Choosing a Disclosure Management Solution
Financial professionals know the quarterly drill of yet another period close all too well. That’s when the disclosure process — that time-consuming, manual, error-prone proposition — takes center stage.
Compounding the challenge: Rule 405 of Regulation S-T — the Interactive Data Mandate — designed to modernize financial reporting for publicly traded companies. As a result, public companies are transitioning away from their outdated, pieced together processes and starting to file their documents and exhibits in eXtensible Business Reporting Language (XBRL) using new-breed disclosure management systems. With disclosure management systems, companies can benefit from centralized and standardized processes and tools to create complex reports and documents and comply with reporting requirements in multiple formats — all on a single platform.