Q4 Blog

Every now and then something happens in the market that almost demands for me to shout from the rooftops about what we’re doing here at Q4.

On August 1 the SEC issued new guidance that deems corporate web sites and blogs as compliant with Reg. FD providing that certain criteria are met. This allows a public company to disclose information on their corporate web site, without having to issue a press release through an approved news wire service.

What’s bad for the newswires, whom have long enjoyed a guaranteed flow of business, is great news for issuers who stand to save tens or hundreds of thousands of dollars in newswire fees. Considering the economic climate, this couldn’t happen at a better time, as companies look to trim the fat.

Many issuers are adopting a ‘wait and see’ attitude, looking to their peers to see how the market responds to the new Reg. FD web disclosure model. Others are starting now to transition their web sites toward Reg. FD compliance. Darrell Heaps, CEO of Q4 Web Systems, wrote an interesting blog post on how to make your web site a ‘public’ disclosure channel under new SEC guidance and Reg. FD.

Q4 Web Systems has long recognized the importance of web disclosure and the inevitability of this new legislation. More than 3 years ago we built Q4 WEB – a fully-featured IR web content and disclosure management system that is a perfect response to the SEC’s new guidance. Here’s why:

Read more…

CIRI Ontario opened the fall season at the Albany Club yesterday with a presentation on ‘Using Advanced Technologies Effectively.  Speakers included Michael O’Connor Clarke, VP of Thornley Fallis Communications; Natalie Johnson, Manager of Social Media with General Motors and Parker Mason, Web Content Specialist with the CNW Group. (More info on event/presenters . Michael O’Connor also blogs about this event)          

Attended by approximately 60 people, the topic was focused specifically on blogging and so the use of social media such as Twitter, Facebook, MySpace, LinkedIn and YouTube were largely omitted.

For the uninitiated, the presentation provided an introduction on how to start using corporate blogs as an effective communications channel. Here’s a brief synopsis of the presentation with a few other helpful bits added:

Read more…

If you’ve had a chance to go through the 47 page guidance and specifically the section regarding “dissemination” of information and what “public” means in the context of RegFD and the corporate web site you’ve likely been left scratching your head thinking “ok, so now what?”The issue of what constitutes public information is one of the grey areas of the latest guidance. The purpose of this post is to try and provide some additional color to the guidance and help you understand what it is going to take in order to use your website as your “public” channel of disclosure under this new guidance.

To be considered “public” the corporate site needs to meet 3 criteria.

1. a company web site is a recognized channel of distribution
2. posting of information on a company web site disseminates the information in a manner making it available to the securities marketplace in general, and
3. there has been a reasonable waiting period for investors and the market to react to the posted information.

For the purpose of this post I’m going to focus on the first two criteria.

From the guidance:  Whether a company’s web site is a recognized channel of distribution of information depends on the steps that the company has taken to alert the market to its web site and its disclosure practices, as well as the use by investors and the market of the company’s web site

In general, for you to use your site as the main channel of disclosure it requires that you act like it is the main channel and that the market recognizes it as such. This means that you need to change the behavior of your company along with the perception of the market – which is going to take some effort. Here are a handful of suggestions (along with language from the guidance) for you to get started with:

Read more…

One of the big challenges in developing software is guiding your users on how to best use your software in a helpful and productive manner. We strongly believe that our customers should be well equipped to use our software and we like to provide them with as much help as possible.

Q4 Press is our newest product, it’s primary value proposition is to “Easily Collaborate on Regulated Documents”. Given that proposition we wanted to make sure that we made the software live by that rule. The welcome page is one of the things we implemented that we thought would bring that proposition to life.

Previous to introducing the welcome screen to Q4 Press, users that had just logged on would be presented with a list of all the press release that they were currently working on. It looked like this:

While this scenario worked fine while we were building the product, we soon realized that in real world scenarios this page would more often then not be blank for most of our users. This goes directly against our primary value proposition and we quickly began looking for ways to make this experience a much more inviting and informative one for our users.

This is where the Welcome screen came into play, it looks like this:

The welcome page’s primary goal is to drive new users to the most logical actions they should perform. In the case of Q4 Press, those actions are to invite other users to collaborate on a press release and to create a new press release.

Again we realized that this welcome screen is targeted at people that are new to using Q4 Press, and more advanced users would quickly tire of the fact that they have to land on this screen and then navigate away to work on the things that were important to them. This prompted us to include the ability for more advanced users to skip past the welcome screen (this is done via a check box on the welcome screen that the user ticks off, all subsequent logins will land them on the dashboard).

