Transcript
One of the things that I use Wdesk for and why I find it so handy: Even though I’m not filing with the SEC, I have three different companies that I have to do quarterly and annual reports for. Since they’re not filing with the SEC, they don’t have to be EDGARized, so I can use the same project for all three companies. I can use a single-source workbook to link every document. So that way, doing the roll forward process, changing dates, I change that in one place, and it goes to three different documents.
At some of our companies, there’s very little difference between the parent company that we have and then the operating company. Basically, account for account, it’s the exact same. So having that single-source workbook linking to both of those documents, it’s a lot less work that I have to do and less review on the back-end to make sure everything is accurate.
What I did implement whenever we did bring Wdesk on board was to use the online reviewing function with our external auditors. By doing that, we’ve cut down on a lot of paper. We’ve cut out a lot of time just having to manually write down their comments, wait a day to get it to us, and we look it over, talk amongst ourselves, and wait a day to give it to them. It just makes the process a lot quicker.
At some of our companies, there’s very little difference between the parent company that we have and then the operating company. Basically, account for account, it’s the exact same. So having that single-source workbook linking to both of those documents, it’s a lot less work that I have to do and less review on the back-end to make sure everything is accurate.
What I did implement whenever we did bring Wdesk on board was to use the online reviewing function with our external auditors. By doing that, we’ve cut down on a lot of paper. We’ve cut out a lot of time just having to manually write down their comments, wait a day to get it to us, and we look it over, talk amongst ourselves, and wait a day to give it to them. It just makes the process a lot quicker.