At Edgar Agents, we pride ourselves on being a full service financial printer that helps companies with all their compliance needs from EDGAR and XBRL to financial printing and newswire services. In fact, a number of our earlier blog posts highlight these services.
In addition to filing financial information electronically with the SEC, companies are required to provide investors with printed information from proxy statements to earnings reports. Did you know that Edgar Agents has a comprehensive financial printing and typesetting service available for public companies, mutual funds, and IPOs?
Read our Typesetting and Financial Printing FAQ to learn more:
Does Edgar Agents offer typesetting and print services?
Edgar Agents is a financial compliance services group with extensive typesetting and printing services to handle everything from Annual Reports, Proxy Statements, Quarterly reports, Prospectuses, IPO equity offerings, mutual funds and other financial information. For more than 15 years, our printing experts have helped companies manage their entire project from EDGARizing, typesetting, printing, coordinating shipping distribution to the transfer agent, and full mailing capabilities to shareholders.
Leveraging automated technology, we provide single source publishing directly from typeset to EDGAR in a matter of minutes for accurate revisions and seamless proof distributions. Our enhanced programming and quality control procedures ensure integrity that you can count on.
How does Edgar Agents distinguish itself in the competitive financial services industry?At Edgar Agents, we take pride in delivering the highest level of customer service in the industry. This includes providing a concierge-level of service where we guide customers through the entire financial printing process and take a proactive approach to meeting your internal deadlines as well as SEC deadlines. Our team is focused on quality, accuracy and timeliness for every project we work on – each and every day.
Unique to the industry, we offer fixed rate pricing and custom packages. We never charge for rush projects or overnight and weekend projects. Our team is available 24×7 to help you at no extra cost. The rate you are quoted is the rate you are charged.
What is a single source typesetting platform?Edgar Agents leverages a single source platform for typesetting and financial printing. This allows critical, market sensitive filings to be drafted and executed seamlessly.
Specifically, the term single source refers to the single data file that is used to generate the EDGAR HTML submission and the typeset print version of a document. Using a single source platform ensures that the data for both the print document and filing submission is identical.
Having a single data source provides a significant time advantage. Your company or working group can concentrate on crafting the deal, not expending valuable energy on reviewing the content.
Does the Edgar Agents typesetting platform offer “granular” SEC compliant marking?Yes, all Edgar Agents typeset projects support SEC compliant granular marking, whereby individual words and number changes are discretely marked for each group drafting session.
Draft distributions of current marked and cumulatively marked proofs will ensure that your working group will be able to clearly see how and where the document has evolved since the last working group distribution.
Does the typesetting platform support distribution of changed pages only?Yes, our current marked drafts will contain only those pages that have changed specifically to the drafting session.
Will you be able to match and follow our style specifications and work with our art director?Edgar Agents welcomes stylized annual reports and specialized typesetting projects. We are happy to work with your team to ensure content and style accuracy. Reviewing your unique style requirements before your project deadline will allow our team to prepare a proof of concept for your art director.
For example, Edgar Agents typesetting process includes creating templates and applying style sheets to generate print ready documents. We create customized style sheets that conform to any style when generating output. Because we are able to work with any typesetting software such as XPP, InDesign and QuarkXPress, we guarantee high quality visual and structured layouts that are always accurate and secure.
Can you help us with the images in our document?
Edgar Agents can recreate and redraft line charts, organizational charts, pie charts and structural diagrams ensuring that the filing and the final printed document will have sharp high resolution images that are color corrected for printing.
Do you provide high resolution PDFs for typesetting?For all typesetting projects we provide our customers with high resolution print ready PDFs, Microsoft Word write backs or HTML exports. Other formats are available on request.
If I use your typesetting services, do I have to use your printing services?Customers can choose to use Edgar Agents for just typesetting and/or printing services. Traditionally customers use both our typesetting and printing services as it is more cost effective and we can offer custom pricing packages. By combining both services you are assured the highest quality result from beginning to end.
What type of printing technology does Edgar Agents use?Edgar Agents uses state-of-the-art digital or offset web presses for all our financial printing. By working directly with our print team on your print project, Edgar Agents can get your books printed on schedule and delivered cost effectively. Many deals that clear overnight can be on the street by morning.
#GetToKnowEdgarAgents Today! Follow us on Twitter @EdgarAgentsLLC.
Friday, February 20, 2015
Tuesday, February 17, 2015
Photo Album: Edgar Agents at Innovations 2015
Last week Edgar Agents attended the Brewer Sports Symposium VII which included their inaugural Innovations Conference in Miami.
With the cold, snowy weather we are having in New York and New Jersey, the Edgar Agents sales team - led by Teresa Cordero, VP of Sales - was excited to spend a few days in sunny South Beach.
With the cold, snowy weather we are having in New York and New Jersey, the Edgar Agents sales team - led by Teresa Cordero, VP of Sales - was excited to spend a few days in sunny South Beach.
Thomas Tapeh, CEO of RO2T & TLC Agencies at #Innovations2015
John H. Shaw of Maxim Group at #Innovations2015
Patrick Bertagna, CEO of GTX Corp with
Ambassador Jack Brewer of The Brewer Group with
Ritesh M. Veera of the Maxim Group with
Stephanie Lee of Strategic Capital Markets with
Conference Season: Brewer Sports Symposium, Roth Conference, and Growth Cap Expo
Last week Edgar Agents attended the Brewer Sports Symposium VII which included their inaugural Innovations Conference in Miami. With the cold, snowy weather we are having in New York and New Jersey, our sales team was excited to spend a few days in sunny South Beach.
However, this event was more than sun and sand – it was an opportunity for mid-market and emerging public and private companies to showcase their products, services, and programs and to meet with potential strategic partners. Networking events during the conference provided companies opportunities to meet private and institutional investors.
We talked with a number of companies and investors at the event – including some ex-NFL players turned investors. While the Super Bowl remained a hot topic, discussions quickly focused on business opportunities, financial reporting requirements and IPO opportunities. The overall mood of the conference was energetic (see pictures from the event below).
Attendees we spoke with talked about the cost burden of financial reporting and the rising costs of filing IPOs. It’s easy to see why this is a concern – costs can quickly add up with unanticipated overtime charges. At Edgar Agents, we understand that coordinating financial reporting requirements doesn’t always happen during traditional office hours – especially when you are rushing to meet SEC deadlines. Attendees had positive comments when they learned that Edgar Agents offered flat-rate pricing and custom pricing packages. We never charge for rush or overtime work. The rate we quote you is the rate you are billed.
If you are interested in learning more about Edgar Agents contact us today for a services quote. Or stop by and visit us at these upcoming conferences:
March 8-11, 2015 – Roth Conference in Dana Point, CA
April 12-14, 2015 – Growth Capital Expo in Las Vegas
However, this event was more than sun and sand – it was an opportunity for mid-market and emerging public and private companies to showcase their products, services, and programs and to meet with potential strategic partners. Networking events during the conference provided companies opportunities to meet private and institutional investors.
We talked with a number of companies and investors at the event – including some ex-NFL players turned investors. While the Super Bowl remained a hot topic, discussions quickly focused on business opportunities, financial reporting requirements and IPO opportunities. The overall mood of the conference was energetic (see pictures from the event below).
Attendees we spoke with talked about the cost burden of financial reporting and the rising costs of filing IPOs. It’s easy to see why this is a concern – costs can quickly add up with unanticipated overtime charges. At Edgar Agents, we understand that coordinating financial reporting requirements doesn’t always happen during traditional office hours – especially when you are rushing to meet SEC deadlines. Attendees had positive comments when they learned that Edgar Agents offered flat-rate pricing and custom pricing packages. We never charge for rush or overtime work. The rate we quote you is the rate you are billed.
If you are interested in learning more about Edgar Agents contact us today for a services quote. Or stop by and visit us at these upcoming conferences:
March 8-11, 2015 – Roth Conference in Dana Point, CA
April 12-14, 2015 – Growth Capital Expo in Las Vegas
And What About This Booming IPO Activity?
Could this be the age of IPOs? I think “yes.”
In 2014, there were 275 IPOs. We haven’t seen these kinds of numbers since the dot-com era. According to a Money Morning report (titled The Five Biggest 2015 IPOs to Watch), companies that IPOed in 2014 were on average more successful than their counterparts 10 years ago. New stocks have averaged a 13.1% jump from their offer prices this year. Over the previous 10 years, new stocks gained 9.8% on average, the report states.