We think this feature is a great one and we hope you do to. If you would like to find out more about Q4 Press please email catherinec@q4websystems.com or call 416-789-7829 ext 225 and we will be more than happy to give you a demo of the product.

Following up on our Q4 WEB Spring 08 Features blog post, I’m going to talk about Q4 Web’s ability to embed Google maps into your site. Google maps are quickly becoming a standard method for displaying maps on websites.

What is Google Maps?
Google Maps is a Google service offering powerful, user-friendly mapping technology and local business information—including business locations, contact information, and driving directions. You can find out more about Google maps here

Ok, great. So what can I do with Google maps
Googles maps are quickly becoming a standard method for displaying various types of map related information on company websites. Some examples of how Google maps can be useful on your site are:

• Display a map to your corporate offices
• Show a map of your operations (see a great example on the Baffinland Iron Mines website)

In addition to the basic mapping data, administrators can also tag locations with additional information regarding the location that is tagged on the map. Website users can view satellite images of your mine areas as well as topographical images providing them more insight into your companies operations.

How can I get Google maps functionality on my site?
We think this is a great new feature and we hope you do to! If you would like more information on how you can integrate Google maps functionality in your site send us an email to support@q4websystems.com or give us a call at 416-626-7829 (press 2 for support) and we’ll be happy to help you integrate this new feature.

Did you know that yesterday (May 1st) was RSS awareness day? Well if you didn’t your in luck, as mentioned in our Q4 WEB Spring 08 Features post, Q4 Web now supports outgoing RSS feeds for Press Releases, Presentations and Events.

What is RSS?
RSS (Really Simple Syndication) is a method for distributing content over the web in what is commonly referred to as an “RSS feed”. RSS feeds typically contain a summary of the content item or the entire content item itself from the originating website. End users subscribe to and read these feeds in a feed reader. Some examples of popular feed readers are Google Reader, Bloglines and My Yahoo. Spotting a website that supports RSS is pretty easy just look for the orange icon in the far right hand side of your browsers address bar.

Why does RSS matter to me?
In the ever evolving world of corporate disclosure, RSS provides a way to keep your investors and analysts up to date on your company in a user friendly and efficient manner. Giving your website users the ability to subscribe to a feed of your press releases allows them to be notified of when you update the content on your site and gives them the opportunity to read the press release in there feed reader or to visit your site directly and read the press release there.

How do I get RSS on my site?
If you are interested in adding this module to your installation of Q4 Web send us an email to support@q4websystems.com or call us at 416-626-7829 (press 2 for support) and we’ll be happy to help you implement this new feature.

We’re pleased to announce a number of new features now available for Q4 Web. To learn more about each of the features listed below, please feel free to visit the link (if provided) or contact us for more information.

RSS Feeds Q4 WEB now includes RSS Feeds for your Press Releases, Presentations and Events. This means you can now offer your web site visitors an easy way to receive updates whenever information changes on your site. Example: http://www.q4websystems.com/AboutQ/RSSFeeds/
Google Maps Embed Google maps to show the location of your operations. Includes all of the features of Google maps, including satellite photography. Example: http://www.baffinland.com/MaryRiverProject/LocationMap/default.aspx
Photo Gallery Using the new Photo Gallery module, you can easily add and manage an unlimited number of photos. Clients typically use this for the large number of photos associated to projects and operations. Users are able to quickly flip between photos without having to reload the entire page. Example: http://www.baffinland.com/MaryRiverProject/PhotoGallery/default.aspx
Directors and Officers Module Adding this module to your site makes it easy to manage the members of your directors and officers and to add them to different groups. This module also allows you to add Low Res and High Res Photos of each management member. Example: http://income.newportpartners.ca/PortfolioHoldings/NPLP/default.aspx
Email Alerts for Reports, Events and Presentations In addition to receiving email alerts for press releases, you can now allow users to sign up for email alerts when you update your annual/quarterly reports, events, presentations or any other type of content you release on a regular basis.

