Workiva Named Category Leader
eBay Files 10-K 20 Days Faster with Wdesk
August 24, 2011
The world's leading e-commerce company, eBay, relies heavily on advanced technologies to manage millions of transactions in their online market place, but until recently, their SEC reporting team was waiting for those advanced technologies to make their way into the financial reporting process. When WebFilings came calling and presented an opportunity to participate in and influence the evolution of the financial reporting process via a cutting-edge cloud based collaboration platform, eBay was impressed and became one of the first companies to adopt Wdesk. eBay expressed their desire for a solution that could make the process more efficient, and faster. Leveraging Wdesk, the team has been able to exceed management's goals and file their 10-Q on the same day as the earnings release. Additionally, they were able to shave 20 days off their previous fastest 10-K filing. "Wdesk makes us more efficient and helps us save a significant amount of time," Sean Cook, Director of Corporate Accounting and Reporting at eBay, boasts. Tyler Olsen, SEC Reporting and Accounting Policy Senior Analyst said, "When I first saw Wdesk, I was blown away. I immediately noticed significant efficiencies in how we could improve our process using Wdesk." And, in addition to a streamlined process and time savings, eBay has also realized a bottom-line difference...saving approximately $50k annually on third-party SEC reporting costs, via the integrated XBRL tagging and EDGARization features and the ability to file directly with the SEC. "I recommend Wdesk because it's just out-of-date to do SEC reporting using a traditional word processor and spreadsheet software," Cook summarizes, "I always recommend Wdesk. With all the functionality it offers and the savings you get right away, why wouldn't you use it?" Download the complete case study, "eBay Improves Process and Saves Days with Wdesk," to learn more about how eBay has saved time, money and significantly improved their entire SEC reporting process with the External Reporting Solution from Wdesk.