Investor Relations: An Early Fan
One of the early fans of the Wdesk External Reporting Solution has been the Investor Relations (IR) Team. When we developed our application, the IR department was a key user group, or what product managers call a "persona," and we made sure that our feature set would cater to their specific needs. However, we didn't anticipate that IR adoption would happen so quickly. Our customers have been routinely involving IR in the 10-Q report authoring, and particularly with 8-Ks for earnings releases and earnings call transcripts.
Since these reports are quite often filed on the same day, it quickly became clear that there was a great benefit from Wdesk innovative linking capability, which allowed all three reports to be linked to the same data workbook. With all data references linked to a master source, if there were any last minute changes, all the reports would be automatically updated...eliminating the potential for data errors.
Many IR groups have also been using Wdesk for shareholder communications including "investor supplement documents" that are sent to all investors. These documents are sent out quarterly with summary information from the 10-Q, so linking these documents also insures that updates to the 10-Q are automatically reflected in the investor supplement.
FBL Financial Group, Inc. is a company that does just that. Tim Bigley, Director of Investor Relations, speaks highly of how the Wdesk solution has been leveraged by their IR department. You can hear about Tim's experience on one of our recent webinars, "Internalize Your SEC Reporting Process," where he explains how Wdesk has reduced the risk of error, saved time, and enabled them to respond to opportunities quicker.
As WebFilings heard from our customers about the benefits for IR, the topic became a standard part of all our presentations. Since IR has become a key element of our "story," we've had opportunities to speak with several IR industry experts. It is always exciting to talk to someone passionate about their industry...someone with a vision for how their profession can be transformed for the betterment of their companies. I had the pleasure of meeting one such person, Heather Wietzel from InsuranceIR LLC. Heather is extremely knowledgeable on IR and she has taken the time to speak with our leadership team at WebFilings about key aspects of the IR function. We look forward to an ongoing dialogue with her. And yes, it helps that she is absolutely pumped about our solution and how it can help companies realize her vision. I recommend you take a look at her blog and see for yourself.