Control your release. Timing is everything.

October 18, 2012
Today, the financial press reported a major misstep in the release of a public company's earnings report. The results were immediately damaging and extremely costly. This unnecessary mistake reinforces the need for public companies to completely control the release of their financial data. WebFilings prides itself in offering confidential external reporting solutions that are solely in the hands of the public companies. The Wdesk end-to-end External Reporting Solution provides companies in-house control over their SEC filings, from data creation and collaboration to final reporting, including XBRL tagging and submitting the EDGAR, and XBRL filings directly to the SEC website. Companies use the External Reporting Solution within their internal control systems to ensure reports are accurate and timely before they are submitted to the SEC. External Reporting Solution features:
  • A single document datamodel in which same, inherently linked data set sources the text document, EDGAR HTML, and XBRL views
  • Innovative collaboration ability that eliminates version control issues and reduces drafting cycle time
  • Sophisticated linking capabilities ensure all changes made to source values and text will automatically update all related data and text throughout the document
  • Instant, integrated EDGAR HTML conversion that saves days of work for public reporting teams and enables them to file directly with the SEC
  • Easy-to-use XBRL applications that simplify creation of SEC-compliant XBRL documents (including detailed "Level 4" tagging)
  • Unlike bolt-on solutions, our integrated approach enables parallel document drafting and XBRL tagging
This combination of benefits allows public companies to completely control their financial reporting process and helps avoid costly missteps. To learn how Wdesk enables pinpoint control over release timing read our business brief: Timing is Everything, Enabling the CFO to Maximize Value.
Mike Sellberg

About the author

Mike Sellberg is Executive Vice President and Chief Product Officer at Workiva. He is the former EVP and CTO at iMed Studios and the former Divisional General Manager at Engineering Animation, Inc.