# SEC and disclosure reporting for small business buyers: what AI models recommend, October 2026

Finance AI Recommendation Index, October 2026 Edition. Asked as "SEC and disclosure reporting platform" and as "disclosure management software for SEC filings", six framings each, to fourteen models with search on, on behalf of a small B2B company. Added to the October 2026 Edition on October 4, 2026; its answers are read by the distilled judge (ai-indexes-judge-qwen3-14b-run3), not the claude-opus-5 judge of the earlier categories. Page: https://finance-ai-index.com/accounting/sec-and-disclosure-reporting/smb/

**Standing:** IRIS CARBON (tied with Certent Disclosure Management) leads with 28% of first choices; verdict contested. 68 first choices across the direct, paraphrase, budget and scale prompts.

## First-choice share

| # | Product | Share | Negative rate | Labels |
|---|---|---|---|---|
| 1 | IRIS CARBON | 28% | 2% | 48 |
| 2 | Certent Disclosure Management | 28% | 6% | 48 |
| 3 | DFIN ActiveDisclosure | 13% | 22% | 54 |
| 4 | Workiva | 9% | 64% | 72 |
| 5 | Certent | 4% | 23% | 13 |
| 6 | FilePoint | 1% | 0% | 11 |
| 7 | Toppan Merrill Bridge | 1% | 30% | 23 |
| 8 | Arelle | 1% | 40% | 10 |

## Each model's first choice on the direct prompt

- Claude Haiku 4.5: Certent Disclosure Management, IRIS CARBON; alternatives DataTracks Rainbow, EDGARsuite
- GPT-5.4 mini: Workiva; alternatives DFIN ActiveDisclosure, EDGAR
- Gemini 3.5 Flash: DFIN ActiveDisclosure; alternatives Certent Disclosure Management, IRIS CARBON, M2 Compliance
- Perplexity Sonar: IRIS CARBON; alternatives Certent Disclosure Management, Workiva
- Grok 4.1 Fast: Certent Disclosure Management, IRIS CARBON; alternatives EdgarEase, FilePoint, Toppan Merrill
- Mistral Small: Workiva; alternatives RERegnology ESEF
- DeepSeek V4 Flash: Certent Disclosure Management, IRIS CARBON; alternatives DFIN ActiveDisclosure
- Llama 4 Maverick: Certent Disclosure Management, IRIS CARBON; alternatives ActiveDisclosure, Workiva
- Qwen 3.7 Flash: Certent Disclosure Management, IRIS CARBON; alternatives Gleacher, Toppan Merrill
- Kimi K2: Certent Disclosure Management; alternatives DFIN ActiveDisclosure, FilePoint, IRIS CARBON
- GLM 4.7 FlashX: DFIN ActiveDisclosure; alternatives Certent Disclosure Management, IRIS CARBON
- MiniMax M2.5: Certent Disclosure Management, IRIS CARBON
- GPT-6 Luna: DFIN ActiveDisclosure; alternatives SEC EDGAR directly, Toppan Merrill Bridge, Workiva
- Muse Glimmer 30B: Certent Disclosure Management; alternatives DFIN ActiveDisclosure, IRIS CARBON, Toppan Merrill Bridge

## Sources the answers cite

80 of 84 answers came back with a source list, from 14 of 14 models. Sites named in the most answers:

- cfoshortlist.com: 63 answers, 125 citations
- houseblend.io: 50 answers, 91 citations
- zipdo.co: 37 answers, 64 citations
- gitnux.org: 32 answers, 43 citations
- g2.com: 29 answers, 35 citations
- sec.gov: 27 answers, 80 citations
- wifitalents.com: 27 answers, 32 citations
- dfinsolutions.com: 25 answers, 31 citations

Pages named in the most answers:

- https://cfoshortlist.com/reports/sec-reporting-software (63 answers)
- https://cfoshortlist.com/reports/best-disclosure-management-software (48 answers)
- https://houseblend.io/articles/sec-filing-software-platforms-pricing-compliance (46 answers)
- https://zipdo.co/best/sec-filing-software (28 answers)
- https://houseblend.io/articles/pdfs/sec-filing-software-platforms-pricing-compliance.pdf (27 answers)
- https://grctools.net/best-disclosure-management-software-for-sec-reporting (25 answers)
- https://gitnux.org/best/sec-filing-software (22 answers)
- https://dfinsolutions.com/products/activedisclosure (20 answers)
- https://wifitalents.com/best/sec-filing-software (20 answers)
- https://zipdo.co/best/sec-reporting-software (20 answers)

## Warned against

- Workiva: 46 of 72 labels negative. "Platforms/Types to Avoid (Generally Too Enterprise-Focused for SMBs):
- Workiva... "not ideal for small/mid-sized companies without enterprise budgets"" (Grok 4.1 Fast, negative prompt)
- DFIN ActiveDisclosure: 12 of 54 labels negative. "Credible but still priced above budget-conscious tiers for small filers." (DeepSeek V4 Flash, budget prompt)
- Toppan Merrill Bridge: 7 of 23 labels negative. "opaque pricing with enterprise-style quotes and bundled filing services that make benchmarking difficult" (DeepSeek V4 Flash, direct prompt)
- Arelle: 4 of 10 labels negative. "Open-Source / DIY Tools (Avoid Zone) ... It is essentially a command-line tool." (GLM 4.7 FlashX, negative prompt)

## Record

- Method: https://finance-ai-index.com/methodology/
- Raw judge labels and full responses: https://finance-ai-index.com/data/
- License: CC BY 4.0. Cite as Finance AI Recommendation Index, October 2026 Edition, finance-ai-index.com.