Electronic Interface for Filing Annual Reports

Simple, just like online banking

Aleksandr Beloussov is the Project Manager of e-Annual Report

There’s nothing simpler than electronically filling a company’s annual report – 99% of Estonian companies do so. It’s so intuitive that it’s hard to believe that the e-annual report filing environment is unique in Europe and quite probably even in the world.

As late as 2009, electronically filing an annual report still meant uploading a PDF file via the e-Commercial Register company registration site, but the new solution allows the accounting data to be sent automatically as an xbrl file to the e-reporting environment. For business owners, the interface is convenient and time-saver.

But the environment has one additional advantage: the companies’ data is also ready for statistical processing in a heartbeat to be used by Statistics Estonia, financial analysts etc. Previously they had to be entered by hand and the Centre of Registers and Information Systems staffed 17 people for that purpose. Only three months later was the data finally in a proper machine-readable form. Now they are ready immediately after the report is filed.

Establishing an electronic annual report filing environment is also a long step toward reducing the burden of company reporting to, say, Statistics Estonia. After 2012, Statistics Estonia will be able to simply pull a large amount of data automatically from the annual reports.

The e-reporting environment has received international acclaim. This spring it came in among the best of the 460 entries at the UN-created World Summit Awards in 2011.

THE FACTS
The Centre of Registers and Information Systems’ electronic interface for filing annual reports has made it possible for companies to file their reports via the e-Commercial Register’s company registration site. It has made life easier for companies as well as the public sector, reducing the administrative burden and simplifying data processing.

Entrum

If you’re enterprising, the sky’s the limit!

Darja Saar is the Program Manager of ENTRUM

Doesn’t it seem strange that a number of Ida-Viru County youths who are into music have never seen the “Estonian Superstar” program on TV? And they don’t want to, because they feel they have no chance at making it there.
Being far from the capital Tallinn and the university city of Tartu, youth in Ida-Viru County are susceptible to pessimism. They feel they lack an opportunity to control their own destiny. They know fairly little about Estonian life, as they are not used to or proficient in using the Estonian-language media.

And that is why Eesti Energia’s Entrum programme is commendable, because it aims to raise the self-confidence of youth in Ida-Viru County and instil an enterprising mindset. Tens of companies and organizations and hundreds of individual standouts joined the programme, including the project patron, discus hurler Gerd Kanter, musician and businessman Vladimir Tšerdakov, film-maker Ilmar Raag, singer Tanja Mihhailova and music festival impresario Helen Sildna.

In the course of eight sessions, the top names in their respective fields met with the teens in Ida-Viru County, from fencing world champion Nikolai Novosjolov to Sampo Bank director Aivar Rehe. In addition the teens entered 80 business ideas which they had to implement themselves: The winner was a team named IN Spe; their project was an Ida-Viru County youth job market.

Besides the expected outcomes, Entrum also resulted in many positive side effects ranging from integration to collaboration. And even though the project in Ida-Viru County wound up this spring, Entrum head Darja Saar has her hands full of work – this academic year Entrum will move to the southern Estonian counties.

THE FACTS
Entrum was launched by Eesti Energia as a long-term programme for developing youth enterprise by teaching young adults how to be enterprising and active in life. Entrum’s philosophy is based on the conviction that society endures and grows thanks to people who dare to dream and who are able to turn ideas into action. During the academic year, students meet with outstanding individuals from many different walks of life to hear them speak about their experiences and discuss topics, such as courage to take risks, decision-making, responsibility and so on.
 

European Enterprise Awards 2011

The Best Entrepreneurial Representative 2011 competition took place this year for the sixth time and also serves as the preliminary round of the European Business Awards competition. The goal is to recognize and publicly promote Estonia’s best private enterprise initiatives. The five projects that make it to the final round this year were Enterprising Young Tartu County, Garage48, Tallinn Music Week, the Centre of Registers and Information Systems electronic interface for filing annual reports and Eesti Energia’s youth entrepreneurship program, ENTRUM. The last two tied for the award and both projects will advance to the European Business Awards.

In past years, the Estonian preliminary round winners have included such projects as the online environment TestMarket.eu, the Commercial Register’s company registration portal and the Ajujaht entrepreneurship competition.