And 2015 is off to a great start with extremely successful IPOs like Box Inc. and Shake Shack Inc., both valued in the billions on opening day. Box Inc. priced its shares at $14, above the expected range of $11 to $13, and trading opened at $20.20. The company was valued at $1.7 billion. Shares of gourmet hamburger chain Shake Shack Inc. soared 150 percent in their first few minutes of trading, valuing the company at nearly $2 billion.
Currently in the works are seven new IPOs which are expected to raise $9 billion this week alone. They are Inovalon Holdings (INOV), Sol-Wind Renewable Power, LP (SLWD), Great Ajax (AJX) Invitae (NVTA), Bellerophon Therapeutics (BLPH), AutoGenomics (AGMX) and Avenue Financial Holdings (AVNU). Other high profile companies expected to file for IPO in 2015 include Uber, Airbnb Inc. and GoPro. All this IPO activity is a great sign that the economy is growing and the financial markets are strong.
Any company that has been through an IPO knows there are a lot of factors to consider when you announce IPO plans – producing financials, filing with the SEC, meeting with investment banks, and communicating to potential investors. When I talk to companies considering an IPO, there is a growing concern from CFOs about the overall cost of an IPO, which can run into the hundred thousands.
For many companies, financial-printing bills are their third-largest expense, after lawyer and banker fees, according to an article in the Wall Street Journal. The WSJ article mentions how some major financial printers inflate their rates, sometimes by hundreds of thousands of dollars. With IPOs on the rise, it appears that some printers are looking to capitalize on this trend. However, this practice hurts the credibility of the entire financial printing industry.
At Edgar Agents, we do things differently. We offer flat rates that help keep costs down. The Edgar Agents IPO package consists of one price for printing the initial registration statement, amendments, correspondence filings and two print runs. With fixed fees and custom pricing packages (if required), IPOs can trust that the final bill will not have unexpected charges.
If your company or a company you work with is considering an IPO in 2015, you can trust Edgar Agents to keep IPO costs down while ensuring that the company is compliant and under budget. Call Edgar Agents today to find out more about our services and how our customized pricing packages can help you save money.
In 2014, there were 275 IPOs. We haven’t seen these kinds of numbers since the dot-com era. According to a Money Morning report (titled The Five Biggest 2015 IPOs to Watch), companies that IPOed in 2014 were on average more successful than their counterparts 10 years ago. New stocks have averaged a 13.1% jump from their offer prices this year. Over the previous 10 years, new stocks gained 9.8% on average, the report states.
And 2015 is off to a great start with extremely successful IPOs like Box Inc. and Shake Shack Inc., both valued in the billions on opening day. Box Inc. priced its shares at $14, above the expected range of $11 to $13, and trading opened at $20.20. The company was valued at $1.7 billion. Shares of gourmet hamburger chain Shake Shack Inc. soared 150 percent in their first few minutes of trading, valuing the company at nearly $2 billion.
Currently in the works are seven new IPOs which are expected to raise $9 billion this week alone. They are Inovalon Holdings (INOV), Sol-Wind Renewable Power, LP (SLWD), Great Ajax (AJX) Invitae (NVTA), Bellerophon Therapeutics (BLPH), AutoGenomics (AGMX) and Avenue Financial Holdings (AVNU). Other high profile companies expected to file for IPO in 2015 include Uber, Airbnb Inc. and GoPro. All this IPO activity is a great sign that the economy is growing and the financial markets are strong.
Any company that has been through an IPO knows there are a lot of factors to consider when you announce IPO plans – producing financials, filing with the SEC, meeting with investment banks, and communicating to potential investors. When I talk to companies considering an IPO, there is a growing concern from CFOs about the overall cost of an IPO, which can run into the hundred thousands.
For many companies, financial-printing bills are their third-largest expense, after lawyer and banker fees, according to an article in the Wall Street Journal. The WSJ article mentions how some major financial printers inflate their rates, sometimes by hundreds of thousands of dollars. With IPOs on the rise, it appears that some printers are looking to capitalize on this trend. However, this practice hurts the credibility of the entire financial printing industry.
At Edgar Agents, we do things differently. We offer flat rates that help keep costs down. The Edgar Agents IPO package consists of one price for printing the initial registration statement, amendments, correspondence filings and two print runs. With fixed fees and custom pricing packages (if required), IPOs can trust that the final bill will not have unexpected charges.
If your company or a company you work with is considering an IPO in 2015, you can trust Edgar Agents to keep IPO costs down while ensuring that the company is compliant and under budget. Call Edgar Agents today to find out more about our services and how our customized pricing packages can help you save money.
Who is Edgar Agents?
Working with a filing agent is all about trust. Public companies trust filing agents with their financial data. They trust the agent to format, convert and file the information with the SEC on-time and accurately. The first step to building trust with a filing agent is to understand who the agency is and how they work.
Companies that work with Edgar Agents know they can trust us with all their filing needs from EDGAR to XBRL to financial printing requirements. If you haven’t worked with Edgar Agents before, we have pulled together some commonly asked questions about the company.
Who is Edgar Agents?
For more than 15 years, Edgar Agents has been filing documents with SEC for public companies. From annual 10-Ks, quarterly 10-Qs to 8-Ks, Registration Statements and Section 16 filings, we guide customers through each step of the filing process by providing unparalleled customer service and accurate and prompt turn around times, all at an incomparably competitive price. Our team of filing experts is dedicated to helping public companies accurately communicate their financial data to investors and regulators through EDGAR and XBRL filings; financial printing and newswire services.
Do you offer more than EDGAR filing services?
Yes, we are a full service filing agent and can help with much more than just traditional EDGAR filings. Over the past five years we have greatly expanded our service offering to include XBRL conversions and tagging, IPO services, typesetting and financial printing.
How many filings does Edgar Agents perform?
Edgar Agents is one of the Top 10 most active full service SEC filing agents in the US and one of the Top 20 for all filing agents, law firms and transfer agents. In 2014, we handled 3,418 LIVE filings. Over the past two years we have consistently grown our filings by more than 20%, making us one of the top 5 fastest growing SEC filers. You can view the SEC’s Most Active Filing Agents list at www.secinfo.com/$/SEC/Agents.asp.
How many publicly traded companies do you work with?
We work with over 500 publicly traded companies on a regular basis. Our customers range from small and medium sized companies to large Fortune 100 companies. We have long-standing relationships with the top corporate law firms.
What is the company’s philosophy?
At Edgar Agents, we view trust, integrity and quality of service as our greatest asset. Our philosophy is to provide the best financial reporting solutions possible at minimal burden to the client. We are dedicated to providing our customers with the highest quality service and believe in partnering with our customers to help them meet all their financial reporting needs.
What sets Edgar Agents apart from other filing agents?
The Edgar Agents leadership team is comprised of experts in the industry who have specialty knowledge around EDGAR, XBRL and printing. Our team members have held positions at many of the larger filing agencies.
What sets Edgar Agents apart from other companies in this space is our commitment to customer service and our personalized approach to client needs. Our customers work with dedicated filing experts who create personalized SEC filing services to meet their specific requirements. As a result, customers quickly build a high-level of trust with Edgar Agents.
While many filers approach every SEC filing the same regardless of the company type or size, we understand that every business is unique. We treat all our customers – small and large – with the individual attention required to ensure that every SEC filing is processed correctly. We do not outsource our services, allowing our CPA experts to work with you on all your filings. For example, changes to the EDGAR or XBRL are taken over the phone and a proof is sent within minutes. A dedicated EDGAR account manager confirms receipt of your files within moments of receiving the email.
What is Edgar Agents pricing structure?
Edgar Agents prides itself in its transparent billing practices with clear flat rate pricing. Unlike others in the industry, we do not charge extra for rushed jobs or overnight and weekend jobs. For pricing regarding our specific services or to learn about our IPO pricing package, please contact info@edgaragents.com
#GetToKnowEdgarAgents Today! Follow us on Twitter @EdgarAgentsLLC.
Companies that work with Edgar Agents know they can trust us with all their filing needs from EDGAR to XBRL to financial printing requirements. If you haven’t worked with Edgar Agents before, we have pulled together some commonly asked questions about the company.
Who is Edgar Agents?
