Confluence has announced that the company will be upgrading its support of the Securities and Exchange Commission’s (SEC (News - Alert)) forthcoming release of a new EDGAR XML filing specification. The company plans to upgrade its Unity Regulatory Reporting N-SAR solution for this purpose.
The company has announced various new features in its Unity Regulatory Reporting solution. N-SAR will now offer support for the SEC EDGAR release. This release will replace the existing DOS filing process with an XML file transfer.
For fund administrators, creating financial reports is a time sensitive, resource intensive task. They should collect data from various sources, and there are other works such as timely creation of reports, meticulous confirmation of accuracy and the need to deliver electronic and print files to various locations in numerous formats. The demand for quick turnaround is intensified in today’s information driven society.
“Our clients rely on our expertise as a technology provider to deliver innovative solutions to deal with tough regulatory reporting challenges,” said Skip Smith, EVP of Product Development for Confluence. “With the introduction of new XML filing requirements, regulatory reporting is becoming increasingly complex for fund administrators. The Unity Regulatory Reporting N-SAR EDGAR XML automated filing solution will save our clients time while eliminating the risk of error of manually entering the data.”
Confluence provides an end-to-end solution which automates shareholder financial reporting. It provides functionalities such as collection of holdings, marketing and general ledger data and also the delivery of electronic files and print-ready publication documents.
Recently, the company was named as one of the Healthiest Employers of Western Pennsylvania by the Pittsburgh Business Times.
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