NEW YORK, Oct. 11, 2024 /PRNewswire/ — DataTracks, a global leader in cloud-based compliance reporting, is thrilled to announce the successful completion of the first wave of Tailored Shareholder Reports (TSR) iXBRL filings with the SEC, using the new TSR automation feature of its DataTracks RainbowTM software. This milestone demonstrates DataTracks’ ability to handle high-volume, complex filings with remarkable efficiency, speed, and accuracy.
With this new automation, DataTracks has achieved the fastest turnaround time (TAT) in the industry, helping clients stay ahead in a constantly changing regulatory environment. The enhanced TSR automation feature efficiently streamlines every stage of the filing process—from the initial tagging of report sections to accommodating last-minute revisions—within the shortest time frame. Additionally, the solution manages rich design inputs without requiring rework, highlighting its robust ability to adapt to diverse formats and regulatory requirements.
The TSR automation update is especially effective for handling large-scale filings involving hundreds of fund classes in a single report. The technology can automatically detect these classes using custom HTML markers and create precise extension taxonomy for the data to be tagged, ensuring every report is both accurate and complete. It also features an innovative templating method that accelerates the tagging of similar text blocks across different classes.
Traditionally time-consuming, tables and charts are now easier to manage with the new feature. It accurately identifies and tags data, whether it is on the face of the document or hidden within the HTML. The application also facilitates multiple team members to work on different sections of a report simultaneously, making the whole process more efficient and collaborative.
Sriram Srinivasan, Senior Vice President of US Business at DataTracks, said, “Completing the first wave of TSR filings with such efficiency is a testament to the capabilities of the new TSR Automation update within our cloud-based DataTracks RainbowTM software. Our focus on minimizing manual intervention and maximizing automation has enabled us to achieve unprecedented speed and accuracy, allowing our clients to meet their regulatory filing deadlines with confidence. We remain committed to driving continuous innovation in compliance reporting.”
DataTracks assists Mutual Funds and Exchange-Traded Funds directly and indirectly—through various financial printers and attorneys—in preparing TSR iXBRL reports for filing with the SEC.
About DataTracks
DataTracks has been successfully providing compliance reporting services for the last 20 years. Their full-stack solutions, tailored to help both enterprises and their partners, have helped close to 30,000 clients in 30+ countries seamlessly navigate diverse regulatory regimes worldwide. For more information, visit https://www.datatracks.com/us/.
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SOURCE DataTracks
