Managing Continuing Disclosure Agreements (CDAs) is an essential but time-consuming process. It can also be a major headache to juggle ongoing deadlines for multiple agreements and obligations on top of hunting down many different spreadsheets that internal and external teams are working on.
Whether you have public or privately placed debt, there are several inefficiencies in how disclosures are traditionally managed. To start, the disclosure deadline reminder is likely sitting in one person’s calendar. Some finance administrators even plan their vacations around disclosure deadlines because they’re the only ones who manage the process. On top of this, it can be difficult to gather information and submit to the Electronic Municipal Marketing Access (EMMA®) because internal data is often outdated or complex, which can make preparing disclosure information challenging.
Additionally, running around to different team members, tracking down files, and compiling everything is a manual process, and a reactive approach can cause new employees to be unaware of tasks and deadlines, or worse, miss deadlines. Some debt managers retire or move on to different roles, leaving their successors to search for the puzzle pieces of the full Continuing Disclosure picture.
Let’s look at how you can simplify continuing disclosure and CDAs to save time and headaches in your debt management process.
DebtBook Automates Your Continuing Disclosure Process
Manual disclosure management steals valuable time from your team and introduces unnecessary risk. Automation goes a long way toward solving both of these challenges.
Automated Notifications Keep Payments on Track
Your organization’s financial health is too important to have deadline notifications sit in one person’s calendar.
DebtBook gives you access to a cloud-based, automated notification system that sends all relevant employees an email reminding them about upcoming continuing disclosure deadlines. Your notifications are tied to your DebtBook platform, so you can work off a single data source and have changes reflected across the system rather than updating in multiple places as you would with a calendar and spreadsheet model.
Organized Agreements Eliminate Repetitive Tasks
Traditional continuing disclosure processes often lead to fear while impending deadlines hang over your head. You rely on one person’s deadline reminder, followed by digging through files on desktop hard drives or in physical files and determining how to share this information. Additionally, many agreements have the same requirements. When your agreements are unorganized or sitting on a desktop or in a physical file, you will likely be doing the same task over and over, leading to wasted time.
With DebtBook’s continuing disclosure functionality, you can house all your documents in one easily readable format that’s visible to everyone in a centralized location. Your continuing disclosure process is much quicker, so you don’t have to hunt for information, worry that it’s inaccurate, or wonder if you are working off the latest version of the document you used months or a year ago.
Centralized Templates Allow for Easy Updates
Often, disclosure submissions are built off the same template used in the last year or quarter. With DebtBook, you can house the templates in one centralized location, so your disclosure documents simply need to be updated and submitted.
Then, the system will remind you that the same task is due for other agreements. The template will only need to be updated once and submitted for all other applicable agreements, saving time and eliminating repetitive actions.
Streamlined Data Management
DebtBook’s continuing disclosure functionality houses the information needed to fulfill continuing disclosure requirements, enabling you to complete requirements in a fraction of the time. For example, key calculations (e.g., debt outstanding on each issue, or each credit type, as of any date) are associated with your debt obligations already housed in DebtBook.
It also has unlimited document storage, backup documentation, and legal documentation. Additionally, the streamlined debt management platform allows you to view refunding lineage, annual roll-forward tables, outstanding debt, and project allocations in one place to connect the dots to disclosures.
Unlimited Users
With DebtBook, an unlimited number of internal and external users can be added at no extra cost. This enables everyone with access to see what’s been done, what still needs to be done, and a user’s workflow in case they’re sick or on vacation when disclosure requirements are due.
Maintain Your Debt with Ease
Here’s your chance to experience efficient continuing disclosure agreement management, reporting, and more, all in one easy-to-use tool. First, explore our checklist for what to look for in debt management software. Then, schedule a demo to see DebtBook in action and discover what this powerful debt management software can do for you.
