Workiva delivers new focused solution for ESEF compliance

Tech Intelligence Bulletin (HG Insights) – Workiva has launched W for ESEF, a focused solution to help European companies simplify compliance with the European Securities and Markets Authority (ESMA) requirements for European Single Electronic Format (ESEF) reporting.

W for ESEF, which is available in 23 European languages, offers a distinct subset of functionality for companies that want a targeted ESEF solution. Companies are able to build reports, tag data, manage processes with full transparency and generate their final submission package, all within the W for ESEF solution.

Key benefits

The W for ESEF solution, supported by Workiva’s 24/7 customer support team, is transforming how companies report under ESMA regulations. Here are the key benefits:

Virtual collaboration in the Cloud

  • Cloud-based solution and support teams are continuously available
  • Customers can access their data and keep working in real time with their teams from anywhere at any time in a single, secure environment

Simplified, integrated system of work

  • Single, up-to-date version eliminates need to synchronize multiple documents
  • One source of the truth auto-generates trusted data for filings
  • Document management is integrated with the Inline XBRL process
  • Audit trail and oversight functionality ensure data quality from start to finish
  • Controlled access to reporting sections increases transparency and streamlines audit processes
  • Ability to make changes in the document right before the filing deadline reduces organizational stress

Cloud security

  • Trusted by 75 percent of Fortune 500 companies
  • SOC 1 Type 2/ISAE 3402 Type 2 Report and SOC 2 Report, TRUSTe Privacy Shield Verification for GDPR Compliance and AES-128 and AES-256 data encryption
  • Customer data stored in secure servers in Europe

W for ESEF customers are able to upgrade to the full, end-to-end Workiva platform at any time, which is already used by thousands of enterprises across 180 countries, including 75 percent of Fortune 500 companies, and by government agencies. Workiva customers have linked over five billion data elements to trust their data, reduce risk and save time.