- Why Wdesk
April 27, 2012
Do you often wish your word processor could handle your multi-page Schedule of Assets table for your 11-K with ease? You're not alone. With the 11-K reporting season fast approaching, I've had the opportunity to meet with many of our customers who have streamlined the preparation of their 11-K with Wdesk. Before adopting Wdesk, the 11-K edit and review process was cumbersome as traditional word processing software makes version control difficult and prohibits simultaneous, multi-user collaboration. Additionally, large tables often become a nightmare to develop and update. Here are some of the benefits that our customers have shared with me when preparing their 11-K with Wdesk: Collaboration Work in the same active document with your colleagues across your department and company. The 11-K, or employee benefit plan, is often edited and reviewed by multiple teams. With Wdesk, human resources, accounting, finance, legal, and project specific groups work on the 11-K simultaneously. Wdesk streamlines the typically complex merge process when edits and comments are made by others. Our customers save time and frustration working within Wdesk one active document and never experience version control issues again. Permission Control Multiple areas of business and individuals are responsible for various sections of the 11-K report. Our customers often assign permissions to certain sections of the 11-K, restrict access to only those who have a need to know. Wdesk allows you to grant and restrict editing, commenting and viewing access to the document based on section. Creating Multi-Page Tables with Ease With the Wdesk integrated word processing and spreadsheet editor, our customers create pre-formatted tables within their 11-K report. In an 11-K, the Schedule of Assets table can often be lengthy and complex. Wdesk simplifies the layout and the management of very large tables, and pre-formatting eliminates the headaches of gutter columns, and merged cells. Large tables in Wdesk reduce the time our customers spend editing and updating the tabular content that flows from page to page. Our customers treat their Schedule of Assets as one large table, just as you would in spreadsheet applications. Formulas work across pages making editing and validation much easier than in traditional word processors. Linking and Consolidation Sophisticated data linking capabilities enable "source" numbers, dates, and text to be changed once and automatically update everywhere they are used, throughout the11-K. With specific permissions per document and section, separation of duty between 11-K editors and those performing data entry for the tables is achieved. Wdesk customers use the linking and consolidation features of our workbooks to roll-up information and create the 11-K just like they do with the 10-Q and 10-K. Checking Figures Our customers save time and gain control of the entire 11-K reporting process with check figure formulas built into your document. Check figures ensure numbers in your document tie out properly and agree with source data. Filing One of the greatest benefits we provide our customers is the ability to easily generate EDGAR HTML and file their 11-K directly with the SEC themselves. The Wdesk External Reporting Solution ensures that the content in the EDGAR HTML and the narrative, word processing document are identical. This added degree of control means that our customers no longer have to build in extra time to create and review EDGAR HTML versions of the 11-K. Our customers can react to very late content changes and still manage to file when they planned. Are you interested in saving days of calendar time, while simultaneously gaining complete control on your 11-K this year? Contact us to learn how.