NEW YORK – On the heels of the SEC’s roll out of two new forms that need to be filed digitally in 2018, EDGAR has developed a single source typeset that takes highly stylized typeset materials and convert them to EDGAR-compliant HTML.
In an easy to use application, the process happens in minutes while maintaining all the data and formatting from the original document. EDGAR (Electronic Data Gathering, Analysis, and Retrieval) is an online public database of corporate regulatory filings from the U.S. Securities and Exchange Commission (SEC).
“Companies want professionally designed documents that represent their brand identity for their shareholder communications and publicly filed documents,” said Senior developer Sundeep Narang.
“These highly stylized documents are not easily converted into EDGAR-compliant HTML that’s required for SEC filing, which leads to companies creating these documents from separate systems. The risk in running these projects from separate systems is that it can lead to material differences between the printed and electronically filed documents. Our new single source development not only eliminates discrepancies, but does so automatically and in minutes, saving time and money.”
Narang built this platform in a very short period of time; development of this application took only months, instead of a year or more – the typical timeframe for new applications. EDGAR Edge is built on the latest technology platforms, similar to what other digital industry giants, like Facebook and Google, are developing on. The innovative system is dynamic, unlike the older technology, and It allows companies that spend their marketing budget on design and brand identity to keep the look and feel of their documents across all their EDGAR materials. Quality EDGAR Solutions’ system takes native Adobe files and converts them to EDGAR compliant HTML using its source data.
According to David Rosenfeld, one of the owners of Quality EDGAR Solutions, in the many years since EDGAR filing was mandated, there has been a persistant, time consuming and expensive problem for companies that want their EDGAR filed documents to be an exact match to their printed material.
“Many companies create elaborate and highly styled documents to distribute to shareholders. The legacy EDGAR conversion systems in the industry were not able to create an exact mirrored match of that highly stylized material in EDGAR HTML,” explained Rosenfeld. “The products that would convert this material did not effectively replicate the style. The HTML then required heavy cleanup of the formatting, which eliminates the value of a single source system. When we created our product, it was an absolute necessity that all of the formatting would be sustained in the EDGAR HTML conversion to maintain the integrity of the single source.”
This single source platform, EDGAR Edge, [GKC1]will be available for this year’s proxy season. Proxies are often meticulously designed by firms to represent not only the brand identity but also to effectively display the proposals being voted. This single-source system will allow companies to seamlessly replicate even their most highly stylized proxy statements in EDGAR compliant HTML.
In addition to the latest filing system, the company has developed a number of other notable Node.js applications including an internal database system, a translation system, a document management portal for Quality EDGAR Solutions’ clients, and is currently working on options to effectively manage the newly adopted SEC form types N-PORT and N-CEN.
In addition to his work on the ETC Unite project, Narang also worked with Clickdaily, Inc. to create a tool that helped small businesses manage and market their business. He built a one-stop shop for businesses where they could control all their social networks, oversee marketing and manage day to day tasks.
To find out more about Quality EDGAR Solutions, its latest developments, and services, visit www.QualityEDGARSolutions.com.