XBRL Provider Myth: “Legacy” vs. “New Wave”

June 26th, 2013

 

If your company is currently working with a printing company to get your XBRL and EDGAR filings, you may have heard from them that they are a ‘legacy’ company, or that they are the “oldest company listed” on the NYSE.  You may have heard this pitch as an excuse for overcharging you for XBRL and EDGAR filings.  XBRL is not yet 5 years old.  I have a difficult time seeing how it makes sense for a company to use its status as old guard ‘proven commodity’ to thereby claim that inflated prices are reasonable for a service that has not yet existed for a half-decade.  It is undeniable that your current provider may be a long-standing printing company.  However, a legacy for financial printing does not necessarily mean that the XBRL services they provide is of high quality, and I disagree with the notion that this legacy grants permission to charge more than is necessary for SEC filings.

Here are the facts:  RDG Filings has been around 25 years.  RDG has been providing EDGAR and compliance related services since its inception, and RDG has been doing XBRL since its inception in 2009.  I would hardly argue any of these facts represent RDG as ‘new wave.’  RDG provides you with excellent XBRL filings, superior service, far more reasonable editorial timelines, and your costs will be reduced substantially.

RDG Filings is a privately held company that is not beholden to shareholders or to our ‘legacy’ on the NYSE.  RDG Filings is beholden first and only to our clients, and we are committed to providing them with the best full-service SEC filings available.

-Stewart Walker, Director of Sales.