The same can be said about managing state and federal compliance reporting obligations. Whether handling them in-house or outsourcing your reporting, waiting until March when various annual reports’ due dates start to hit with ferocious frequency, instead of getting organized and set up in January, can be risky and stressful. You never know what required form may have undergone reformatting at the last minute, or if filing methods at a particular agency have changed.
As a provider of outsourced reporting services for the last 20 + years, Technologies Management, Inc., encourages new clients to start their contracted reporting service with us on January 1st so we can assist them in their organizational efforts and get them ready to hit the ground running for the hectic Annual Reporting Season (which usually begins in March). This scheduling allows our clients the time to provide essential details for those massive reports like: customer counts by city or towns, lists of zip codes and rates served in a specific state, or the NPA/NXX locations. Add to that critical certification information, the lists of officers and directors, and the activity of gathering financial statement information – – that makes for a long list of data and required information that could have been in place well before that first report is due. Before other business priorities distract key personnel from report approvals and signing forms.
Annual Reporting Season is already busier than the rest of the year. Why add the crazy scramble of trying to find someone in the IT Department to pull a report showing MOU by zip code in Texas for a report that is due the next day to the mix? Companies want to avoid the penalties for the late filings but are pressed for time as it is to get their data completed and into the correct format to file on time, only they didn’t begin the process until the week before the report is due! At TMI, the preparation begins in January and continues throughout the year. When those Annual Reports are approaching their filing dates, our clients just attach a file to an email to their compliance reporting specialist and move on to the next project. Starting this process at the beginning of the year has so many advantages that allow the Annual Reporting Season to flow smoothly – and – THAT gives exhausted personnel the time to focus on their packing list for that much needed vacation in May!