To meet US Security and Exchange Commission (SEC) regulations, public companies listed on US stock exchanges must release 10K/10Q reports. The 10K/10Q process requires companies to gather information from multiple sources, manage and approve the information, and aggregate the data into one document for release to the SEC.

10K/10Q Reporting Issues

A 10K/10Q reporting process that is not automated makes managing data, workflow, and security an arduous, time-consuming task. If a number of staff members using different data gathering methods are involved in the process, they might produce inconsistent reports containing conflicting data. This can lead to filing incorrect information, missed deadlines, and even SEC penalties. While automated reporting solutions can alleviate these problems, companies must implement effective 10K/10Q reporting solutions or they may face poor ROI and a reporting process that is overly reliant on IT staff to implement and manage.

ThinkNet's 10K/10Q Reporting Solutions

While there are similarities between businesses, no two are exactly alike. That is why companies want to implement a customized reporting process. Working closely with clients, ThinkNet produces an integrated 10K/10Q reporting management tool tailored to your financial reporting process. Once a solution path is chosen, ThinkNet assembles a dedicated team with the specific skills required to implement the solution. Implementation means more than customization. It means managing the project, creating and installing the application, integrating new and existing systems, training staff, and providing the required support.

10K/10Q Reporting Solution Benefits

With an effective, automated 10K/10Q reporting solution in place, a company can manage reporting workflow, quality, security, accountability, and approval. And it can do this every quarter and every year in a consistent manner. Reports that present an accurate version of the company’s financial picture can be easily audited to meet SEC criteria.

Technology Agnostic Equals Best Practices

As a technology-agnostic professional services firm, ThinkNet’s IT strategy is your best-fit IT strategy. ThinkNet is not committed to any particular IT applications or hardware platforms. Instead, ThinkNet is committed to developing, implementing, and supporting a best-practices, end-to-end, strategic IT solution based upon your particular business objectives.

More Information

To learn more about ThinkNet’s practical, enterprise-level, professional consulting and implementation services, call or email ThinkNet today:

• Click here for information on ThinkNet Financial Solutions
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