- Old, already peaked.
- Really old, bordering on ancient.
- Downright decrepit, approaching prehistoric.
This is what companies considering going public have had to choose from when it comes to full service financial reporting providers. That is, until now.
2engage Financial Media intends on becoming the premier, full service, financial reporting service provider over all those who have come before them and have grown old, fat and yes, well, tired.
Financial printing is a staid, mysterious industry that has historically been dominated by just a few service providers. These companies have recently experienced decline, service degradation and contraction due to competition from companies offering SEC self-filing solutions.
Additionally, and much to their own continued detriment, these companies foolishly cling desperately to a business model that is unchanging, lacks innovation and limits control by companies over the necessary documents generated in the initial public offering process.
Quality is a term that is bandied about constantly in the business community and especially in the financial reporting services world.
“Quality this, quality that.”
“Work with us, we’re bigger, better and we offer the biggest, best quality.”
These are just words. I know this and so do you. You are told something by a representative from a company who purports to be bigger and better and this is supposed to make you feel good about working with them.
If your company is considering going public, though, hearing these words from a sales representative at one of the traditional financial printers should make you a little nervous. At the very least, your confidence levels in the company desiring to ride herd over your registration statement should be decreased accordingly.
In the case of financial printing and financial reporting service providers, bigger is most certainly not better. In fact, bigger has almost always led to quality being worse in an industry historically resistant to process improvement.
Financial printers and financial reporting service providers have not really experienced much competition. When the EDGAR self-filing craze saw its peak recently and heralded further contraction among full service financial printers, these dinosaurs of a bygone era continued clinging fiercely to their outdated ways of doing business.
Even though these providers contracted and merged, they offered the same quality control they always have—which is almost no quality control at all. Because they were big, and instead of implementing process improvement, they did what they always have done: lowering prices (after making costly-to-the-customer, embarrassing gaffes) and hoping their clients remain.
Another thing that remains, philosophically-speaking, among old financial reporting service providers is how they prioritize their clients’ relevance. I always found it incredulous to be instructed to handle “so and so’s work with kid gloves,” as they are “high-profile clients” and “we can’t afford another screw-up.”
At 2engage Financial Media all clients are treated as high-profile clients. They are also given equal sway when it comes to resources available to produce their projects on time and with the utmost quality.
2engage Financial Media is comprised of financial reporting service industry veterans who know that real customer service is more than just saying the words. Staffed by composition and EDGAR/XBRL project manager professionals who have been “in the trenches,” 2engage brings communication and knowledge to consistent levels, empowering decision-making and facilitating good choices every step of the way.
So, if you need help with your IPO, your choices for financial printing and financial reporting service providers are:
- Old, already peaked.
- Really old, bordering on ancient.
- Downright decrepit, approaching prehistoric.
Or are they?
2engage Financial Media—the best new choice for work too critical to gamble on.
Bob Skelley is Founder, Senior Writer and Editor-in-Chief of bobskelley.com—home of the popular and influential blog, “hittingthesweetspot by Bob Skelley.” A commercial and financial printing veteran, Skelley spent over 25 years combined in both businesses. In an exclusive agreement with 2engage Financial Media, Bob will bring his unique financial reporting insights to our company’s web pages. Check our website regularly for more of Bob’s commentary, analysis and continuing coverage of the 2engage Financial Media difference.
This blog post was sponsored by 2engage Financial Media.
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