How Using Business Wire for Press Release-Based EDGAR Filings Saves IR Professionals Time and Money – A Business Wire Use Case

Overseeing investor relations for a U.S.-listed public company requires you to be responsible for disclosing financial results to stock exchanges, media outlets, analysts and consumers every quarter. This means distributing an eight-page news release (or longer!) while also filing that same information into the SEC’s EDGAR database as an 8-K or 6-K filing.

Version control and reducing any potential for errors becomes paramount. Consider these scenarios and determine which makes better sense.

Scenario 1: Meeting U.S. Regulatory Disclosure Requirements with Multiple Vendors

It is earnings day, and you have received the final version of your company’s earnings release.

1. You send it to your newswire vendor to be formatted for distribution. This partner ensures that your news release is distributed to financial audiences, business press, trade publications, industry experts and consumers.
2. You concurrently send the same earnings news release to your attorneys and/or filing agent to be prepared for formatting and submission to the SEC EDGAR database.
3. When news release edits are required, you contact multiple teams at different companies to update each document; each team’s hours and preferred method of contact vary.
4. Proofs are sent back from each company for review to ensure edits are correct; you must review both versions for accuracy.
5. Approvals are received from your leadership team, and you again contact each company to give your approval and establish distribution time(s).
6. At the approved time(s), you ensure all partners have distributed their portions correctly.
7. A week later, you receive separate invoices from each vendor involved in your disclosure process.

Scenario 2: Meeting Disclosure with Business Wire’s EDGAR Solution

Your team tries something different this time. 

This quarter, you use Business Wire’s EDGARit ComboPack service to handle your earnings news release distribution and your SEC 8-K or 6-K EDGAR filing. Your new earnings/disclosure process looks like this:

1. You upload your news release to one service in one order (not two).
2. Your earnings data is created and managed in one system (not two).
3. When edits are required, you only have to contact one company (not two).
4. Your edits are made seamlessly across both documents with minimal risk of versioning errors.
5. You review proofs to ensure accuracy.
6. Once approved, your news release and SEC EDGAR filings are distributed at the time(s) you select.
7. One low-cost invoice to approve (or to have packaged into your overall Business Wire agreement).

Did Business Wire’s EDGAR Solution work?

This quarter, you chose to simplify your earnings process, reduce risk of errors and be more efficient with Business Wire’s EDGARit ComboPack service. This resulted in:

☑️ Saved time*: 5 hours saved by using one provider instead of two.
*Estimated time savings includes one hour for initial conversion, 3 rounds of edits (8 pages, 6 hours of proofing time)

☑️ Saved money: Business Wire’s flat-rate 8-K and 6-K EDGARit pricing eliminates hourly fees, conversion fees, edit fees, filing fees and more.

☑️ Decreased risk: Four different opportunities for versioning risks eliminated by using one distribution partner instead of two.

☑️ Decreased stress: Business Wire EDGARit provides you with 24/7 access to news release and EDGAR filing services, allowing you to make changes no matter the day or time.

Business Wire is committed to providing our customers the best service and solutions in the industry. If you are looking to save time and money while decreasing risk and stress, we are here to help. Click here to learn more about Business Wire's EDGAR filing services. Contact us at info@businesswire.com or 888.381.9473.

Get the latest PR, IR, Marketing and Media tips on the Business Wire Blog. Subscribe today!