Woburn, MA -- (ReleaseWire) -- 02/27/2014 -- Green Status Pro is dramatically changing the way the 6,000 U.S. corporations that must file SEC Form SD on May 31, 2014, are preparing their RCOI (reasonable country of origin inquiry) reports. Companies are turning to Green Status Pro’s technology to quickly and accurately turn their suppliers’ EICC-GeSI Conflict Minerals Report Templates (CMRTs) into the reports they must have to be in compliance with Dodd-Frank Section 1502.
The new Dodd-Frank requirement puts pressure on corporations to consistently meet the humanitarian objectives of their customers, investors and employees to stop the violence in the Democratic Republic of the Congo.
Green Status Pro is announcing today its RCOI Ingestor Service’s ability to generate a comprehensive suite of RCOI reports that include:
1. All Reported Smelters: All smelter entries by all suppliers
2. Consolidated Smelter Report: Duplicate smelter entries consolidated
3. Smelter Compliance Status Report: Smelters that are CFSI-designated conflict-free
4. Corrective Action Report: Smelters sorted by name for due diligence analysis
5. Rejected Entries Report: Incorrect supplier entries identified
6. Aggregated Declarations Report: Repository of all declaration answers by all suppliers
7. Smelters by Supplier Report: Suppliers and the smelters they reported in their supply chains
8. Comprehensive Suppliers Validation Report: Documents flags for each supplier’s CRMT
“Our customers are saving hundreds of hours of effort to analyze and consolidate supplier smelter entries compared to manual methods,” said Rob Kasameyer, Green Status Pro president. “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. They are struggling to meet the deadline using manual methods.”
Compared to a corporation’s labor-intensive approaches, Green Status Pro’s comprehensive suite of reports eliminates manual errors and omissions providing management significant benefits.
- Speed: They will meet SEC deadlines. Turnaround is 2 days as opposed to many months for manual methods;
- Cost Savings: They will spend significantly less time and monies to conform with the SEC’s reporting requirements;
- Instant Expertise: The Conflict Minerals Reporting best practices are embedded in the Service.
“Fast turnaround is key to our customers’ success. Using Green Status Pro communicates that our customers are committed to meeting the objectives of Dodd-Frank,” added Steve Correia, VP of Operations. “May 31 is fast approaching and meeting the SEC’s requirements has the full attention of the Board of Director’s Audit Committee, Investors, and Customers. Companies that have already completed a manual review are verifying their results using Green Status Pro.”
To initiate the process of obtaining Green Status Pro’s RCOI reports, companies should contact Steve Correia directly at firstname.lastname@example.org or call 617.869.3424.
About Green Status Pro
Green Status Pro’s mission is to simplify the regulatory lives of operating managers by providing a knowledge-based solution to automate Due Diligence Reporting. Green Status Pro is the leader in automating and simplifying SEC Conflict Minerals Reporting as legislated by Dodd-Frank Section 1502. Green Status Pro is the only cloud-based software service in the world that provides the knowledge base to document a firm’s OECD Conflict Minerals Due Diligence program and automate its RCOI reporting. Green Status Pro is an IBM Business Partner, hosting its applications on IBM’s SoftLayer secure global cloud infrastructure. For more information, please visit Green Status Pro or contact: Ted Shediac, 1 (617) 869-3424.