Clicky

IORP II Reporting

Improve the way you
automate collaborate validate



Request for trial



IORP II


The new European regulation for occupational pension funds, IORP II, has come into force from January 2019. The aim of this regulation is improve governance for pension funds and increase protection for pensioners.

The European regulator EIOPA (European Insurance and Occupational Pensions Authority) has mandated XBRL (eXtensible Business Reporting Language) as the standard of reporting of pension fund information.

Starting from the 3rd quarter of 2019, Pension funds will have to report their quarterly and annual financial reports to their respective National Competent Authorities (NCA’s).

The set of information that needs to be reported is provided by the regulator in the form of QRT’s (Quantitative Reporting Templates), along with the taxonomy that needs to be used for converting the data to XBRL format.

The reported data must be validated against a set of rules provided by the regulator.

DataTracks Pension Funds software can be used by firms to bring their reportable data from multiple systems, populate the QRT’s and validate the templates against the pension funds taxonomy.

Hosted on the cloud, the solution is easy to use and also gives complete control with security over the data.”

Features


Flexible Data Entry
Our solution allows three methods of data entry. First, a simple manual entry. Secondly, automated mapping of data from source files in spreadsheets directly to a relevant cell and thirdly by interfacing directly with the underlying financial systems

Collaborate between users
Enables reviewing, commenting and moderating files concurrently between users. Our spreadsheet-like interface permits easy navigation and control for quick execution.

Compare versions

Gives users the ability to compare filings to prior periods to ensure consistency of filing.

Validate report conforming to EIOPA business rules
Inbuilt validation engine ensures that your report adheres to the EIOPA’s latest validation rules. Errors listed out can be viewed online as well as downloadable as spreadsheet. Possible corrections are also suggested thereby reducing review time.

Audit Trail
Our solution maintains a cell by cell, user specific audit trail providing the ability to track any changes that are made to a particular cell and also highlights the user accountable for the change.

Agility to regulatory changes
Along with the enactment of regulations, market has witnessed that guidelines can be improved and modified during and after implementation. Aware of this fact, DataTracks solution is designed to be agile and adaptable, responding to regulatory changes quickly. For our clients this translates into better efficiency and reduced total cost of ownership.

Benefits

  • Robust validation mechanisms to generate error-free reports
  • Prompt updates to taxonomy
  • World-class customer support
  • Client references
    • Flexible data input methods
    • Familiar spreadsheet-like user interface
    • Validation errors highlighted in early stages of data input
    • Collaboration between users with comments
    • Hosted in Tier 1 secure cloud
    • ISO certified
    • Granular audit trial
    • Role-based user-access privileges
    • Flexible pricing model based on filing frequency
    • Discounts on volume and multi-year contracts

    Why DataTracks


    We are regulatory reporting experts

    90% of our employees are finance experts with XBRL skills and knowledge in multiple accounting standards and regulations. We have prepared compliance reports for over 12 regulators.

    We have proven track record

    Built on 14+ years of experience, we have successfully delivered more than 172,000 compliance reports to over 17,000 clients.

    Customers love us!

    We celebrate our customers’ success and about 90% of our customers over the years have used our services again.

    We assure data confidentiality

    All your data is stored securely in firewall-protected data centres located in European cities.

    We care about quality and accuracy

    We strive to maintain the highest standards in terms of quality. We rank among the top providers in quality surveys.

    We price it right

    Our cost savings as a result of efficient global operations mean competitive prices for our clients.

    172000 compliance reports
    17000 Clients
    12 Regulations
    14 years experience

    Client Speak

    Try for 15 days

    Free Customer support.Generate test reports.




    Next Steps