10 ESEF essentials

1. What is the ESEF reporting?

The ESEF reporting - European Single Electronic Format - is the electronic format in which all financial data will have to be published starting January 1st 2021.
On October 22nd 2013, the Official Journal of the European Union published the Transparency Directive 2013/50/UE of the European Parliament and Council. Its goal is to harmonize the flow of information from the issuers to their investors and competent authorities. It also aims to facilitate the acces, analysis and comparability of Annual Financial Reports in full disclosure.

2. Who does the ESEF concern?

All European companies quoted on a regulatory market will be obligated to publish this reporting starting January 2021. In France, quoted companies are defined by the article "L.211-1 du Code Monétaire et Financier".
Whether your accounts go by the IFRS standards or not, your AFR will have to evolve to the ESEF format. It doesn't only concern listed on the CAC40 or SBF120.

3. In what format should my reporting be? What are the Regulatory Technical Standards?

The ESMA established Regulatory Technical Standards called RTS, which specify the rules of establishment of this new format.
Every issuer must produce an Annual Financial Report composed of an XHTML file. If this issuer publishes consolidated accounts by IFRS standards, he must also tag the data by using the XBRL (iXBRIL) technology. The full report will then be composed of several files with various extensions (.xml, .xsd, .xhtml, .xbrl, .png...)

4. When are the first reportings due?

According to the Transparency Directive 2013/50/UE, publishing Annual Financial Reports in the ESEF format will be mandatory starting January 1st 2020.
The AMF (French authority on financial markets) specifies that these files cannot be deposited before the 1st of January 2021. Since the year Y-1 must appear in all financial statements, the file will contain the presentation of the 2019 and 2020 accounts.

5. Can my regulatory document be aesthetic?

Yes it can, by using our unique software.
Other solutions do not cover the regulatory aspect and produce files with a raw look. Therefore, some were afraid that the document would have less graphic qualities than the previous PDFs. Let's not forget that these document are mostly designed for your investors.
Pomdoc Pro makes it possible to make a nice, seducing document, coherent with your visual identity all the while integrating technical information (XBRL meta data) set by the Transparency Directive 2013/50/UE.

6. To whom is this reporting addressed? What is its goal?

With the old format (PDF), financial reports were mostly destined to human readers who came looking for specific information.
From now on, the digital world, FinTechs, LegTechs and AI will help you gain visibility by broadcasting your content to a large public.
It is, therefore, important to capitalize on aesthetics as well as the quality of your data.

7. How may I create my document easily?

Today, Pomdoc Pro is the only software on the market which helps you create a financial document easily, in compliance with the regulation and with the high quality of a marketing document.
With our software, your reporting is formatted according to predetermined graphic standards harmonized with all your companie's documents.
This means that the editing and formatting of the document are simplified by the means of a designed interface inside the Pomdoc Pro integrated editor. Spreadsheets are appended to your annual report directly from the ESEF taxonomy library. As a result, your consolidated accounts data will integrate automatically in your document. As for your data that is not referenced in the IFRS taxonomy, you may attach them simply as an extension to your ESEF reporting.
With Pomdoc Pro, you can then export your files in XHTML and iXBRL as well as PDF.

8. Can I tag my values directly from my document?

Yes and no.
Theoretically, it is possible to tag values directly in the document, but it is a tedious operation with a large margin of error.
That is why we recommend a subtler and simpler procedure:
- manual tagging is required for the Notes to the Financial Statement and general information (Bolt-on method)
- for digital data, directly using consolidated accounts data is mandatory (Built-in method)
With this method, the values you pass on to the regulator will not be rounded off and there will be no incoherences during technical controls established to validate your data.
Your readers will, of course, still be able to view K€ and M€ values for a better understanding of your document.

9. What should I do if my data is different from the IFRS taxnomy?

In this case, you have to create an extension to the taxonomy and attach it to the IFRS taxonomy by decomposing concepts (Disaggregation) or by combining concepts (Combination). This is what we call the anchoring principle.
For all the data that is not referenced inside the IFRS taxonomy, the operation needs to:
- state a new concept called "extension"
- link the extension inside the ESEF resporting's structure
Pomdoc Pro makes managing these extensions easy: all the processings are automated in one single "add a line" action in the spreadsheet.
In case the standard evolves, you will be able to either use the new IFRS concept or continue using your own extensions. However, for documents to be easily comparable from one issuer to another, we recommend using the IFRS taxonomy concepts rather than an extension.

