Over 20,000 companies worldwide use the CFSI CMRT to report the smelters in their conflict minerals supply chains. On November 16th the CFSI released a new CMRT with instructions to begin using it immediately. In response, Green Status Pro has launched a new service to transition companies to the new CMRT.
Lexington, MA -- (ReleaseWire) -- 11/19/2015 --On November 16, 2015, the Conflict-Free Sourcing Initiative (CFSI) released a new version (4.01b) of its industry-standard Conflict Minerals Reporting Template (CMRT). In conjunction with this release, the CFSI stated: "Suppliers responding to new requests should use the latest version (CMRT 4.01b)."
Starting at $500, Green Status Pro's new CMRT 4.01b Migration and Reporting Service is the first to provide the over 20,000 companies who rely on the CMRT for conflict minerals supply chain reporting with an accurate, fast and cost-effective way to comply with the CFSI's instructions.
Conflict minerals reporting was mandated with the enactment of Dodd-Frank Section 1502 and is administered by the SEC. The objective is to eliminate the funding of armed groups in the Democratic Republic of the Congo (DRC) and adjoining countries. This funding is primarily derived through commerce in gold, tantalum, tin and tungsten – the conflict minerals.
"The CFSI released 4.01b in the middle of most compliance departments' year-end conflict minerals reporting efforts. Executives responsible for conflict minerals reporting do not have the time to upgrade to 4.01b on their own before year-end," said John Logan, Green Status Pro CEO. "Green Status Pro overcomes their problem through the use of our leading CMRT reporting technology, Ingestor™. We can provide our clients with their CMRT 4.01b within 2 days."
CMRT 4.01b Migration and Reporting Service starts as soon as a new client provides Green Status Pro with access to its supplier CMRTs. Using Ingestor, the CMRTs are first analyzed for errors and red flags. Ingestor then generates the client's CMRT 4.01b Smelter List ready for customer distribution and a report identifying which supplier entries were impacted by the migration from version 4.01a to version 4.01b.
"Starting at $500 to process 200 supplier CMRTs, the CMRT 4.01b Migration and Reporting Service is much less expensive than all alternative approaches," explained Rob Kasameyer, president of Green Status Pro. "Our technology service delivers 100% accurate 4.01b CMRTs. Our 2-day turnaround is far faster than alternatives. Our clients can both meet their customers' needs and focus on SEC reporting."
To learn more about Green Status Pro's CMRT 4.01b Migration and Reporting Service, click here.