Member in the Spotlight | Semansys
NBCC was pleased to interview our member, Brendan Smith, Service Manager at Semansys. Semansys is a leading supplier of software solutions for financial reporting and business monitoring based on semantics and XBRL. Semansys offers a unique total solution that increases speed, quality, and transparency in the exchange of information through 'the financial supply chain'. Semansys offers XBRL solutions for software suppliers, accountants, and entrepreneurs.
Company Background & Mission:
Can you share the founding story of Semansys and its mission in the realm of regulatory reporting?
Semansys embarked on its journey in the Netherlands with a clear vision: to bring financial and business reporting into the digital age. For decades, reporting was characterised by dense, static documents. Semansys set out to transform this process by enabling structured, machine-readable reporting, improving both efficiency and transparency.
At the core of the company’s mission lies a straightforward objective: to alleviate the burden of regulatory compliance and make it a more seamless and reliable process. Semansys’ XBRL-based tools support report creation, validation and collaboration, while also enabling direct submission of reports to regulators in line with evolving regulatory requirements.
Semansys is a leading provider of software solutions for XBRL-based financial and business reporting. How does your platform simplify and scale financial compliance for organisations?
Our platform uses taxonomy-driven interfaces and inline XBRL to integrate real-time validation, collaborative workflows and automated submission to regulators. This approach reduces manual handovers and minimises error risks, enabling organisations to meet reporting obligations efficiently, even at scale.
Core Services & Technology:
What are the core capabilities of the SemansysNext platform and API, and how do they support clients in creating, validating, and submitting compliant reports?
SemansysNext offers a comprehensive suite of structured reporting tools, including report authoring with integrated XBRL tagging, real-time validation against current regulatory guidelines, role-based access control and full audit trail support. The platform also provides direct submission channels to regulators.
In addition, the Semansys API allows partners and clients to integrate validation, packaging and submission processes into their own applications and workflows, supporting automation and system integration.
How do Semansys solutions support major reporting frameworks such as ESEF, ESG, CSRD, and SBR, and what impact does this have on reporting quality and timeliness?
Semansys provides built-in validation tailored to frameworks such as ESEF (ESMA rules), ESG/CSRD and SBR. This ensures reports are compliant by design, improving data quality and supporting timely submissions. Secure delivery integrations with HMRC, Digipoort and SBR Nexus further support
predictable and compliant filing processes, in line with the UK’s broader move towards digital-by-default regulatory compliance.
Client Benefits & Efficiency:
In terms of efficiency, what are the typical time and cost savings clients experience by using Semansys reporting tools?
Clients frequently report saving over 16 hours during the preparation phase and approximately 8 hours in cost saving through automation, centralised workflows and reduced manual corrections. Compliance and audit teams benefit from similar efficiencies when working with structured and validated reporting outputs.
How do auditors and compliance teams benefit from your audit-ready reporting environment and built-in validation workflows?
Auditors gain complete visibility into reported data through comprehensive validation logs, version history and audit trails, all accessible from a central platform. These features reduce rework, simplify verification and increase confidence in the integrity of submitted information.
Market Reach & Partnerships:
Semansys serves over 1,400 accountancy firms across approximately 30 countries. Could you share how you forged this international presence and the key partnerships behind it?
Semansys built its reputation in the Netherlands through strong local partnerships before expanding internationally. Its technology has been embedded into platforms such as IBM Cognos and is used in collaboration with consulting and accounting firms worldwide. Today, Semansys supports over 1,400 accountancy firms across around 30 countries, with growth supported by its connection to Netsam Participaties.
Innovation & Industry Trends:
How has Semansys contributed to the global adoption of the XBRL standard, and what role do you see XBRL playing in future regulatory ecosystems?
Semansys has been a staunch advocate for XBRL adoption for years through participation in standard-setting initiatives, including XBRL Europe, XBRL International and XBRL Netherlands, as well as by delivering production-grade tooling and OEM components. XBRL continues to play a central role in regulatory ecosystems, particularly in data-intensive frameworks such as CSRD, due to its structure, machine readability and support for assurance.
With increasing demand for structured financial reporting, how is Semansys staying at the forefront of regulatory transformation and technological innovation?
Semansys continuously updates its validation engines to reflect regulatory developments, expands API-based automation and extends its capabilities in sustainability reporting. As sustainability reporting becomes more regulated, assurance and data quality are increasingly as important as disclosure itself. Our goal is to stay ahead by enabling clients to confidently navigate evolving compliance landscapes with modern, scalable tools.
Challenges & Strategic Response:
What are the primary challenges clients face in the transition to digital and XBRL-based reporting, and how does Semansys help overcome them?
Organisations commonly face challenges related to taxonomy complexity, changing regulatory rules and fragmented reporting processes. Semansys addresses these through intuitive tagging interfaces, real-time validation and integrated submission pipelines, reducing the risk of late-stage compliance issues.
How does Semansys ensure data integrity, security, and compliance across evolving reporting standards?
The platform applies role-based access control, modern authentication mechanisms and comprehensive logging of all actions. Reports are submitted via regulated channels, ensuring traceability, auditability and compliance with governance requirements. The platform and organisation are designed to meet enterprise-grade requirements for information security, service reliability and data protection, in line with the expectations of regulators, auditors and assurance providers.
NBCC Membership & Collaborative Opportunities:
What motivated Semansys to join the NBCC, and how does membership support your global ambitions in the UK and Dutch markets?
The UK–Netherlands corridor holds immense significance for regulatory innovation, capital markets, and sustainability reporting. By joining NBCC, we gain access to influential leaders in both the UK and the Netherlands, particularly in the realms of financial and sustainability regulation. This membership provides a platform for fostering dialogue, collaboration, and shared innovation, especially as reporting standards converge across these markets. NBCC membership connects us with British and Dutch corporations, advisers, and regulators, making it an ideal avenue for shaping best practices and facilitating cross-border filings (such as ESEF) with shared technology.
Are there particular areas—such as sustainability reporting—where you see potential for collaboration with other NBCC members?
Sustainability reporting aligns seamlessly with the requirements of the CSRD and emerging ESG disclosures, which necessitate robust data models, controls, and assurance. We are eager to collaborate with NBCC members, including issuers, auditors, and software providers, to establish standardized data collection processes, ensure data quality, and develop audit-ready ESG packages.
Looking Ahead:
What are Semansys’s key goals over the next 3–5 years in terms of product evolution, geographic expansion, and client impact?
Semansys is focused on further integrating e-reporting and e-invoicing, including through its role as a Peppol Service Provider. This aligns with broader regulatory developments such as VAT in the Digital Age, which signal a shift towards more continuous, data-driven VAT compliance.
Additional priorities include deepening sustainability and CSRD capabilities, increasing automation for compliance frameworks such as ESEF, expanding globally through partnerships and API integrations, and helping clients achieve “first-time-right” submissions that save time and improve decision-making.
Our overarching goal is to make high-quality, compliant reporting the norm rather than the exception.
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