Once upon a time, there was no other way. Companies looking to file their financial statements with the SEC were best left in the hands of a printer to help. Looking elsewhere simply wasn’t worth the risk. But times are changing and many companies are now asking themselves, “is the printer model right for my SEC filing process?” It’s a fair question where there are now mature, highly developed software platforms available to help take the weight of an SEC filing and enable you (and your team) to find success without relinquishing control.
As companies who have been using a printer have found, there are a number of drawbacks to the printer model that can end up actively creating stress at filing time, rather than taking it away. Here are three reasons you should look elsewhere.
- The Software
If you’re looking outside of the printer model, it’s easy to think that disclosure management software providers are similar. Pay close attention to the way individual solutions handle critical aspects such as filing period timelines, sectioning the document to allow better user collaboration, tracking changes, and built in analytics to help you research your peers. Asking your prospective provider questions about these features will clearly outline that not all providers are created equal.
- The Cost
This may seem obvious, but there’s more to your bill than the annual software costs. Understanding hidden charges such as same-day filing or other rush services protect you from the nickel and dime routine. Asking your provider about worst case scenario charges will help you understand what exactly it costs when you’re working right up until a filing deadline.
- The Support
You got this – but that doesn’t mean you need to go at it alone. Make sure you have the expert help in your corner should you need it. That means having a direct line of communication with support contacts in your region, not calling into a call center with specific questions only an expert could answer. What you don’t need in the final days, hours, or minutes before filing is a provider that either doesn’t have the answers or doesn’t have someone available to help you.
Looking for more detail on critical aspects of disclosure management software and a full list of key questions to ask your prospective provider? Download Certent’s, 3 Reasons to Question Using a Printer.