Unclaimed Property Reporting Is Transformed for Holders and for States
CEDAR RAPIDS, IA — Oct 1, 2013 — Just three-and-a-half years after launching UPExchange — its acclaimed system for unclaimed property reporting and the only offering of its kind on the market that is available from the cloud — ETM now has more than 20,000 holders of unclaimed property subscribed. In addition, ETM now has 24 states accepting online, electronic reports and/or payment remissions for unclaimed property, with more states presently in implementation.
“Given the response from the holder community and the states, we’ve clearly started something,” said Layton Olson, CEO at ETM. “Online reporting fills the need for speed, accuracy, cost-effectiveness, and compliance. To have bridged the historical gap between holders and their reporting jurisdictions is something that makes all parties to unclaimed property reporting transactions feel very good, indeed.”
UPExchange™ is a web application that makes unclaimed property compliance simple. To meet end-user requirements, it’s accessible from anywhere with just a browser, and sends reports and payments to multiple states entirely online. To meet IT requirements, it’s delivered from the cloud. To meet security requirements, it uses real-time database protection, monitoring, auditing, and breach-prevention that follow PCI DSS, and SSAE 16 best practices. To meet business requirements, it is a complete unclaimed property administration system that includes compliance and audit tools to assist in managing the various state specific reporting, due diligence and record retention requirements. It’s endorsed officially and exclusively by NAUPA (the National Association of Unclaimed Property Administrators)*.ETM is a web-application-development firm that specializes in providing statutory financial reporting, tax-compliance, and unclaimed property reporting services, making its clients more efficient, consistently accurate, and uniformly compliant. Founded in 2001, ETM has served nearly 50,000 companies and is the leading provider of software to automate and file financial information to meet numerous regulated reporting requirements. In 2010, ETM developed a web application for Unclaimed Property reporting. ETM has pioneered the development of electronic filing specifications and electronic payment to the state regulatory departments.
For more information about ETM, please visit www.byETM.com, call 855-737-1688, or e-mail sales@byetm.com.