Career Center Expand your web site to include job opportunities. Post jobs and manage candidate resumes. Example: http://www.inmetmining.com/aboutInmet/workingatInmet/default.aspx
EDGAR Filings in HTML If you’re listed on a US exchange, we now offer SEC filings in HTML rather than PDF and automatically update this information as you submit filings to EDGAR. This makes it easier for your users to access all of your filings. Example: http://www.agnico-eagle.com/English/Investors/RegulatoryFilings/SECFilings/default.aspx

Below are the new features being pushed to your Q4 Press instance over the next few days – most you can see already. To learn more about what you can do with Press visit the Q4 Community.

Author “What’s Changed?”
Now Authors can quickly see what changes they have made and are able to compare their current version against all previous major versions.  

Minor Document Versions and Reverting
Authors are now able to track their own minor versions in the quick report. The Author can also now revert to any previous version of a press release quickly. 

Supervisor Role
Users can now be given Supervisor privileges which allow them to oversee all activity on all documents. This gives auditors and/or managers unrestricted to the Quick Report and sends notifications each time a press release is created. 

Secure and un-secure email alerts
Email alerts can now include messages in either a secure or unsecure format. If the message requires more security you can secure the alert so the message can only be viewed once inside Q4 Press. All email alerts also now include the senders name to help you prioritize alerts based on who they are coming from.  

Welcome Page
The new welcome page provides a friendly introduction for new users. It also includes a handy way for it to be dismissed (so you only see it once or twice). 

Easily Invite Users
Any existing user can now invite other people to collaborate on documents and create an account of their own.  When inviting a new user you can also add a custom message to make it more personable.

Joining Multiple Instances
You can now be a part of multiple instances in Press. This is very useful if you work with more than one company on their press releases and other regulatory documents.

Floating Comment Window
Adding comments is now easier thanks to a floating comment window. You can now move the comment input box around and the background is not obstructed by the grey screen.

Exporting to HTML
All documents can now be exported in HTML along with Microsoft Word. 

Cancel and un-cancel Press Release from the Archives
This means that even though the press release is finished you can put the press release in the cancelled bucket so that it should never be published.  You can also now un-cancel the press release put it back into workflow.

Have any suggestions for what you think the next feature of Q4 Press should be? Contact Us or leave a comment. Thanks!  

The accessibility and popularity of the Internet has seen the corporate/ investor web site move to the front line of disclosure. To protect the interests of both the broader investment public and the issuer, companies must ensure the same stringent approach toward web site disclosure as they do to ensure accuracy in core documents.

One very compelling reason to do so is the fact that material information extends beyond regulatory filings and core documents to potentially any communication. Information is material if its `omission or misstatement could influence a reasonable investor’s decision to buy, hold or sell securities in the company’. (In addition, information not considered to be material may become so when viewed in the context of other disclosures or as elements in a larger picture.)

Considering the threshold for materiality it’s surprising that most companies could not conclusively verify the content of their web site at a given time in order to address a regulatory or investor inquiry. Nor could they demonstrate that the proper approval process was followed in disclosing non-core information on the web site. (See full article for information on additional risks.)

To reduce risk associated to web site disclosure issuers should:

1. Develop comprehensive and practical disclosure controls and procedures to govern both core and non-core communications – including the corporate web site
2. Ensure that accurate, easily searchable records are captured to verify all web site content and associated approvals
3. Make certain that records are stored in a highly secure environment to prevent tampering
4. Ensure that records can be accessed quickly by a number of authorized people within your company

What should your record consist of?

1. Text and images
2. Presentations (PowerPoint, Flash, video, audio)
3. PDF documents
4. Information provided through data-feeds such as press releases, stock quotes, regulatory filings

In addition, it’s important to know not only what was on your site, but also, the context in which the user viewed your information (e.g. links to and from content, information positioned alongside other matter) in order to understand how impressions were formed.

Ways of Maintaining Accurate Web Site Records

There are several ways that one can achieve a web site record. Some methods are more accurate and/or time consuming than others. The various methods include:

1. Manual record keeping of all components
2. Page level versioning (a feature of some content management systems)
3. Site scraping (software that `scrapes’ your site at predetermined intervals in order to capture a record)
4. Integrated, real-time records capture system

The following chart highlights some of the strengths and weaknesses of each method. Details on these methods and how to make some of them work better are included within the full article.