10. How can I prepare for this new format?

In order for you to be best prepared for this ESEF format:

For you to be prepared for your first ESEF reporting, we plan on organizing informative breakfasts. Leave us your information to get an invitation!

Domus 5.3 is ready!

The collaborative software Domus – edited by Pomelo-Paradigm – continues to grow in order to fulfill as much of your demands as possible.

  • Gain time and independance

New features such as conditional page breaks and the creation of blank spreadsheets will help you make all the changes you need with just a few mouseclicks. Follow this link to discover the new hot keys!

  • Color your comments

With this new version of Domus, organize your comments by color and let the reviewers in read-only mode put their notes. Once all the content is integrated and the most of the changes have been made, each user can easily add his or her comments. You may, as in the previous version of Domus, export all this data and open the PDF with Acrobat Reader®; all the comments will appear.

  • Define categories to organize your documents

In this new version, we can configure various categories of documents in order to comply with your specific requests. Annual reports, quarterly reports, internal newsletters, product information sheets, subscription forms… use Domus for all the kinds of documents you need.

  • Benefit from an optimal view of your document

What you see is what you get! The way your document is displayed in Domus is getting closer to the final result. The position and size are now manged by the decimal: the fonts and various elements in your document keep the alignment you have defined. You can also check that the organization of your document reflects perfectly what you have chosen by using another new feature: the dual scan display.

Want to find out more about the many features available in Domus, the collaborative software? Please contact us to benefit from a free demo!

Looking for a collaborative software for your company? We also edit Pomdoc Pro in order to stock, consult and modify all your documents. Contact us to find out more!

The security and confidentiality of your personal data

In response to the increasing amount of personal and professional information stored in the cloud and because most of our financial transactions are dematerialized, data security is an essential component in the world today. A growing volume of information transits on the Internet, from holiday pictures to administrative documents, pay slips, medical information or anything related to online purchasing.
Based on these observations, we must be careful as to our data’s safety and property. To whom does the information I put online belong? Is it mine, or is it now the property of the company hosting the website I am on? In response to these growing concerns, the European Union implemented the GDPR four months ago.

The GDPR, for the right to private browsing

On April 14th 2016, the European Parliament adopted the General Data Protection Regulation in order to protect the personal data of European users. This regulation came into effect on May 28th 2018 in the 28 member states of the EU.
Four months after its implementation, the CNIL* draws up a rather positive report of the GDPR for professionals and individuals. For instance, the number of charges carried by individuals before the CNIL rose by 67% compared to the same period of time in 2017, which tends to show that private individuals seem to grasp the importance of protecting their personal data. The same assessment can be made for professionals: there are now 13.000 Data Protection Officers for some 24.500 organizations compared to 5.000 before the application of the European regulation.*

The importance of protecting your private information

Protecting a company’s data seems obvious but what about individuals? Why should one protect his or her personal information? If I have nothing to hide, why should I refuse that a company collects information regarding my profile and my browsing habits?
First of all, we in France have a right to privacy. Institutions and those who work in digital technologies must respect that right which is in our Universal Declaration of Human Rights. Secondly, when sharing one’s data with a third party – such as bank details – the information could always end up in the wrong hands. Thirdly, laws can evolve in France as well as in other countries; therefore, companies have the responsibility to preserve and protect our individual freedom as well as our personal and professional data.

Pomelo-Paradigm, a collaboration software publisher that respects your personal data

At Pomelo-Paradigm, we value your data’s privacy and confidentiality. That is why all the information you share on both our collaboration software – Domus and Pomdoc Pro – is hosted on secured servers in France. We also are commited to neither transmitting nore selling your data to a third party, whether you are an individual or a company. And finally, you can ask us to delete your account or your information without justification, as required by the GDPR.
Protecting your company’s data or your own is important to you? We would be glad to show you our collaboration software:
> Domus offers you everything you need to produce high-quality documents in a safe environment
> Pomdoc Pro is a collaborative editing and sharing tool which was designed to manage the manual and automatic production of your documents in a secure environment

Please contact us to find out more!


*the French independent administrative authority whose mission is to ensure data privacy laws
*RGPD : quel premier bilan 4 mois après son entrée en application ?

