At last week’s American Society of Corporate Secretaries and Governance Professionals annual conference in Washington DC, our booth was active with in-depth and honest dialogue regarding XBRL.
Needless to say, most (coughcougheverysingleonecough) corporate-based attendees don’t yet see the XBRL’s value – but they do feel the burden of time and money. Standing a mere country mile from the Lincoln Memorial, honesty prevailed and we nodded in agreement.
To that point, we then explained our role as your XBRL filer: lighten the burdens.
Timelines and deadlines: We create a detailed, 10-step XBRL schedule for our clients. This process spells out, in plain English, what MUST be done to assure filing success IE: “Your pro forma financial statements are due to Vintage Filings by:” to “Please sign off on your first draft Reviewer Guide by:” to “You will file on this date.” Very clear and concise. Very helpful for Detail Footnote Tagging’s complexity.
Fees: Our clientbase ranges from megacap to reporting microcap… and our XBRL client teams and the corresponding fees are built around the scale and reporting sophistication needed by the client. Wonderfully, last month several companies switched to our XBRL services model – realizing meaningful savings that can now be used for growth initiatives. Remember our message: Re-balance IR (and compliance) spending to advance corporate growth and shareholder value.
Overspending on XBRL will not make you more compliant. Do due diligence and request a quote for your XBRL. Switching is easy, BTW.
Have a great day.