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Business Planning, Management Reporting

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  • In addition to reporting public information, the VP and his team are responsible for accumulation control, consolidation, and management reporting in the treasury function. 
  • The team prepares a consolidated business plan to the board of directors, which is made up of earnings before interest, tax, depreciation and amortization, adjusted funds from operations, as well as strategic goals.
  • The previous process using server software, one of serial editing and document creation, was "painful" and something the vice president "does not want to endure ever again."
  • After six months of using Wdesk for regulatory reporting, the team ventured into using it for management reporting.
  • The VP had to convince the SVP and CFO to get on board. He was able to promise cost savings, time savings, and quarter-over-quarter improvements. 

How Wdesk works for them

  • Wdesk allows for collaborative report creation. Each team member can access a single document at the same time because it's cloud based.
  • Communication is also greatly enhanced because everyone up through senior management and the CFO can view the report live and comment on items in the context of the report. "These are the types of features you need if you're running a very lean team."
  • Wdesk Presentations is integrated directly with the team's documents. The board presentation is created from the same numbers as the business plans, so the team knows it's always accurate.
  • The application ensures better consistency as well because Wdesk is able to link numbers from a single source of truth into other reports. When the source changes, all related data updates automatically.


  • The best value the CFO and senior VPs are receiving from Wdesk is the accuracy and consistency of the documents. They no longer see errors, like differences in net income across multiple parts of the report.
  • The promise that the vice president made has been upheld. The team has been able to shave five days—in addition to nights and weekends—off the close process.
  • Time saved has resulted in more time for other projects, like dealing with integrations and handling acquisitions.
  • Wdesk also increases efficiency for people downstream from the finance team because it only has to provide numbers once. There's no longer a need for five different inputs and five different outputs.
  • The board receives presentations consistent with the business plans since they're built from the same source.
  • Reports don’t cause as much stress as they used to, especially when changes happen late in the process. If something comes up and needs to be pushed through—statements, board reports, MD&A, or any of the other pieces that go out at the end of the month—it can be done in three to four hours instead of three to four days.

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