For more than 15 years, Edgar Agents has been filing documents with SEC for public companies. From annual 10-Ks, quarterly 10-Qs to 8-Ks, Registration Statements and Section 16 filings, we guide customers through each step of the filing process by providing unparalleled customer service and accurate and prompt turn around times, all at an incomparably competitive price. Our team of filing experts is dedicated to helping public companies accurately communicate their financial data to investors and regulators through EDGAR and XBRL filings; financial printing and newswire services.
Do you offer more than EDGAR filing services?
Yes, we are a full service filing agent and can help with much more than just traditional EDGAR filings. Over the past five years we have greatly expanded our service offering to include XBRL conversions and tagging, IPO services, typesetting and financial printing.
How many filings does Edgar Agents perform?
Edgar Agents is one of the Top 10 most active full service SEC filing agents in the US and one of the Top 20 for all filing agents, law firms and transfer agents. In 2014, we handled 3,418 LIVE filings. Over the past two years we have consistently grown our filings by more than 20%, making us one of the top 5 fastest growing SEC filers. You can view the SEC’s Most Active Filing Agents list at www.secinfo.com/$/SEC/Agents.asp.
How many publicly traded companies do you work with?
We work with over 500 publicly traded companies on a regular basis. Our customers range from small and medium sized companies to large Fortune 100 companies. We have long-standing relationships with the top corporate law firms.
What is the company’s philosophy?
At Edgar Agents, we view trust, integrity and quality of service as our greatest asset. Our philosophy is to provide the best financial reporting solutions possible at minimal burden to the client. We are dedicated to providing our customers with the highest quality service and believe in partnering with our customers to help them meet all their financial reporting needs.
What sets Edgar Agents apart from other filing agents?
The Edgar Agents leadership team is comprised of experts in the industry who have specialty knowledge around EDGAR, XBRL and printing. Our team members have held positions at many of the larger filing agencies.
What sets Edgar Agents apart from other companies in this space is our commitment to customer service and our personalized approach to client needs. Our customers work with dedicated filing experts who create personalized SEC filing services to meet their specific requirements. As a result, customers quickly build a high-level of trust with Edgar Agents.
While many filers approach every SEC filing the same regardless of the company type or size, we understand that every business is unique. We treat all our customers – small and large – with the individual attention required to ensure that every SEC filing is processed correctly. We do not outsource our services, allowing our CPA experts to work with you on all your filings. For example, changes to the EDGAR or XBRL are taken over the phone and a proof is sent within minutes. A dedicated EDGAR account manager confirms receipt of your files within moments of receiving the email.
What is Edgar Agents pricing structure?
Edgar Agents prides itself in its transparent billing practices with clear flat rate pricing. Unlike others in the industry, we do not charge extra for rushed jobs or overnight and weekend jobs. For pricing regarding our specific services or to learn about our IPO pricing package, please contact info@edgaragents.com
#GetToKnowEdgarAgents Today! Follow us on Twitter @EdgarAgentsLLC.
What happens if President Vetos Bill (H.R. 37)?
As the blizzard in the Northeastern U.S. winds down, a blizzard in Washington D.C. gains momentum. Too many opposing parties are in conflict over H.R. 37, now H. Res. 27, and each party holds a valid point. Nevertheless, the bill, which is now being considered in a Senate Committee, could eventually be vetoed by U.S. President Barack Obama and all will remain as it was.
“The bill would undermine the Dodd-Frank Wall Street Reform Act ‘while benefiting Wall Street and other narrow special interests,’” the President stated in an article in USA Today.
But in the meantime, opposing parties continue to debate their respective sides. Investors and financial analysts say that the SEC allows too many exceptions for public companies filing their financials and oppose a bill that will exempt companies with less than $250 million in revenues from filing their financials in XBRL. They argue that with more exceptions, the less data there is to compare, making for an inaccurate analysis of companies and certain markets. Let’s face it, complicated and sketchy data will scare investors from investing in a company. It makes one wonder if the extra costs to file in XBRL are not only worth the extra effort but essential to a company’s longevity? Companies will sometimes need investor funding to keep their operations going and that is less likely to happen without transparent data.
In another argument, the SEC advocates that the data in XBRL has helped the agency search for patterns of possible fraud or misreporting. This should be a good thing, no? Not so much for smaller companies because they claim that although XBRL may benefit investors, analysts and the SEC, the cost of XBRL is too high for a company trying to get its business up and running in the first five crucial years. However, this argument also does not hold much weight as reported in an earlier post because the average annual cost of XBRL is only $10, 000, and far less than that with some filing agents such as Edgar Agents.
As the argument goes back and forth between the different groups, the White House threat confirms XBRL is here to stay, at least for now. So, how do we move forward? Best bet is for everyone to start shopping for a filer that will work with your requirements and within your budget.
Shopping for a better filer might be the answer to cutting costs whether you are continuing with your XBRL operations or are an IPO just getting started. Be sure you are prepared with the proper tools and tips in order to find a filer that will customize your specific needs at a reasonable rate. Also, be sure to read our latest blog posts for questions to ask and tips to consider before shopping for a filer. Do not hesitate to call an Edgar Agent or visit www.edgaragents.com if you have specific questions or want to learn more about our services.
“The bill would undermine the Dodd-Frank Wall Street Reform Act ‘while benefiting Wall Street and other narrow special interests,’” the President stated in an article in USA Today.
But in the meantime, opposing parties continue to debate their respective sides. Investors and financial analysts say that the SEC allows too many exceptions for public companies filing their financials and oppose a bill that will exempt companies with less than $250 million in revenues from filing their financials in XBRL. They argue that with more exceptions, the less data there is to compare, making for an inaccurate analysis of companies and certain markets. Let’s face it, complicated and sketchy data will scare investors from investing in a company. It makes one wonder if the extra costs to file in XBRL are not only worth the extra effort but essential to a company’s longevity? Companies will sometimes need investor funding to keep their operations going and that is less likely to happen without transparent data.
In another argument, the SEC advocates that the data in XBRL has helped the agency search for patterns of possible fraud or misreporting. This should be a good thing, no? Not so much for smaller companies because they claim that although XBRL may benefit investors, analysts and the SEC, the cost of XBRL is too high for a company trying to get its business up and running in the first five crucial years. However, this argument also does not hold much weight as reported in an earlier post because the average annual cost of XBRL is only $10, 000, and far less than that with some filing agents such as Edgar Agents.
As the argument goes back and forth between the different groups, the White House threat confirms XBRL is here to stay, at least for now. So, how do we move forward? Best bet is for everyone to start shopping for a filer that will work with your requirements and within your budget.
Shopping for a better filer might be the answer to cutting costs whether you are continuing with your XBRL operations or are an IPO just getting started. Be sure you are prepared with the proper tools and tips in order to find a filer that will customize your specific needs at a reasonable rate. Also, be sure to read our latest blog posts for questions to ask and tips to consider before shopping for a filer. Do not hesitate to call an Edgar Agent or visit www.edgaragents.com if you have specific questions or want to learn more about our services.
Will XBRL Exemption Be Too Risky for Small Cap Companies?
In an earlier blog post, we discussed the cost burden of XBRL and the ongoing debate related to H.R 37. With the new resolution passed by the house last week, H. Res. 27, the Senate will now have an opportunity to vote on the XBRL mandate.
News outlets (see recent coverage in Accounting Today) report that the Senate is likely to pass the bill making small businesses with revenues less than $250 million exempt from the XBRL requirement. The intention is to reduce financial reporting costs burdens to help small businesses focus on innovation.
The current bill states that companies with revenues less than $250 million are exempt for 5 years from XBRL filings. While this might provide small businesses with relief now, what happens in 5 years?
Unless the matter is taken up again in 5 years, small companies will be expected to file both EDGAR and XBRL. Companies may find that revamping their XBRL operations in 5 years will be more costly than implementing procedures today.
Currently, the cost of XBRL conversions is less than $10,000 annually (“Financial Executive International survey” page 19). However, the effort and resources required for companies to get up to speed after five years could be double that. Several steps will be involved including training of internal staff to review the XBRL; integrating financials to flow within the XBRL system; and retagging financial notes with the latest GAAP taxonomies.
Retagging financial notes will likely be the most costly. As it stands now, SEC filers like Edgar Agents are able to seamlessly roll financials in from the last quarter so all the latest taxonomies and mandates apply. It would be time consuming if a filer stopped reporting in XBRL now then started up again in five years. They would need to basically start over from scratch. The final bill to incorporate XBRL could significantly exceed expectations if a company’s SEC filer charges extra fees for overtime hours.
If resources and costs remain the argument against XBRL, delaying the implementation may not be the answer. It’s true that the process of converting financial data to XBRL has advanced over the last few years and will continue to get easier (and more affordable) for companies. But, if companies need to reconvert their filings into XBRL after 5 years, companies could be faced with higher costs of implementation down the road.
At Edgar Agents, we help companies meet the XBRL requirements in a cost effective way. We guide companies through the process and offer specialized tools that make implementing XBRL easier, such as our XBRL widget. More importantly, we help companies adjust and meet new SEC requirements while improving transparency to investors.
While the debate continues, one thing is for sure – XBRL will continue to evolve and Edgar Agents will be there to help companies navigate it today and in the future.
News outlets (see recent coverage in Accounting Today) report that the Senate is likely to pass the bill making small businesses with revenues less than $250 million exempt from the XBRL requirement. The intention is to reduce financial reporting costs burdens to help small businesses focus on innovation.
The current bill states that companies with revenues less than $250 million are exempt for 5 years from XBRL filings. While this might provide small businesses with relief now, what happens in 5 years?
Unless the matter is taken up again in 5 years, small companies will be expected to file both EDGAR and XBRL. Companies may find that revamping their XBRL operations in 5 years will be more costly than implementing procedures today.
Currently, the cost of XBRL conversions is less than $10,000 annually (“Financial Executive International survey” page 19). However, the effort and resources required for companies to get up to speed after five years could be double that. Several steps will be involved including training of internal staff to review the XBRL; integrating financials to flow within the XBRL system; and retagging financial notes with the latest GAAP taxonomies.
Retagging financial notes will likely be the most costly. As it stands now, SEC filers like Edgar Agents are able to seamlessly roll financials in from the last quarter so all the latest taxonomies and mandates apply. It would be time consuming if a filer stopped reporting in XBRL now then started up again in five years. They would need to basically start over from scratch. The final bill to incorporate XBRL could significantly exceed expectations if a company’s SEC filer charges extra fees for overtime hours.
If resources and costs remain the argument against XBRL, delaying the implementation may not be the answer. It’s true that the process of converting financial data to XBRL has advanced over the last few years and will continue to get easier (and more affordable) for companies. But, if companies need to reconvert their filings into XBRL after 5 years, companies could be faced with higher costs of implementation down the road.
At Edgar Agents, we help companies meet the XBRL requirements in a cost effective way. We guide companies through the process and offer specialized tools that make implementing XBRL easier, such as our XBRL widget. More importantly, we help companies adjust and meet new SEC requirements while improving transparency to investors.
While the debate continues, one thing is for sure – XBRL will continue to evolve and Edgar Agents will be there to help companies navigate it today and in the future.
Silver Lining for IPOs Amidst Recent Bad News
It was recently discovered that companies preparing for their initial public offering (IPO) were being overcharged for printing and typesetting services, according to an article in the Wall Street Journal, making financial printing and typesetting the third largest cost in the IPO process. A trend like this can really hurt an issuer engaged in a stressful IPO. However, there is a way to avoid this. Printers that offer custom pricing packages and printing solutions for IPOs allow companies to stay within their budget.
An initial printing estimate can increase by several thousands of dollars by the end of the process due to ambiguous billing. Extra costs with confusing language and lack of transparency are a dangerous combination, but printing firms that offer fixed fees and custom pricing are the silver lining. For instance, the Edgar Agents fixed rate for IPOs consists of one price for printing the initial registration statement, amendments, correspondence filings and two print runs. With fixed fees or even custom pricing, IPOs can trust that the final bill will not be padded with unexpected charges.
Nevertheless, some issuers might still want to work with the larger firms because their lawyer or banker encouraged it. According to the WSJ article, companies preparing to go public normally choose a printer recommended by their lawyer or banker, and many times these professionals choose a printer because of their long term relationship with a sales person or customer representative. But before making a decision, issuers should know about fixed priced printing solutions like the single source processing option available from Edgar Agents.
With single source processing, Edgar Agents can streamline the entire printing procedure as all outputs are updated instantaneously, increasing efficiency and accuracy. The single source web-based editor and real-time editing assures everyone is always working on the most current version, even simultaneously. Changes flow through the entire document and the system is always highly secure.
Private companies engaged in an IPO cannot afford to be taken advantage of and need partners they can trust to deliver the highest quality service at affordable prices. As the WSJ article points out, going with the largest printer might not be the right partnership for your company. The Edgar Agents philosophy is to always provide the best solutions possible at minimal burden to the client. For more information about Edgar Agents, visit our site www.edgaragents.com or simply call an Edgar Agent representative at 732-780-5036.
An initial printing estimate can increase by several thousands of dollars by the end of the process due to ambiguous billing. Extra costs with confusing language and lack of transparency are a dangerous combination, but printing firms that offer fixed fees and custom pricing are the silver lining. For instance, the Edgar Agents fixed rate for IPOs consists of one price for printing the initial registration statement, amendments, correspondence filings and two print runs. With fixed fees or even custom pricing, IPOs can trust that the final bill will not be padded with unexpected charges.
Nevertheless, some issuers might still want to work with the larger firms because their lawyer or banker encouraged it. According to the WSJ article, companies preparing to go public normally choose a printer recommended by their lawyer or banker, and many times these professionals choose a printer because of their long term relationship with a sales person or customer representative. But before making a decision, issuers should know about fixed priced printing solutions like the single source processing option available from Edgar Agents.
With single source processing, Edgar Agents can streamline the entire printing procedure as all outputs are updated instantaneously, increasing efficiency and accuracy. The single source web-based editor and real-time editing assures everyone is always working on the most current version, even simultaneously. Changes flow through the entire document and the system is always highly secure.
Private companies engaged in an IPO cannot afford to be taken advantage of and need partners they can trust to deliver the highest quality service at affordable prices. As the WSJ article points out, going with the largest printer might not be the right partnership for your company. The Edgar Agents philosophy is to always provide the best solutions possible at minimal burden to the client. For more information about Edgar Agents, visit our site www.edgaragents.com or simply call an Edgar Agent representative at 732-780-5036.
4 New Year’s Resolutions for Public Companies
It’s January 2015! What is your New Year’s resolution? If you don’t have one, it’s not too late. While many set personal goals such as spending more time with their family or getting in shape, it’s also a great time to think about professional goals.
The experts at Edgar Agents have come up with 4 Resolutions to help public companies (and their financial, legal, executive and IR teams) better manage all their financial reporting requirements. They are:
Get Organized
A key requirement for filing on time is being organized and understanding the process. Create a check list of what needs to get done, who is responsible, and when is should get done (in an ideal world). Print the check list and have it handy. When filing season approaches, you will be organized and ready!
Leverage Technology
Technology is all around us, leverage online tools, software and widgets to help simplify Section16 reporting or even posting XBRL filings to corporate/investor relations sites. Want to learn more about the tools available for this? Edgar Agents can help with our XBRL Widget or EA16 portal.
Stay Connected
Stay on top of all the latest industry news and SEC guidelines using social media. Here are just a few recommendations on who to follow on twitter @FEIblog, @dailyFEI, @Complianceweek, @XBRLInt, @SEC_News, @XBRLnews, and don’t forget @EdgarAgentsLLC.
Partner Up
Public companies don’t have to go it alone when it comes to financial reporting. Partnering with a full-service SEC filing agent, such as Edgar Agents, will help simplify your filings by guiding you through the process. The right partner will take time to understand your business and specific requirements. They will work with you through every step – 24×7 – to make sure your filings are accurate.
Now these are easy resolutions for any company to keep this year! Don’t forget to download your 2015 SEC filing calendar and stay ahead of upcoming deadlines.
The experts at Edgar Agents have come up with 4 Resolutions to help public companies (and their financial, legal, executive and IR teams) better manage all their financial reporting requirements. They are:
Get Organized
A key requirement for filing on time is being organized and understanding the process. Create a check list of what needs to get done, who is responsible, and when is should get done (in an ideal world). Print the check list and have it handy. When filing season approaches, you will be organized and ready!
Leverage Technology
Technology is all around us, leverage online tools, software and widgets to help simplify Section16 reporting or even posting XBRL filings to corporate/investor relations sites. Want to learn more about the tools available for this? Edgar Agents can help with our XBRL Widget or EA16 portal.
Stay Connected
Stay on top of all the latest industry news and SEC guidelines using social media. Here are just a few recommendations on who to follow on twitter @FEIblog, @dailyFEI, @Complianceweek, @XBRLInt, @SEC_News, @XBRLnews, and don’t forget @EdgarAgentsLLC.
Partner Up
Public companies don’t have to go it alone when it comes to financial reporting. Partnering with a full-service SEC filing agent, such as Edgar Agents, will help simplify your filings by guiding you through the process. The right partner will take time to understand your business and specific requirements. They will work with you through every step – 24×7 – to make sure your filings are accurate.
Now these are easy resolutions for any company to keep this year! Don’t forget to download your 2015 SEC filing calendar and stay ahead of upcoming deadlines.
Want to Reduce Your XBRL Costs and Improve Transparency?
Is it possible to reduce XBRL costs and improve transparency with an efficient SEC filing agent that offers tools to address the major pressure points?
The simple answer is yes! SEC filing agents adjust their services and operations to meet any SEC policy changes. More importantly, they adjust to meet their customer’s concerns– whether that be cost, time or service needs. For example, with the right filing tools the XBRL problem doesn’t need to be a problem at all.
Let’s look more in-depth at XBRL. First, it’s important to understand that the SEC requires public companies to post XBRL documents on their Website if they plan to seek funding from investors. However, companies often complain that the latest financial reporting methods are too taxing and costly. On the flip side, investors are suspicious of companies that are not transparent with their financials. And, regulators insist that a company’s financials are meant to unearth a company’s financial stability, not hide it. While there are many opposing comments between the three parties, each makes a legitimate point.
The problem could easily be solved with tools that address these concerns, like our XBRL Widget. With this tool, companies receive a widget that enables them to post their financial documents on their website within 2 hours of filing with the SEC. All the most current documents filed to the SEC are displayed on the corporate website and are updated regularly.
With a simple tool to eliminate the extra cost of in-house IT personnel, companies can stay compliant, save money and time, and still satisfy all parties involved. It is a win-win solution. Couple this solution with our customized packaging for your company’s specific SEC filing needs, and you have a winning combination.
While US government entities and advocacy groups continue to discuss the future of XBRL, Edgar Agents continues to evolve and produce innovative solutions to simplify your company’s individual filing needs.
For more information about Edgar Agents tools and solutions, contact an agent today at www.edgaragents.com.
The simple answer is yes! SEC filing agents adjust their services and operations to meet any SEC policy changes. More importantly, they adjust to meet their customer’s concerns– whether that be cost, time or service needs. For example, with the right filing tools the XBRL problem doesn’t need to be a problem at all.
Let’s look more in-depth at XBRL. First, it’s important to understand that the SEC requires public companies to post XBRL documents on their Website if they plan to seek funding from investors. However, companies often complain that the latest financial reporting methods are too taxing and costly. On the flip side, investors are suspicious of companies that are not transparent with their financials. And, regulators insist that a company’s financials are meant to unearth a company’s financial stability, not hide it. While there are many opposing comments between the three parties, each makes a legitimate point.
The problem could easily be solved with tools that address these concerns, like our XBRL Widget. With this tool, companies receive a widget that enables them to post their financial documents on their website within 2 hours of filing with the SEC. All the most current documents filed to the SEC are displayed on the corporate website and are updated regularly.
With a simple tool to eliminate the extra cost of in-house IT personnel, companies can stay compliant, save money and time, and still satisfy all parties involved. It is a win-win solution. Couple this solution with our customized packaging for your company’s specific SEC filing needs, and you have a winning combination.
While US government entities and advocacy groups continue to discuss the future of XBRL, Edgar Agents continues to evolve and produce innovative solutions to simplify your company’s individual filing needs.
For more information about Edgar Agents tools and solutions, contact an agent today at www.edgaragents.com.
Happy Holidays from Edgar Agents
Edgar Agents would like to wish you a Happy Holiday and a wonderful New Year! We know that this is a busy time of year for many and we would like to take a moment to thank our clients for choosing us as their full-service SEC filing agent. As a thank you, we have created a 2015 SEC Filings Calendar, designed to keep you on track with next year’s filing deadlines.
Get your calendar now: 2015 Filing Calendar.docx
As you get ready for your next filing, remember that the experts at Edgar Agents are here to help you through every step of the filing process from Edgar/XBRL conversions and filings to the printing/typesetting, and newswire services.
Have a safe and wonderful Holiday Season from everyone at Edgar Agents!
Get your calendar now: 2015 Filing Calendar.docx
As you get ready for your next filing, remember that the experts at Edgar Agents are here to help you through every step of the filing process from Edgar/XBRL conversions and filings to the printing/typesetting, and newswire services.
Have a safe and wonderful Holiday Season from everyone at Edgar Agents!
Tired of SEC financial reporting contracts?
The end of the year is approaching. For finance and investor relations departments, this is a busy time. You need to ensure that all sales, expenditures and operational costs are accounted for. Annual reports and other company materials need to be coordinated. And, 2015 budgets need to be finalized.
This is also the time many public companies are renewing contracts with vendors for SEC filing services, financial printing and newswire services. In many cases this means working with multiple vendors and managing many renewals. This can take valuable time and require many purchase order forms.
If your contracts are up for renewal, it’s time to evaluate the benefits of a full-service financial reporting firm that offers comprehensive services from EDGAR and XBRL filing to financial printing to newswire service. A full-service reporting company offers many benefits:
At Edgar Agents, we provide comprehensive financial reporting services. Our customers count on us for all their financial reporting needs from printing to SEC reporting services and even newswire services. If you are looking for a partner to help simplify your SEC reporting and communication needs, contact us today.
Be sure to also read the Top 5 Questions to ask Your SEC Filing Agent.
This is also the time many public companies are renewing contracts with vendors for SEC filing services, financial printing and newswire services. In many cases this means working with multiple vendors and managing many renewals. This can take valuable time and require many purchase order forms.
If your contracts are up for renewal, it’s time to evaluate the benefits of a full-service financial reporting firm that offers comprehensive services from EDGAR and XBRL filing to financial printing to newswire service. A full-service reporting company offers many benefits:
- A dedicated account rep who understands all of your financial reporting needs and requirements from filing documents with the SEC to communicating with your investors.
- Full service providers have experts across a range of reporting needs not just in one discipline. You will have a team of experts working together to ensure that your specific requirements are implemented across all your filing needs.
- Your filing agent becomes a trusted partner not just a third party vendor. A full service company, like Edgar Agents, guides you through the process and works with you at every step to ensure accuracy and timeliness for all your reporting needs.
- Working one provider streamlines billing and provides you with more negotiating power to lower your reporting costs without sacrificing quality or customer service.
At Edgar Agents, we provide comprehensive financial reporting services. Our customers count on us for all their financial reporting needs from printing to SEC reporting services and even newswire services. If you are looking for a partner to help simplify your SEC reporting and communication needs, contact us today.
Be sure to also read the Top 5 Questions to ask Your SEC Filing Agent.
Edgar Agents to Sponsor equities.com's Small-Cap Stars Conference
Click here to to read the full press release.
NEW YORK, Dec. 12, 2014 (GLOBE NEWSWIRE) -- Edgar Agents, LLC. (Edgar Agents), a full-service SEC filing agent, today announces that it will serve as a Silver Sponsor of the inaugural equities.com Small-Cap Stars Conference at the Nasdaq MarketSite on December 18, 2014. The event brings together the brightest emerging growth Nasdaq-listed small-cap companies to present and network with an exclusive group of top-level institutional investors.
As one of the fastest growing XBRL and EDGAR filing agencies in the United States, Edgar Agents provides public companies a range of SEC filing services including XBRL tagging, EDGAR filing, Section 16, typesetting, financial printing and newswire services. Attendees at the Small-Cap Stars Conference will learn about Edgar Agents' brand promise of providing unparalleled customer service to guide companies through all their financial reporting needs.
"We are excited to be sponsoring the inaugural equities.com Small-Cap Stars Conference at the Nasdaq MarketSite," said Steve Yakubov, President of Edgar Agents, LLC. "This conference will enable our team to connect with clients and prospects as a means to validate our promise to them that they can count on Edgar Agents for all their SEC filing needs."
Equities.com designed the Small-Cap Stars Conference to create exclusive networking sessions while focusing on quality participation through a more intimate format geared toward deal making. This full day event includes a keynote presentation by money manager and small-cap pioneer Ken Fisher, CEO of Fisher Investments, and a special guest presentation by Rock & Roll Hall of Famer Gene Simmons.
To learn more about Edgar Agents, stop by our booth at the Small-Cap Stars Conference or contact Steve Yakubov at steve@edgaragents.com to schedule a meeting.
About equities.com
equities.com is an online financial publication and social community for self-directed investors, public and private companies, market experts, and professional service providers across the global capital markets. The equities.com Issuer Dashboard is an ideal SaaS platform to effectively manage corporate communication and investor awareness campaigns, engage with market intermediaries and financial advisors, and research industry peers. Registered members can leverage our market-leading commentary and content curation, as well as our proprietary research tools, such as the Small-Cap Stars, which spotlights promising growth companies through our institutional-quality algorithms, and our robust do-it-yourself Equities Valuation Analysis (E.V.A.) research reports. Go to www.equities.com/community/register to become a member.
About Edgar Agents, LLC.
Long term relationships flourish best when they are accompanied by trust and integrity. At Edgar Agents, we view trust, integrity and quality of service as our greatest asset. We manage all your SEC filing needs. From annual 10-Ks and quarterly 10-Qs to 8-Ks, Registration Statements and Section 16 filings, we will provide you with unparalleled customer service, accurate and prompt turn around, all at an incomparably competitive price. To learn more about Edgar Agents, please visit www.edgaragents.com.
Media Contact:
Alicia Libucha
Edgar Agents, LLC.
857-205-0919
NEW YORK, Dec. 12, 2014 (GLOBE NEWSWIRE) -- Edgar Agents, LLC. (Edgar Agents), a full-service SEC filing agent, today announces that it will serve as a Silver Sponsor of the inaugural equities.com Small-Cap Stars Conference at the Nasdaq MarketSite on December 18, 2014. The event brings together the brightest emerging growth Nasdaq-listed small-cap companies to present and network with an exclusive group of top-level institutional investors.
As one of the fastest growing XBRL and EDGAR filing agencies in the United States, Edgar Agents provides public companies a range of SEC filing services including XBRL tagging, EDGAR filing, Section 16, typesetting, financial printing and newswire services. Attendees at the Small-Cap Stars Conference will learn about Edgar Agents' brand promise of providing unparalleled customer service to guide companies through all their financial reporting needs.
"We are excited to be sponsoring the inaugural equities.com Small-Cap Stars Conference at the Nasdaq MarketSite," said Steve Yakubov, President of Edgar Agents, LLC. "This conference will enable our team to connect with clients and prospects as a means to validate our promise to them that they can count on Edgar Agents for all their SEC filing needs."
Equities.com designed the Small-Cap Stars Conference to create exclusive networking sessions while focusing on quality participation through a more intimate format geared toward deal making. This full day event includes a keynote presentation by money manager and small-cap pioneer Ken Fisher, CEO of Fisher Investments, and a special guest presentation by Rock & Roll Hall of Famer Gene Simmons.
To learn more about Edgar Agents, stop by our booth at the Small-Cap Stars Conference or contact Steve Yakubov at steve@edgaragents.com to schedule a meeting.
About equities.com
equities.com is an online financial publication and social community for self-directed investors, public and private companies, market experts, and professional service providers across the global capital markets. The equities.com Issuer Dashboard is an ideal SaaS platform to effectively manage corporate communication and investor awareness campaigns, engage with market intermediaries and financial advisors, and research industry peers. Registered members can leverage our market-leading commentary and content curation, as well as our proprietary research tools, such as the Small-Cap Stars, which spotlights promising growth companies through our institutional-quality algorithms, and our robust do-it-yourself Equities Valuation Analysis (E.V.A.) research reports. Go to www.equities.com/community/register to become a member.
About Edgar Agents, LLC.
Long term relationships flourish best when they are accompanied by trust and integrity. At Edgar Agents, we view trust, integrity and quality of service as our greatest asset. We manage all your SEC filing needs. From annual 10-Ks and quarterly 10-Qs to 8-Ks, Registration Statements and Section 16 filings, we will provide you with unparalleled customer service, accurate and prompt turn around, all at an incomparably competitive price. To learn more about Edgar Agents, please visit www.edgaragents.com.
Media Contact:
Alicia Libucha
Edgar Agents, LLC.
857-205-0919
Join Us @ the Small-Cap Stars Conference
What does Ken Fisher, Gene Simmons of KISS and Edgar Agents have in common? We will all be attending the inaugural equities.com Small-Cap Stars Conference on December 18 at the NASDAQ MarketSite.
With keynote sessions from the CEO of Fisher Investments and a Rock Hall of Famer, the conference is bound to be interesting and entertaining. I anticipate a number of discussions around fostering brand awareness, emerging technologies and financial transparency. More importantly, some of the most interesting Small-Cap Companies will be presenting at the conference.
This is one of the key reasons Edgar Agents is pleased to be a Silver sponsor of the event. Not only is the event a great networking opportunity, but it is an opportunity for us to showcase the value of a full service SEC filing agent that can handle all the SEC reporting, financial printing and newswire services required for small-cap companies.
There is a lot of debate in the industry about XBRL among small-cap companies. Full service filing agents, such as Edgar Agents, guide companies through the reporting process, to simplify the system. More importantly, Edgar Agents offers more than just XBRL. We provide online platform for Section 16 and Form D filings, typesetting, financial printing and newswire services – all at an affordable price, 24×7.
Companies concerned about XBRL or have questions regarding SEC filings are welcomed to meet with Edgar Agents representatives at the Small-Cap Stars Conference to discuss their SEC reporting needs and how we can help.
To learn more about Edgar Agents, or to schedule a meeting at the Small-Cap Stars Conference on December 18, contact Steve Yakubov at steve@edgaragents.com.
With keynote sessions from the CEO of Fisher Investments and a Rock Hall of Famer, the conference is bound to be interesting and entertaining. I anticipate a number of discussions around fostering brand awareness, emerging technologies and financial transparency. More importantly, some of the most interesting Small-Cap Companies will be presenting at the conference.
This is one of the key reasons Edgar Agents is pleased to be a Silver sponsor of the event. Not only is the event a great networking opportunity, but it is an opportunity for us to showcase the value of a full service SEC filing agent that can handle all the SEC reporting, financial printing and newswire services required for small-cap companies.
There is a lot of debate in the industry about XBRL among small-cap companies. Full service filing agents, such as Edgar Agents, guide companies through the reporting process, to simplify the system. More importantly, Edgar Agents offers more than just XBRL. We provide online platform for Section 16 and Form D filings, typesetting, financial printing and newswire services – all at an affordable price, 24×7.
Companies concerned about XBRL or have questions regarding SEC filings are welcomed to meet with Edgar Agents representatives at the Small-Cap Stars Conference to discuss their SEC reporting needs and how we can help.
To learn more about Edgar Agents, or to schedule a meeting at the Small-Cap Stars Conference on December 18, contact Steve Yakubov at steve@edgaragents.com.
Is there a cost burden with XBRL?
Lately, I have read a number of articles related to the future of XBRL and the Small Company Disclosure Simplification Act which is part of H.R. 5405, a financial services bill passed by the US House of Representatives on September 16, 2014. While it’s unlikely that this bill will go anywhere before the end of the year, the passing of the bill in the House showcases the frustration businesses experience with XBRL.
For two decades companies have been reporting their financials to the SEC through the EDGAR system. Adding XBRL into the mix creates another layer of reporting for companies and requires more resources. For smaller public companies, this might seem like an unfair cost burden to place on them.
However, if you dig deeper into the cost argument, it doesn’t hold much weight. Today, there are a number of reporting service companies, such as Edgar Agents, that help both large and small public companies convert their financials into XBRL. The cost of XBRL does not have to run in the tens of thousands. In fact, it is a fraction of that. For example, a survey done by Financial Executive International found that the average annual cost for small companies to file these reports is $10,000 (page 19).
At Edgar Agents, the average XBRL cost is much lower. We guide companies through the EDGAR and XBRL processes ensuring that everything is done accurately and on-time. We even offer an XBRL widget that makes posting XBRL documents on your corporate or investor relation website simple. As a trusted partner, we take the burden out of XBRL tagging for our customers.
Benefits of XBRL
There is an overwhelming need to bring more transparency to financial reporting. XBRL is designed to provide financial information in a standardized data format. This makes it easier for investors and analysts to compare and analyze10-K and 10-Q filings. It improves the flow of business information to the financial community (and third party investment sites). More importantly it helps companies gain control of their own internal reporting processes to streamline the reporting process to the SEC.
If some businesses are exempt from XBRL, the benefits of standardized data diminishes as financial analysts and the public will not be able to compare financial data accurately. It’s estimated that 60% of companies fall under the $250 million exemption. If only 4 out of 10 companies have to provide XBRL data, the goal of financial transparency is hardly met.
As the debate over XBRL continues into 2015, the cost argument no longer needs to be a barrier for any company – regardless of size. The process for converting financial data to XBRL has advanced over the last few years making it easier than ever (and more affordable) for companies to provide XBRL data to investors.
Contact Edgar Agents today to learn more about our affordable XBRL tagging services.
For two decades companies have been reporting their financials to the SEC through the EDGAR system. Adding XBRL into the mix creates another layer of reporting for companies and requires more resources. For smaller public companies, this might seem like an unfair cost burden to place on them.
However, if you dig deeper into the cost argument, it doesn’t hold much weight. Today, there are a number of reporting service companies, such as Edgar Agents, that help both large and small public companies convert their financials into XBRL. The cost of XBRL does not have to run in the tens of thousands. In fact, it is a fraction of that. For example, a survey done by Financial Executive International found that the average annual cost for small companies to file these reports is $10,000 (page 19).
At Edgar Agents, the average XBRL cost is much lower. We guide companies through the EDGAR and XBRL processes ensuring that everything is done accurately and on-time. We even offer an XBRL widget that makes posting XBRL documents on your corporate or investor relation website simple. As a trusted partner, we take the burden out of XBRL tagging for our customers.
Benefits of XBRL
There is an overwhelming need to bring more transparency to financial reporting. XBRL is designed to provide financial information in a standardized data format. This makes it easier for investors and analysts to compare and analyze10-K and 10-Q filings. It improves the flow of business information to the financial community (and third party investment sites). More importantly it helps companies gain control of their own internal reporting processes to streamline the reporting process to the SEC.
If some businesses are exempt from XBRL, the benefits of standardized data diminishes as financial analysts and the public will not be able to compare financial data accurately. It’s estimated that 60% of companies fall under the $250 million exemption. If only 4 out of 10 companies have to provide XBRL data, the goal of financial transparency is hardly met.
As the debate over XBRL continues into 2015, the cost argument no longer needs to be a barrier for any company – regardless of size. The process for converting financial data to XBRL has advanced over the last few years making it easier than ever (and more affordable) for companies to provide XBRL data to investors.
Contact Edgar Agents today to learn more about our affordable XBRL tagging services.
Thankful for Customer Loyalty
As the Thanksgiving holiday approaches, Edgar Agents reminisces about the very many things it is thankful for this year. First and foremost, we are thankful for our loyal clients who have trusted us to handle all their financial needs recently and over the years. Our goal is to become a trusted partner with our clients and by listening to their needs.
Since 1997, the company has focused its efforts on customer service and progressive solutions for your financial filings and other operational needs. We believe our commitment to individual customer requests is the reason for our strong customer loyalty. In an industry where competition is fierce, trust and loyalty from our clients is the main reason why we are very thankful this year.
We hope you have a wonderful and safe Thanksgiving.
Since 1997, the company has focused its efforts on customer service and progressive solutions for your financial filings and other operational needs. We believe our commitment to individual customer requests is the reason for our strong customer loyalty. In an industry where competition is fierce, trust and loyalty from our clients is the main reason why we are very thankful this year.
We hope you have a wonderful and safe Thanksgiving.
Edgar Agents is on SlideShare!
Click here for pertinent information and presentations from the Edgar Agents Team.
File Your Extension Today!
There is still time to file an extension if you are nowhere near ready to file your financials. Once you have made the decision to go on extension, consider an SEC filer that works 24×7, including weekends, at no extra cost, to get your financials in before 5:30 pm EST at deadline on November 19th.
The process is easy. You would only need to provide your CIK and CCC codes and the agent should take care of the rest. You might not even realize that a major cause for your delay is an outdated, in-house procedure, so also consider a filer with top of the line technology for optimal results.
Many filing procedures take up to two weeks to process documents into XBRL and 24-48 hours to process XBRL changes. This could significantly stall production on your end and cause you to miss your filing deadline as a result. Also, working with a firm that employs industry veterans will ensure timely results that are SEC compliant even during rush hours.
It is also wise to research a filer that offers solutions to prevent future last minute chaos, such as a single source solution. Single source processing is the method of processing XBRL and Edgar simultaneously, cutting the overall conversion time in half. One of its many features includes a web-based and real-time editor so you are always working on the most current version, even with several reviewers in the document at once. Data linking using “FactLink” assures your changes will be made throughout the entire document, improving accuracy and reducing overall stress. Last minute changes carry over into all of your documents so you know your changes were made in the Edgar and XBRL versions at the same time.
Avoid any further delays and contact Edgar Agents today to file your extension and learn more about our services for all your filing needs.
The process is easy. You would only need to provide your CIK and CCC codes and the agent should take care of the rest. You might not even realize that a major cause for your delay is an outdated, in-house procedure, so also consider a filer with top of the line technology for optimal results.
Many filing procedures take up to two weeks to process documents into XBRL and 24-48 hours to process XBRL changes. This could significantly stall production on your end and cause you to miss your filing deadline as a result. Also, working with a firm that employs industry veterans will ensure timely results that are SEC compliant even during rush hours.
It is also wise to research a filer that offers solutions to prevent future last minute chaos, such as a single source solution. Single source processing is the method of processing XBRL and Edgar simultaneously, cutting the overall conversion time in half. One of its many features includes a web-based and real-time editor so you are always working on the most current version, even with several reviewers in the document at once. Data linking using “FactLink” assures your changes will be made throughout the entire document, improving accuracy and reducing overall stress. Last minute changes carry over into all of your documents so you know your changes were made in the Edgar and XBRL versions at the same time.
Avoid any further delays and contact Edgar Agents today to file your extension and learn more about our services for all your filing needs.
Prepare Your Filings in Half the Time
Preparing your financial filings can be time consuming and expensive. It would be ideal if all the pieces fell into place as scheduled, but this is not always the case. If time is not on your side despite your best efforts, here are some tips you should remember at the ninth hour.
Get organized
Although your filer should be able to adjust to your individual requests, it helps your internal operations to keep things organized and create a list of items that need to be done. Make sure you carve out time to get organized even during crunch time. Once you see the tasks displayed in a systematic fashion, it simply becomes a matter of execution. No matter how close to deadline you may be, take time to sort and prepare the most pertinent pieces first before executing your plan of action.
Deliver Financials First
If you have a filer that uses a single-source solution (process in which the XBRL changes are processed simultaneously with EDGAR), crunch time should not be a problem. The best thing to do is submit your financial tables and notes first because these take the longest to process. Tables need to be formatted in Edgar while specific information needs to be tagged in XBRL throughout the document. This procedure can take some time to administer accurately, but if your filer offers single source processing, your Edgar and XBRL conversions will be done simultaneously and you will receive your proof in half the time.
Send Changes in Bulk
Changes close to deadline are likely to happen and weekend or overnight proofs should be a part of your package deal. If your filer charges extra for weekend or overnight changes, it is time to get another filer. You can also try submitting all your changes at once or in one proof. If there are more than one parties reviewing your documents, submit all their edits, plus your edits, in one email or in one proof if possible. This could help speed up the alteration process.
Trust Your SEC Filing Agent
Your SEC filing agent should be your partner, helping you through the process to make sure everything is done accurately and on time. It’s critical that you trust your filing agent and they are available to help you 24×7. Your filing agency should be adjusting its priorities to ensure individual attention and expected results for all your financial needs every time.
At Edgar Agents, customer satisfaction is our main priority. We work with our customers to meet all their requests – even on the tightest of deadlines. Contact us today to learn more about our SEC reporting services, typesetting and financial printing and newswire services.
What You Need to Ask Your Filing Agent
As you prepare for your next 10Q filing in mid-November, there are several factors you will need to consider about the way your SEC filer works in order to get things done on time, within compliance and worry free. Before you select an SEC filing agent, ask them the following questions.
Do they outsource any part of the filing process to third parties?
Did you know that it is common for SEC filing agencies to outsource part of filing jobs to smaller agencies usually outside of the US? This is especially common during the busy Q season. If your filer does this, be aware that your job may sit in a long queue, waiting to be processed. The reason – the company doing the actual conversion work is processing many jobs from multiple different filers. Your project might not be a priority. In fact, many filing agents will ask for your financials up to 30 days in advance in order to get the XBRL out on time! Filers that handle the entire project in-house are able to process projects faster and make revisions to your filings immediately without unneeded delays.
Will you have a dedicated agent working on your filings?
While the SEC filing requirements are the same for all companies, your needs are unique. When working with a filing agent you want to have a dedicated agent who will work on all your projects. This person will know your specific needs/requirements and will incorporate it into the project. If you don’t have a dedicated agent, each of your projects will likely be worked on by different people (from an outsourced third-party). You will likely have to explain specific requests multiple times to person(s) doing the work, even if your previous conversation was only a few hours earlier.
Does the filing agent offer a single-source solution?
Having a filing agent that offers a single-source process will save you time and frustration. For background, single-source is a process in which the XBRL changes are processed simultaneously with EDGAR. This speeds up the process and allows for proofs to be sent sooner. Unfortunately many filings do not use a single-source process and wait until the EDGAR is complete before working on the XBRL. As a result, this process can take twice as long, sometimes 24-hours before a proof is sent out.
Is there a limit on the number of proofs allowed?
Some filing agencies limit the number of changes you can make to a filing. This makes it easier for them to process documents. During the Q season, or any filing period for that matter, changes are inevitable and unpredictable. It is impossible to determine how many changes you might have – even at the last minute. Work with a provider that offers unlimited changes or clearly understands the number of changes you can make without being charged extra.
Are there additional charges for overnight or weekend jobs?
It’s important to understand how the pricing for each filing agent works. Beware that some companies will list one price but charge extra for overnight or weekend jobs. Not all filing jobs can be submitted during ‘typical working hours’ and you may not be able to wait until the next day for it to be processed. Your filing may need to be worked on over a weekend or at night in order to make revisions and meet filing deadlines. Ask if the filing agent is open 24×7 and if they charge extra for rush projects or weekend/night work. Make sure that the filing company provides trained experts and personalized service even during non-business hours.
Edgar Agents Advantage
Selecting your SEC filing agent is a critical part of your financial reporting. The right agent can help guide you through the process for a smooth filing every time. Edgar Agents is one of the very few SEC filers, financial typeset and financial printers to provide dedicated, in-house customer service. We offer a single-source process and are available 24×7 at no extra charge to our customers.
Contact us today to learn more about Edgar Agents or for a customized quote for your next filing.
Do they outsource any part of the filing process to third parties?
Did you know that it is common for SEC filing agencies to outsource part of filing jobs to smaller agencies usually outside of the US? This is especially common during the busy Q season. If your filer does this, be aware that your job may sit in a long queue, waiting to be processed. The reason – the company doing the actual conversion work is processing many jobs from multiple different filers. Your project might not be a priority. In fact, many filing agents will ask for your financials up to 30 days in advance in order to get the XBRL out on time! Filers that handle the entire project in-house are able to process projects faster and make revisions to your filings immediately without unneeded delays.
Will you have a dedicated agent working on your filings?
While the SEC filing requirements are the same for all companies, your needs are unique. When working with a filing agent you want to have a dedicated agent who will work on all your projects. This person will know your specific needs/requirements and will incorporate it into the project. If you don’t have a dedicated agent, each of your projects will likely be worked on by different people (from an outsourced third-party). You will likely have to explain specific requests multiple times to person(s) doing the work, even if your previous conversation was only a few hours earlier.
Does the filing agent offer a single-source solution?
Having a filing agent that offers a single-source process will save you time and frustration. For background, single-source is a process in which the XBRL changes are processed simultaneously with EDGAR. This speeds up the process and allows for proofs to be sent sooner. Unfortunately many filings do not use a single-source process and wait until the EDGAR is complete before working on the XBRL. As a result, this process can take twice as long, sometimes 24-hours before a proof is sent out.
Is there a limit on the number of proofs allowed?
Some filing agencies limit the number of changes you can make to a filing. This makes it easier for them to process documents. During the Q season, or any filing period for that matter, changes are inevitable and unpredictable. It is impossible to determine how many changes you might have – even at the last minute. Work with a provider that offers unlimited changes or clearly understands the number of changes you can make without being charged extra.
Are there additional charges for overnight or weekend jobs?
It’s important to understand how the pricing for each filing agent works. Beware that some companies will list one price but charge extra for overnight or weekend jobs. Not all filing jobs can be submitted during ‘typical working hours’ and you may not be able to wait until the next day for it to be processed. Your filing may need to be worked on over a weekend or at night in order to make revisions and meet filing deadlines. Ask if the filing agent is open 24×7 and if they charge extra for rush projects or weekend/night work. Make sure that the filing company provides trained experts and personalized service even during non-business hours.
Edgar Agents Advantage
Selecting your SEC filing agent is a critical part of your financial reporting. The right agent can help guide you through the process for a smooth filing every time. Edgar Agents is one of the very few SEC filers, financial typeset and financial printers to provide dedicated, in-house customer service. We offer a single-source process and are available 24×7 at no extra charge to our customers.
Contact us today to learn more about Edgar Agents or for a customized quote for your next filing.
A Personalized Approach to SEC Filings
Since I joined Edgar Agents (EA) three years ago, I have seen the company go through many changes. We have expanded our offerings to become a full service SEC filing agent, offering EDGAR and XBRL conversions, typesetting, printing and newswire services. We have also added new and very talented experts to our growing staff. But one thing remains the same – our commitment to customer satisfaction!
I have worked with the EDGAR process since its early days when I was at RR Donnelly. While I have also worked with other companies within this space, it is my belief that customer service is our biggest competitive differentiator and a key reason why EA is one of the top ten most active SEC filers month after month. Our personalized approach is unique in that it is centered on the customer. Our customers work with dedicated filing experts who create personalized SEC filing services that meet their needs.
While many filers approach every SEC filing the same regardless of the company type or size, we understand that every business is unique. We treat all our customers – small and large – with the individual attention required to ensure that every SEC filing is processed correctly. We do not outsource our services, allowing our CPA experts to work with you on all your filings. For example, changes to the EDGAR or XBRL are taken over the phone and a proof is sent within minutes. A dedicated EDGAR account manager confirms receipt of your files within moments of receiving the email. There is never an automated system.
We take the time to understand your specific needs and are always looking for ways to assist you with your financial reporting. Whether it is helping our clients stick to a timeline, prepare their SEC filings; organize financial printing or just answering questions about the filing process, we are here to help – day or night.
To better assist our customers, EA is open 24 hours a day, seven days a week and our production process provides initial conversion and edits noticeably faster than competitors. Our invoices are sent within 24 hours of transmission to the SEC, clearly stating what you are paying for and why. More importantly, there are no overnight, rush or weekend charges.
By listening to our clients, we have become partners with our customers rather than a vendor. It’s this customer approach to everything we do that keep our customers coming back for all their financial reporting service needs.
I have worked with the EDGAR process since its early days when I was at RR Donnelly. While I have also worked with other companies within this space, it is my belief that customer service is our biggest competitive differentiator and a key reason why EA is one of the top ten most active SEC filers month after month. Our personalized approach is unique in that it is centered on the customer. Our customers work with dedicated filing experts who create personalized SEC filing services that meet their needs.
While many filers approach every SEC filing the same regardless of the company type or size, we understand that every business is unique. We treat all our customers – small and large – with the individual attention required to ensure that every SEC filing is processed correctly. We do not outsource our services, allowing our CPA experts to work with you on all your filings. For example, changes to the EDGAR or XBRL are taken over the phone and a proof is sent within minutes. A dedicated EDGAR account manager confirms receipt of your files within moments of receiving the email. There is never an automated system.
We take the time to understand your specific needs and are always looking for ways to assist you with your financial reporting. Whether it is helping our clients stick to a timeline, prepare their SEC filings; organize financial printing or just answering questions about the filing process, we are here to help – day or night.
To better assist our customers, EA is open 24 hours a day, seven days a week and our production process provides initial conversion and edits noticeably faster than competitors. Our invoices are sent within 24 hours of transmission to the SEC, clearly stating what you are paying for and why. More importantly, there are no overnight, rush or weekend charges.
By listening to our clients, we have become partners with our customers rather than a vendor. It’s this customer approach to everything we do that keep our customers coming back for all their financial reporting service needs.
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