Domus 5.0

DOMUS Version 5 has just landed!
Discover an exciting array of new options to make your editing your documents even easier!

    • Add comments to your documents

 

  • You can now include comments in your documents and open a discussion with other users – this can then be closed with a click once the question has been dealt with. The comments and responses are integrated in your PDF export and are compatible with the comments function in Acrobat Reader®.
    • Manage formats with 3 or 4 columns

 

  • You can now create formats comprising 3 or 4 columns, as well as formalize more complex templates and highlight sections or chapters containing essential information. .
    • Define access rights more easily

 

  • Access rights have been completely rethought around the notion of groups. It’s now even easier to quickly define who can read or edit each section in your document.
    • Visualize your fonts in your browser preview

 

  • Your company’s fonts will now appear directly in your browser (WOFF technology)

 

Go to DOMUS project

Domus lands in Luxembourg

TODAY, 15% OF CAC 40 COMPANIES USE DOMUS TO CREATE THEIR REFERENCE DOCUMENTS. POMELO-PARADIGM HAS NOW LAUNCHED THIS SOLUTION IN LUXEMBOURG TO ASSIST ASSET MANAGERS IN PRODUCING AND EDITING DOCUMENTS.

FROM REFERENCE DOCUMENTS TO FINANCIAL REPORTS

Reference documents are informative documents which act as communication tools to give institutional investors, individual shareholders and financial analysts the information they need to assess a company’s activity, financial situation, results and prospects. They offer a comprehensive vision of the company for a given period, which facilitates financial operations and accompanies the prospectus.
The document is in many ways like a financial or activity report, but with a clear marketing dimension designed to communicate key ideas more effectively. In Luxembourg, investment funds are obliged to produce this kind of document and many also wish to promote their image to investors.

DOMUS HELPS YOU CREATE YOUR DOCUMENTS TO THE HIGHEST STANDARDS

One of the main difficulties is collecting the all information you need to include in the document. The data has to be extracted from your accounting system; the texts are written by different people including external actors; and the final figures may be validated by yet someone else.
DOMUS provides a work space where all collaborators can access and modify the document in their own time. The text content and tables are directly formatted, so users can instantly visualize the final layout.
Although presenting text, tables and images may seem simple, the bigger challenge is to ensure the finished product is coherent and easy to read. It does not just involve adding key figures, but also enhancing them for maximum impact and accessibility. This added graphic value is provided by a team of experts at your disposal.
POMELO-PARADIGM accompanies you in implementing your project including delivering copies, proofreading and translation, depending on your specific needs.
Creating this kind of document can be complex and time-consuming, but with DOMUS, it is faster and easier with more professional results.

TAILORED PRICING TO MANAGE YOUR BUDGET

The methodology used by large groups can be adapted to structures of any size to produce high-quality documents. You can choose from a range of templates or opt for a customized version. Each service is clearly priced, making it easy to keep an eye on your spending.
By visualizing your document in real-time, you have complete control at every step for optimized budget management.

CONTACT US TO FIND OUT MORE

For our Luxembourg launch, we would be delighted to present our solution and services to you, including an exclusive promotional offer.

The document revolution: from bureaucracy to communication

Most Word, Excel and PowerPoint users are only familiar with a small percentage of the functionalities on offer. Despite the implementation of certification programs (TOSA/MOI), user levels are far from homogenous and, in companies, this is reflected by the lack of graphic coherence in the documents produced.

When creating a document, formatting is added from the very beginning and subsequently altered by each contributor, which can lead to an incoherent, “unclean” document. It is, however, usually the last collaborator to intervene who finalizes the format and images, and the result differs greatly depending on his or her affinity with the software in question.

To avoid systematically redoing such a time-consuming task, it is important to have access to formatting solutions that are easy for users to apply to ensure homogenous results. Such editing tools need to prioritize style and enhance information without neglecting an ever more important collaborative dimension. They should also be compatible with different editing cycles and guarantee professional formatting.

Documents published on a large scale are a vehicle for the image of a company, collectivity or organization. Too often, documents simply analyze data, rather than focusing on readability and brand image.

It is increasingly important for companies producing marketing documents to embrace this by opting for solutions that enhance their image, enable collaborative editing and simplify the production process.

