Supplier EICC-GeSI Conflict Minerals Reports Processing Service Significantly Reduces Time Requirements
Woburn, MA -- (SBWIRE) -- 01/22/2014 -- Green Status Pro, the leader in Conflict Minerals Reporting, announces the industry’s only processing service for both validating supplier EICC-GeSI Conflict Minerals Template Reports and delivering the resulting SEC-mandated Consolidated Smelter Report. Green Status Pro’s innovative Ingestor Data Review and Reporting Service for Supplier EICC-GeSI Conflict Minerals Reports batch processes a customer’s supplier RCOI reports; validates the data and reports inconsistencies with acceptable responses; and generates critical consolidated and aggregated reports. Green Status Pro (GSP) provides customers with 2-business day turnaround.
6,000 SEC Filers who must comply with Dodd-Frank Section 1502 by filing Form SD by May 31, 2014, and their estimated 200,000 plus private and off-shore suppliers can all benefit from Green Status Pro’s highly secure Ingestor Data Review and Reporting Service.
“Corporate compliance officers, general counsels, supply chain executives and chief financial officers are overwhelmed with the amount of effort required to process their suppliers RCOI reports provided in the industry-standard EICC-GeSI Conflict Minerals Report Template format,” declared Rob Kasameyer, Green Status Pro president. “The SEC has set a reporting deadline of May 31, 2014, and they will not make that deadline using conventional manual methods.”
Companies provide Green Status Pro with their suppliers’ EICC-GeSI Conflict Minerals reports and within 2 business days, they receive:
- Consolidated Smelter Report – A listing of all the smelters reported by the suppliers, eliminating exact duplicates. Includes all data provided in their EICC-GeSI Smelter List worksheet for each smelter and identifies the source Supplier Report(s) (Excel Format);
- Aggregated Declaration Report – Provides each supplier’s input by question on the EICC-GeSI Declaration Worksheet, including comments, and sums for each question across all Suppliers (Excel Format);
- Smelter by Supplier Listing – Lists declared metal(s), smelters and associated smelter data as entered on the Smelter List Worksheet sorted by Supplier (Excel Format);
- Comprehensive Supplier Validation Report – Provides the Validation Messages for each supplier generated by Ingestor and identifies the source supplier EICC-GeSI Conflict Minerals Reports (MHTML and PDF Format).
Compared to today’s manual methods, GSP’s Ingestor Service provides the following significant benefits:
- Speed: Customers will meet SEC deadlines. Turnaround is 2 days as opposed to many months for manual methods;
- Cost Savings: Customers spend significantly less time and monies to conform with the SEC’s reporting requirements;
- Instant Expertise: Conflict minerals reporting best practices are embedded in the Service;
- Ensure Accuracy: Technology ensures a level of accuracy impossible to match with manual methods;
- Risk Protection: Reduces enterprise and brand risk. Companies that do not properly conduct and report their RCOI risk losing customers.
Customers are charged by the number of supplier reports included in each GSP Ingestor Data Review and Reporting Service batch run.
“Every company that receives 50 or more EICC-GeSI Conflict Minerals Reports from its suppliers can benefit from the Ingestor Service,” concludes Kasameyer. “Industry leaders recommend using leading-edge IT solutions to lower the cost of complying with Dodd-Frank Section 1502: Green Status Pro delivers.”
About Green Status Pro
Green Status Pro’s mission is to simplify the regulatory lives of operating managers by streamlining the documentation of due diligence. Green Status Pro (GSP) delivers comprehensive Conflict Minerals, ISO 9001 and ISO 14001 due diligence solutions. GSP is the only cloud-based software service in the world that provides the knowledge base to guide managers through the implementation of their firm’s OECD Conflict Minerals Due Diligence program. GSP is an IBM Business Partner, hosting its applications on IBM’s SoftLayer secure global cloud infrastructure. For more information, please visit Green Status Pro.