Regnology ESEF Software Solution

Introduction of the two companies and their collaboration

Founded in 2001, Regnology France (formerly known as Invoke) develops solutions for processing financial, tax, and regulatory information. Regnology France has distinguished itself among leading European software manufacturers through innovation and technological advancement, thanks to its unique software products. These utilize the latest technologies for reading, editing, producing collaboratively, validating, and analyzing financial information, with a particular focus on XBRL and inline XBRL (iXBRL) formats.

Thanks to this competency, the company can be an appropriate partner for both international regulatory bodies and financial institutions such as banks, insurance companies, and corporate groups, which need to comply with XBRL-based national and European regulatory requirements, such as CRD IV, Solvency II, or ESEF.

Since 2019, Regnology France has offered a solution specifically developed for the new Electronic Financial Reporting formats (ESEF), operational live from 2020, and has achieved significant market share in the communication of financial data for publicly traded companies preparing consolidated reports according to IFRS standards.

Currently, Regnology France serves over 1800 clients in France and abroad, spanning nearly every sector, and prepares tax returns for more than 15000 companies. It has offices in Paris, Rouen, Nantes, London, Luxembourg, Lisbon, and Stockholm.

The compliance of its products and services has enabled Regnology France to serve as a best practice in tax filings and capital adequacy reports.

Since 2009, Regnology France’s reporting solutions have also been capable of producing reports in XBRL format, boasting references both in France and internationally. Its ESEF reporting solution was developed based on its experience in XBRL and customer needs.

In 2023, Invoke was acquired by Nordic Capital-owned Regnology, becoming a significant global player in reporting solutions, and the company was renamed Regnology France. Regnology provides services in 60 countries, operates 17 offices, and employs over 1000 people. Its clients include both regulatory authorities and regulated institutions.

Ramasoft Kft., founded in 1997 and headquartered in Budapest, is owned by Hungarian private individuals. Its software is generally developed alone or in collaboration with the International Banking Training Center. In 2005, Ramasoft Data Service and IT Plc was established, which undertakes new developments for the group.

Ramasoft is a significant player in the Hungarian risk management and reporting systems market. It holds an 85% share in the Hungarian trading book reporting market, 30% in the bank capital requirement calculation market, and 60% in the bank XBRL solutions market.

To promote Regnology's ESEF software in Hungary, the two companies entered into collaboration: Ramasoft Data Service and IT Plc handles the software's sales in Hungary, as well as Hungarian language implementation (training, consulting, parameterization) and support services (help desk). Regnology participates in the project as a subcontractor, allowing Ramasoft to independently contract with clients and invoice fees.

Business Expertise and Technical Innovation

Regnology's strength lies in its ability to combine business experiences (taxation, consolidation, and reporting) with the technical innovations of its R&D center to create and market innovative products.

Its consultants actively participate in the work of professional associations representing accounting, taxation, consolidation, and reporting professions.

Furthermore, the Regnology group is represented in various technical bodies of standardizers, regulators, and reference administrations.

Regnology France is a founding member and executive of XBRL France and an active participant in the work of XBRL Spain, XBRL Europe, and XBRL International.

Regnology's Values

Regnology's primary goal is comprehensive and lasting customer satisfaction. This strong pursuit is reflected in the group's various values:

Expertise:

Regnology places great importance on its advisory and R&D teams and on developing its products with technical and business expertise. The R&D group continuously strives to meet client expectations by creating high-performance, innovative solutions and services.

Excellence:

The Regnology group offers integrated, simple, and high-performance solutions to optimize user productivity. The excellence of the solutions is based on the commitment of Regnology's more than 1000 employees.

Responsiveness:

The functional and technical hotline is available to all users of Regnology solutions. This represents a direct telephone contact between users and support teams, facilitating full, relevant, and prompt responses.

Proximity:

The implementation of Regnology solutions is carried out in cooperation with its clients, ensuring closeness, trust, and quality relationships. Regnology continuously listens to its clients, especially through "User Clubs," where the best practices and development needs articulated by users are shared and considered in developing offers.

Regnology References

The following diagram shows Regnology France's main clients, categorized into three main groups: regulatory authorities, banks and insurers, and corporations.

The following companies have chosen Regnology's ESEF solution: