Techno Jargon 101: Single Document Datamodel
However, sometimes a feature of a software platform makes such a critical difference for a company that it must be discussed. Such is the case with Wdesk single document datamodel. Yes, this sounds a little geeky, but it is very important for companies who want to take control of their process and want to ensure accuracy of their filed reports.
One of the biggest risks in external reporting is associated with managing multiple data sources and making sure the reporting document, EDGAR version, and XBRL instance document are synchronized. Financial printers and "bolt-on" software providers do little to solve these problems, and in many cases they make things worse. Our single document datamodel solves all of these issues and puts the company back in control of their SEC reporting.
For a detailed overview of the current issues surrounding multiple data sources and synchronization risks and how Wdesk solves them, click on this video excerpt below from one of our recent webinars.