Fund Report Development Made Easy: EDGAR and XBRL
Now your team experiences a "pencils down" period of up to 10 days as you wait for your financial report. During this wait time, no changes to your report can be made, but what if a late breaking change to your financial report does occur?
Your cross-functional financial reporting team must then assess whether the proposed changes are of high enough importance for your company to incur rush charges from the printer.
While the rush charges are costly, the inevitable back-and-forth review process that ensues is worse.
First, you send over the proposed changes. After several days, then your printer sends you back an EDGAR document and an XBRL instance document to review. Then, you are tasked with comparing the report that you sent them with these documents they produced, character by character—making sure every change that you proposed made it in and verifying that these changes are the only things the printer changed. During this painstaking review, inevitably another late breaking update to your report occurs. And the process and pain, repeats.
Take back control of the process and save days in your reporting cycle with instant EDGARization and parallel XBRL tagging. Rather than sending your financial report "over the wall," keep it in-house and 100 percent under your oversight and control.
With Wdesk, your financial report is always EDGAR-ready, and you can work with our team of experts on the XBRL tagging of your document. This way you always stay in control of your document, throughout the entire process.
Confidently file your documents to the SEC with a click of a button directly from your desk, on Wdesk. Have peace of mind in knowing your report has been done right and use the time saved on more important things like data analysis.
To learn more about Wdesk, contact us to schedule a demo today.