XBRL | Management Digital Data AG

XBRL - a standardized format for annual reports

Do you regularly send reports to various stakeholders such as authorities, investors or other interest groups? How do you ensure that your data is interpreted correctly by everyone, even if each stakeholder has their own expectations and ideas about how these reports should look and be structured?

The future of reporting

This is where XBRL (eXtensible Business Reporting Language) comes into play. XBRL is an open, XML-based "language" specifically designed to simplify and standardize the electronic exchange of business and financial data.

You can think of XBRL as a kind of common "vocabulary" that is used by all parties involved. Each XBRL "term", whether "revenue" or "profit", has a unique meaning that can be easily recognized and processed by computer systems. This semantic mapping ensures that your data is interpreted correctly by all recipients - whether human or machine.

Many countries and organizations have adopted XBRL as the standard for electronic business reporting, including the US, the EU with the ESEF Regulation and the European Sustainability Reporting Standards (ESRS).

Further information on the XBRL standard can be found on the XBRL International website.

Advantages for companies and authorities

Digital reporting based on XBRL makes it easier for investors and other users to search, extract and compare company information.
Unlike PDF, which is visually understandable but difficult for computers to process, the use of machine-readable formats such as XBRL improves the transparency and efficiency of capital markets.
This can ultimately lead to lower capital costs for companies and an increase in investment opportunities.
This in turn promotes economic growth.

XBRL taxonomy and XBRL tags

Basics of electronic reporting

The XBRL taxonomy is a standardized, extensible "dictionary".

It regulates and standardizes electronic reporting in an industry or business area and is based on internationally recognized guidelines such as IFRS or US GAAP. Some of the best-known XBRL taxonomies are the IFRS taxonomy, the US GAAP taxonomy, the EU ESEF taxonomy and the CSRD/ESRS taxonomy for the Corporate Sustainability Reporting Directive.

The taxonomy contains a structured collection of:

Concepts: the various items and terms used in annual reports, such as "sales", "profit" or "assets".
Dimensions: Additional information that can make the reports more detailed, such as by region, product or time period.
Formulas: Calculation rules between different concepts.
References: Links to external sources such as accounting standards.

Guide

Step by step to the XBRL report

Are you a listed company based in Switzerland whose shares are also traded on a European stock exchange? Then it is essential that your company prepares its annual financial statements in the European Single Electronic Format (ESEF) to ensure trust and transparency.

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Added value for capital markets

XBRL - the standard for digital corporate reporting

To take full advantage of digital reporting, digital reports should be complete, accurate and comparable. The use of XBRL tags, which link the data to standardized concepts, makes it possible to meet these requirements. This increases the transparency and efficiency of the capital markets.

However, establishing XBRL as the standard for electronic corporate reporting requires a deeper understanding of how structured, machine-readable data can be used effectively and integrated into workflows.

Our solution

The MDD platform - XBRL-certified

We have successfully integrated XBRL into our reporting platform for more than a decade. As an XBRL-certified company, we are able to create and process XBRL-compliant, machine-readable data. Our software fulfills all the technical requirements specified in the ESEF guidelines and offers

Management and extension of XBRL taxonomies.
Tagging of company data with XBRL concepts.
Creation and validation of XBRL instance documents.
Full integration into our existing reporting platform.

Get to know our solution

We take a "built-in" approach with our solution. This means that all of our XBRL functionality is seamlessly integrated into our platform, allowing us to provide our clients with an efficient and user-friendly experience. We are convinced that this approach allows us to reduce the complexity of XBRL reporting and help our customers optimize their reporting processes.

"With our XBRL-certified platform, companies can fulfill their XBRL reporting obligations easily, efficiently and error-free."

Anja Meyer, MDD Business Development & Special Projects

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