Only Green Status Pro Offers RCOI Reporting Service That Handles All CMRT Versions 2.0 through 3.02 to Accurately Perform 2014 Year-End SEC Conflict Minerals Reporting
Woburn, MA -- (SBWIRE) -- 11/20/2014 -- Green Status Pro, the leader in Conflict Minerals Reporting Automation, is now offering a 2014 Year-End Conflict Minerals RCOI Reporting Service. Only Green Status Pro’s service automates the processing of all the CFSI Versions 2.0 through 3.02 utilizing the latest Standard Smelter List, published November 7, 2014. The CFSI recommends that companies use this Smelter List for 2014 due diligence reference checks. Incorporating this reference list into an automated validation and reporting system allows the estimated 20,000 manufacturers who must report their source and custody of conflict minerals to generate the 100% accurate RCOI reports required by the SEC for achieving compliance with Dodd-Frank Section 1502.
The service is very streamlined – customers provide Green Status Pro with access to the CMRTs they want included in their RCOI report. Within 2 business days, the customer receives reports listing: 1) the unique smelter entries that were validated with the CFSI V3.02 Standard Smelter List; 2) CFS Program Conflict-free status of each smelter based on the CFSI’s currently published compliant-smelter report; 3) smelter submittals that contained errors indicating a need for due diligence follow-up; 4) errors contained in each supplier’s CMRT declaration statement; 5) all smelters reported with all their associated data in Excel format for easy custom reporting; 6) all supplier declaration statements in Excel format for easy custom reporting; and 7) key metrics and analytics.
“The challenge conflict minerals compliance managers are facing is that their RCOI reports must be accurate, converted into a CMRT, and delivered to their customers within the next 60 days or less,” explained John Logan, Green Status Pro founder. “It is unrealistic for companies using manual methods to make the transition to the V3.02 Standard Smelter List and then cost-effectively make accurate and timely updates to their CMRT in response to receiving new information from any one of their suppliers.”
There are approximately 20,000 companies worldwide that must update their RCOI reports and CMRTs over the next 60 days to meet the typical internal 2014 year-end conflict minerals reporting deadline of January 15, 2015. These companies include 1,300 SEC Filers and the members of their supply chain. The majority of these companies still use manual methods. Companies with over 20 suppliers and using manual methods are not able to support 100% accurate year-end reporting. The CMRT version 2 and 3 declarations are incompatible, and the transition to the Version 3.02 Standard Smelter List is too error prone and time consuming to meet the reporting deadlines already in place.
“Green Status Pro is providing its Conflict Minerals 2014 Year-End Reporting Service to support all the Filers and their suppliers that must incorporate the CFSI Version 3.02 Standard Smelter List into their reporting process immediately to generate the 100% accurate CMRTs their customers are expecting and the 100% accurate RCOI reports their General Counsel is demanding,” Rob Kasameyer, Green Status Pro president added. “The service is faster, more accurate and less expensive than manual methods.”
Green Status Pro’s Conflict Minerals 2014 Year-End Reporting Service is priced starting at $4,900 for processing the CMRTs, delivering Green Status Pro’s standard reports and a custom analysis of the results. Turnaround time is 2 business days.
For additional information, please contact Jack Logan, 781-572-5231 or firstname.lastname@example.org
About Green Status Pro
Green Status Pro automates Due Diligence Reporting to simplify your regulatory life. Green Status Pro is the leader in managing SEC Conflict Minerals Reporting as legislated by Dodd-Frank Section 1502. Green Status Pro’s system documents a firm’s OECD5 Conflict Minerals Due Diligence program and automates its RCOI reporting, providing the knowledge-base and leveraging the cloud for fast, affordable, accurate and secure compliance. Green Status Pro is an IBM Business Partner, hosting its applications on IBM’s SoftLayer secure global cloud infrastructure.
For more information about Green Status Pro, please visit http://www.greenstatuspro.com
1. RCOI = Reasonable Country of Origin Inquiry
2. CFSI = Conflict-Free Sourcing Initiative
3. CMRT = Conflict Minerals Reporting Template
4. CFS Program = Conflict-Free Smelter Program
5. OECD = Organisation for Economic Co-operation and Development