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Audit Committee and Management Package

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  • The previous process used Oracle Hyperion® and IBM® Clarity 6™.
  • Even though each of the reports was built from the same numbers, they were not linked. Each time a number changed, it had to be updated in as many as five instances.
  • The primary audience for the reporting packages are the CFO, other executives, and the board, as part of their review of SEC documents. Prior to Wdesk, the team would submit PDFs that had originated in Microsoft® Office.
  • The team began using Wdesk for XBRL and SEC filings but soon realized the potential in other areas since the data and narrative were linked. 
  • Wdesk was quickly expanded to internal reports—management and audit committee packages—which are populated from much of the same information in SEC reports. It also included investor relations presentations, such as the earnings release.

How Wdesk works for them

  • By leveraging its existing SEC reports, the team quickly generated internal reports. It recovered the amount of time it took to implement Wdesk in its first reporting cycle and has continued to gain time savings since.
  • Linking has provided the ability to connect operations data, like financial statements, balance sheets, and income statements for SEC filings, into the management and audit committee packages, as well as investor relations materials. If a number changes at any time in the process, a single click pushes the change through all reports.
  • The team develops workbooks, documents, and charts in a single integrated environment, increasing control over formatting. Each document can be divided and worked on separately with no concerns about reintegration and reformatting at a later time.
  • Executives see changes they have commented on through blacklines created between different document versions.
  • If work needs to be done on the weekend, late at night, or when the office is closed due to weather, all users can securely access Wdesk from home via the cloud.


  • Success in the financial reporting department has opened up possibilities for use in other areas of the company.
  • The team has been able to integrate many different reports, so it works together in sync. The application's ability to ensure accuracy with linked data has increased the team's confidence.
  • Because of the efficiencies gained in generating reports, the team, management, and auditors have more time to look at the bigger picture and consider the why involved in the numbers, as opposed to just what the numbers are.
  • The time saved has led to a better work-life balance. Team members are able to save several hours a day during reporting times, allowing them to go home earlier.
  • The CFO, management, and the board have noticed an overall increase in report quality. Final reports look more polished, and there are fewer errors. The CFO is also pleased in the increased control over the report schedule.


Oracle Hyperion is a registered trademark of Oracle and/or its affiliates.
IBM and Clarity 6 are trademarks of International Business Machines Corp., registered in many jurisdictions worldwide.


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