Technorati Tags: Bill 198, Sarbanes Oxley, MI 52-109, CEO and CFO Certification, SOX 302, SOX 404, Risk Management, Compliance, Disclosure controls, Disclosure, SEC, OSC

Being an on-demand software company we are committed to providing the tools and services that help our clients achieve their goals as they relate to their web sites, disclosure and compliance. Having said that, Q4 WEB provides a long list of benefits for issuers outside of its ability to help clients reduce compliance risk. Here is a list of top 10 non-compliance benefits:

1. Complete flexibility
Q4 WEB provides the ability to easily manage all aspects of your web site. This includes easily updating how information is presented on your site, where it is displayed and replicated throughout your site. Because of how the system is designed there is a complete separation between the presentation (what the user sees) and the rest of the system. This means that you are never tied into a design or layout. As your needs change you can easily implement these changes through Q4 WEB. No matter how you are thinking about improving your site – design, content, layout, features – you can use Q4 WEB to easily achieve it.

2. Automated work flow
Built into Q4 WEB is a powerful workflow engine that helps to move content through drafting, reviewing and approval stages. Email notifications with actionable detail and comments are sent to appropriate individuals to respond. This helps in getting content approved and onto the site faster than through standard methods. Also feedback and comments are maintained over time so that conversations regarding changes are evident and easily accessible.

3. Manage multiple web sites
Does your company maintain more than one site? Using Q4 WEB you have the ability to easily manage all sites from the same system. These sites can exist on different domain names and have completely different designs. Also, content can be shared across multiple sites. For example content such as management bios, press releases or events can be managed in one location and easily distributed across all of your sites.

4. Integrated multiple languages
Q4 WEB gives you the ability to easily manage multiple languages on your site. There is no restriction on the type of languages, Q4 WEB works with all of them. It also provides the ability for content to be mirrored or separate. Meaning the exact content is available in different languages or completely separate and independent. AND by using the workflow aspects of Q4 WEB your translator can be instantly notified when new content is available for translation – helping you get more done in less time.

5. Seamless integration with various data feeds
Most clients of Q4 WEB utilize data feeds to speed the posting of key information such as press releases, regulatory filings and performance data. Q4 WEB integrates all data feeds available in the market. Whether you obtain feeds from a large company, from Q4 or from a small vendor Q4 WEB easily consumes, maintains records and displays this information in whatever format you determine is most effective for your audience.

6. Easily create mini-sites for M&A activity or similar events
Do you need to create a special deal site for a corporate action taking place? Do you need to create it quickly without disclosing any information to the public? Using Q4 WEB these sites can be easily created and managed with only your internal resources. This means more control and confidentiality for your company. Using our tool, this entire site can then be timed to go live with other related events – such as a press release.

7. Full site preview
When previewing changes in Q4 WEB you are taken to a “preview site” that is a fully functioning staging site that includes all changes that are currently pending. When previewing in competitive systems what you are presented with is a constricted view – or just the content on the page you are working on. Using Q4 WEB, you are able to make an unlimited number of changes to content, layout, design, etc and to preview all of them without impacting the live site. AND you can share this preview with others to receive feedback prior to publishing anything to the live site.

8. Integrated email alerts and subscriber management
Q4 WEB allows you to segment and manage email subscriber lists according to a variety of variables. You have the ability to create segmented lists and to send both email alerts and manual email newsletters to any of those lists. In multilingual sites, users can also specify language preferences for the information they want to receive (for example as a press release is uploaded in the second language, it would then be distributed to subscribers who had requested alerts for this language). Email alerts can easily be configured against any type of content in the system. Clients typically choose to enable alerts for items such as press releases, reports, events, presentations, etc..

9. On-Demand service and architecture
Also known as software as a service, On-Demand means that Q4 WEB is delivered through the web as a subscription model. All IT related activities and costs are included in the service delivery. This includes: enterprise class redundant web site hosting, SAS 70 Type II certification, 24/7 extensive monitoring and alerting, 24/7 customer support, scheduled back-ups and disaster recovery, regular code maintenance and application performance upgrades.

10. A focused and committed technology partner
Q4 is a software company 100% focused on increasing efficiency in helping you communicate better while providing you with the tools that you need to consistently improve your communication with shareholders. Since our inception in 2005 we have continued to expand our services to help our clients achieve more by using our software to automate manual tasks and provide the flexibility to adapt to changing market conditions. Q4 gives you the tools and the service that you can rely on.

In addition to the list above there are many additional benefits that Q4 WEB provides for companies that exist in specific industries including natural resources and financial services. But we’ll leave that for another post.

Technorati Tags: Q4 Web Systems, Q4, IR Web Sites, Disclosure, Bill 198, Civil Liability, Sarbanes Oxley, RegFD