Data Collection Slashes 20 Hours of Work Per Person


  • The team had vastly improved the company's external reporting process by switching from outsourcing tasks to handling everything in-house using Wdesk for SEC reporting.
  • Each quarter the team gathers data from hundreds of people in offices around the globe and feeds it into various reports that often run into hundreds of pages. Gathering the data, keeping it secure, ensuring its accuracy, and managing updates to data was a time-consuming and unwieldy process.
  • Just for the company’s note for debt services, part of its quarterly SEC reports, the team has to collect data from 180 people in offices worldwide. To gather that information, emails were sent to each source every quarter. As the sources returned their numbers, the team logged the data into a spreadsheet and then rolled up hundreds of numbers into a few data points for the report.
  • If a source changed a number—which was a regular occurrence—the reporting team had to update the spreadsheet, recalculate the aggregate, and change it on the report. Tracking who sent what and when was a headache.

How Wdesk works for the team

  • By automating the process with Data Collection, the team instantly streamlined collecting data from 180 people worldwide. Data is populated into single template, and numbers are linked to the final report.
  • If a collected number ever changes, it's automatically reflected in all related reports—including who changed the number and when.
  • Version control for longer reports is dramatically simplified since only one version of the document exists, and all source data is linked throughout. This reduces report production time by days.
  • All changes are fully auditable. Time stamps and authors are automatically saved, ensuring accountability as well as compliance with the institutions’ high auditing standards.
  • Because the data is transmitted on the cloud through Wdesk, it's more secure than email—which could be misdirected, intercepted, or deleted. Wdesk is SAE16 certified and trusted by some of the largest financial institutions in the United States.


  • The financial corporation’s reporting team has slashed about 20 hours of work per person, per week from the reporting period.
  • Now that team isn't dependent on outside vendors, it has a nimble reporting process, can produce reports quickly, and file earlier.
  • Data Collection has helped improve the team's workflow management. It allows them to have a 360-degree view of the work stream, versus having to rely on external vendors.
  • The vice president expects to expand the use of Data Collection and could ultimately have 800 people in offices around the globe input data using the platform.
  • He says that Wdesk has also made the reporting team’s job more meaningful. Team members now have time to do their jobs—to step back and be analysts again—versus just managing data.

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