Pomelo-Paradigm provides innovative solutions to accompany you in this transformation.

Contact us today for more information.

Matthieu

How exactly is your data protected?

Protection is guaranteed by the company hosting your personal data. The level of protection is governed by the legal framework of the country, as well as the specific contract or Terms & Conditions. When transferring data, it is therefore important to check the level of protection provided by the company in question.

TRANSFERRING DATA TO A FRENCH COMPANY

Data transferred to French companies is carefully monitored and protected, which is very reassuring for users. French data hosting companies must conform to the French 1978 Data Processing, Files and Freedoms Act, European Directive 95/46/CE and Convention 108 established by the Council of Europe. In France, this legal framework is managed and enforced by the CNIL (Commission nationale de l’informatique et des libertés). In Europe, more and more countries are setting up similar independent data protection agencies. But, what about companies in non-European countries?

TRANSFERRING DATA FROM EUROPE TO AMERICAN COMPANIES

The situation is far less reassuring in relation to the recently signed UE-US Privacy Shield, which applies to data transferred from the European Economic Area to the United States. Negotiated in 2015-2016, it is based on specific commitments from the US government and a decision by the European Commission[1]. On 12 July 2016, the commission accepted the terms, which, in theory, comply with level of protection applied within the European Union. Rather than an international treaty, it is a series of measures regulating data transferred from a EU member state to the United States, vital since October 2015 when the Safe Harbor was deemed invalid by the European Court of Justice[2][3].

A CONTROVERSIAL MEASURE

From the very beginning, the agreement has received significant criticism. Max Schrems, the Austrian lawyer who destroyed Safe Harbor, put forwards his arguments against the Privacy Shield during the Cloud Independence Day, just before it was ratified[4]. He declared that, “the Privacy Shield poses both commercial and public policy problems.” He criticized the commercial use of personal data and highlighted that European companies still don’t have the same rights as their American counterparts. Furthermore, he cast doubt on the impartiality of the designated mediator, who is responsible to the US Foreign Office. Max Schrems emphasized that the problem of mass surveillance remained unchanged given that the text keeps the 6 exceptions provided for in Safe Harbor: “detecting and fighting activities by powerful foreign powers; anti-terrorism; fighting nuclear armament; cybersecurity; detecting and fighting threats to the United States and armed allies; and fighting trans-national criminal threats,” which is incompatible with to the case-law of the European Court of Justice.

French companies are subject to diverse personal data regulations, CNIL control and monitoring by the Financial Markets Authority, as well as European personal data rules (GDPR), which from 2018 will impose serious sanctions for infringements to this legislation, as does the Privacy Shield.

Through its president Isabelle Falque-Pierrotin, the Article 29 Data Protection Working Party declared that the Privacy Shield represented a “major step forward” in personal data protection at a press conference in Belgium on 13 April 2016. However, the G29 also expressed some reservations[5] and asked for clarification on certain points as, “it is difficult to understand all the documents and appendices. There isn’t just one document.” Falque-Pierrotin highlighted that the mass data surveillance carried out by US intelligence agencies, which undermined Safe Harbor, was still possible with the Privacy Shield. The European Court of Justice will give its verdict on the matter by the end of the year.

The G29 feel that the agreement does not provide enough guarantees in relation to the rights, powers and recourses of the ombudsperson. Despite representing major data protection advances[6], the agreement still raises numerous doubts, criticisms and points of clarification before users will be able to fully trust certified companies.

As a French company, Pomelo-Paradigm respects and protects your data/.

PomDoc – Enabling several people to work on a document at the same time

Discover the free version of the latest innovative technology from Pomelo-Paradigm.

PomDoc is a platform that allows several people to work simultaneously on a document. No more waiting, no more different versions, no more errors. Just lots of time and stress saved.

1. Quiz :

  • Have you ever received accurate meeting minutes within a reasonable timeframe?
  • Have you ever pulled your hair out trying to put together different versions of a document containing numerous modifications from different people?
  • Have you ever helped someone write an email or report, while fighting the overwhelming desire to grab the keyboard?
  • Have you ever lost the modifications you made to a document after it was synchronized?

If you answered yes to any of these questions, PomDoc could be the ideal solution for you.

2. How does it work?

  1. Create a new document directly in the system or upload an existing text document.
  2. Open the document and share it easily via email.
  3. Each contributor can freely visualize or modify the content.
  4. Export the document in Word or PDF format.

