Tabular – The T4U Alternative
Are you looking for a low cost, easy to use alternative to EIOPA’s T4U Tool?
The Tool for Undertakings (T4U) was developed by EIOPA as a software tool to help insurers create and validate XBRL reports to comply with Solvency II reporting requirements.
In July 2016 EIOPA announced that T4U would not be supported beyond the first half of 2017, allowing reporting entities to utilise T4U only using the current applicable Solvency II taxonomy. Consistent with this, EIOPA have recently published the T4U source code, while in parallel confirming that no further versions of T4U will be developed to meet future taxonomy updates, rather the work programme for the first half of 2017 will be limited to support only.
Given the continued evolution of the regulatory landscape with EIOPA anticipating at least two scheduled taxonomy updates per year, this essentially decommissions T4U as a viable tool for insurers to use beyond the next year therefore creating a material business risk for users relying on that tool into the future.
Solvency II Solutions has worked to develop an easy to use, low cost solution to ensure a seamless transition from using T4U to our alternative proven solution Tabular, and we would welcome the opportunity to discuss how we can assist you beyond T4U.
To find our more, please contact our Sales team:
See all the features and watch a Video on Tabular here: