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Switching From Spreadsheets

Company Confidential 2

The Situation

A public company offered standard stock options plus restricted stock for its 100 participants. When a new controller joined the company, he was concerned that the Excel spreadsheet being used was inaccurate and would make it difficult to address ASC 718 requirements. Having used an online equity administration software at a previous company, the controller knew that was the direction he wanted to take.

The Transformation

The controller researched all the major players for the public company functionality he needed. He knew it was essential that the tool pass muster with their auditors. The research uncovered that insightsoftware offered the best combination of broker neutrality and cost effectiveness, and provided a comfort level for both the finance team and the auditors.

Once the company had selected insightsoftware, the controller and one of his team members worked together to complete the implementation. “insightsoftware made the data conversion process easy, helping us format data properly and working with us to tie back to our Excel spreadsheets. The process was very straightforward and spanned a period of six weeks. We thoroughly tested the data from insightsoftware against our prior 10Q and 10K to make sure it mirrored the data from our spreadsheets. Running the history gave me comfort with the insightsoftware solution.”

The Results

The client found value in all the pieces of the Certent Equity Management system. They especially appreciated having an active database, calculations for weighted average shares outstanding, and the information needed to meet SEC disclosure requirements. The disclosure (or footnote) report can take days to prepare manually – it contains 47 lines of information—but with insightsoftware, the report can be rendered in a web page within 45 seconds.

The client also enjoys the tables and reports that mirror what they submit in their filings. The auditor is happy with the insightsoftware solution and the clean data it provides. The client also saves time and money – the return on investment was seen in the first three to six months through a reduction of auditor questions and time spent on daily management and oversight. Using Certent Equity Management for stock plan management provided a level of comfort to a company that has limited resources for managing the process.

insightsoftware lets us use our limited resources more productively.


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