filings and any other local GAAP reports in XBRL Format (e.g. UK GAAP) with ease.
With the automatic historization of the contents, our Disclosure Management SmartNotes contains a full audit trail and offers auditability. Individual requirements can be integrated, e.g. via freely definable workflows.
The integrated Layout Robot produces a high-resolution layout within the system. Your reports can be printed straight out of SmartNotes without having to rely on a graphic to put it into InDesign for you.
Overview of the benefits that AMANA and SmartNotes can deliver four your business:
Annual reports in 2022 - comply with ESEF and iXBRL using SmartNotes
The new European Single Electronic Format (ESEF) directive requires that all listed companies and issuers subject to IFRS standards from 2020, prepare their annual reports in iXBRL (Inline XBRL) and XHTML format. SmartNotes is equipped with our XBRL-certified software and supports all XBRL and IFRS taxonomies, making it a fast and reliable ESEF tool for accurate and compliant reporting.
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 the ESG reporting contents since many years, see below the testimonials of our clients in this context.
AMANA strongly supports the suggestion for cooperation between EFRAG and IFRS Foundation by Accountancy Europe.
AMANA 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.
With SmartNotes, a high level of data consistency is achieved within a report or between different report languages. The central user interface provides a single point of truth, so that all contents are centrally available to all employees.
An automated execution of manual activities by SmartNotes. This includes, for example, data consistency between tables, continuous texts and other report languages or the roll-forward functionality.
Reduce coordination between your departments with our Disclosure Management. Internally, a single point of truth approach supports you and externally, the possibility to produce reports and presentations ready for printing. In addition, you simply create (partial) documents and automatically compare report versions. The precise tracking of changes after a data import and a variety of evaluations for the most important report information also support the process.
Reporting is done in the familiar Microsoft Office products, which reduces the amount of training required to use SmartNotes.
The AMANA XBRL engine integrated with SmartNotes enables you to create consistent XBRL, iXBRL, and ESEF reports.
Webinars of ESEF and our Disclosure Management SmartNotes
ESEF Textblock-Tagging - Lessons Learned
In our webinar, the experiences from the first year of ESEF implementation will be presented, especially regarding text block tagging. In addition to the technical requirements, we will also discuss practical examples in our intelligent software solution SmartNotes.
Referents: Nina Schüller and Philipp Stampfuß
Disclosure Management SmartNotes: End-to-end process to the annual report
Our Disclosure Management SmartNotes increases the efficiency in the creation of annual reports and iXBRL reports and helps you to implement the ESEF requirements. You work with SmartNotes from the first data import, through the input of corrections, to the publication of the annual report in a print-ready layout without media discontinuity. Our Disclosure Management System relieves you of the manual work steps so that you can concentrate on essential content.
Referents: Björn Bielesch and Nina Schüller
SmartNotes InDesign Interface
With the SmartNotes InDesign interface, you can reduce the time-consuming communication and correction loops up to the layout with your agency to a minimum. We offer you the possibility to create a result document which the agency can process directly. 100% of the content and 80% of the layout can thus be delivered to the agency in the first step. Time and cost-intensive correction loops are a thing of the past.
Referents: Vanessa Höhn and Nicole Tötdmann
Tips & Tricks for Word in combination with SmartNotes
Word in combination with SmartNotes offers a variety of possibilities to edit, automate and layout texts. In this workshop we will discuss typical stumbling blocks such as margins, table layouts, table of contents, we will give tips and reveal one or two tricks how you can optimally structure and edit your documents.
Referents: Tamino Kschischan and Thomas Lohrengel
Ready-to-publish Reports from Word with the SmartNotes Layout Robot
End-to-end process from the first data import to the ready-to-publish annual report in your corporate design from Word with SmartNotes. The timely preparation of annual reports remains an important process; however, publishing annual reports in a high-quality layout might be very time-consuming and error-prone. The design of the report is often done by external agencies and is a manual effort. We will show you, in a live demonstration, how you can use the layout robot within SmartNotes to create a high-quality reports without the InDesign and therefore reducing the involvement of an agency to creative decisions support. With the addition of our XBRL Tagger, the ESEF reports (European Single Electronic Format) can be easily produced as well.
Referents: Tamino Kschischan, Thomas Lohrengel and Nicole Tödtmann.
"We use SmartNotes to compile four independent annual reports, one group report, and three segment reports. From the point of view of communication and procedures, it was crucial for us that the reports, created with Word, were fully ready for printing. SmartNotes fulfills this task skillfully. In particular, we benefit from automation advantages, especially in the financial reporting sector. In addition, from the outset we now have only print-ready reports in our internal process, which is very helpful and efficient for corrections or content coordination."
"With the implementation of SmartNotes, we have continuously improved our financial statement preparation process. The interfaces to the pre-system and the flexibility within the tool ensure that our accounts are always transparent and comprehensible. This not only saves time, but also enormously reduces the error rate in the preparation process. Thanks to the automated support in terms of design and layout, we can concentrate on the content aspects until publication. The SmartNotes support team has always supported us well in this and has always been competently available to answer questions as well as comments."
BLG LOGISTICS GROUP AG & CO. KG
"By implementing SmartNotes in our processes, we were able to automate the creation of our annual reports, our ESEF reporting and other internal and external reports. This has not only enabled us to save capacity in the long term, but also to reduce the length of the creation process and the paper-based correction loops to a minimum. Above all, the efficient number management as well as the creation of finished PDF reports have reduced the reconciliation processes in our company. In addition, the SmartNotes project and support team was always there to help us with any questions."
"We implemented SmartNotes for our financial and production reporting and have reached a high level of automation in our work process. The excellent functionalities for numbers as well as the design implementation within SmartNotes has made the reporting process both more efficient and completely transparent. The SmartNotes project team supported us competently and professionally throughout the entire implementation period."
"SmartNotes significantly facilitates Idorsia’s Financial Reporting process and was particularly helpful in the IPO (Initial Public Offering) process and for the first financial reporting a few weeks after the demerger. Using the strong collaboration and review capabilities, and how layout changes can be easily implemented, SmartNotes allows to focus on quality and consistency.“
"We are using SmartNotes for two reports on a quarterly/semiannual basis. SmartNotes has a highly sophisticated functionality for financial reports and helps us to concentrate on content while automating numbers in tables in text. The roll-forward functionality is also very helpful and allows us to produce the first versions of the next period reports in just couple of minutes. Although we are not a public company, with no requirement to publish our financial statements, we nevertheless use the Layout Robot feature to prepare internal reports with professional layouts for our main stakeholders (shareholders and banks)."
Testimonials - ESG reports
"We are using SmartNotes for our Annual Report production process. All contents are maintained in SmartNotes in a ready-to-publish format from Word including the following parts: Financial Report, Remuneration Report, Corporate Governance Report as well as Sustainability Report. The numbers in the tables, charts and texts are interconnected and connected to the source data, they are updated automatically for each data load throughout the report. SmartNotes has significantly helped us to automate the process and reduced the correction efforts."
"AMANA supported us in the implementation of the SmartNotes Disclosure Management System for external reporting. The implementation project and the automated processes were an excellent experience for our team. In our Annual Report all major contents including our Financial Reports as well as the ESG contents (Environment, Social and Governance) oft he report are maintained in SmartNotes. The charts have been built in Excel according tot he Corporate Design standards with automated data feeds. The source system is IBM Cognos with automated connections to numbers in charts, tables and to numbers in the text. The ready-to-publish format from Word eliminated the manual InDesign work and significantly improved the process effiency."