American Equity Saves 80% on Reporting Costs
At a time when technology is making life easier at every point, the SEC reporting team at American Equity Investment Life Holding Company, an Iowa-based underwriter of fixed annuity and life insurance products, was looking for its own technological solution to the lengthy and often complex reporting process.
“I really believe in making life easier by making technology work for us,” says Steve Harms, Assistant Vice President of Accounting Research at American Equity.
In 2009 the WebFilings team reached out to Harms and his team to demo its groundbreaking External Reporting Solution. “I thought it was going to be something we were already doing or we wouldn’t have any use for it,” Harms says. But after seeing Wdesk, he was ready to sign on.
After a short in-office training session supported by WebFilings extensive online resources, Harms was filing and managing XBRL tagging in-house. The results were phenomenal: nearly an 80 percent savings on reporting costs, eight days cut from 10-Q development, and nearly two weeks cut from the 10-K development timeline.
See how Wdesk continues to make life easier at American Equity. Click here for the full story.