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Customer Stories Customer Stories
Equity Management & Reporting

Accounting Team Benefits from Disclosure Reporting Automation

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Equity Management Customer Profile

Company Name:
Confidential

Industry:
Manufacturing

Client:
Director of Accounting

Key Result:
Reliable regulatory compliance and significant time savings

You wouldn’t believe the amazing transformation from the before to the after with Certent.”

The Situation

An international, publicly-traded manufacturer was managing its stock plan reporting through a spreadsheet program that it had long ago outgrown. The accounting team faced time consuming, inaccurate calculations due to unwieldy, complex spreadsheets filled with macros and pivot tables. Further, the stock plan was becoming an increasingly material expense for the CEO and CFO to sign off on in their SEC filings.

The Transformation

The director of accounting brought in the Certent software as a solution because it focused on ASC 718 compliance instead of just transactions and activity reporting. With Certent taking care of the analysis and disclosure reporting, the accounting department was spared countless hours of work.

The team loved how Certent kept the company current with the regulatory requirements, updating the system as needed to accommodate the latest rules. The accounting director felt that Certent handled compliance much, much better than its competitors. “Anybody can handle a transaction, report the criteria related to the transaction, build a database and spit out a report, but what Certent built is complex enough to report back the required compliance disclosures. Our auditors loved it!”

The transformation for the accounting team was dramatic. “I would absolutely recommend Certent to others. Anyone who uses Certent will be amazed at the amount of time they’ll save and the headaches they’ll eliminate. It’s a complete package.”

The Results

“Certent saved us hours and hours of work. We used to have 40 spreadsheets that we built by hand. As new disclosures came out, we would figure out how to get to the required disclosure. With Certent, it probably took us no more than 4 hours at the end of the quarter. It was also so much more accurate than our previous process. Our auditors did not have nearly as many questions as they used to have at interim audit period.”

The director and her team derive the most value from the strength of the accounting knowledge inherent in the software, the responsiveness they receive from the support team, and the user friendly, complete technology solution.

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