3. Who is it for?

The platform is designed to allow several people to work simultaneously on a document via any kind of device. It is an effective way to avoid sending lots of email, losing information and spending time merging versions, while maximizing the efforts made by each contributor e.g. style, corrections, validations and comments. PomDoc therefore targets anyone working on a shared document as part of a team or group regardless of geography and time differences.

If you often work on numerous, complex documents, watch this space, our professional version, Editeam, will soon be launched.

4. How could you use PomDoc?

  • To prepare the agenda before a meeting
  • To write the minutes as you go during a meeting, so everyone can add content and check information
  • Write a report, thesis or specifications without waiting for others or having to merge versions
  • Share a document with your different sites or offices across the world

 

 

Access PomDoc
View this project in the Lab

Pomelo-Paradigm 2016 winner: scientipôle initiative

Pomelo-Paradigm was delighted to be among the 2016 winners at the Scientipôle Initiative Awards.
This award is a big boost for the upcoming launch of our new Editeam solution for professionals. As well as providing financial support, Scientipôle Initiative gives us access to a vast network of Growth and Innovation experts and partners.
A big thank you to Julie, Laurent and Tristan who has accompanied us in this adventure.

Cooperation and collaboration in software

1. A little about semantics

The Collins Dictionary defines the terms as follows:
COLLABORATE: (intransitive) verb, often followed by “on”, “with”, etc. To work with another or others on a joint project.
From the low Latin collabōrāre, from Latin cum = together + labōrāre = to work.
COOPERATE: (intransitive) verb, to work or act together. To be of assistance or be willing to assist.
From low Latin cooperārī = to work with, combine, from Latin operārī = to work
From a purely semantic point of view, the two concepts largely overlap: they both represent a methodology for collaborative work (many people interacting to achieve a common goal). In spite of this, they are significantly different:
– As far as collaboration is concerned, all participants work together to achieve the goal. The resources and responsibilities are pooled together.
– As far as cooperation is concerned, the work to achieve the goal is split between the participants, each being solely responsible for completing the part they have been assigned. The resources and responsibilities are therefore divided.
Thus, depending on the adopted method of work, the work tools will be significantly different. On the one hand, cooperative processes require organizational tools (planning, monitoring tasks, creation of complex workflow, etc.). On the other hand, collaborative processes call for tools to monitor the work that is being done by other participants (monitoring revisions, annotations, validations, etc.)

2. Web 2.0 and the dawn of participatory software

With the rapid development of the so-called 2.0 web, applications have taken a collaborative or at least a participatory turn. It has become so easy for anyone to contribute to joint projects (online encyclopedia, blog, etc.), but these changes have been slow to penetrate the world of business.
Nevertheless, since the early 2000s, the development of SAAS solutions has enabled all participants to connect to centralized databases, and has hence facilitated the sharing and exchange of information that is the basis of collaborative work.
Moreover, certain types of software have been designed to manage more and more complex workflows, thereby meeting the growing needs for cooperation.

3. Collaborative work is first and foremost communicating with others

In the early 2000s, offices were stripped of their walls and the open-space became the norm. The aim was to bring teams closer together to help them communicate more easily and to increase their productivity. The idea was to limit the endless email exchanges and the tedious time-consuming task of reconciling file versions. Unfortunately, this need has not really been met by applications, which have not been able to integrate tools to work “together” properly. Even though some do allow you to work “at the same time”, you still have to resort to the phone (or a videoconference) for collaborative work to be carried through successfully.

4. Future collaborative arrangements

With globalization, collaborative exchanges have encountered new difficulties mainly owing to the time difference.
Indeed, it has become very difficult to work at precisely the same time and you often find yourself looking at work done by another person with no details or explanations (unless you try to fully document everything, which would be tedious).
Without being able to trace back at any time over the intellectual process that has produced a result, participants find themselves in a cooperative rather than a collaborative system.
The challenge for future applications will be to allow each participant to become fully involved in projects by being placed at the center of the problem rather than on the periphery.
To conclude, computer software often mixes up the concept of cooperation with the concept of collaboration, therefore overlooking one or the other.
It is therefore essential — when attempting to express one’s needs — to differentiate between the tools associated with each of these two perspectives in order to meet every objective.