- Why Wdesk
Altera Corporation Testimonial
Bryan Moiles: My name is Bryan Moiles, the assistant controller at Altera Corporation and Altera Corporation is a leading designer and innovative programmer of logic devices. Altera is located… it’s a global corporation and we have offices throughout the United States and throughout Asia and Europe. A big part of our business is in Malaysia, where we have an engineering and finance team located there as well as corporate support teams. The growth of the company is really in the Asian markets at this point in time.
I first learned about WebFilings approximately two years ago. We were really looking at potential opportunities for how we were going to deal with XBRL tagging and we were going the traditional route, looking at printers and the services they offered. And then through some networking somebody notified us about WebFilings and we started to take a look at the services that were offered.
It was really the suite of services that WebFilings offered and the fact that we could have control. That was a big aspect for us. When we were talking to the printers, one of the challenges we noticed right away was the fact that the turnaround time was going to grow and we didn’t want to extend our reporting process.
When we took a look at WebFilings and what it offered, we’d have control over the document from start to finish, it would actually allow us to shorten the time, and really have, you know, from start to end, the oversight of the whole process, which we really wanted to have.
My favorite feature of the WebFilings application would really be the collaboration aspect of it. So the fact that I have a team here in San Jose and Malaysia, one of the challenges that we had before was version control. It never failed that somebody would be working on an older document or we’d send something across and there’d be some kind of technical error with it. With WebFilings, I can have the whole team working on the document at once and then there’s never any concern about version control.
We do recommend WebFilings to other public companies. There’s various things that we point to. One was the amount of efficiency that we picked up when we started using the tool. I used to have people who would spend hours just rolling forward a document, checking a document, making sure that all the numbers were correct. With the WebFilings tool, now it’s all linked to a main worksheet and we just need to check that once. The roll forward process has taken two or three days out of the overall process itself. It’s a lot quicker, I have a lot more comfort around it.
And one of the things that I really appreciate is that they’re not just fixing the problem for us and saying, “It’s done, you’re all set. Go forward.” They’re actually taking the time to train us on what the issue was so that if it does come up again in the future, we have that skill set in-house now to address it.
The second thing, to be honest, was the ease of use. When we talk about XPRL tagging and preparing the Q and K, it can be a little intimidating. And as we get in and utilize WebFilings we were very comfortable with it. Basically we found if you could use Word and Excel, we picked up on how to get the document in there, format it, and set up. The tagging was somewhat intuitive as well as far as utilizing the tool. Tagging is like speaking another language, it’s something that we had to learn, it was a significant learning curve. But if the tool wasn’t as straightforward and easy to use as it is, it would’ve been more of a challenge for us.